Sector Insight

1. Vietnam’s Seafood (Fishery) export situation in Q1/2026

In Q1/2026, Vietnam's fishery exports recorded positive results: Pangasius continued its upward trend with cumulative exports reaching US$514 million (+17% YoY). The main driving force came from the Chinese market with increased demand for frozen fish fillets during the Lunar New Year. Meanwhile, tilapia experienced strong growth with cumulative exports in Q1/2026 reaching US$35 million (+190% YoY) thanks to more effective utilization of the 0% preferential tariff rate from the CPTPP free trade agreement, boosting exports to the Brazilian market.

2. Outlook for 2H2026 and Opportunities

Given the volatile demand in key export markets and increasing competitive pressure, export growth will depend more on competitors' ability to expand their market share rather than an increase in overall market demand. We believe that focusing on improving the "quality" and value per export unit, rather than chasing "volume," will be the key direction for Vietnam's seafood industry to maintain sustainable growth and strengthen its position in the international market.

3. Investment Opportunities in Seafood (Fishery) Stocks

VHC, ANV