(VAN) In Viet Nam's seafood export picture, shrimp continues to be the largest pillar, pangasius is showing strong recovery, while tuna remains a category of concern.

According to the Viet Nam Association of Seafood Exporters and Producers (VASEP), Viet Nam's seafood exports in February 2026 were estimated at USD 707 million, up 8% compared to the same period last year. Cumulatively, seafood exports in the first two months of 2026 reached USD 1.7 billion, increasing by 20.2% from the same period last year.

These results indicate that the sector's recovery momentum has remained relatively stable following the strong growth recorded in January, although the pace slowed noticeably in February across several key products and markets.

By product category, shrimp continues to lead the sector, with export turnover in the first two months reaching USD 689.5 million, up nearly 20% compared to the same period. However, in the U.S. market specifically, Viet Nam's shrimp is facing new pressure after the U.S. Department of Commerce announced the final results of the 19th administrative review (POR19) on frozen shrimp from Viet Nam.

Accordingly, the two mandatory respondents, including Stapimex and the Thong Thuan/TTCR group, were assigned a margin of 25.76%, while 22 enterprises received a separate tariff rate of 4.58%. This development increases cost risks and may heighten caution among U.S. importers in the short term.

In February 2026, pangasius exports reached USD 119.3 million, decreasing by 4.8% from the same period. However, cumulative exports in the first two months still reached USD 331.4 million, marking a strong increase of 28%.

By contrast, tuna has emerged as a category of concern. Exports in February reached only USD 53.3 million, down 14.7%. Meanwhile, the total export turnover in the first two months reached USD 128.7 million, slightly declining by 0.2%. This signal shows that the marine fishing segment is simultaneously facing pressure from market demand, logistics costs, and particularly policy factors.

Seafood exports in the first two months of 2026 reached USD 1.7 billion, increasing by 20.2% from the same period last year. Photo: Hong Tham.

From January 1, 2026, shipments originating from fisheries that are not recognized as equivalent by the U.S. National Oceanic and Atmospheric Administration (NOAA) under the Marine Mammal Protection Act (MMPA) may face restrictions when entering the U.S. market. At the same time, countries partially denied recognition are also required to apply for Certification of Admissibility (COA) for related shipments.

NOAA also clarified that Viet Nam is among the countries denied recognition for part of its fisheries, meaning compliance risks for wild-caught seafood exports to the U.S. have increased significantly this year. In February, tuna exports to major markets declined slightly, with shipments to the U.S. alone falling nearly 26% compared to the same period.

Other product groups recorded relatively positive results. Exports of crabs and other crustaceans in February grew dramatically by 78.7%, bringing the two-month turnover to USD 66.2 million, up 24%.

Exports of squid and octopus were nearly flat in February, down 0.4%, but still rose 23.3% over the first two months of the year. Bivalve mollusks showed the fastest growth rate, increasing by 70.3% in February and 38.5% for the two-month period. This indicates that export growth in early 2026 is not solely driven by shrimp but is also spreading to other seafood and mollusk categories.

By market, China and Hong Kong stood out as the brightest spots, with exports in February surging 82%, pushing the two-month turnover to USD 513.5 million, up 54%. ASEAN also showed strong growth in the first two months, reaching USD 118.6 million, up 21.5%, although exports in February alone declined 8%.

The EU maintained a more stable growth momentum, with exports rising 2.5% in February and 16.9% in the first two months. Japan recorded a slight increase of 4.8% in the first two months, but February alone saw a decline of 18.3%, indicating that demand has not yet fully stabilized.

The U.S. remains an important market but is no longer the growth driver this year. In February 2026, exports to the U.S. reached only about USD 80.8 million, sharply decreasing by 25.7%, while the two-month total turnover stood at USD 209.3 million, down 3%.

According to VASEP, Viet Nam's seafood exports in March 2026 are likely to maintain growth, but performance will vary significantly across markets and product categories.

Author: Hong Tham
Translated by Thu Huyen