Photo: VASEP/FIS

Vietnam's Shrimp Exports See Strong May Rebound, But June Outlook Clouded by Trade Uncertainties

Whiteleg shrimp drives overall growth with significant surges to China and the US, while black tiger shrimp stages a recovery in high-end markets. However, a 'wait-and-see' approach by U.S. importers due to tariff policy concerns casts a shadow over future growth.

HANOI – Vietnam's seafood industry registered a robust performance in May 2025, with shrimp exports recording their strongest growth since the beginning of the year. Both whiteleg shrimp and black tiger shrimp saw increases in both volume and value, offering a much-needed boost to the sector. However, the trajectory for June and beyond remains uncertain, particularly concerning U.S. trade policies.

"May 2025 saw excellent growth for Vietnamese shrimp exports, with both whiteleg and black tiger shrimp contributing positively to output and value," reported Ms. Kim Thu, Shrimp Market Expert at the Vietnam Association of Seafood Exporters and Producers (VASEP).

Whiteleg Shrimp Leads the Charge, Fueled by US and China Demand

Whiteleg shrimp exports reached 30,089 tons in May, marking a 23% increase from April and a 6% rise compared to May 2024. Key export products included boiled headless shrimp, peeled shrimp with frozen tails, sushi shrimp, and various steamed and fried preparations.

Major markets like the United States and China/Hong Kong demonstrated exceptionally strong demand, with year-on-year growth reaching +72% and +59% respectively. South Korea's imports increased by 20%, the EU by 14%, and Japan by 3%. The UK was the sole market to register a decrease, down 5% from the previous month. The average export price for whiteleg shrimp showed a slight uptick, reaching USD 9.01/kg, up 1% from April.

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Domestically, farmgate prices for whiteleg shrimp rose by 5-7% across all sizes. This was directly linked to increased export demand, especially from the U.S., where processors accelerated raw material purchases to fulfill orders before the potential expiration of President Donald Trump's reciprocal tariff suspension.

The United States emerged as a significant bright spot, with Vietnamese whiteleg shrimp imports reaching 7,060 tons in May—the highest level since October 2024. The average price to the U.S. was USD 11.60/kg, a 0.9% increase from April. Popular products in this market included peeled and de-veined shrimp, and headless shrimp with shells, all showing strong growth in both volume and value.

Exports to China also peaked for the first time since October, reaching 4,500 tonnes, though the average price saw a 3% dip to USD 6.50/kg. The EU remained stable with volumes at 4,600 tonnes, and prices slightly down by 1.3% to USD 7.60/kg. Japan maintained volumes at 3,700 tonnes, with prices up 4.4% to USD 9.40/kg, while South Korea imported 3,500 tonnes, with prices stable at USD 7.90/kg.

Black Tiger Shrimp Recovers in High-End Segment

While whiteleg shrimp dominated overall turnover, black tiger shrimp demonstrated resilience and recovery in the high-end segment during May 2025. Export output reached 4,353 tons, an 8% increase from April and a 6% rise year-on-year. This species is primarily exported as headless (PTO/PDTO), whole, peeled, steamed, and HLSO shrimp.

Top black tiger shrimp exporters included Minh Phu, Minh Phu Hau Giang, Camimex, Minh Cuong, and Southern Shrimp. Exports to key markets showed positive momentum: Japan increased by 24%, the U.S. by 44%, the EU by 26%, South Korea by 12%, and the UK by 20%. In contrast, China and Hong Kong, Vietnam's two largest markets for black tiger shrimp, saw a slight decrease of 1%.

The average export price for black tiger shrimp increased by 4% to USD 11.82/kg. However, raw shrimp output for this species saw a slight 2% decrease to 24,000 tons after a sharp 32% increase in April. This increased supply of large-sized shrimp led to farm prices adjusting: sizes 20-40/kg decreased by 2%, 50/kg remained stable, and 80/kg decreased by 9%. Supply is projected to improve further in June.

In the U.S., black tiger shrimp imports from Vietnam reached 600 tons, with prices sharply increasing to USD 17.10/kg, the highest among all markets. Japan imported 886 tons, with prices up 6% to USD 12.40/kg. The EU marked its fourth consecutive month of increase, reaching 390 tons in May, though prices decreased by 6.1% to USD 10.70/kg. South Korea imported nearly 200 tons, but average prices sharply declined by 30% to USD 8.30/kg. China maintained stable volumes at 1,300 tons, but prices continued to decrease by 3.3% to USD 8.90/kg.

Vietnamese black tiger shrimp currently holds a dominant position in high-end markets such as Japan, the EU, and Switzerland, driven by a preference for organic, sustainably raised shrimp from mangrove forests with strong traceability. This segment represents a high-value area with significant future growth potential.

However, Vietnamese black tiger shrimp faces escalating competition from India, which is strategically restructuring to promote black tiger shrimp farming dueowing to its higher value. In Andhra Pradesh, Indian farmers are adopting a twice-yearly farming model to produce smaller sizes (30-50 shrimp/kg) targeting Asian markets like China, Japan, and Korea.

Outlook for June and Beyond: Tariffs Create Uncertainty

Despite the positive results in May, the outlook for June and the second half of the year remains uncertain. While demand in major markets is seasonally forecast to increase during the summer, growth may be constrained by a "wait-and-see" attitude among importers, particularly in the United States. U.S. processing plants are reportedly suspending new contracts due to ongoing uncertainty over tariff policies. If the anticipated reciprocal tariffs from the U.S. do not materialize as expected, it could significantly impact the competitiveness of Vietnamese shrimp in this crucial market.

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