Shrimp exports in February 2024 decreased by 11% to 173 million USD due to the Lunar New Year. However, thanks to strong growth in January, cumulative export turnover in the first 2 months of the year still recorded an increase.
The price of raw white leg shrimp and black tiger prawn in Vietnam since January this year tended to gradually increase, although it has not yet recovered to the price level of the same period last year. In the first month of this year, the average price of Vietnamese shrimp exports to the US, UK, and Korea recorded an increase, while the export price to China, the EU, and Japan recorded a decrease.
The Chinese and US markets still show attractiveness
In February 2024, Vietnamese shrimp exports to the China and Hong Kong markets increased by 76% to 39 million USD. This is the only market among the main shrimp import markets that recorded positive growth in February this year. Accumulated in the first 2 months of the year, shrimp exports to China and Hong Kong markets recorded a 3-digit growth of 143%, reaching more than 81 million USD.
The demand for importing Vietnamese shrimp to China in the first two months of this year was quite high. In the first month of this year, China sharply increased shrimp imports to meet Lunar New Year demand. In addition, China reduced imports from Ecuador, China's largest shrimp supplier, so this market increased shrimp imports from Vietnam. In the Chinese market, Vietnamese shrimp has to compete in price with rival suppliers, but many buyers in China consider Vietnamese shrimp to be of higher quality than Ecuador and India, so they have accepted the price higher.
In 2023, China imported 1 million tons of shrimp, showing the large capacity of this recent market. Vietnamese enterprises also have a strategy to focus on selling shrimp products to China that other shrimp-supplying countries cannot meet. Vietnamese shrimp exports to China still grew well in the first half of this year.
Vietnamese shrimp exports to the US in February of this year reached 31 million USD, down 9%. In the first two months of the year, shrimp exports to this market reached 72 million USD, an increase of 26%. Although it decreased in January, it was at a slight pace due to the coincidence with the Lunar New Year holiday. The average price of Vietnamese shrimp exports to the US, after hitting bottom in November 2023, tended to increase in the first months of this year.
Experts say that US sales of fresh and frozen seafood are forecast to stabilize in 2024 after facing many difficulties in 2023 due to inflation and people tightening spending. Compared to some of the main shrimp suppliers in the US, which are India, Ecuador, and China, Vietnam is considered more promising, especially when diplomatic relations between Vietnam and the US are good, opening up many opportunities for products exporting Vietnam into America. The US is also having a policy of increasing purchases from other countries, reducing dependence on Chinese goods.
The North American Seafood Exhibition 2024 takes place from March 10–12 with the participation of many large shrimp exporters to the US, also promising many prospects for shrimp exports to this market.
Difficulties and challenges for the shrimp industry still exist, such as desease in farmed shrimp is still worrying, market demand is still weak, and there has not been a clear recovery in the EU, Japan, and Korea markets. The shrimp industry is determined to focus on the farming stage to increase competitiveness and promote the production of value-added products. With the support of the government, ministries, and branches, shrimp exports hope to soon return to the growth track this year.
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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