Vasep said China continues to be the largest market, with a turnover of 288 million USD, up 125% over the same period in 2024. Demand for shrimp for domestic consumption and the May 1-5 holiday increased sharply, in which lobster and tiger prawn are popular.

The second largest consumer is the US, with an 11% growth, reaching 134 million USD. This is also the market with the highest export price, averaging 10.9 USD per kg of whiteleg shrimp and 17.7 USD per kg of black tiger shrimp, more stable than other markets.

The EU market was also positive, earning 107 million USD, up 33%. Japan and South Korea recorded growth of 20% and 16%, reaching 124 million USD and 77 million USD respectively. In Japan alone, ready-to-eat and conveniently frozen shrimp are popular product lines.

Assessing the upcoming situation, Vasep said that the US reciprocal tax is being postponed but also creating pressure on the shrimp industry, because this is a market that accounts for about 20% of export value, equivalent to 800 million to 1 billion USD per year.

In addition, Vietnamese shrimp also faces two anti-dumping (AD) and anti-subsidy (CVD) lawsuits in the US. Although the CVD tax rate is currently 2.84%, lower than that of India (5.77%) and Ecuador (3.78%), strict regulations on product origin and quality can increase compliance costs, affecting profits.

To achieve the target of 4 billion USD in turnover this year, the Ministry of Agriculture and Environment emphasized the importance of synchronizing solutions: enhancing trade promotion at international exhibitions, investing in processing technology and standardizing according to international standards (FDA, ASC, MSC).

Vietnam is also actively negotiating with the US, while promoting the use of FTAs ​​such as CPTPP and EVFTA to diversify its markets. Tightly controlling the supply chain and boosting imports from the US are also considered a strategic move to reduce pressure from Washington's protectionist policies, according to Vasep.