The Winding Glass: $1 Billion Tariff Hit to Shrimp Industry Will Lead to Downturn in 12 Months

The US has finalized, for now, tariff rates on the major shrimp-importing countries, and the industry is preparing for a period of significantly higher costs. 

In this column, we look back at other periods when shrimp prices rapidly rose 20% or more to predict what the longer-term impact will be on our industry and customers. 

Things don’t look good.  

We calculated tariff impacts by using full year 2024 values for the major types of shrimp imports, shell-on...

ANALYSIS: Front-Loading Frenzy; May Shrimp Imports Increase 14.6% YTD on Tariff Deadline

Executive Summary

May shrimp import data reveals continued strong volume growth accompanied by rising replacement costs, creating a challenging market dynamic. While imports exceeded expectations across most categories, the combination of higher volumes, elevated costs, and front-loading ahead of tariff implementation, suggests significant inventory accumulation. The market faces a fundamental paradox: imports and costs are both rising, yet U.S. demand remains tepid, pointing to inevitable margin compression as the industry struggles to absorb higher costs across the supply chain without proportional demand...

VASEP Elects New Chairman for Five-Year Term

The Vietnamese Association of Seafood Exporters and Producers (VASEP) recently elected Do Ngoc Tai as its new Chairman for Term 7, which will run from 2025-2030.

In a letter to VASEP members, partners, and the Vietnamese seafood industry, Do—who is also the founder and CEO of seafood company Tai Kim Anh Seafood Processing Joint Stock Company (TAIKA)—addressed VASEP’s goals for the next five years.

First and foremost, he acknowledged the Executive Board and Standing Committee’s responsibility to build on generations of past VASEP leaders and reinforce VASEP’s...

Seven Vietnamese Pangasius Exporters Exempt from US Anti-dumping Duties

The US Department of Commerce (DOC) announced that seven Vietnamese pangasius producers will be exempt from anti-dumping tariffs following its 20^th administrative review on frozen fillets imported from Vietnam into the US.

According to a Federal Register notice, Bien Dong Seafood Joint Stock Company did not sell frozen pangasius fillets in the US at prices below normal value. The Vietnam Association of Seafood Exporters and Producers (VASEP) said this makes Bien Dong eligible for a 0% tax rate.

Alongside Bien Dong...

Sen. Kennedy Urges HHS to Enhance Foreign Seafood Inspections 

In a letter sent to Secretary of Health and Human Services (HHS), Robert F. Kennedy, Jr., Senator John Kennedy (R-La) is urging the department to enhance the inspection process for seafood imports that do not meet US standards — specifically when it comes to shrimp.  

The senator highlighted shrimp producers in countries like India, Ecuador, Indonesia and Vietnam, who he says do not always comply with environmental regulations and bans on antibiotic use. 

“A growing body of academic research and investigative reporting indicate that imported shrimp frequently contain illicit...

ANALYSIS: U.S. Shrimp Import April 2025 Market Review

Executive Summary

Expana's April shrimp import analysis shows strong volume growth alongside rising prices, creating a situation that looks eerily similar to 2022 when the market faced oversupply issues. Import volumes are up significantly, but demand absorption appears limited, pointing to potential margin pressure ahead as importers rush to beat the July tariff deadline.

In this report:

            1. FORECAST PERFORMANCE VS. ACTUAL FIGURES
            2. IMPORT BREAKDOWN BY PRODUCT FORM
            3. SUPPLIER COUNTRY DYNAMICS
            4. PEELED PRODUCT SPOTLIGHT
            5. HELL-ON MARKET SURGE
            6. COOKED SHRIMP MOMENTUM
            7. MARGIN AND...

Japan: April Fishery Product Exports up 23% at 51,600 Tons, with Value up 22% at JPY 30 Billion 

According to trade statistics released by the Ministry of Finance on May 29, April's fishery product exports increased 23% in volume compared to last April. Exports also increased 22% in value to 30,091 million yen ($208.95 million). The quantity of scallops decreased, while the value increased. Yellowtail increased in both volume and value. 

According to a report in the Minato Shimbun, the volume of scallops decreased 22% to 5,324 tons and increased 39% to...

Japan: Salmon and Trout Imports in February Fell by 25%, Reflecting a Decrease in Coho

According to trade statistics from the Ministry of Finance, Japan’s total salmon and trout imports in February (including salted, smoked, and prepared products) were 22,137 tons, down 25% from the same month last year, and the CIF import value was 30,039 million yen ($211.25 million), down 10%. The quantity of fillets (fresh, frozen, salted, and dried) was down 7% to 6,491 tons, and those other than fillets were down 31% to 15,645 tons.

Minato Shimbun reported that the main factor behind the decrease in...

Yokohama Reito Launches its Newest and Largest Cold Storage Facility in Vietnam

Yokohama Reito, also known as Yokorei Co., Ltd., a major refrigerated and frozen distribution company, has completed construction of the Vietnam Yokorei Ben Luc Logistics Center Main Facilities in Vietnam, according to the Minato Shimbun report and the company's recent press release.

The completion ceremony was held on March 3 and was attended by about 100 people including company officials, the Director General of the Long An Economic Zone Administration, the Chairman of Phu An Thanh Industrial Park, local business partners, and construction workers...

Texas Food Importer L&V Food Supply Recalls Over 1,150 Pounds of Dried Vietnamese Catfish

On February 25, 2025, C&T Produce Wholesale Inc. (doing business as L&V Food Supply) issued a recall for approximately 1,152 pounds of peppered frozen and dried catfish products imported from Vietnam into the U.S.

According to the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS), the fish products were produced by an establishment in Vietnam that is not eligible to export catfish to the U.S. As such, the products were not presented for import reinspection into the U.S...

Trump Announces US Trade Deal With Vietnam, Including 20% Import Tariff

President Trump announced that the United States has agreed to a new trade deal with Vietnam on July 2.

Trump stated that Vietnam will pay the US a 20% tariff on all goods exported to the U.S. and a 40% tariff on transshipped goods. The higher 40% tariff targets products that are not originally made in Vietnam but are routed through the country to bypass higher tariffs. This move is significant, as many countries have used Vietnam as a transit point to avoid stricter trade penalties aimed at Chinese...

Starway International Group Expands Recall for Ineligible Frozen Siluriformes Imported from Vietnam 

New York-based Starway International Group is expanding its recall of Siluriformes fish products imported from Vietnam.  

The US Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced Wednesday that another 15,980 pounds of product from a Vietnam facility that is not authorized to export Siluriformes to the United States, has been recalled. This is in addition to the 9,513 pounds of Siluriformes initially recalled on June 12, as reported by Expana. 

The expansion includes the following Siluriformes sausage products, which were shipped to...

Starway International Group Recalls Fish Balls Imported from Vietnam 

The US Department of Agriculture’s Food Safety and Inspection Service (FSIS) has announced that thousands of pounds of frozen fish ball products have been recalled. New York-based Starway International Group issued the recall on Thursday, which covers 9,513 pounds of Siluriformes  products imported from Vietnam.  

The fish balls — which were shipped to several retailers nationwide — came from a Vietnam facility that is not authorized to export Siluriformes to the United States.  

The following products are included in the recall:  

- 16-oz. plastic bag packages containing...

US Issues Record-High Preliminary Decision on Anti-Dumping Tariffs on Vietnamese Shrimp 

The US Department of Commerce (DOC) has hit two dozen of Vietnam’s shrimp exporters with a record-high preliminary anti-dumping tax rate of 35.29%.  

The preliminary decision is based off the Department’s 19th administrative review on anti-dumping duties for frozen warmwater shrimp imported from Vietnam, which ran from February 1, 2023 to January 31, 2024.  

The DOC named Seafood Joint Stock Company (STAPIMEX) and Thong Thuan Company Limited (Thong Thuan) as mandatory respondents. It was determined that STAPIMEX sold...

Australis Aquaculture Begins Construction on New Processing Facility in Vietnam

Australis Aquaculture has announced that construction is underway on a new processing facility in Vietnam. 

The company — which focuses on sustainable ocean-farmed barramundi — says the new facility will enhance efficiency, sustainability, and product quality across all operations. 

One of the main upgrades is the use of nitrogen freezing technology. Australis Aquaculture CEO Josh Goldman says the method reduces ice crystal formation and protects the integrity and quality of barramundi products.  

The facility will also include coating, breading, dehydration and tray packing lines to better integrate production, which...

Russia to Increase Fish Exports to Vietnam

Russia plans to increase its fish exports to Vietnam this year thanks to the ever-growing demand from local processors.

According to German Zverev, President of the All-Russian Association of Fish Producers, Vietnam is actively expanding its processing capacities and becoming a key player in the global market. In 2024, the country almost liquidated its gap with China in terms of fish exports.

At present, Vietnamese processors mainly work with local raw materials, such as pangasius and tilapia, but its taste is inferior to wild fish. Thus, Russia can become an important...

FDA Ends Two-Month Streak of No Entry Line Refusals for Antibiotic-Contaminated Shrimp

The U.S. Food and Drug Administration (FDA) recently released new data showing a total of 92 seafood entry line refusals in February 2025, and a total of four entry line refusals of shrimp (4.2%) for the presence of banned antibiotics, per product traces of veterinary drug residues.

Of the total 92 seafood entry line refusals during February, 26 entry lines were for shrimp imports unrelated to banned antibiotics.

This data follows marks the end of the FDA’s two-month consecutive streak where the federal agency reported...

Japan’s 2024 Alaska Pollock Exports Dipped in Most Countries While Doubling in Nigeria

Since 2019, 100% of fresh Alaska pollock exported from Japan has been destined for South Korea, while frozen pollock is targeted at Asian countries and parts of Africa due to the prolonged Chinese embargo. Still, due to resource constraints, it has not been possible to ensure a sufficient supply. Last year, the combined export volume was 5,868 tons, halved from the previous year, which marks the lowest it has been in recent years, reported Minato Shimbun.

Since 2019, fresh pollock has been destined exclusively for South Korea...

ANALYSIS: 2024 Frozen Tuna Fillet Imports Reach Second Highest Levels on Record

In 2024, total imports of frozen tuna fillets amounted to 95.11 million pounds, making it the second-highest import volume on record. The record was set in 2022 with 105.49 million pounds, while 2019 ranks third with imports totaling 90 million pounds.  Since 2007, tuna imports have been on an upward trajectory, tripling in volume. Throughout most of this period, Indonesia was the predominant exporter, consistently maintaining a lead over Vietnam...