Shrimp industry aims for 4 billion USD in 2025
Shrimp consumption demand recovers strongly
China continued to be the leading market, with export turnover reaching 288 million USD, a 125% increase compared to the same period last year. Demand for imported seafood, especially lobster, increased sharply to serve domestic consumption and prepare for the Labor Day holiday (1-5/5). The export price of black tiger shrimp to China remained at 9.6 USD/kg, a slight increase compared to the beginning of the year, but the price of whiteleg shrimp was still under competitive pressure, reaching only 6.6 USD/kg due to the entry of competitors such as Ecuador and India.
The US was the second largest market, recording shrimp exports of US$134 million, up 11%. Increased demand in the US, combined with the effectiveness of the Seafood Expo North America 2025 (held from March 16-18 in Boston), boosted orders. Vietnamese businesses took advantage of this event to expand their booths, reach new customers and reconnect with traditional partners. Export prices in the US were also at their highest, with whiteleg shrimp reaching US$10.9/kg and black tiger shrimp at US$17.7/kg, more stable than other markets.
The EU market also recorded positive growth with a turnover of 107 million USD, up 33%. The price of whiteleg shrimp remained stable at 7.6 USD/kg, while that of black tiger shrimp increased slightly to 10.9 USD/kg in March. The Seafood Expo Global 2025, taking place from 6-8 May in Barcelona, Spain, is expected to continue to boost orders from the EU in the second quarter, helping the shrimp industry maintain its growth momentum.
Japan and South Korea were the two markets that showed positive recovery, with turnover reaching US$124 million (up 20%) and US$77 million (up 16%) respectively. Japan is particularly fond of processed and frozen shrimp, but export prices have tended to decrease: whiteleg shrimp from US$9.5 to US$8.4/kg, black tiger shrimp from US$14.7 to US$13.6/kg. South Korea has also seen similar price fluctuations, reflecting competitive pressure from other Asian countries.
The CPTPP market also reached a turnover of 269 million USD, up 40%, but still heavily dependent on Japan and Canada. Other small markets outside the top 5 tended to decrease, due to high logistics costs and technical barriers.
Since April 2, 2025, US President Donald Trump has declared a national emergency and imposed reciprocal tariffs to reduce the trade deficit and protect domestic production. The 46% tax rate applied to Vietnamese goods, although it has been postponed for 90 days, has created great pressure on shrimp businesses. The US is an important market, accounting for about 20% of Vietnam's total shrimp export turnover, with an annual value ranging from 800 million to 1 billion USD. If the tax is officially applied from July 2025, the price of Vietnamese shrimp in the US could increase significantly, reducing its competitiveness compared to rivals such as Ecuador (10% tax), India (26%) or Thailand (36%).
In addition to reciprocal taxes, Vietnamese shrimp enterprises also face two anti-dumping (AD) and anti-subsidy (CVD) lawsuits in the US. Although the current CVD tax rate for Vietnamese shrimp is 2.84%, lower than that of India (5.77%) and Ecuador (3.78%), strict regulations on product origin and quality can increase compliance costs, affecting profits.
Vietnam’s shrimp industry is also facing a new wave of competition from countries such as Ecuador, India and Indonesia. Ecuador continues to lead the world in shrimp production, with a 3% growth rate by 2025, thanks to its geographical location near the US and lower logistics costs. India, despite being subject to a 26% tariff in the US, remains competitive in terms of price thanks to its large output and investment strategy in deep processing. Meanwhile, high production costs in Vietnam, combined with rising logistics costs and volatile global demand, make it difficult for the shrimp industry to maintain its competitive edge.
In addition, consumption demand in major markets such as China and the EU is slowing down, with importers cautious about placing large orders. Low-priced inventories in the US are also making customers hesitant to buy shrimp at high prices, increasing risks for Vietnamese businesses in the second quarter of 2025.
According to the Ministry of Agriculture and Environment , to achieve the target of 4 billion USD in 2025, the Vietnamese shrimp industry needs to synchronously deploy many solutions. First of all, businesses need to take advantage of international exhibitions such as Seafood Expo Global 2025 to promote their brands, reach new customers and update consumer trends. Investing in processing technology, meeting international standards such as FDA, ASC, MSC, and building the "Vietnamese Seafood" brand associated with sustainable values will help create a competitive advantage.
In terms of policy, Vietnam is stepping up negotiations with the US to reduce reciprocal tariffs, while taking advantage of free trade agreements such as CPTPP and EVFTA to expand its market. Strictly controlling the origin of goods and increasing imports from the US are also ways to reduce pressure from US trade policies.
Do Huong
Source: https://baochinhphu.vn/san-pham-tom-tiep-tuc-chinh-phuc-cac-thi-truong-lon-102250429083758913.htm
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