Modest seafood export gains in June signal tough road ahead

Shrimp and basa fish, Vietnam’s two leading seafood export products, saw slower growth in June. Photo: Le Toan

Shipments to the US dropped by 26 per cent compared to June last year, undermining overall growth. The cumulative value of seafood exports in the first half of 2025, however, reached $5.2 billion, marking a nearly 19 per cent increase against the same period in 2024.

Despite the subdued performance in the US, other key markets maintained robust growth in June. Exports to China, Japan, South Korea, and ASEAN countries rose by 15-28 per cent on-year. In contrast, exports to the EU plateaued, edging down 1 per cent, while shipments to the Middle East declined by 16 per cent, primarily due to ongoing regional conflicts. Particularly noteworthy was the steep fall of over 50 per cent in exports to Israel – a major destination for canned tuna.

By product group, tuna suffered the sharpest decline in June, plunging more than 31 per cent on-year. This drop was mainly attributed to US trade measures, as the US remains the top market for Vietnam’s tuna exports. For the six-month period, tuna exports stood nearly 2 per cent lower than the same time last year.

Shrimp and basa fish, Vietnam’s two leading seafood export products, saw slower growth in June due to similar trade policy pressures from the US. By the end of June, shrimp exports had brought in $2.07 billion, up 26 per cent on-year, while basa fish reached $1 billion, rising 10 per cent.

The outlook for the second half of 2025 hinges heavily on upcoming decisions from the US on countervailing duties. Shrimp exports face mounting risks of overlapping tariffs, including countervailing duties, anti-dumping tariffs, and anti-subsidy measures. Meanwhile, prospects for basa fish appear somewhat brighter.

In late June, the US Department of Commerce (DOC) announced the final results of the 20th administrative review (POR20) of anti-dumping measures on Vietnamese basa fish, with seven exporters eligible for a zero per cent anti-dumping duty. If countervailing duties are managed effectively in the months ahead, the result could pave the way for Vietnamese basa fish to regain competitiveness in the US market and accelerate in the latter half of the year.

At a regular press conference held by the Ministry of Agriculture and Environment on July 3, Deputy Minister Phung Duc Tien emphasised that the long-term development strategy places science, technology, and innovation at the core of the transition from extensive to intensive growth, aiming towards sustainable development. The agricultural sector remains steadfast in its principle of not trading off the environment for growth, while ensuring social equity and economic efficiency.

In addition, efforts to improve institutional frameworks are being accelerated. The government has issued decrees on decentralised management and administrative reform, empowering localities to be more proactive and innovative in implementation. The Ministry of Agriculture and Environment is currently reviewing and evaluating existing legislation to propose amendments to specialised laws, with a view to institutionalising new policy directions and creating a more transparent and effective legal framework.