The fisheries sector remains flexible and adaptable in the face of market fluctuations

Since the beginning of 2025, Viet Nam's seafood industry has faced numerous challenges. These include addressing the IUU yellow card, adapting to climate change, natural disasters, storms, floods, and environmental pollution. Furthermore, the industry has had to contend with tariff issues from the US and price competition from countries such as Indonesia, Ecuador, and India.

However, thanks to various solutions from the Ministry of Agriculture and Environment and the Department of Fisheries and Fisheries Surveillance, combined with the proactiveness and flexibility of enterprises, the seafood industry has "ridden the waves." After 10 months, export turnover reached 9.31 billion USD, up 12.9% over the same period in 2024. Meanwhile, the exploitation rate has been reduced while aquaculture has increased, with many aquatic models transforming toward green, safe, and sustainable production.

Mr. Tran Dinh Luan, Director General of the Department of Fisheries and Fisheries Surveillance, stated that in early April 2025, the US announced preliminary countervailing import duties for over 180 economies, with Viet Nam  subject to a 46% tax rate. This tax rate is forecast to impact the production chain of Viet Nam's seafood industry significantly.

Faced with this situation, leaders of the Ministry of Agriculture and Environment organized many meetings with associations and businesses to grasp the situation and devise adaptive solutions. The Department of Fisheries and Fisheries Surveillance also sent written directives to coastal provinces and cities, as well as inland provinces in the Mekong Delta, regarding strengthening aquaculture production management in the context of the US announcing preliminary countervailing duties on Viet Nam.

Accordingly, enterprises have proactively adjusted their strategies, pushing for delivery and actively optimizing production. They have also expanded to other markets such as the EU, Brazil, Japan, South Korea, and the Middle East.

Ho Quoc Luc, Chairman of the Board of Directors of Sao Ta Foods Joint Stock Company, stated that to expand export markets, the company prepared well in advance. Consequently, this year, it was able to access new markets such as Canada, Australia, South Korea, and Japan. China is also a high-potential market that the company is monitoring and is ready to penetrate when conditions are met.

According to the Viet Nam Association of Seafood Exporters and Producers (VASEP), during a period of global volatility where domestic exports need to expand into potential markets, the doors for seafood exports to Russia, Brazil, and the EU are opening with many advantages.

Viet Nam's seafood export markets in the first 10 months of 2025 clearly reflect this, as Japan and the EU maintained stable growth momentum. Specifically, exports to Japan reached 1.27 billion USD (up 15.6%), and exports to the EU reached 885 million USD (up 13.3%). Notably, South Korea became a breakout market with an increase of nearly 50% in September and over 13% in the first nine months, reaching 645 million USD. Meanwhile, the US market showed signs of slowing down, decreasing by more than 6% in September, but the nine-month total still reached 1.41 billion USD, an increase of 6.8%.

Additionally, ASEAN and the Middle East are emerging as potential niche markets. ASEAN reached 536 million USD (+23.3%), and the Middle East reached nearly 295 million USD (+7.6%). Specifically, in September, the Middle East market increased by over 50%, demonstrating a strategic shift by enterprises to regional markets.

Meanwhile, in early May 2025, the Ministry of Agriculture and Livestock of Brazil (MAPA) announced the lifting of the suspension on tilapia imports from Viet Nam. The opening of the strategic Brazilian market for pangasius products and the resumption of tilapia exports have brought many opportunities for seafood export enterprises.