Vietnam’s seafood exports rise 12.1% in first 10 months as VASEP looks to 2029
Vietnam’s seafood exports reached US$10.459 billion in the first 10 months of 2026, up 12.1% year on year, according to VASEP. The association outlined three growth scenarios through 2029, while industry representatives focused on production costs, processing and product quality.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s seafood exports reached US$10.459 billion in the first 10 months of 2026, up 12.1% year on year. Exports in October totaled US$1.32 billion, up 13.5% year on year. Shrimp remained the largest export category, with shipments worth US$4.22 billion in the first 10 months, up 9%. Pangasius exports reached US$1.98 billion, up 11%.
On November 11, the association held an industry seminar in Can Tho to discuss market prospects from 2027 to 2029. Using 2026 export value as a reference, it presented three scenarios: if global demand remains weak and exports grow 3% annually, their value would reach about US$13 billion in 2029; under a baseline scenario of 6% annual growth, it would reach US$14.28 billion; and under a target scenario of 10% annual growth, it could approach US$16 billion if supplies of qualifying raw materials remain stable and product value added increases.
Processing shrimp for export in An Giang.（VietVance）
Lê Văn Quang, general director of Minh Phu Seafood Group Joint Stock Company, said competitors have expanded their supply of further processed shrimp products, and Vietnam would face price competition if it continued to focus on whiteleg shrimp. He proposed developing black tiger shrimp, for which raw materials are more readily available and competition is less intense. VASEP chairman Đỗ Ngọc Tài said Vietnam’s farmed shrimp raw materials cost 20% to 30% more than those of competitors such as Ecuador and India, and businesses still need to build on their strengths in further processing and product diversification.
Processing pangasius for export in Dong Thap province.（VietVance）
In the pangasius sector, Ong Hàng Văn, deputy general director of Truong Giang Seafood Joint Stock Company, said frozen fillets could continue to sustain baseline sales in the Chinese market, while further processed products, including seasoned and boneless fish, offer higher profit margins. He proposed stronger management from stocking to harvest and an allocation of output comprising 60% standard fillets, 30% value-added products and 10% premium products. This is a reference proposal put forward by a business representative.
Source: VietVance
