(vasep.com.vn) Vietnam's tuna exports to the US recovered as export value was US$ 43 million, up 12% year on year. Yearly accumulated tuna export value reached over US$ 128 million, down 13%, because the increase in Q3 was not sufficient to make up for the decline at the beginning of the year.
In the first 9 months of 2014, tuna exporters and processors continued facing with the lack of materials. Tuna output in 9 months was 13 thousand MT, down 3% year on year. Demand for tuna decreased while prices of tuna remained lower than last year. The value of Vietnam's tuna exports in the first nine months of the year therefore, decreased rapidly, to US$ 363 million, down 12.5% year on year.
During the period, Vietnam's tuna products were exported to 97 markets, compared with the same period last year when they were sent to 103 markets. Tuna exports of 10 major markets in the first 3 quarters of 2014 were accounted for more than 85% of total exports, down year on year. Vietnam's tuna exports to major market fell compared to the same period in 2013.
The US: The US, consuming all kinds of products tuna, fresh, live, frozen and canned, continued to be the largest tuna importing market for Vietnam.
In 9 months of 2014, canned tuna was the most exported products, followed by frozen tuna loins (HS0304). Exports of canned tuna and frozen tuna loins (HS0304) had increasing trends, and reached approximately US$ 49 million, up nearly 19% year on year. This increased the proportion of these products in the export structure from 28% in 2013 to 38% this year. Meanwhile, exports of processed/canned/fresh/live or frozen tunas (except for code HS0304) downed 14.6% year on year.
EU: In contrast to the situation in US market, Vietnam's tuna exports to EU countries declined over the same period. Vietnam's tuna exports to the EU in Q3 were only more than US$ 31 million, down more than 16.8% year on year. This decline pulled kept the yearly accumulated value of Vietnam's tuna exports to EU at just over US$ 100.5 million, down more than 5% year on year.
Among tuna products to the EU market, frozen tuna loins were the most exported one, accounted for nearly 60%. Frozen tuna loins and other processed tuna products had positive growth rates, at 4% and 21%, respectively. Canned tuna exports,the second most exported product, increasingly reduced, down more than 17% year on year. Exports of fresh tuna, live tunaand frozen tuna downed nearly 9% over the same period, despite the recent recovery.
In the EU, Germany, Italy and the Netherlands continued largest import markets for Vietnam tuna in Q3/2014. However,exports tended to be down year on year.
Japan: After the recovery in Q2, Vietnam's tuna exports to Japan downed year on year in Q3. Japan continued to be ranked the 4th, after ASEAN in the top 10 major markets for Vietnam’s tuna. Total export value in this was US$ 5 million, down 1.7% year on year. Accumulated export value reached nearly US$ 18.8 million, down 49% year on year.
By the end of September, all of Vietnam’s tuna export items to Japan declined, except for canned tuna. In particular, frozen tuna loins exports were just over US$ 8 million, down more than 8% year on year. Exports of fresh tuna, live tuna and frozen tuna experienced the biggest drop, staying at nearly US$ 5.9 million, down nearly 75% year on year.
It is forecast that production will decrease as tuna fishing season in Vietnam ended. Until the end of this year, these businesses might have to import raw materials from other countries to meet export demand. Total export value of tuna is predicted to reach US$ 505 million, down 4% year on year.
With the support with post-harvest activities, fresh tuna exports to Japan will increase slightly. Meanwhile, exports to the US and EU will slowly recover because of bans.