NEWS - www.vnseafoods.com

Vietnam's fish cake and surimi exports reached over USD 80 million in Q1 2025, up 31% year-on-year. The products have expanded into new markets such as Russia, Spain, and the UK. With the global surimi market expected to grow significantly, Vietnam has strong opportunities to boost exports. However, the industry still faces challenges, including raw material shortages, rising costs, and unresolved export documentation issues.

Vietnam’s tuna exports reached over USD 228 million in Q1 2025, up 6% year-on-year. Growth to key markets like the U.S. and EU is slowing due to regulatory and tariff concerns. In contrast, exports to Russia, Canada, and Japan are rising. Exporters are advised to diversify markets and speed up shipments during the U.S. tariff suspension period.

Amid escalating U.S.–China trade tensions and soaring tariffs, seafood industry leaders warn that the ongoing container shortage may cause even greater disruption than the 145% tariff. The lack of containers is driving up logistics costs and hindering exports, especially across Asia and Europe.

In the first two months of 2025, Vietnam’s shrimp exports showed encouraging signs, with strong growth in key markets. China and Hong Kong emerged as the largest importers, while the US, Japan, the EU, and South Korea also maintained stable demand. Total shrimp export turnover in the first two months reached USD 605 million, up 46% compared to the same period in 2024.

In Q1 2025, Vietnam’s shrimp exports to the EU reached over US$107 million, up 33% compared to the same period last year. This strong performance reflects rising demand across Europe, effective use of EVFTA tariff preferences, and Vietnamese businesses’ efforts in product diversification.

In 2023, Vietnam's tilapia exports reached over USD 6 million, marking a 42% decline compared to 2022. The European Union (EU) remained the largest importer, accounting for USD 2 million, despite a 34% decrease. Notably, the fourth quarter saw consistent growth after a nine-month downturn. The United States followed, importing nearly USD 1 million worth of tilapia, a 71% drop from the previous year. However, December 2023 witnessed a surprising 78% month-over-month increase in exports to the U.S

Vietnam's shrimp exports in February showed mixed signals. While volumes decreased compared to January, they rose 16% year-on-year. Export prices continued to climb, largely driven by strong demand from the U.S. and China. However, challenges in pricing negotiations and tough competition from India and Ecuador are expected to slow recovery in March.

Vietnam's pangasius (tra fish) export sector is navigating challenges stemming from global economic downturns, trade disputes, and administrative delays. However, recent developments, including favorable anti-dumping duty reviews and shifting global trade dynamics, offer a glimmer of hope for recovery and growth.

A 60-day suspension of fisheries regulations in the U.S. has severely disrupted the industry. Critical meetings to set quotas and update rules have been delayed, especially affecting the Atlantic bluefin tuna fishery and other key species like cod, haddock, and flounder in the Northeast. The delay has shortened fishing seasons, reduced catch volumes, led to job losses, and decreased fish supply to the market.

Amid ongoing recovery from the COVID-19 pandemic, this regulatory uncertainty has intensified challenges for fishermen — threatening livelihoods, food security, and long-term sustainability. Industry experts and lawmakers are urging the restoration of proper management to protect marine resources and ensure economic stability.

Vietnam's seafood export sector has demonstrated a remarkable recovery in the first quarter of 2025, achieving a total export value of $2.45 billion. This marks a 26% increase compared to the same period in 2024. In March 2025 alone, the export value reached nearly $889 million, reflecting a 20% growth and indicating sustained momentum despite signs of stabilization compared to the initial two months of the year.