New data released by the General Department of Vietnam Customs shows that Vietnam's pangasius export turnover to the UK in the first half of August 2024 reached 3.5 million USD. Accumulated from the beginning of the year to August 15, 2024, the total pangasius export turnover to the UK reached 38 million USD, down 8% over the same period.
The Vietnam Association of Seafood Exporters and Producers (VASEP) considers the UK to be one of the important markets, consuming many value-added products from Vietnamese pangasius.
Notably, in the first 7 months of 2024, Vinh Hoan Joint Stock Company (Vinh Hoan Seafood, stock code VHC-HHoSE) is the largest pangasius exporter to the UK, accounting for 32% of Vietnam's total pangasius output exported to this market.
In terms of business activities, in the first 6 months of this year, Vinh Hoan Seafood recorded net revenue of VND 6,051 billion, up 22% over the same period last year. However, due to a sharp increase in the cost of goods sold, after-tax profit decreased by 22% to VND 529 billion. Thereby, completing 66% of the profit plan for the whole year.
As analyzed by Industry and Trade Magazine, Vinh Hoan Seafood is still tending to maintain low selling prices to boost output. With this strategy, Rong Viet Securities believes that the export output of pangasius fillets of Vinh Hoan Seafood in the second half of this year will increase by 5% compared to the first half of the year, equivalent to an increase of 25% compared to the same period in 2023.
At the same time, the company's profit margin will gradually improve in the following quarters in the context of recovering selling prices and decreasing prices of animal feed and raw fish.
With the above conditions, Rong Viet Securities forecasts that the parent company's after-tax profit this year of Vinh Hoan Seafood will reach VND 1,193 billion, an increase of 30% compared to 2023.
In addition, Vinh Hoan Seafood is also promoting the development of collagen and gelatin, which helps the company handle by-products in the pangasius processing process while creating products with high added value and closing the production and business value chain.
A Vinh Hoan Aquaculture representative said that utilizing by-products can increase the value of the entire pangasius farming and processing chain of the company by 15-20%.
Rong Viet Securities assessed that Vinh Hoan Aquaculture's Collagen & Gelatin segment will maintain a double-digit CAGR growth rate for the period 2024–2032, higher than the overall growth potential of the collagen market when the company increases factory capacity to meet consumption demand.
Regarding exploiting the UK market, VASEP said that in the period from the beginning of February to the end of July 2024, Vietnam's pagan export turnover to this market continuously decreased. The main reason was the erratic increase and decrease in export prices, although the export volume during this period increased by 8%.
To expand the market in the UK and effectively take advantage of the benefits of the UKVFTA (Vietnam-UUK & Northern Ireland Trade Agreement), pangasius exporting enterprises need to improve technology, enhance product quality, and invest in modern digital marketing tools to widely promote their products, VASEP recommends.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
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
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Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn