Shrimp: Strong growth momentum
Shrimp continued to be the largest bright spot, contributing USD 542.387 million in the first two months of the year, marking a growth of 30.8%. In February 2025 alone, shrimp export value reached USD 231.406 million, a 33.9% increase. This recovery indicates that the shrimp industry is regaining its growth momentum after a prolonged period of low prices in 2023-2024. Despite a decline in imports from China and the U.S. in 2024, other markets such as the EU and emerging regions have filled the gap, helping maintain global shrimp production stability while prices have improved. This suggests a healthier balance between supply and demand.
The EU has become a key market, with imports of frozen Penaeus shrimp and value-added processed shrimp reaching 376,875 tons in 2024, an increase of 4% compared to 2023. The long-term growth trend is evident as imports in 2024 were 26% higher than in 2019, primarily due to contributions from Ecuador (+78%) and India (+47%). Vietnam also recorded partial recovery in its supply to the EU, solidifying its position among the top suppliers. However, increasing competition from Ecuador and India requires Vietnam to focus on value-added products and diversify markets to maintain its competitive edge.
The shrimp industry’s outlook for 2025 is relatively optimistic, provided that instability factors such as the trade war during the Trump administration do not cause further disruptions. Average import prices have risen since October 2024 and are expected to remain high throughout 2025, thanks to stable inventories, which provide confidence for both exporters and importers.
Pangasius: Price growth but underlying risks
Pangasius exports reached USD 253.241 million in the first two months of the year, but showed a slight negative growth (-0.8%) compared to the same period. In February 2025, the export value was USD 120.057 million, marking a strong growth of 32.8%, signaling a short-term recovery. The price of commercial-sized pangasius is currently at its highest level in three years (32,000-33,000 VND/kg for fish over 1kg), providing substantial profits for farmers (2,000-3,500 VND/kg). This price increase is a result of rising export demand, especially since late 2024, when businesses reported steady orders extending through at least June 2025.
However, the pangasius market faces significant challenges. Raw material prices have increased due to rising input costs (feed, labor) and uncertainties from U.S. tariff policies, with an additional 10% tax on seafood processed from China, which indirectly affects global trade flows. Demand in the U.S. remains sluggish, and large inventories may suppress price increases. Pangasius farmers need to be cautious and avoid spontaneous production expansion, as current prices may be "artificial" and could drop if supply exceeds demand. Collaborating with businesses, applying modern farming technologies, and focusing on value-added products will be key to maintaining a competitive advantage.
Tuna: Stability amid challenges and international regulations
Tuna exports reached USD 126.481 million in the first two months of the year, a slight decrease of 3.5%, with February 2025 reaching USD 59.986 million, showing a growth of 15.9%. Japan, one of the main markets for Vietnamese tuna, has shown price stability, though at a low level. The price of frozen bigeye tuna at the Toyosu Market (Tokyo) has remained around 650 yen/kg since week 4 of 2025, 100 yen/kg lower than last year, due to tight supply from the Indian and Pacific Oceans. Meanwhile, premium bluefin tuna remains scarce, pushing the auction price of high-quality tuna at Oma (Aomori) to exceed 10,000 yen/kg on February 20, 2025.
The Vietnamese tuna export industry is facing significant challenges from major importing markets like the EU and the U.S.
Other products
Other product groups such as various fish (USD 302.783 million, up 13.6%), squid and octopus (USD 101.009 million, up 13.8%), mollusks (USD 39.089 million, up 121.6%), and crabs (USD 62.762 million, up 86.1%) all show significant potential. Notably, mollusks and crabs have recorded remarkable growth due to strong demand from the Chinese market.
(seafood.vasep.com.vn) Vietnam’s seafood exports in February 2026 reached approximately USD 707 million, up 8% compared to the same period last year. Cumulatively, exports in the first two months of 2026 totaled USD 1.7 billion, an increase of 20.2% year-on-year. The results show that the sector’s recovery momentum has remained relatively solid following strong growth in January, although the pace slowed noticeably in February for several key products and major markets. Within the overall picture, shrimp continues to be the largest pillar, pangasius rebounds strongly, while tuna exports and the U.S. and Korean markets are sending signals that warrant closer monitoring. In March, seafood exports are expected to gain additional momentum from markets other than the U.S., potentially supporting stronger growth.
(seafood.vasep.com.vn) In the first months of 2026, fishing activities in Quang Tri province recorded many positive signals, with output reaching over 15,941 tons. This result not only demonstrates fishermen’s efforts to stay offshore but also reflects the effectiveness of management and support measures implemented by local authorities.
(seafood.vasep.com.vn) In the first months of 2026, IUU prevention models focused on communication and mobilizing fishermen to comply with fisheries laws and avoid encroaching on foreign waters—related to combating illegal, unreported, and unregulated (IUU) fishing—have been implemented in coastal localities of Lam Dong province and have delivered initial positive results.
(seafood.vasep.com.vn) The sharp rise in raw pangasius prices to record levels is sending positive signals for the industry, but experts warn of potential supply–demand imbalances if production is not tightly controlled.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, the country’s total canned tuna export value in 2025 reached over USD 275 million, down 8% compared to 2024. Vietnamese canned tuna products were present in approximately 80 markets worldwide. However, the 2025 picture shows clear divergence: the U.S. maintained stability, the EU declined sharply, while several Middle East–North Africa (MENA) markets accelerated.
(seafood.vasep.com.vn) In 2025, Vietnam’s crab exports reached nearly USD 86 million, up almost 6% compared to 2024. A notable feature of 2025 was the strong market concentration in the United States, which accounted for more than 81% of Vietnam’s total crab export value, up 10% from the previous year. In contrast, exports to several Asian markets declined significantly, resulting in only modest overall growth for the year.
(seafood.vasep.com.vn) In 2025, Vietnam’s tilapia exports recorded impressive growth, with total export turnover reaching over USD 99 million, highlighting the increasingly important role of this product in the country’s seafood export structure. Of this total, tilapia fillets and other fish meat products accounted for USD 61 million, representing 61% of total export value and reaffirming their position as the key product category.
(seafood.vasep.com.vn) Shrimp seed quality is considered the “first link” and a decisive factor affecting the efficiency of the entire commercial shrimp production chain. High-quality seed directly influences survival rates, growth performance, and disease resistance, thereby determining production costs, productivity, and farmers’ profitability.
(seafood.vasep.com.vn) As part of its agricultural restructuring strategy toward sustainability, Quang Tri Province is gradually promoting environmentally friendly aquaculture models. Among these, organic-oriented golden pompano farming is considered a promising direction, aligned with the goals of enhancing production value and building sustainable rural areas.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
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