Vietnam seafood industry tackles raw material shortage to drive exports
Vietnam’s seafood industry is bracing for a sharp slowdown after the United States imposed a 20% countervailing tariff in August, adding to existing anti-dumping and anti-subsidy duties. Shrimp exporters are expected to be hit hardest, with industry leaders urging the government to address raw material shortages and revise tax policy to protect competitiveness.
The Vietnam Association of Seafood Exporters and Producers (VASEP) said exporters accelerated shipments ahead of the U.S. deadline, lifting July seafood exports to USD 971 million, up 6% year-on-year. Exports in the first seven months rose, but “tax stacking” could curb sales in the remainder of 2025.
Preliminary results of the U.S. administrative review (POR19) show Vietnamese frozen shrimp could face anti-dumping duties of up to 35.29%, plus the new 20% countervailing tariff and other levies, pushing the total tax burden to as high as 56%, effectively pricing them out of the market. Competitors including Ecuador, India and Indonesia face far lower rates.
Pangasius is also subject to multiple duties, but faces less impact due to limited U.S. competition and favorable POR20 results, with seven Vietnamese firms, including Vinh Hoan, securing a zero-duty rate. Tuna, Vietnam’s third-largest seafood export, remains constrained by raw material shortages and strict catch-size rules, while rival suppliers enjoy lower tariffs.
VASEP projects 2025 seafood exports at USD 9.0-9.2 billion if current barriers remain, rising to USD 9.5 billion if final POR19 results lower anti-dumping rates. It urged exporters to diversify into markets covered by trade pacts such as the EVFTA and CPTPP, and called on ministries to prioritise tuna raw material supply and VAT reform.
Box: The Ministry of Agriculture and Environment on August 12 held a high-level conference in Ho Chi Minh City to discuss strategies for boosting agricultural, forestry and fishery exports in 2025. The event brought together government leaders, industry associations and businesses to address market challenges and outline measures to sustain growth.
VFM
