Fisheries industry – Seafood exports in the first 2 months of 2025 are differentiated between shrimp and pangasius industries
• The export value of the pangasius industry in 2M2025 recorded a slight decline of 2% YoY, reaching 258 million USD due to a decrease in consumption volume of 6% YoY while the average selling price only grew slightly by 3% YoY. The decline in export volume was mainly due to a 27% decline in the Chinese market while the US and EU markets both grew by 6%. The average selling price in 2M2025 has a strong growth of 8% in the US while in the Chinese and EU markets is equivalent to the same period.• In terms of businesses, VHC's export value in 2M2025 recorded a decline of 15% YoY due to a significant decrease in export volume of 20% YoY despite the average selling price in 2M2025 having grown by 7% to 3.06 USD (+12% MoM, +14% YoY). Compared to VHC, ANV performed worse when export value decreased by 20% YoY due to a 22% YoY decrease in export volume. However, the gross margin of the entire fish industry is expected to gradually improve month by month thanks to the selling price of pangasius gradually increasing month by month and the price of raw fish decreasing when the supply of raw fish increases.
• In contrast to the pangasius industry, the export value of the entire shrimp industry in 2M2025 will reach an impressive growth rate of 33% YoY. The main driving force came from other shrimp (lobster) increasing sharply, while whiteleg shrimp increased slightly by 12% YoY and tiger prawn decreased by 12% YoY. Whiteleg shrimp recorded uniform growth from both production (+6% YoY) and selling price (+5% YoY). Meanwhile, tiger prawn recorded a decline in both production and selling price of 8%/5% YoY, respectively.
• The gross margin of the shrimp and pangasius industry in Q1/2025 is expected to have QoQ growth thanks to the MoM growth in pangasius/shrimp selling prices. At the same time, the price of raw pangasius/shrimp is expected to gradually decrease month-over-month (MoM) as farmers increase stocking due to the current high profit margins.
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