Seafood – In-depth – [NEUTRAL] – 2025 Outlook: Against All Odds

In 2025F, as consumer demand continues to revive in key export markets, we project the seafood industry to follow a recovery trend comparable to 2024. However, this may face short-term obstacles, including uncertain tax policies and heightened competition. We expect export volume to sustain upward momentum, while average selling prices for shrimp and pangasius will likely diverge across key export markets.