(seafood.vasep.com.vn) After the continuous slump, Vietnam's tuna exports to the EU in 2016 has recovered, especially in the end of the year.
In the first 7 months in 2016, Vietnam's tuna exports to the EU were not stable. However, in recent months, there have been signs of recovery. In particular, in Oct 2016, Vietnam's tuna exports to the market hit nearly US$14 million, up more than 92% compared to Oct 2015. The figure in the first 10 months of the year was US$87.9 million, up 4.9 % year on year.
In 2015, the EU countries mainly imported processed tuna (HS code 16) from Vietnam, but this year they decreased imports of this item while increased those of fresh/live/frozen/dried tuna (HS code 03). Vietnam’s exports of fresh/live/frozen/dried tuna (HS code 03) to the EU in Jan-Oct 2016 totaled nearly US$49 million, up 22% compared to the same period last year. Meanwhile, exports of processed tuna (HS code 16) reached US$39 million, down 10% year on year.
Recently, Vietnam’s tuna products were sold to 20 countries in the EU. Of that, Italy, Germany and Belgium are top 3 largest importers of Vietnam’s tuna.
In the first 10 months of this year, Italy increased imports of high-value fresh/live/frozen/dried tuna of Viet Nam. It is also the largest buyer of this item from Viet Nam. Viet Nam is also the largest supplier of fresh/live/frozen tuna outside the EU to this market, accounting for 11.6%.
Germany slipped to the second rank in top Vietnam’s tuna importers. It remained the largest buyer of Vietnam’s canned tuna in the first 10 months of 2016. However, due to high rates of 20.5%, the export value of the item to this market was down 50%.
Thanks to good growth since late 2015 and early this year, Belgium became the 3rd biggest tuna importer of Viet Nam in the EU. Belgium also consumes a lot of canned tuna products. However, although exports of the item to this market showed a year-on-year increase, the advantage of Viet Nam is frozen tuna loins (HS code 0304). Currently, Viet Nam increased exports of this item to the market, up nearly 30% over Jan-Oct last year. Besides, Viet Nam is also the leading supplier of the product to Belgium, accounting for nearly 39%. Despite being levied high duty rate, Vietnamese tuna exported to the EU has good advantages thanks to competitive price.
Thanks to upcoming holidays, Vietnam's tuna exports to the EU expected to continue the growth, especially exports of high-value live/fresh/frozen tuna.
Written by Nguyen Ha
Compiled by Dieu Thuy