Vietnam Shrimp Exporters Shift Markets as Ecuador Gains Share

Vietnamese shrimp companies, led by Minh Phu Seafood Corporation (UPCoM: MPC), have shifted exports to Japan and South Korea after U.S. market losses due to Ecuador’s low-priced shrimp, local media reported.
MPC’s U.S. and Canada sales fell 51% from 2019 to 2024. New markets like Australia and Europe have not yet compensated for the decline.
The company reported VND190.6 billion ($7.4 million) in losses in 2024, following a VND105.1 billion loss in 2023. Global oversupply and price pressure were cited...
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