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Vietnam's Seafood Exports Hit $2.45 Billion, Amidst IUU and MMPA Concerns

Click on the flag for more information about Viet Nam VIET NAM
Thursday, April 03, 2025, 09:00 (GMT + 9)

Vietnam Seafood Exports Surge, But Looming Trade Barriers Threaten Growth

Vietnam's seafood exports experienced a robust recovery in the first quarter of 2025, reaching a turnover of $2.45 billion USD, a 26% increase compared to the same period in 2024, according to Ms. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP).

March 2025 alone saw export values climb to nearly $889 million USD, reflecting a near 20% increase, indicating continued growth momentum despite a slight slowdown from the preceding two months.

Shrimp and Pangasius Lead the Charge

Shrimp exports remained a primary driver, generating $931.6 million USD in the first quarter, a 35.7% surge, with March contributing $327 million USD (up 20.4%). This surge was fueled by strong demand from key markets, including China (post-Lunar New Year), the United States, and the European Union, where trade agreements like the EVFTA are contributing to increased market access. Pangasius exports also played a significant role, reaching $465 million USD in the first quarter (up 13%) and $181 million USD in March (up 16.1%). Stable raw material prices and a focus on value-added products supported these sectors' growth.

However, pangasius growth showed a slightly lower rate compared to shrimp, partially due to fluctuating market demand amid geopolitical uncertainties and anti-dumping pressures in the United States. While Vietnamese shrimp exports maintained strong growth, they face intense competition from Ecuador and India, which hold price and production scale advantages.

Crabs and Shellfish Growth Moderates

The crab and shellfish sector witnessed notable growth, with crab exports reaching $86.4 million USD in the first quarter (up 66%) driven by Lunar New Year demand in China. Shellfish exports were even more impressive, increasing by 115% to $64.9 million USD. However, growth rates for these sectors moderated in March (crabs up 27.9%, shellfish up 89.7%), reflecting a post-holiday demand cooldown.

Tuna Sector Faces Regulatory Challenges

In contrast, tuna exports experienced a decline in March, reaching $83.3 million USD (down 0.7%), despite a slight 3.6% increase in the first quarter ($222.7 million USD). The sector is grappling with pressures from IUU regulations, particularly the 0.5m minimum tuna size requirement, which has tightened raw material availability for processing.

Furthermore, the US Marine Mammal Protection Act (MMPA) poses a significant challenge, with the US NOAA issuing a preliminary notice of non-recognition of equivalence for Vietnam's seafood industry. Non-compliance by the deadline could result in a US import ban on Vietnamese seafood from January 1, 2026, potentially impacting other sectors like squid and octopus.

The Vietnamese seafood industry faces ongoing challenges from trade barriers, including the MMPA, the EU's IUU yellow card, and potential US tariff increases under a new administration, requiring proactive solutions in 2025.

 

[email protected]
www.seafood.media

 

Vietnam's seafood exports experienced a robust recovery in the first quarter of 2025, reaching a turnover of $2.45 billion USD, a 26% increase compared to the same period in 2024, according to Ms. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP).

March 2025 alone saw export values climb to nearly $889 million USD, reflecting a near 20% increase, indicating continued growth momentum despite a slight slowdown from the preceding two months.

Shrimp and Pangasius Lead the Charge

Shrimp exports remained a primary driver, generating $931.6 million USD in the first quarter, a 35.7% surge, with March contributing $327 million USD (up 20.4%). This surge was fueled by strong demand from key markets, including China (post-Lunar New Year), the United States, and the European Union, where trade agreements like the EVFTA are contributing to increased market access. Pangasius exports also played a significant role, reaching $465 million USD in the first quarter (up 13%) and $181 million USD in March (up 16.1%). Stable raw material prices and a focus on value-added products supported these sectors' growth.

However, pangasius growth showed a slightly lower rate compared to shrimp, partially due to fluctuating market demand amid geopolitical uncertainties and anti-dumping pressures in the United States. While Vietnamese shrimp exports maintained strong growth, they face intense competition from Ecuador and India, which hold price and production scale advantages.

Crabs and Shellfish Growth Moderates

The crab and shellfish sector witnessed notable growth, with crab exports reaching $86.4 million USD in the first quarter (up 66%) driven by Lunar New Year demand in China. Shellfish exports were even more impressive, increasing by 115% to $64.9 million USD. However, growth rates for these sectors moderated in March (crabs up 27.9%, shellfish up 89.7%), reflecting a post-holiday demand cooldown.

Tuna Sector Faces Regulatory Challenges

In contrast, tuna exports experienced a decline in March, reaching $83.3 million USD (down 0.7%), despite a slight 3.6% increase in the first quarter ($222.7 million USD). The sector is grappling with pressures from IUU regulations, particularly the 0.5m minimum tuna size requirement, which has tightened raw material availability for processing.

Furthermore, the US Marine Mammal Protection Act (MMPA) poses a significant challenge, with the US NOAA issuing a preliminary notice of non-recognition of equivalence for Vietnam's seafood industry. Non-compliance by the deadline could result in a US import ban on Vietnamese seafood from January 1, 2026, potentially impacting other sectors like squid and octopus.

The Vietnamese seafood industry faces ongoing challenges from trade barriers, including the MMPA, the EU's IUU yellow card, and potential US tariff increases under a new administration, requiring proactive solutions in 2025.

[email protected]
www.seafood.media


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