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  • China Dethrones US as Vietnam’s Top Seafood Consumer: A 40% YoY Increase

    China Dethrones US as Vietnam’s Top Seafood Consumer: A 40% YoY Increase

    In the first half of 2026, China became Vietnam’s largest seafood market, surpassing the United States. This shift resulted from an importation of Vietnamese seafood valued at nearly $1.4 billion, a 40% year-on-year increase. This accounted for almost a quarter of the $5.7 billion worth of Vietnamese seafood exports, a rise of 11.4%, as per the Ministry of Agriculture and Environment. Comparatively, the value of the U.S.’s imports was $898 million, while Japan, in third place, had $788 million worth of imports.

    Factors in Market Shift

    The rise in shipping costs has elevated China’s attractiveness due to its geographical closeness, according to Nam Viet Jsc, a seafood exporter. Furthermore, Le Hang, the Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers, noted that as the U.S. and Europe increased non-tariff barriers, many businesses turned towards China. She highlighted the U.S.’s requirement for businesses to provide extra admissibility certificates with a complex application process, particularly impacting tuna products. Additionally, shrimp exports faced high anti-dumping duties.

    Another contributing factor was the frontloading of shipments to the U.S., which led to significant inventories for importers in the country. This occurred during a period when consumers were restricting their spending and leaning towards lower-priced products.

    Adaptability and Future Outlook

    Hang stated that the growth in the first half was a reflection of the rebound in global demand and the adaptability of Vietnamese businesses, who adjusted their markets and product structures. Shrimp was the top export, valued at $2.3 billion (a 13.6% increase) and constituted over 40% of the total value. The demand from mainland China and Hong Kong primarily drove the growth. Moreover, exports of Pangasius, a white-flesh fish, increased by 12.1% to reach $1.1 billion, owing to Vietnam’s competitive pricing and the consistent demand in many markets.

    However, Hang predicts an uncertain future for exports in the second half of the year due to potential U.S. protectionist measures and trade barriers, ranging from regulations associated with “forced labor” to imposition of quotas on products. She emphasizes that in this rapidly evolving trade landscape, businesses must stay updated, adjust export plans, diversify markets, and increase the proportion of deeply processed products to manage risks and sustain growth.

    Questions & Answers

    What factors have contributed to China becoming Vietnam’s top seafood market?
    Shipping costs and non-tariff barriers in the U.S. and Europe have caused businesses to favor China. Additionally, China’s proximity to Vietnam makes it an attractive option.

    What was the largest exported seafood product from Vietnam?
    Shrimp was the top exported product, making up over 40% of the total export value and experiencing a 13.6% increase.

    What challenges do Vietnamese businesses face in the second half of 2026?
    They face potential U.S. protectionist measures and trade barriers, ranging from regulations related to “forced labor” to the application of quotas on products.

  • Vietnam’s Seafood Exports Surge by 8% in Q1 2026, Powered by Strong Chinese Demand

    Vietnam’s Seafood Exports Surge by 8% in Q1 2026, Powered by Strong Chinese Demand

    In the first quarter of 2026, Vietnam saw a nearly 8% increase in seafood exports, amounting to a substantial US$2.64 billion. A primary factor fueling this growth was robust demand from China.

    China’s Role in Vietnam’s Seafood Industry

    During this period, China remained the central seafood importer from Vietnam, with purchases amounting to approximately $764 million. This figure represents an almost 45% year-on-year increase. In March alone, the country’s seafood imports exceeded $250 million, a growth of over 50%. Not only is China the largest seafood importer, but it is also the biggest consumer of Vietnamese pangasius.

    The shrimp category witnessed significant growth, largely attributed to lobster exports. Despite this, exports of whiteleg shrimp, a key product in the U.S. and EU markets, remained consistent.

    Other seafood types, including crab, swimming crab, and molluscs, experienced increased demand across Asian markets. Moreover, tilapia exports skyrocketed by 190% year-on-year, reaching an estimated $35 million in the first quarter.

    The Impact of Other Markets

    China’s robust performance was instrumental in maintaining overall sectoral growth despite a drop in exports to several other markets. Seafood exports to the U.S. decreased by over 10% in the same quarter. This decline can be attributed to weak demand and technical barriers, including the Marine Mammal Protection Act’s Certificates of Analysis requirements and anti-dumping duties on shrimp. There was also a similar decline in exports to Japan and South Korea.

    While exports to the EU remained largely stable, those destined for ASEAN, Australia, and several emerging markets maintained their growth momentum.

    Driving Factors and Predictions

    According to Le Hang, the deputy secretary general of the association, several factors contributed to China’s emergence as the primary growth driver. These include seasonal consumption, steady demand, and advantageous logistics conditions.

    Increased consumption during the Lunar New Year boosted imports of whole shrimp, live seafood, and premium products. This seasonal surge contributed to a sharp increase in high-value items like lobster.

    Despite this growth, Hang warned that these figures may primarily reflect seasonal trends rather than a long-term structural recovery. This is because the increased exports were partly driven by stockpiling and festive demand, which could lead to a moderation of growth in the upcoming months.

    The seafood industry in Vietnam also faces intensifying competitive pressure, particularly from major suppliers like Ecuador. This competition underscores the need for diversification in Vietnam’s seafood industry.

    However, the association remains optimistic. They project that seafood exports will continue to grow in the second quarter, with shrimp and pangasius expected to be the primary growth drivers.

    Questions & Answers

    What was the value of Vietnam’s seafood exports in the first quarter of 2026?
    The value of Vietnam’s seafood exports in the first quarter of 2026 was US$2.64 billion.

    Who is the largest importer of Vietnamese seafood?
    China is the largest importer of Vietnamese seafood.

    What has been the impact of seasonal consumption on Vietnam’s seafood exports?
    Seasonal consumption, particularly during the Lunar New Year, has led to a surge in imports of various seafood items, contributing to the overall growth in Vietnam’s seafood exports.

  • Singapore’s Kelly Jie Seafood Honors Head Chef’s 20-year Service with Coveted Rolex Surprise

    Singapore’s Kelly Jie Seafood Honors Head Chef’s 20-year Service with Coveted Rolex Surprise

    Kelly Jie Seafood, a renowned dining establishment in Singapore, recently celebrated the long-standing commitment and expertise of their head chef by presenting him with a Rolex wristwatch. The timepiece was a token of gratitude for his relentless dedication and tireless service of 20 years.

    A video was shared on the restaurant’s social media platforms, capturing the unforgettable moment the head chef was gifted the luxury watch. He had always expressed a desire to own a Rolex, but had never personally purchased one. In response to his unfulfilled wish, the restaurant decided to surprise him and presented him with the coveted watch.

    The chef was taken aback when he discovered a Rolex box inside a paper bag, a reaction that echoed his surprise and delight. Overwhelmed by the unexpected present, he humorously enquired, “Is this really for me? Are you playing a practical joke on me?”

    When urged to try on his new watch, he jovially declined, stating his wrists were greasy from his culinary work. He was then provided with a sanitizer to clean his hands. On eventually draping the watch on his wrist, his face shone with a radiant and heartwarming smile.

    Through the post, Kelly Jie Seafood emphasized the invaluable contribution of the head chef in shaping the restaurant’s journey since its inception in 2006. He had provided steadfast guidance during the restaurant’s most daunting periods.

    The caption of the post read, “20 years of not just work, but also of unwavering loyalty, trust, and heartfelt dedication. We are grateful for your youthful energy, your strength, and your devotion to this place. Our success today is a testament to your efforts.”

    The touching post has garnered widespread attention, attracting thousands of views and comments. Several observers noted that the gift was a Rolex GMT-Master, with an estimated worth ranging from S$16,000 to S$30,000 (US$12,500 to US$23,450).

    Formerly operating under the name TPY Mellben Seafood, the establishment was founded by Kelly Soon, a celebrated television personality from the 1980s, fondly referred to as the ‘Anita Mui of Singapore’. The restaurant is famed for its zi char-style crab dishes and is currently under the proprietorship of the founder’s daughters, Rachel and Zara Lim.

    Questions & Answers

    What prompted Kelly Jie Seafood to gift their head chef a Rolex watch?
    The restaurant wanted to acknowledge the chef’s hard work, dedication, and 20 years of service, and knew he had always wanted a Rolex watch but never purchased one for himself.

    How did the chef react to receiving the Rolex?
    The chef was visibly surprised and joyful. Initially, he humorously asked if it was a prank, but when he put the watch on, his face lit up with happiness.

    How has the head chef contributed to Kelly Jie Seafood’s success?
    The head chef has been with the restaurant since its opening in 2006 and has guided it through some of its most challenging periods. His loyalty, trust, and dedication have been instrumental in its success.

  • Vietnam’s Seafood Exports Soar 13% in January Fueled by Asian Markets

    Vietnam’s Seafood Exports Soar 13% in January Fueled by Asian Markets

    In January, exports of seafood from Vietnam totaled US$874 million, a year-on-year increase of 13%. The Vietnam Association of Seafood Exporters and Producers noted that this boost was largely due to demand from Asian markets, particularly China, Japan, and ASEAN. Key product groups like pangasius, a type of catfish, as well as squid and octopus, contributed significantly to these robust export figures.

    Decline in U.S. Shipments

    However, U.S. shipments experienced a decline, especially in tuna exports. The downturn was attributed to factors such as the Marine Mammal Protection Act’s impact and difficulties in obtaining certificates of analysis for seafood exports, a crucial step in the export process.

    China Leads as Largest Seafood Market

    China solidified its position as Vietnam’s biggest seafood market in January; export values reached nearly $250 million, marking a 28.7% surge year-on-year. This uptick is mainly due to increased shrimp demand ahead of the Lunar New Year, a period when the consumption of premium seafood products usually escalates. Many businesses also seized the opportunity of this festive demand to increase their lobster shipments.

    Anticipated Seafood Export Downturn in February

    The Association anticipates a downturn in seafood exports in February. This prediction is based on disruptions to production and logistics during the Tet (Lunar New Year) holiday, persisting regulatory issues in the U.S., and a potential decrease in Chinese demand following an early period of stockpiling.

    Questions & Answers

    What caused the 13% increase in Vietnam’s seafood exports in January?
    The main factors contributing to this increase were robust demand from Asian markets, particularly China, Japan, and ASEAN, coupled with strong performance from key product groups like pangasius and squid and octopus.

    Why was there a decline in U.S. shipments of Vietnamese seafood?
    The decline in U.S. shipments can be attributed to the effects of the Marine Mammal Protection Act and challenges in obtaining certificates of analysis for seafood exports.

    Why is a downturn in seafood exports anticipated in February?
    The predicted downturn is due to potential disruptions in production and logistics during the Tet (Lunar New Year) holiday, ongoing regulatory challenges in the U.S., and an expected drop in Chinese demand after an early period of stockpiling.

  • Vietnam Targets $11.5B from Seafood Exports in 2026: A Sustainable Growth Strategy

    Vietnam Targets $11.5B from Seafood Exports in 2026: A Sustainable Growth Strategy

    Vietnam has set its sights on exporting more than 10 million tonnes of seafood, valued at $11.5 billion, in the course of the current year. This anticipated export volume signals a slight increase of 0.6% as compared to that of 2025, according to Pham Quang Toan, the deputy director general of the Department of Fisheries and Fisheries Surveillance who spoke at a recent conference.

    Understanding the Figures

    The forecast suggests that exports from capture fisheries may experience a slight decrease of 2.1%, landing at roughly 3.75 million tonnes. However, the aquaculture sector is projected to see an increase of 2.2%, amounting to approximately 6.25 million tonnes.

    The director general of the department, Tran Dinh Luan, shared insights into the future direction of Vietnam’s seafood sector. According to him, the sector is poised to progressively scale back capture fisheries while concurrently enhancing aquaculture practices. This transition is intended to be sustainable and resilient to climatic changes in order to boost competitiveness.

    Luan also emphasized a strategic shift from a production-oriented approach to a fisheries economy perspective. Moreover, the focus will be on moving from singular value growth towards integrated multi-value development.

    A Look at Past Performance

    Based on data from the Department of Fisheries and Fisheries Surveillance, the total output of seafood in 2025 was 9.95 million tonnes. This represents an increase of 3% from the previous year. Of this, capture fisheries contributed 3.83 million tonnes, which was almost identical to the volume in 2024. In contrast, the output from aquaculture rose by 5.1% to reach 6.1 million tonnes.

    The revenue from seafood exports was more than $11 billion last year, marking an impressive increase of 12.7%.

    Questions & Answers

    What is the projected seafood export volume for Vietnam in the current year?
    The anticipated seafood export volume for Vietnam is over 10 million tonnes.

    What changes are expected in the export volumes of capture fisheries and aquaculture?
    Capture fisheries exports are expected to decrease by 2.1%, while aquaculture exports are projected to increase by 2.2%.

    What was the seafood export turnover for Vietnam in 2025?
    The seafood export turnover for Vietnam in 2025 was estimated at over $11 billion.

  • Vietnam’s Aquatic Exports Soar to Historic Heights, Anticipating $11.3B Record Despite Global Challenges

    Vietnam’s Aquatic Exports Soar to Historic Heights, Anticipating $11.3B Record Despite Global Challenges

    Vietnam’s seafood exports have consistently shown strong growth, and they are on track to reach an unprecedented high this year, despite certain obstacles. In the initial 11 months of 2025, the total revenue from seafood shipments was over US$10.5 billion, marking an increase of 14.6% compared to the same period in the previous year, as reported by the Vietnam Association of Seafood Exporters and Producers.

    Breakdown of Seafood Exports

    Among the various types of seafood, shrimp was a significant contributor to the overall growth, generating $4.31 billion, representing a 21.2% increase year-on-year. Pangasius, a type of catfish, brought in over $2 billion, a rise of 9%, and tuna accounted for $855.7 million. Furthermore, molluscs, marine fish, and value-added products all experienced growth in the double digits.

    Major Export Markets

    Countries that are part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) were the primary recipients of Vietnam’s seafood exports, accounting for 27.2% of total shipments. The volume of exports to these nations grew by 24.3% year-on-year.

    China and the EU also saw significant increases in shipments, with growth of 30.6% and 11.9% respectively. Additionally, exports to the U.S. increased by 8.1%, reaching $1.78 billion.

    Le Hang, the deputy general secretary of the association, observed that the success of Vietnam’s seafood exports, in spite of an unpredictable global market, is a testament to the strategies adopted by its exporters, which are both proactive and adaptable.

    Outlook for December and the Future

    The exports are expected to experience a minor decline in December due to seasonal impacts and a cautious approach from exporters dealing with the U.S., as several businesses have chosen to temporarily limit new orders from the U.S. due to the impending guidance on its Marine Mammal Protection Act. However, shrimp shipments may not be significantly affected due to steady demand from Japan, the EU, and CPTPP nations.

    Looking at the current data and end-of-year projections, it is anticipated that the annual revenue from seafood exports will reach somewhere between $11.2 and $11.3 billion, which would be the highest figure to date. Shrimp exports are projected to exceed $4.6 billion, thereby setting a new record, and it is forecasted that the shipments of pangasius will surpass $2.1 billion due to the recovering demand in Asia. Tuna exports are also estimated to surpass $900 million.

    Questions & Answers

    What factor contributed the most to the growth in Vietnam’s seafood exports?
    The largest contributing factor to the growth in Vietnam’s seafood exports was shrimp, which generated $4.31 billion and saw a 21.2% increase compared to the previous year.

    How have Vietnam’s seafood exports fared in the global market?
    Despite uncertainties in the global market, Vietnam’s seafood exports have shown consistent growth due to the proactive and adaptable strategies of its exporters.

    What is the projected revenue from Vietnam’s seafood exports this year?
    Based on current data and end-of-year predictions, the annual revenue from seafood exports will likely reach between $11.2 and $11.3 billion, which would be the highest figure to date.

  • Radiation-Safe Indonesian Shrimp Lands on US Shores: A Triumph in Seafood Exports

    Radiation-Safe Indonesian Shrimp Lands on US Shores: A Triumph in Seafood Exports

    Indonesia has recommenced its shrimp exports to the United States with a hefty haul of 182 tonnes, valued at IDR25 billion, or approximately US$1.5 million. Importantly, these shipments come bearing certification of being free from Cesium-137 contamination.

    Regaining Market Trust

    Wahyu Sakti Trenggono, Indonesia’s Minister of Maritime Affairs and Fisheries, shared this encouraging news during an event at the Tanjung Priok Port in North Jakarta. He revealed that this marked the second such shipment since the Indonesian government confirmed that their shrimp products adhere to international radiation safety standards. This development seems to suggest that the confidence of the U.S. market in Indonesian shrimp is gradually being restored.

    Ensuring Radiation Safety

    Trenggono also explained that the assurance of the absence of Cesium-137, a radioactive isotope, was made possible through a collaborative effort between the fisheries ministry, the National Research and Innovation Agency, and the Nuclear Energy Regulatory Agency. This cross-institutional cooperation played a crucial role in ensuring the safety and international standard-compliant status of the shrimp exports.

    Quality Assurance

    The head of the MMAF Quality Assurance Agency, Ishartini, provided further insights into the certification process. She disclosed that the U.S. Food and Drug Administration (USFDA) had duly recognized their agency as a certifying body as of October 31 this year. As a result, only fishery products that successfully pass the Certificate of Quality and Safety of Fisheries Products (SMKHP) and radiation tests will be approved for export with this certified status.

    Following the approval, Indonesia had previously exported 121 containers of shrimp in October, after the fisheries ministry executed radiation scanning of a total of 920 containers destined for the U.S.

    Questions & Answers

    What is the significance of the recent shrimp shipment from Indonesia to the U.S.?
    The shipment indicates a recovery of U.S. market trust in Indonesian shrimp products after they were certified free from Cesium-137 contamination.

    Who issued the certification of freedom from Cesium-137 for the shrimp exports?
    The certification was issued through a collaboration between Indonesia’s fisheries ministry, the National Research and Innovation Agency, and the Nuclear Energy Regulatory Agency.

    What criteria must Indonesian fishery products meet to be approved for export to the U.S.?
    Fishery products must pass the Certificate of Quality and Safety of Fisheries Products (SMKHP) and radiation tests to be considered for export to the U.S.

  • Vietnam Navigates Stormy Trade Seas, Eyes $11B Seafood Export Milestone Amid Global Demand Surge

    Vietnam Navigates Stormy Trade Seas, Eyes $11B Seafood Export Milestone Amid Global Demand Surge

    Vietnam’s seafood export industry is on track to hit its projected target of $11 billion this year, despite experiencing slower growth in exports to the U.S. due to increased tariffs. In the first 10 months of the year, exports witnessed a 15% year-on-year increase and reached a figure of $9.5 billion. This surge was primarily driven by shrimp exports, which contributed to more than 40% of the total exports, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

    U.S. Export Slowdown

    The third quarter saw a slow down in exports to the U.S., particularly in shrimp and pangasius, following the 20% tariff on seafood imports from Vietnam, which was implemented in August. However, this slump has not hampered overall growth.

    Emerging Markets and Opportunities

    Promising opportunities for export growth are emerging in other markets, particularly China. In the first 10 months of the year, China purchased over $2 billion worth of seafood from Vietnam, marking a significant increase of 32%. The main products exported to China include lobster, marine fish, and live crab, with demand consistently on the rise.

    Despite a weakening yen, exports to Japan also increased, witnessing a 15.2% rise to $1.4 billion. Other rapidly expanding markets include Canada and Australia.

    Challenges Ahead

    Despite the promising figures, VASEP has cautioned that the fisheries sector could encounter challenges in the coming year. The main concerns comprise the increased tariffs, potential impacts of the U.S. Marine Mammal Protection Act, and the likelihood of the E.U. maintaining its yellow card on Vietnam due to illegal, unreported, and unregulated fishing.

    The competition presented by India, Ecuador, and Indonesia is also expected to intensify in the near future, adding to the list of potential hurdles.

    Questions & Answers

    What factors have contributed to Vietnam’s seafood export growth this year?
    The main factors include a surge in shrimp exports and increasing demand from markets such as China, Japan, Canada, and Australia.

    What challenges could potentially impact the seafood export industry in Vietnam?
    Increased tariffs, potential ramifications from the U.S. Marine Mammal Protection Act, the likelihood of the E.U. continuing its yellow card on Vietnam for illegal fishing practices, and rising competition from India, Ecuador, and Indonesia could pose challenges.

    What is the projected seafood export target for Vietnam this year?
    Vietnam aims to achieve a seafood export target of $11 billion this year.

  • Asia Pacific Sees Food Delivery Market Surge to 23% Amid Growing Consumer Demand

    Asia Pacific Sees Food Delivery Market Surge to 23% Amid Growing Consumer Demand

    In a remarkable shift, delivery has emerged as the leading channel in Asia Pacific’s foodservice market, skyrocketing from 10% in 2019 to a projected 23% by 2024, according to the latest insights from Euromonitor International. This evolution is part of a larger trend, with the region now accounting for a staggering 40% of global foodservice sales and poised to grow at an impressive 6% compound annual growth rate (CAGR) through 2029.

    Globally, the appetite for delivery services has also doubled, constituting 21% of the market in 2024, up from just 9% in 2019. Even against a backdrop of inflation and economic uncertainty, the global foodservice sector expanded by 5.5% in 2024, reaching a hefty $3.2 trillion. Asia Pacific contributed significantly, hitting $1.3 trillion— a 6% increase from 2023 and surpassing pre-pandemic levels.

    “Inflation and economic uncertainty weigh heavily on consumers,” remarked Rocio Franco, senior consultant at Euromonitor International. “While transaction levels have rebounded to pre-pandemic figures, signaling robust demand within the industry, consumers are increasingly selective, opting for budget-friendly dining choices.”

    Looking ahead, delivery is expected to climb to 26% of Asia Pacific’s foodservice market by 2029, while traditional dine-in options will likely plateau at 64%. The surge is largely fueled by third-party delivery apps that entice customers with aggressive discounts, loyalty incentives, and waived service fees, driving order frequency through the roof. Limited-service restaurants are also thriving, catering to price-sensitive consumers with smaller, more affordable menu items.

    “For restaurant operators, the challenge lies not only in competitive pricing but also in creating memorable experiences, embracing digital strategy, and fostering brand loyalty,” Franco added, shedding light on the new rules for thriving in this dynamic market.

    Among the standout segments, specialist coffee and tea shops experienced an impressive 13% growth in 2024, totaling $39 billion in the Asia Pacific region. Seen as affordable luxuries, these establishments are rapidly proliferating, particularly in cities like Singapore, as they expand their offerings and footprint.

    Questions & Answers

    What is the current market share of delivery services in Asia Pacific’s foodservice sector?
    Delivery services have surged to account for 23% of Asia Pacific’s foodservice market in 2024, a significant increase from just 10% in 2019.

    How has the global foodservice market performed in the face of economic uncertainties?
    Despite inflation and economic challenges, the global foodservice industry grew by 5.5% in 2024, reaching $3.2 trillion, with Asia Pacific seeing a robust growth to $1.3 trillion.

    What strategies should restaurant operators consider to remain competitive?
    Operators are encouraged to focus on providing value beyond just price, enhancing customer experiences, harnessing digital tools, and cultivating brand loyalty to thrive in the current market landscape.

  • China replaces US as Vietnam’s largest shrimp export market

    China replaces US as Vietnam’s largest shrimp export market

    China imported US$834 million worth of Vietnamese shrimp last year, surpassing the U.S. as the largest buyer of the seafood.

    According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the figure marked an increase of 39% year over year.

    The decline in China’s supply due to unfavorable weather conditions is among the factors attributed to the import hike, VASEP said.

    Ecuador’s reduced shrimp shipment to China allowed Vietnamese exporters to snap up sale opportunities, which were also driven up by China’s many policies to promote general domestic consumption of goods, it added.

    In total Vietnam’s shrimp exports in 2024 reached $3.9 billion, up 14% from 2023.

    It was the biggest category in Vietnam’s seafood exports, which reached $10 billion.

    Pangasius contributed $2 billion. Vietnam’s shrimp exports to China seem to remain strong this year. In the first two weeks of January exports jumped 191% to $51 million.

    China was also the largest buyer of Vietnamese lobster last year, accounting for about 99% of total exports volume.

    VASEP advises exporters to prioritize lobster, salmon, and king crab this year as consumers have shown steady demand for them.

  • Shrimp exports expected to hit $4B in 2024

    Shrimp exports expected to hit $4B in 2024

    With double-digit growth in key markets, Vietnam’s shrimp exports are projected to rake in $4 billion in 2024, according to insiders.

    While this figure is lower than the record of $4.3 billion achieved in 2022, it marks a strong recovery compared to 2023, when shrimp exports totalled only $3.4 billion. This recovery highlights the resilience of the shrimp industry as it continues to regain momentum.Vietnam’s shrimp exports showed impressive growth in the first 11 months of 2024, reaching nearly $3.6 billion, a 22% increase compared to the same period last year.

    According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the shrimp sector is performing well in several key markets. Exports to both US and European Union have shown consistent growth, while China’s recent policies to stimulate domestic consumption could further drive demand for Vietnamese shrimp.

    Along with an uptrend in shrimp export prices, the processed shrimp sector is growing rapidly, marking a shift towards higher value-added products.

    However, experts held that the Vietnamese shrimp industry faces significant challenges that need to be addressed to ensure sustainable growth.

    Tran Dinh Luan, Director of the Fisheries Department under the Ministry of Agriculture and Rural Development, stressed that, to compete on the international market, Vietnam must improve shrimp quality and reduce production costs. Key issues include enhancing the quality of shrimplets, managing breeding cycles, controlling diseases, lowering production costs, and accurately forecasting the consumption patterns of importing markets. Addressing these challenges is vital to improving the shrimp value chain and boosting farmers’ incomes.

    Meanwhile, diseases on shrimps are considered a threat to the production and quality of shrimp products, he said.

    Phan Thanh Lam at the Research Institute for Aquaculture No. 2 noted that upgrading the shrimp industry’s value chain is a significant challenge, noting the industry’s poor linkages between production and consumption, and small scale of the majority of shrimp producers.

    Tran Ngoc Hai at the Can Tho University highlighted the importance of adopting high-tech, environmentally friendly shrimp farming practices that are resilient to climate change. The industry must also focus on meeting international standards and linking production across the value chain to better serve market demands.

    Despite environmental, disease, and production challenges, Luan highlighted that Vietnamese shrimp businesses have introduced many innovative solutions, such as applying new technologies and improving infrastructure. These efforts are helping to reduce emissions, extend the value

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  • Shrimp exports surge 13% in 10 months

    Shrimp exports surge 13% in 10 months

    Vietnam’s shrimp exports soared by 13% year-on-year to US$3.2 billion in the first 10 months of 2024.

    They reached $394 million in October alone, a 24% increase from a year earlier, according to the Vietnam Association of Seafood Exporters and Producers.

    Shipments to major markets saw double-digit growth in the first 10 months, signaling a strong recovery in demand.

    Notably, shrimp exports to mainland China and Hong Kong totaled $676 million during the period, a year-on-year growth of 31%.

    Lobster exports surged by an extraordinary 157% to $298 million in the same period as China’s consumer stimulus policies have increased its imports of this product.

    Shrimp exports to the EU rose by 32% to $408 million, a 17% year-on-year increase. Demand from this market has experienced consistent growth since April.

    The U.S. imported $646 million worth of shrimp from Vietnam in the first 10 months, up 10% from a year ago.

    A decline in supply from the three largest producing nations, improved market sentiment and reduced inventories have boosted the U.S.’ shrimp imports.

    Prices are expected to rise with U.S. President-elect Donald Trump’s proposed import tax increases, so businesses there are in a rush to increase imports before the new tariffs take effect.

    Shrimp exports to Japan and the Republic of Korea also showed significant recovery in October, growing by 18% and 28% year-on-year, respectively, after a period of instability.

    Export shrimp prices, especially for white-leg shrimp, are on an upward trend, significantly improving profit margins for businesses.

    Additionally, processed shrimp products are experiencing robust growth, highlighting Vietnamese enterprises’ focus on high-value products.

    With this growth trajectory, shrimp exports are likely to reach $4 billion this year.

  • Vietnam fetches $227M from crab exports

    Vietnam fetches $227M from crab exports

    Crab exports in the first nine months surged 66% year-on-year to $227 million, the strongest growth recorded among major fishery products.

    The rise in sales came as major markets, especially China, pumped up demand for Vietnamese crabs, the Vietnam Association of Seafood Exporters and Producers (VASEP) said in a report.

    Japan was also a major market as Vietnamese high-quality crabs are priced competitively there.

    Crab exports are expected to hit $300 million for the whole year.

    Fishery exports in total rose 8.5% to $7.16 billion in the first nine months. Shrimps led the gain with a 10.5% growth.

    VASEP forecasts that Vietnam’s seafood exports in 2024 can grow 7% to $9.5 billion, with shrimp, pangasius, tuna, squid and octopus making up the bulk of delivery.

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  • Seafood exports to key markets rise 64%

    Seafood exports to key markets rise 64%

    Vietnam’s seafood exports rose by 64% year-on-year in January to nearly US$750 million, with shipments to China, the U.S. and the EU seeing sharp increases.

    Exports to China tripled, the Vietnam Association of Seafood Exporters and Producers (VASEP) said without providing specific figures.

    It said China, including Hong Kong, is Vietnam’s second biggest seafood market after Japan.

    Exports to Japan rose 43%. The increase were 63% to the U.S. and 34% to the E.U.

    But exporters said challenges that could hamper their recovery persist.

    Shrimp companies said global demand remains weak and therefore prices are low, they still have large inventories and are having difficulty competing with their Indian and Ecuadorian rivals.

    Diseases are also hitting shrimp output, they added.

    Pangasius prices increased by 11% to VND29,000 per kilogram in January.

    They expect a 10% increase in exports to $2 billion this year.

    VASEP said seafood exporters in general are facing difficulties due to geopolitical tensions in the Red Sea and the Russia-Ukraine conflict, which have caused shipping costs to soar.

    VASEP expects seafood exports to increase marginally to $9.5 billion this year.

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  • Vietnam’s export sees marginal impacts from China’s Japanese seafood ban

    Vietnam’s export sees marginal impacts from China’s Japanese seafood ban

    China’s ban on Japanese seafood due to fear of radioactive contamination has Vietnamese firms seeing opportunities to ship more products, but the gain has been marginal as Chinese demand drops.

    On August 24, China imposed a total ban on Japanese seafood products after the latter started discharging its treated radioactive water from the wrecked Fukushima nuclear power plant into its seawater.

    Hong Kong and Macau have also announced their own ban, which covers Japanese seafood imports from 10 regions.
    The CEO of a Vietnamese seafood exporter from Nha Trang in the central region said that the ban might help increase the export of some products, such as tuna.

    “We have seen Chinese buyers increasing their orders for tuna by 15% year-on-year. But demand for shrimp and octopus are still 20% lower year-on-year.”

    Some other industry insiders have also said that the ban might offer opportunities for Vietnamese seafood, but only slightly, as Japan is only a small seafood exporter to China.

    Japan accounted around 3% of China’s seafood imports last year, against Ecuador’s 18.6%, Russia 14.4%, and Vietnam’s 8.8%.
    Pangasius, one of Vietnam’s main seafood exports, has not seen any notable increase in China shipments amid low demand, according to a report by SSI Research.

    “Pangasius exports to China rose slightly last week but was not significant and irrelevant to the ban,” the report said.
    The Vietnamese seafood industry has been facing a tough year as demand from major markets such as the U.S., the E.U. and China all plunged amid rising inflation and economic challenges.

    Exports of pangasius to China dropped 32% year-on-year to $325 million, and shrimp fell 9% to $338 million, according to Vietnam Association of Seafood Exporters and Producers (VASEP).

    VASEP general secretary Truong Dinh Hoe said that Vietnamese exporters will not benefit significantly from the ban.

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