Market news

The global shrimp market is undergoing a period of major volatility, in which U.S. tariff policies are the dominant factor, creating significant pressure on exporters and causing clear price divergence across key markets such as the United States, China, and India.

Minh Phu Seafood Corporation recorded an after-tax profit of nearly VND 177 billion in the first six months of the year - almost four times higher than the same period last year - thanks to increased production and sales of value-added products.

In 2024, Vietnam exported shrimp to 107 markets, up from 102 in 2023. The top 5 major markets for Vietnam’s shrimp exports were China & Hong Kong, the U.S., Japan, the EU, and South Korea, accounting for 76% of the total shrimp export value. In 2024, shrimp exports capitalized on the recovery of demand and import prices in the U.S. and China, leading to significant growth in exports to these two major markets. Moreover, shrimp exporters have maintained a strong presence in markets like Japan, South Korea, and the EU, thanks to the reputation and quality of their products, as well as the added value of processed shrimp products.