Shrimp exports surpass $900 million in Q1 but face pressures

Shrimp exports surpass $900 million in Q1 but face pressures

Shrimp exports in the first quarter of this year exceeded US$900 million.

Workers process shrimp for export at the Bá Hải Company in Phú Yên Province. — VNA/VNS Photo Vũ Sinh

Shrimp export revenue in the first four months of 2025 reached nearly US$1.3 billion, up 35 per cent year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

Of this, April alone contributed an estimated $350 million, a 24 per cent increase over the same period last year.

In the first quarter, exports totalled $939 million, up over 37 per cent compared to Q1 2024.

VASEP attributed this impressive growth to the recovery of demand in many major markets, particularly China, the US, Japan and CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) member countries.

In the first quarter, mainland China and Hong Kong stood out as Việt Nam's top shrimp import markets, with export revenue soaring to $288 million — a 125 per cent increase year-on-year.

The US followed with $134 million, an increase of 11 per cent, driven by rising demand in the market. 

The 2025 Seafood Expo North America, held from March 16-18 in Boston, also played an important role in boosting growth.

The US remained the highest-priced market. In April, the average export price for whiteleg shrimp to the US reached $10.9 per kilgramme, while black tiger shrimp averaged $17.7 per kg, a more stable level compared to other markets.

However, despite these achievements, Việt Nam’s shrimp industry continues to face challenges related to tariffs and competition.

Vietnamese shrimp companies are encountering new import tariffs along with pressure from two lawsuits in the US - one on anti-dumping (AD) and one on countervailing duties (CVD).

A proposed 46 per cent reciprocal tariff by the US on Vietnamese goods has been temporarily suspended, allowing seafood exports to maintain growth in April, with forecasts for continued growth in May.

VASEP shared that seafood processors in India and Southeast Asia are rushing to ship products to the US until May 20, to ensure arrival before July 9. This is considered the final deadline to avoid additional tariffs.

May 15-20 is viewed as the ‘golden window’ for shipments to arrive on time before July 9, which the business community agrees is the arrival deadline, not the departure or transit date.

US importers are also accelerating their purchasing efforts to avoid the new high tariffs.

However, in the longer term, experts suggest that to overcome challenges and mitigate risks related to trade barriers, seafood exporters must focus on deep processing and building the ‘Vietnamese shrimp' brand associated with quality, sustainability and transparency.

Enterprises should also capitalise on and further exploit free trade agreements (FTAs), including the EVFTA, CPTPP and RCEP, while expanding into potential markets with high shrimp demand such as Japan, South Korea, Canada, Europe and the promising Halal market.

Nguyễn Thị Phương Dung from the Directorate of Fisheries under the Ministry of Agriculture and Rural Development said that, in light of changing trade policies and the global shift toward green, safe and sustainable agriculture, Việt Nam’s shrimp sector must adopt water-saving aquaculture technologies, improve input efficiency, and minimise antibiotic use.

It is important to strengthen disease control, ensure food safety in aquaculture, encourage the adoption of recycling technologies, use agricultural by-products, promote circular economy practices and reduce greenhouse gas emissions. 

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