(seafood.vasep.com.vn) After a 34% decline in January, Vietnam's tuna exports to Spain suddenly reversed in February. The value of Vietnam's tuna exports to this market in February increased by 58%, reaching nearly 1.6 million USD. This figure contributed to bringing the total tuna export turnover to this market in the first two months of 2023 to nearly $2.5 million, up 4% over the same period.
In 2022, Spain is the second largest tuna import market of Vietnam in the EU bloc, accounting for 2% of total export turnover, reaching nearly 22 million USD, up 9% compared to 2021. After the instability in the middle of the year, from the fourth quarter of 2022, Vietnam's tuna exports to this market have grown continuously.
In 2022, Vietnamese enterprises exported a variety of products from fresh and frozen fish to processed tuna products to this market. Entering 2023, Spain only imports frozen tuna meat/loin products from Vietnam.
Due to the impact of fishing bans with FADs in fishing grounds, catches of the EU fleet has reduced, Spanish canned goods manufacturers have to increase imports of tuna
Due to the impact of fishing bans with Fish aggregating devices (FADs) in fishing grounds, catches of the EU fleet has reduced, Spanish canned goods manufacturers have to increase imports of tuna from external sources, including Vietnam. Besides, in the first months of the year, Spanish importers tend to increase their stocks of duty-free tuna loins from sources with preferential tariffs under FTAs like Vietnam.
In the frozen tuna meat/loin market segment, Vietnam is the 5th largest supplier of frozen tuna meat/loin outside the EU for the Spanish market, accounting for 3.8% of the total import value of this product group. Vietnam's tuna meat/loin products in 2022 will be more competitive than other suppliers such as Ecuador, Mexico.
Higher food and energy costs is expected to curb demand for seafood, including tuna
Currently, higher food and energy costs are pushing up consumer prices in Spain in the first months of 2023. This is expected to curb demand for seafood, including tuna, in Spain. The price of tuna on the world market tends to increase higher and higher, so importers try to limit transactions. However, the demand for tuna consumption in European countries often increases in the summer months, so importers will increase imports of tuna loin during this time to take advantage of tariff preferences.
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TOP 7 VIETNAMESE TUNA EXPORTING ENTERPRISES TO SPANISH IN 2022
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No
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Enterprises
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Proportion(%)
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1
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BIDIFISCO
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45
|
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2
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TUNA VIETNAM CO.,LTD
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27
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3
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NHA TRANG BAY JSC
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11
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4
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HAVUCO
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5
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5
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AN HAI FISHERY LIMITED COMPANY
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2
|
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6
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PHUC NGUYEN SEAFOOD Co.,Ltd
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2
|
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7
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DRAGON WAVES
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2
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Compiled by Thuy Linh