The US economy is unstable, gasoline and electricity prices have “cooled down”, but food prices are still high. The US consumers, especially the low-income class, had to change their diets and food purchase channels. There has been a trend that many consumers consider choosing chicken, beef or pork instead of seafood. Grocery stores with discount programs often have better sales than large supermarket channels. More and more people are choosing to buy home-cooked food to save money.
Any changes from the largest market has strongly affected the results of Vietnam's seafood export and the business situation of many enterprises. With $283 million, down 51% in the first quarter, the US is no longer Vietnam's No. 1 seafood market.
Japan has surpassed the US to become the largest import market of Vietnamese seafood
Japan has surpassed the US to become the largest import market of Vietnamese seafood, although exports to this market decreased by 7%, reaching over 322 million USD in the first quarter of 2023. The structure of seafood exports to Japan is leaning more towards seafood products such as squid, scad, pollock, tuna, grouper.
Japan is Vietnam's largest marine products consumption market, mainly in the marine fish segment, in which a significant part of raw fish is imported from Japan to Vietnam, processed and re-exported to this country. Therefore, seafood exports to Japan increased by 10% while the export of seafood products to other major markets such as the US, Korea and China, the EU all decreased by 6% - 45%.
Many enterprises are expecting the opening of the Chinese market will boost imports, offsetting the decline of other major markets. In the first two months of 2023, China's seafood imports from other countries increased by 32%, reaching over 560 thousand tons, with a value of over $2.7 billion, up 20%. Thus, consumption demand is clearly increasing, but the decrease in import prices to this market has affected sales of Vietnam’s seafood. Particularly for pangasius, in the first 2 months of 2023, China imported 18.4 thousand tons with an average price of 2.15 USD/kg, down 7% compared to the same period in 2022.
Therefore, by the end of the first quarter of 2023, Vietnam’s seafood exports to this market were still 27% lower than the same period last year.
The EU market also decreased by 29% in the value of seafood imports from Vietnam in the first quarter, reaching only 210 million USD. Exports of shrimp and seafood products to the EU all decreased by 7-50%. Exports of pangasius were more stable, thanks to increased exports to the German market.
Exports to the top 5 largest markets in the EU including Germany, the Netherlands, Belgium, Italy and Spain all decreased by 4-44% over the same period. However, many small markets, especially countries in Eastern Europe, still increase imports of Vietnamese seafood, especially pangasius products. Specifically, seafood exports to Poland increased by 49%, to Lithuania by 29%, to Finland by nearly 4 times, and to Romania by 17%.
In the first quarter of 2023, most shrimp and pangasius exporters experienced a sharp decline in export value due to market difficulties and the pressure of too high input costs; rising feed prices, fish prices lead to high raw material prices. In particular, businesses whose traditional and main market is the US are affected the most.
Seafood processing and exporting enterprises also face difficulties because of the lack of domestic raw materials and more difficulties in the EU market, so many businesses experience a decrease in sales. However, some enterprises still have higher revenue compared to the same period last year thanks to the promotion of processing of wild-caught marine products, especially marine fishes.
The picture of seafood exports may gradually brighten in the second quarter and is expected to recover better from the third quarter when the Chinese market has a clearer improvement and seafood enterprises have adjusted their product structure and the market to adapt to the context of 2023.
Compiled by Thuy Linh
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached USD 1.9 billion in the first five months of 2026, up 12% compared with the same period last year. Amid continued volatility in the global seafood market, this result demonstrates that the shrimp sector has maintained positive growth momentum, supported by improving demand in several Asian markets, particularly China.
(seafood.vasep.com.vn) On June 16, the Department of Agriculture and Environment of Ca Mau Province announced that the locality has established a farming area code for nearly 30,400 hectares of mud crab aquaculture and granted export facility codes to five enterprises eligible to export mud crab officially to markets such as China, Cambodia, Singapore, and the United Arab Emirates (UAE).
(seafood.vasep.com.vn) The United States remains one of the largest export markets for Vietnamese pangasius. In the first four months of 2026, pangasius exports to the US reached USD 106 million, up 4% compared to the same period in 2025. In April 2026 alone, export value totaled USD 38 million, marking a 20% year-on-year increase and the first positive growth recorded after an extended period of decline.
(seafood.vasep.com.vn) While Vietnam’s shrimp exports to many major markets continued to post positive growth in the first months of 2026, exports to the United States declined, highlighting growing competitive pressures and trade barriers facing the Vietnamese shrimp industry.
(seafood.vasep.com.vn) Egypt is emerging as one of the most promising destinations for Vietnamese tuna exports in 2026. During the first four months of the year, export turnover to this market exceeded USD 7.3 million, marking a sharp increase compared to the same period over the previous two years. As Egypt’s tuna imports continue to recover and demand for canned tuna remains strong, the market is becoming increasingly attractive for Vietnamese tuna processors and exporters.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s pangasius exports to CPTPP member countries reached nearly USD 128 million, accounting for 18% of the country’s total pangasius export value and increasing by 21% compared to the same period in 2025. Demand patterns varied significantly across the bloc: Mexico primarily imported fresh and frozen pangasius products, while Japan and Canada recorded substantial shares of processed products. Australia remained focused on frozen fillets but continued to maintain a portion of processed imports.
(seafood.vasep.com.vn) Despite the slow recovery of the U.S. market and continued trade-related challenges facing Vietnam’s shrimp industry, Minh Phu Seafood Corporation (MPC) has set ambitious targets for 2026. The company aims to produce 68,800 metric tons of finished shrimp products, generate consolidated revenue of VND 19.9 trillion, and achieve VND 1.059 trillion in pre-tax profit. If achieved, these figures would represent the highest revenue and profit levels in the company’s history.
(seafood.vasep.com.vn) HungHau Foods Joint Stock Company (HungHau Foods) has been honored at the 33rd Asia-Pacific Economic Forum, receiving two prestigious awards: “Top 10 Outstanding Asia-Pacific Enterprises 2026” and “Top 10 Outstanding Entrepreneurs” awarded to HungHau Foods CEO, Ms. Nguyen Yen.
(seafood.vasep.com.vn) After a period of sluggish imports in 2025, the Chinese market has returned with strong shrimp purchasing momentum in the first months of 2026. However, alongside rising demand comes an increasingly stringent import control system, covering quarantine requirements, food safety standards, registration procedures, and traceability. This makes China a market that offers both significant opportunities and growing risks for Vietnamese shrimp exporters.
(seafood.vasep.com.vn) Recently, in Long Xuyen City, An Giang Province, the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) and the University of Economics Ho Chi Minh City (UEH) organized a workshop to announce the results of the project “Food Loss Assessment in the Pangasius Value Chain in the Mekong River Region.” The project aims to provide scientific evidence to support the sustainable development of Vietnam’s pangasius industry.
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
