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) In 2025, Vietnam’s tuna exports to Spain increased by 13% compared to 2024. This growth trend has continued into the first two months of 2026. According to Vietnam Customs statistics, export turnover to this market reached nearly USD 3 million in January–February 2026, up 101% year-on-year and significantly higher than the same period in 2024. This development indicates that Spain is once again becoming a notable destination for Vietnamese tuna amid strong demand for tuna raw materials and products in Europe.
(seafood.vasep.com.vn) The 2026 brackish water shrimp farming season in the Mekong Delta has started earlier than usual, mainly driven by positive market signals, as shrimp prices in 2025 remained high and supply was limited. Many enterprises and farms in Cần Thơ, Cà Mau, and Vĩnh Long have proactively stocked early to seize opportunities. By early 2026, stocking areas in many localities had reached a high proportion of planned targets, with intensive and high-tech farming models expanding rapidly.
(vasep.com.vn) Vietnam’s tilapia exports to the United States recorded remarkable growth in 2025, opening up major opportunities while also presenting considerable challenges. The U.S. remains the largest importer of Vietnamese tilapia fillets, with export turnover reaching USD 40 million—an increase of up to 499% compared to 2024. This impressive growth reflects strong demand in the U.S. market, as supply from competing countries such as China has been constrained by tariffs and rising production costs.
(seafood.vasep.com.vn) Pangasius remains a strategic export commodity in Vietnam’s seafood sector. Entering 2026, the industry faces a strong need to transition from volume-based growth to a value-driven development model, with a focus on quality, food safety, and sustainability.
(seafood.vasep.com.vn) Following damage caused by Storm No. 13 in late 2025, brackish water shrimp farming in Gia Lai is being rapidly restored. In key farming areas such as Tuy Phước and Tuy Phước Đông, farmers are focusing on rehabilitating ponds, repairing infrastructure, and treating the environment in preparation for the 2026 crop.
(seafood.vasep.com) Facing the decline in fishery resources, Vietnam is accelerating livelihood transitions for fishermen to reduce fishing pressure and move toward sustainable development. Marine fish stocks have dropped significantly from 4.82 million tons in 2000–2005 to 3.95 million tons in 2016–2020.
(seafood.vasep.com.vn) Vietnam’s shrimp industry is entering a period of strong transformation with the emergence of various high-tech farming models, helping improve productivity and competitiveness. Over the past 5–10 years, farming practices have shifted from traditional methods to intensive and super-intensive systems, featuring lined ponds, environmental sensors, automated feeding, and data management.
(seafood.vasep.com.vn) With a focus on sustainable development, high-tech application, and climate change adaptation, An Giang Province aims to maintain its brackish water shrimp production in 2026 at a level equivalent to the previous year. Specifically, output is projected to reach over 155,510 tons, serving both domestic consumption and export processing, thereby sustaining the fisheries sector’s key role in the local economic structure.
(seafood.vasep.com.vn) In the Mekong Delta, key pangasius farming provinces such as An Giang, Dong Thap, and Can Tho are accelerating the transition toward a circular economy model, contributing to higher product value and reduced environmental impact. Instead of focusing solely on farming and processing, the pangasius value chain is increasingly utilizing by-products and waste streams to generate added value.
(vasep.com.vn) Vietnam’s scallop exports are entering a phase of impressive growth, as the global market undergoes significant restructuring. In 2025, scallop export value reached nearly USD 66 million, up 49% from USD 44 million in 2024. This upward momentum has continued and accelerated into early 2026, with exports totaling USD 18.1 million in the first two months alone—an increase of 166% year-on-year. This represents an exceptionally high growth rate, reflecting the rapid expansion of a relatively new product segment within Vietnam’s mollusk export portfolio.
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