Vinh Hoan Seafood (VHC): Exports to the U.S., EU, and China grow by up to 40%

News 08:54 02/01/2025
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.

Vinh Hoan Corporation (Vinh Hoan Seafood, stock code VHC, listed on HoSE) reported total revenue of VND 968 billion for November 2024, marking a 13% increase compared to November 2023 but a 20% decrease compared to October 2024.

Regarding the structure, revenue from pangasius products accounted for 54% of total revenue in November 2024, amounting to VND 524 billion, a 39% increase year-on-year. By-product revenue made up 17.7%, reaching VND 171 billion, a 48% increase. Conversely, revenue from other products, health products, rice noodles, rice cakes, shrimp chips, and value-added products all declined compared to the same period in 2023.

Regarding the market structure, in November 2024, the majority of Vinh Hoan Seafood's revenue came from the U.S. market, which generated VND 298 billion, a 40% increase year-on-year. The Vietnamese market followed with VND 297 billion, reflecting a 9% decrease. Meanwhile, revenue from the Chinese and EU markets both grew by 32%, reaching VND 80 billion and VND 163 billion, respectively.

According to Viet Dragon Securities (VDSC), Vinh Hoan’s gross profit margin in Q4 2024 is unlikely to grow significantly compared to Q3 2024, due to rising raw fish prices and the end of the festive season. Market data shows that raw fish prices in November 2024 rose to VND 28,000/kg, up from the VND 26,000–27,000/kg range in April.

Amid rising input costs, Vinh Hoan plans to negotiate higher selling prices to stabilize gross margins. However, VDSC believes this is unlikely to succeed, given declining inventory demand as the festive season has passed in some markets.

However, VDSC notes that if former President Donald Trump decides to impose import tariffs on Chinese seafood at rates between 60% and 100%, significantly higher than other countries' rates (10%–20%), the pangasius industry could benefit considerably. Vinh Hoan, whose largest export market is the U.S., stands to gain the most.

Currently, Vinh Hoan is Vietnam's largest exporter of frozen pangasius fillets to the U.S., commanding a 47% market share. In the most optimistic scenario, VDSC forecasts that Vinh Hoan's post-tax profit could reach VND 1.872 trillion by 2026.

vinh hoan eu market seafood exports pangasius exports

TIN MỚI CẬP NHẬT

IUU Enforcement Peak Campaign in Quang Ninh

 |  10:13 19/02/2026

(seafood.vasep.com.vn) With a range of synchronized solutions, from institutional improvements and strengthened communication to strict fleet control, Quang Ninh is stepping up efforts to combat illegal, unreported and unregulated (IUU) fishing, determined to join the country in soon having the European Commission’s (EC) “yellow card” lifted.

Vietnam’s shrimp exports hit a record USD 4.6 billion in 2025

 |  16:46 10/02/2026

(seafood.vasep.com.vn) The year 2025 closed with a remarkable milestone for Vietnam’s shrimp industry. According to Vietnam Customs, the country’s total shrimp export turnover in 2025 reached USD 4.6 billion, up 19% compared to 2024 and the highest level ever recorded.

Quang Tri converts over 770 fishing vessels

 |  09:14 08/02/2026

(seafood.vasep.com.vn) During the 2026–2030 period, Quang Tri province aims to convert 771 fishing vessels currently engaged in activities detrimental to marine resources and the ecological environment to more environmentally friendly fishing practices or shift entirely to other economic sectors.

Vietnamese tilapia market share surges in the U.S amid global supply volatility

 |  08:53 05/02/2026

(seafood.vasep.com.vn) 2025 recorded a breakthrough growth in Vietnam’s tilapia exports, in which the U.S market emerging as the primary growth driver. The total export turnover of Vietnamese tilapia to the United States reached $53.15 million during the year, surging 173% year-on-year and accounting for 54% of Vietnam’s total tilapia export value, thereby making the U.S the largest import market for this commodity. Compared to 2024, tilapia exports to the U.S posted robust growth, reflecting the import demand as well as the ability of Vietnamese enterprises to capitalize on market opportunities amidst volatile global competitive dynamics.

2025–2026: surimi & fish cake exports enter a new cycle – opportunities for Vietnam

 |  16:31 03/02/2026

(seafood.vasep.com.vn) After two consecutive years of decline, Vietnam’s fish cake and surimi exports rebounded in 2025. Export turnover of this product group exceeded USD 344 million, up 15% year-on-year compared with 2024 and 13% higher than 2023, although still below the peak level recorded in 2022.

Vietnam’s seafood 2025: Surging past headwinds and the the strategic pivot of market leaders

 |  09:05 27/01/2026

(seafood.vasep.com.vn) By the end of 2025, Vietnam’s seafood industry had left a strong mark with export turnover reaching nearly $11.3 billion, up 12.4% year-on-year. This robust performance reflects not only a rebound in global consumption demand but also the agile adaptation of domestic firms in navigating increasingly stringent trade barriers.

Vietnam’s fisheries sector targets output of over 10 million tons in 2026

 |  09:42 23/01/2026

(seafood.vasep.com.vn) According to the 2025 review and 2026 outlook conference held by the Directorate of Fisheries and Fisheries Surveillance on the afternoon of January 7, Vietnam’s seafood sector has set a total production target of over 10 million tons in 2026, representing a 0.6% increase year-on-year. Of this total, capture fisheries are projected at around 3.75 million tons (down 2.1%), while aquaculture output is expected to reach 6.25 million tonnes (up 2.2%) compared with 2025.

Sao Ta Achieves hits 2025 profit targets

 |  09:08 21/01/2026

(seafood.vasep.com.vn) Sao Ta Food JSC (Fimex, Ticker: FMC) has announced its 2025 business results, reporting revenue of over $300 million (approximately 7.8 trillion VND), representing a 19.8% increase year-on-year; projected profit is expected to reach approximately 420 billion VND.

10 strategic highlights of Vietnam’s fisheries industry in 2025

 |  07:45 19/01/2026

(seafood.vasep.com.vn) Vietnam’s fisheries sector concluded 2025 with landmark achievements: export turnover reached a record high, despite heightened volatility in global trade and increasingly stringent barriers from major markets, most notably the United States. Amid a mix of opportunities and challenges, the fisheries sector also witnessed important policy shifts. Together, these developments form a multifaceted picture of an industry proactively adapting and restructuring toward a trajectory of sustainable development.

Vinh Long reaches 7,500 hectares of high-tech shrimp farming

 |  08:58 15/01/2026

(seafoos.vasep.com.vn) According to the Department of Agriculture and Environment of Vinh Long, the province’s shrimp farming area reached 69,800 hectares in 2025, including 7,500 hectares under high-tech farming models, 18,820 tons of black tiger shrimp and 293,000 tons of whiteleg shrimp.

VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM

Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội

Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO

Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu

Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông

Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn

Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh

Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn

VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội

Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn

© Copyright 2020 - Mọi hình thức sao chép phải được sự chấp thuận bằng văn bản của VASEP

DANH MỤC