Vietnamese shrimp firm Minh Phu Seafood reported export revenue of USD 440.7 million (EUR 393.6 million) over the first nine months of 2026, which was up 16.9 percent from a year earlier, as strong growth in shipments to Australia and New Zealand helped offset declines in Japan.
The company exported 41,608 metric tons (MT) of shrimp from January to September, marking an increase of 22.9 percent year over year, according to company data.
The U.S. remained Minh Phu's largest export market, with shipments worth USD 102.1 million (EUR 91.2 million), increasing 16 percent year over year. Export volume to the U.S. rose 23 percent to nearly 8,300 MT, accounting for around 20 percent of the company's total shipments.
In August, Minh Phu CEO Le Van Quang said his company retains an important advantage in the U.S. because its shrimp is excluded from the country's antidumping duty order; however, Vietnamese products began facing an additional 12.5 percent U.S. tariff this summer under an action concerning trading partners' policies and practices on imports of goods produced with forced labor.
Comparable products from India and Ecuador face a 10 percent rate, offering them a slight advantage over Vietnam.
Still, Quang said the 2.5 percent difference is not significant enough to undermine Minh Phu's competitiveness because its value-added products do not compete directly with much of the shrimp supplied by India and Ecuador.
Minh Phu recorded its strongest revenue growth to Australia and New Zealand among its major markets, with combined export sales growing 47 percent to USD 82.3 million (EUR 73.5 million). Shipment volume increased 57 percent to both markets, amounting to 8,125 MT.
Exports to Japan, meanwhile, fell 6 percent in value to USD 87.1 million (EUR 77.8 million), while volume declined 4 percent to 8,250 MT. Despite the drop, Japan remained the company's second-largest export destination by value behind the U.S.
Elsewhere, Minh Phu's exports to the E.U. climbed 13 percent to USD 50.4 million (EUR 45 million), with volume increasing 14 percent to 5,094 MT. Shipments to Canada also grew, reaching USD 37.9 million (EUR 33.9 million), up 14 percent by value and 12 percent by volume.
The company recorded a 40 percent increase in export revenue to China, reaching USD 4 million (EUR 3.6 million), though it remained a relatively small market for the company.
In the domestic market, Minh Phu's sales dropped 29 percent year over year to USD 4.7 million (EUR 4.2 million) over the nine-month period, while volume contracted 33 percent to 609 MT, according to the company's figures.
