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) In the first three months of 2026, Vietnam’s exports of fish cake and surimi reached USD 63 million, down 5% compared to the same period last year. Although total export value declined slightly due to decreases in some key markets, many other destinations continued to post strong growth, opening up room for this convenience-oriented processed segment in the coming quarters.
(seafood.vasep.com.vn) Favorable weather conditions in the early months of 2026 have brought encouraging signs for fisheries activities in Quang Tri. Output has grown steadily, contributing to improved livelihoods for local residents.
Entering 2026, Vietnam’s seafood industry is facing a period of both high expectations and mounting pressures. Following the positive recovery in 2025, production and export activities in Q1/2026 demonstrated the strong adaptability of Vietnam’s seafood business community amid continued global trade volatility, intensifying international competition, and increasingly stringent compliance requirements in import markets.
(vasep.com.vn) In the first quarter of 2026, Vietnam’s shrimp exports reached USD 1.069 billion, up 17.5% compared to the same period in 2025. This is a positive result amid an uneven global shrimp market recovery, intensifying competition among major suppliers, and continued volatility in the international trade environment. However, this growth does not reflect a broad-based recovery across the entire sector, but rather is driven mainly by strong performance in a few markets and specific product segments—most notably lobster exports to China.
(seafood.vasep.com.vn) Vietnam’s tuna exports continued to decline in March 2026. Cumulatively, in the first three months of the year, export value reached USD 208 million, down 4% compared to the same period in 2025. The export landscape shows clear divergence across markets: while the U.S. and EU remain challenging, markets such as Russia, the Middle East, Egypt, the Philippines, and Mexico have emerged as growth bright spots.
(seafood.vasep.com.vn) In Quang Ngai Province, shrimp farming costs are rising sharply due to लगातार increases in feed, fuel, and input material prices, while farm-gate shrimp prices are declining. This has significantly reduced farmers’ profit margins and increased production risks.
(seafood.vasep.com.vn) Vietnam’s tilapia exports are experiencing impressive growth, reflecting expanding global demand as well as the sector’s development potential. However, behind the strong growth figures lie limitations in production capacity and supply chains, highlighting the need for sustainable development in the coming period.
(seafood.vasep.com.vn) Vietnam’s pangasius exports to the Middle East in 2025 and early 2026 have shown notable growth. However, escalating geopolitical tensions in the region have increasingly impacted export activities since March. This situation presents a challenge of balancing market expansion opportunities with rising trade risks.
(seafood.vasep.com.vn) The Quang Tri Department of Agriculture and Environment has instructed localities to base their stocking schedules on actual conditions in each farming area, while developing plans, allocating resources, and implementing synchronized measures for disease prevention and disaster risk management in aquaculture production.
(seafood.vasep.com.vn) In the first two months of 2026, Vietnam’s exports of fish cakes and surimi exceeded USD 45 million, up 7% compared to the same period in 2025, indicating a positive outlook for this product segment amid recovering demand in many markets.
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