China increased purchases, seafood exports exceeded 4.6 billion USD

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this upward momentum shows that the seafood industry continues to recover, although growth between markets is clearly differentiated.

Mainland China and Hong Kong continue to be the strongest growth markets when seafood imports from Vietnam reached 1.2 billion USD, an increase of 40.5% over the same period. Increased demand for shrimp, pangasius, crab, mollusks and some high-value products has contributed to offsetting the decline in many major markets.

In contrast, exports to the US decreased by 10%, to 689 million USD; EU decreased by 2.2%, to 435.6 million USD. Meanwhile, ASEAN increased by 16.8%, Korea increased by 4% and Japan increased slightly by 0.4%, contributing to helping businesses diversify their markets.

In terms of products, shrimp and pangasius are still the two main growth drivers of the industry.

Shrimp leads with a turnover of 1.9 billion USD, an increase of 11.5% and accounting for about 40% of total seafood exports. The increase comes from the recovery of some Asian markets, demand for processed products and lobster exports to China.

However, the shrimp industry still faces many challenges. Many farming households switched to large-sized shrimp to increase product value, while some markets increased demand for small-sized shrimp. In addition, Vietnamese shrimp continues to face competitive price pressure from Ecuador, India and Indonesia, while also facing trade defense measures in the US.

Pangasius reached 905 million USD in 5 months, up 12.6% over the same period thanks to competitive price advantages and stable supply. In the context of a decline in world whitefish supply, especially reduced pollock output and increased raw material prices, Vietnamese pangasius has more opportunities to expand its market share in China, ASEAN, the Middle East and some new markets.

In contrast, tuna exports decreased by 6%, to 372 million USD due to lack of raw materials and increasingly strict requirements on traceability. Some other products still maintain good growth such as squid, octopus reaching 304 million USD, an increase of 18%; Crabs and other crustaceans reached 160 million USD, an increase of 19%; shelled molluscs reached 122 million USD, an increase of 22.8%.

However, VASEP believes that the growth potential in China will depend more on the ability to meet increasingly strict import standards. This market is tightening requirements on quality, food safety and traceability, especially after Order 280 of the General Administration of Customs of China on registration of imported food production enterprises was applied from June 1.

VASEP forecasts that seafood exports in 2026 could increase by 8-10%, reaching over 12 billion USD if demand from China continues to remain positive, pangasius maintains its competitive advantage in price, the shrimp industry improves competitiveness and seafood products gradually remove obstacles in combating illegal fishing (IUU), raw material certification and traceability.

However, the pressure of raw material shortages, logistics costs, compliance requirements and trade defense measures may cause growth to slow down in the second half of the year, especially for industries such as shrimp, tuna, squid, octopus, crab and exploited seafood groups. These are also factors that will determine whether the industry can achieve its turnover target of over 12 billion USD this year.