KTC Food: Canned tuna exports to be stable this year
(vasep.com.vn) KTC Canned Foodstuff Manufactory - Kien Giang Trade and Tourism Company Limited (KTC Food) claimed their earning of nearly US$ 7 million from exporting canned tuna from January to August 2014. From now until the end of 2014, canned tuna exports is expected to remain stable.
Having fierce competition against similar products from Thailand and neighboring countries, canned tuna exported to the Middle East fell with lower export prices.
This period saw stable consumption of canned tuna in the European markets. However, in 2015, with 0% tax rate for the same products from Philippines, this will be a challenge for Vietnam canned tuna. The Philippines made a request for GSP+ treatment. It is likely that this request would be approved. The Philippines will enjoy tax-free for 6,274 product lines including tuna, which now levied at 20.5%.