The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that in May 2025, seafood exports reached $851 million, a 2.7% increase from May 2024. Cumulatively, from January to May 2025, exports reached $4.2 billion, an 18.2% increase compared to the same period in 2024. These results reflect the industry’s resilience amid market fluctuations, notably the impact of the US retaliatory tax policy.
Short-Term Adjustments
Ms. Le Hang, VASEP’s Vice Secretary General, shared that since April 2025, after the US government announced plans to impose a temporary 10% tax on various imported products from Vietnam, including seafood, businesses in the industry have quickly reacted. They rushed to deliver goods to the US in April and early May to avoid higher tax risks (which could reach 46% after July 9, 2025 – the end of the 90-day temporary tax period).
As a result, export turnover to the US in May 2025 still reached nearly $160 million, a 9.7% increase compared to the same period last year. However, according to some enterprises, trading activities have slowed down since May 20th to prevent commercial risks. Cost pressures, market fluctuations, and policy uncertainties have impacted overall turnover in May.
In terms of product categories, shrimp continued to be a bright spot, with exports reaching $363 million in May, a significant 12.4% increase, accounting for over 42% of the total turnover. Overall, in the first five months of 2025, shrimp exports surpassed $1.66 billion, a 28.3% increase, reflecting a clear recovery trend in the market and strong demand from the US, Japan, and CPTPP countries.
Meanwhile, tra fish exports decreased by 17.3% in May, reaching only $138 million, the most significant drop among the main product groups. This was mainly due to enterprises temporarily adjusting their export schedules to the US – the largest tra fish consumer market – to avoid high taxes and proactively restructuring their market approach. Some enterprises, like Caseamex, are actively shifting their focus to the EU and Asian markets, which have higher technical requirements but lower tax risks.
Similarly, tuna exports also declined by 23.2% in May, reaching $65 million, indicating challenges posed by logistics costs and competition from alternative sources in Latin America.
Redefining Market Strategies Towards Diversification
According to Ms. Le Hang, VASEP’s Vice Secretary General, in the face of uncertainties arising from US tax policies, many seafood enterprises have redefined their market strategies towards diversification and deeper processing. As a result, exports to CPTPP markets such as Japan, Canada, and Mexico continued to grow strongly. Specifically, in May 2025, exports to these markets reached $224 million, a 7.9% increase. Cumulatively, from January to May 2025, exports surpassed $1.15 billion, a 24.3% increase compared to the same period last year.
“Many seafood enterprises are actively developing deeply processed product lines such as fish balls, seasoned fish, canned fish, and collagen from by-products to penetrate niche markets and meet the convenience consumption trend, especially in large Asian cities.”
Ms. Le Hang, VASEP’s Vice Secretary General.
The Chinese and Hong Kong markets also recorded impressive growth, with exports reaching nearly $185 million in May and over $900 million in the first five months, increases of 22.3% and 48.6%, respectively. These positive figures reflect the successful market restructuring efforts and the appeal of products that match local tastes, pricing, and convenient supply chains.
According to VASEP’s assessment, from now until July – when the US decides on the official tax rates for some products from Vietnam – exports to this market are expected to remain cautious. Enterprises need to calculate the optimal timing for deliveries to avoid tax risks and retain orders. In the scenario where the tax rate remains at 10%, the industry can maintain stable exports. However, if the 46% tax rate is applied, exports will likely decrease significantly, forcing a more aggressive market restructuring.
Exploring Niche Markets for Tra Fish
Regarding tra fish, after two decades of robust development, the Vietnamese tra fish industry is facing saturation in traditional markets such as the US, China, and the EU, where technical standards, quarantine requirements, and sustainability demands are increasingly stringent. In this context, expanding into niche markets, or segments or regions not yet fully exploited, becomes imperative for maintaining growth momentum and enhancing the value of tra fish products.
According to Ms. Hang, the Middle East and North Africa, with a population of over 400 million, mostly following Islam, present a significant opportunity for Halal food products. Vietnamese tra fish can dominate this segment by fully complying with Halal processing, traceability, and certification standards. Countries like Pakistan, Bangladesh, and even Muslim-majority African nations such as Nigeria and Senegal, offer potential for frozen tra fish consumption.
“Conquering niche markets often requires flexibility, product diversity, and initial small-scale trade – something that large enterprises may find challenging, while small enterprises lack the capital and trade promotion skills.”
With a population of over 1.4 billion, Africa is rapidly urbanizing, and the demand for animal protein is increasing while local marine resources are declining. Tra fish can serve as a cost-effective alternative to traditional marine fish, offering versatility in processing and preservation.
In the South American market, Vietnam has initially penetrated Brazil, but the rest of the continent remains largely untapped for tra fish imports. Similar tastes and convenience trends are significant advantages. The initiation of FTA negotiations between Vietnam and the South American Common Market (Mercosur) will provide a strategic springboard for expanding market share.
However, VASEP representatives also pointed out that many tra fish enterprises lack the capacity to thoroughly research tastes and consumption trends in markets like Africa, the Middle East, and Latin America, leading to misaligned product strategies. Islamic markets require Halal certification, while many Vietnamese factories are not yet certified. The African market demands packaging that considers local languages, climate, and transportation peculiarities. Currently, about 85% of exported tra fish products are frozen fillets, failing to meet the demand for deeply processed, convenient products in markets like Japan, South Korea, and ASEAN…
Ms. Le Hang advised tra fish enterprises to restructure their product portfolios according to regional demands: Instead of exporting tra fish fillets en masse, they should develop distinct product lines, such as skinless fillets for Japan, sliced fish for Africa, and fish balls and fish cakes for ASEAN…
- Strengthen links in the production-export chain: Cooperate with cooperatives and certified farming areas to produce according to specific orders, meeting unique requirements for quality, size, fat content, Halal certification, ASC, Organic…
- Invest in by-product processing technology: Develop the deep processing industry for tra fish by-products to export fish oil, fishmeal, collagen, gelatin…, thereby increasing export value and reducing waste.
- Proactively promote international trade: Seek support from the Ministry of Industry and Trade, the Ministry of Agriculture and Environment, and industry associations like VASEP in participating in international food fairs and establishing representative offices in Africa, the Middle East, and South America.
The world is changing, and so must the Vietnamese tra fish industry. Once-overlooked niche markets can now be newfound gold mines if approached with understanding, adaptability, and a willingness to meet diverse needs. Conquering new territories is never easy, but with the right, synchronized strategy, Vietnamese tra fish can embark on a new era of sustainable development, winning markets with quality, diversity, and professionalism.
What Opportunities Lie Ahead for Domestic Businesses Amidst Tariff Turbulence?
Amidst the evolving landscape of global policies and tariffs, domestic enterprises find themselves at a pivotal juncture, brimming with opportunities but also fraught with unforeseen risks.
The Biggest Tra Fish Exporter in Vietnam Suffers Revenue Decline in the US Market
“In April, Vinh Hoan’s total revenue reached VND 1,019 billion, a 7% decrease compared to the same period last year. Despite this setback, the company remains optimistic and is strategically positioning itself for future growth.”
The Textile Industry Navigates Turbulent Waters: Riding the Wave or Drowning in Tariff Troubles?
The textile industry witnessed a remarkable rebound in the first quarter of 2025, attributed to improved profit margins and steady orders. Despite this positive trajectory, the industry faces a significant headwind in the form of looming 46% tariffs from the United States, which, although postponed for 90 days, necessitates a swift strategic shift to sustain this growth momentum.
The Golden Opportunity: Unveiling the Billion-Dollar “Gold Mine” that Captivates Americans
This product has immense potential for growth in the upcoming years. With its unique features and innovative design, it is poised to capture the attention of a wide audience and make a significant impact in the market. The possibilities are endless, and the future looks bright for this promising offering.
The Surprising Surge in China’s Import of Snails from Vietnam
China has been a significant importer of seafood from Vietnam, with a traditional focus on shrimp and tra fish. However, a notable shift has occurred, with China now significantly increasing its imports of shellfish from Vietnam, including delicacies such as scented snails, clams, and abalone.
