Vietnam's Shrimp Exports in Q1/2026: China Emerges as a Key Driver Amidst Cost Pressures

Despite impressive growth in the Chinese market, Vietnam's shrimp export industry in the first quarter of 2026 continues to face a "double squeeze" from soaring logistics costs and fierce competition from low-cost rivals such as Ecuador and India.

Q1/2026 Export Overview: Growth with Caution

According to the latest data from the Vietnam Association of Seafood Exporters and Producers (VASEP), total seafood export turnover reached approximately $2.64 billion in Q1/2026, an 8% increase year-on-year. While shrimp remains the flagship product, growth momentum showed signs of cooling in March after a robust performance in the first two months.

China & Hong Kong: The "Lifeboat" for Vietnamese Shrimp The brightest spot in the Q1 picture is the China and Hong Kong market. Export turnover to this region hit an impressive $440 million, a nearly 57.2% surge compared to early 2025.

• Holiday Demand: The Lunar New Year period drove a spike in demand for premium seafood.

• Edge in Live Seafood: Vietnam has

  successfully capitalized on market gaps for live lobster and black tiger shrimp, which are highly favored in China’s high-end hotel and restaurant sectors.

Challenges Hindering Profitability Despite rising turnover, profit margins for businesses and farmers are being tightened by three key factors:

• Low-cost Competition: Ecuador and India continue to dominate the white-leg shrimp segment with massive supply and low production costs.

• Logistics & Input Costs: Global shipping tensions have kept freight rates high. Additionally, rising feed and post-larvae prices have pushed up raw material costs.

• Technical Barriers in the US: Anti-dumping (AD) and anti-subsidy (CVD) duties in the US market remain a significant hurdle, causing importers to remain cautious.

Outlook for Q2/2026 Experts predict that Q2 performance will depend heavily on cost control and the utilization of Free Trade Agreements (FTAs).

• Focus on Value-Added Products: To avoid price wars, Vietnamese enterprises are shifting toward deep-processed items like breaded shrimp and ready-to-eat products.

• Market Diversification: Expanding into Japan, South Korea, and ASEAN countries to reduce reliance on any single major market.

Q1/2026 has been a start filled with both opportunities and trials. To achieve the year-end target, the shrimp industry needs a flexible strategy: maintaining momentum in China while aggressively solving the cost puzzle to enhance global competitiveness.

To read the original report in Vietnamese, visit VASEP's official website.