Tuna processing and exporting enterprises are facing many difficulties because of uncertainties of the market, rising raw price and production costs.
Skipjack tuna prices hit a peak
Continuously from the beginning of the year, tuna catches remained low, causing a decrease in the supply of raw materials. This has pushed skipjack prices to peaks.
The price of frozen whole skipjack tuna with size >1.8kg in Bangkok, after a slight decrease from $1,750/ton to $1,700/ton, stabilized in February. However, lower catches has led to a decrease in the amount of skipjack tuna arriving at Bangkok ports, causing prices to increase significantly.
The price of frozen whole skipjack tuna with size >1.8kg in Bangkok rose to $2,050/ton in May, an increase of nearly 21% in just 3 months, and an increase of 8% over the same period. This is the highest price in the past 5 years.
Low demand in key markets
Tuna exports to traditional markets all decreased in April. Besides, some new markets still increased strongly such as Israel up 49%, Thailand up 486% and Russia up 486%.
Tuna exports to traditional markets all decreased in April
Export to the US market continues to fall deeply. The US economic situation is getting worse and worse, and consumers are becoming more cautious. Americans are gradually cutting back on spending on low-value items, they buy less non-essential groceries, buy in bulk... According to CNN, major US chain stores including Nordstrom, Walmart , Whole Foods, Starbucks and CVS have recently closed in several major US cities, raising alarm bells about the future of retail in the country. This situation has caused Vietnam's tuna exports to the US to continue to decrease by 60% in April 2023. And cumulatively in the first 4 months of the year, tuna exports to this market decreased by 55%, reaching nearly $90 million. The proportion of tuna export turnover to the US from 55% in the first 4 months of 2022 has decreased to 36% in the same period this year.
Tuna exports to the EU, after a slight increase of 5% in March, reversed in April. Export value to this market in April was only nearly 11 million USD, down 28% over the same period. In the first 4 months of 2023, the export turnover to this market decreased by 9%, reaching more than 48 million USD.
In April, Vietnam tuna exports to Lithuania showed significant growth, surpassing Italy and becoming the EU's third largest import market of Vietnamese tuna after Germany and the Netherlands. Exports to Germany also experienced an increase of 25% during the same period. In the CPTPP market bloc, after continuously increasing imports of Vietnamese tuna in the first 3 months of 2023, exports to Japan experienced a 25% decline in April. Exports to Mexico and Chile saw significant increases of 117% and 78% respectively compared to the previous year.
The challenging export market has made it difficult for businesses to secure orders and acquire capital for raw materials, affecting the reserve of fishermen. To support fishermen and maintain production, companies have increased processed tuna production and explored new markets. However, export orders have sharply decreased, resulting in increased inventories. Additionally, rising input costs have led most businesses to operate cautiously and seek state support.
Compiled by Thuy Linh
(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.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(seafood.vasep.com.vn) Congalsa has acquired the entire charter capital of Lenger Seafood Vietnam, giving it full ownership of the business and its Nam Dinh processing facility.
(seafood.vasep.com.vn) Ninh Binh Province is entering a peak period of action against illegal, unreported and unregulated (IUU) fishing, focusing on thoroughly addressing violations, closely monitoring fishing vessels at ports and preventing vessels from violating regulations and operating illegally in foreign waters ahead of the European Commission’s (EC) upcoming inspection in 2026.
(vasep.com.vn) The application of biotechnology in seed production is increasingly viewed as a strategic imperative to upgrade pangasius fingerling quality, optimize farming efficiency and anchor sustainable industry development.
(vasep.com.vn) On September 15, 2026, in Can Tho, VASEP and ASC jointly organized a training course titled “New ASC standards: updates and practical implementation guidance for farms, businesses and aquafeed mills”. Beyond briefing stakeholders on updated ASC requirements for aquaculture facilities and feed production, the workshop dedicated substantial floor time to directly addressing on-the-ground compliance bottlenecks encountered by Vietnamese enterprises.
(searfood.vasep.com.vn) Vietnam’s tilapia exports continued to post positive results in the first eight months of 2026, with total export value reaching US$90 million, up 43% year-on-year. However, exports in August alone stood at US$11 million, down 8%, reflecting uneven market developments. Brazil remained the leading market, while Japan recorded notable growth, opening up new opportunities for Vietnamese tilapia products.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.3 billion in the first eight months of 2026, up 12% year on year. However, growth has begun to slow and become more differentiated across markets, while the U.S. and EU continue to present significant challenges. The latest insights from the Global Shrimp Forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers increasingly focus on quality, product specifications, supply stability and the ability to meet market-specific demand.
(seafood.vasep.com.vn) In August 2026, Vietnam’s seafood exports reached $1.14 billion, up 6% year on year. Cumulative eight-month exports rose 11.8% to $8.00 billion, though momentum has cooled compared to the 12.8% growth seen through July. China - Hong Kong and ASEAN are offsetting weakness in the U.S, EU and partly Japan. This divergence will likely widen in Q4 as trade tariffs and traceability requirements directly weigh on new orders.
(seafood.vasep.com.vn) Vietnam–Russia relations are entering a new phase of cooperation, with a focus on expanding trade, investment and economic connectivity. Against this backdrop, tuna is emerging as one of the seafood products with significant growth potential in the Russian market. Export data for the first seven months of 2026 show strong growth in Vietnamese tuna exports to Russia. However, turning this momentum into sustainable market share will require businesses to address challenges related to logistics, payment and supply competition.
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