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US raised importing Vietnam’s tuna loins/fillets
December 30, 2016, 02:25 PM
(seafood.vasep.com.vn) The US stays as the 2nd largest tuna importer in the world, behind Japan, and accounting for 11-13% of the world's tuna imports. This country is also the largest buyer of Vietnam’s tuna. However, in the last 2 years, tuna imports into the US were unstable.

In the first 10 months of 2016, tuna imports into the US reached nearly 201 thousand MT, worth by US$1.3 billion, down 6% in volume and 4% in value compared to the same period in 2015. This was driven by a decline in imports of canned tuna. Meanwhile, imports of fresh/live/frozen tuna into the market slightly increased.

Currently, Vietnam’s processed and canned tuna exports into the US were also on the downward trend. According to statistics of General Department of Vietnam Customs, in Jan-Oct this year, Vietnam’s exports of this item to the US amounted to US$70 million, down 5% compared to the same period of 2015. Meanwhile, shipments of live/fresh/frozen/dried tuna (mainly frozen tuna loins/fillets HS code 0304) rose by 10%, with the value of nearly US$115 million.

VIETNAM’S TUNA EXPORTS TO THE US BY PRODUCTS (US$)

Products

Jan-Oct 2016

Jan-Oct 2015

Variation (%)

Canned tuna (HS code 16)

63,476,599

66,396,100

-4.4

Other processed tuna ( HS code 16)

6,760,491

7,448,831

-9.2

Live/fresh/frozen/dried tuna (HS code 03) (except for HS code 0304)

3,324,966

11,079,842

-70.0

Tuna HS code 0304 (except for fish paste and surimi)

111,445,474

92,854,482

20.0

Total

185,007,530

177,779,255

4.1

This year, Vietnam’s exports of frozen tuna loins/fillets (HS code 0304) picked up a large share in total tuna shipments to the US. For this item, Vietnam has to compete with Indonesia and the Philippines. However, the average export price of Vietnam tuna fillets/loins is more competitive. With the same tax rate of 0% and with this growth, Viet Nam expected to remain the 2nd largest seller of this item to the US or even overtake Indonesia to rank the 1st in the next few years.

Vietnam's tuna exports to the US still made up the largest proportion of over 40%. Exports in the second half of the year showed signs of recovery compared to the same period last year. Exports in the second half showed signs of recovery compared to the same period last year. Through the end of 2016, Vietnam’s tuna exports to the US predicted to reach about US$200 million, up 5% compared to 2015.

Written by Nguyen Ha

Compiled by Dieu Thuy

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Specialist on Tuna market
Ms Van Ha
Tel: +84 -4 37715055 (ext. 216)
Portal of Vietnam Association of Seafood Exporters and Producers (VASEP)
Add: 218 Road Nguyen Quy Canh, Zone A, An Phu An Khanh New Urban Area, District 2, HCM city, Vietnam
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