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
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
(seafood.vasep.com.vn) In 2025, the fisheries sector continued to stand out as a bright spot in Ca Mau’s economic landscape, maintaining positive growth in both output and value.
(seafood.vasep.com.vn) By the end of November 2025, Vietnam’s total pangasius export turnover had exceeded the $2 billion threshold, registering a 9% compared with the same period in 2024. In November alone, pangasius exports reached $195 million, also posting a 9% increase year-on-year, underscoring a stable recovery trajectory for the sector in the final months of the year.
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(seafood.vasep.com.vn) An Giang is focusing on expanding climate-adaptive marine aquaculture models, aiming for safe and sustainable production. This approach not only enhances economic efficiency but also helps fishermen stabilize their livelihoods amid weather fluctuations.
(seafood.vasep.com.vn) In the first 10 months of 2025, Vietnam’s pangasius export value to China (including Mainland China and Hong Kong) reached $483 million, up 1% compared to the same period in 2024. October alone posted $73 million, a strong 19% increase year-on-year. The Chinese market currently accounts for nearly 27% of Vietnam’s total pangasius export value.
(seafood.vasep.com.vn) According to data from Vietnam Customs, the country’s lobster exports posted another strong month in October 2025, reaching $93 million - a 75% increase from the same month in 2024. This performance extends the sector’s impressive growth streak from earlier in the year, pushing cumulative exports for the first 10 months to $712 million, up an extraordinary 135% year-over-year. Within the product mix, green lobster remained the dominant driver, accounting for 98% of total export value, with $700 million recorded in the first 10 months - a 141% jump year-on-year. In contrast, exports of spiny lobster and other lobster varieties declined slightly by 22% and 1%, respectively, indicating that market demand is becoming increasingly concentrated on the most sought-after product line.
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