In 2022, the price of transportation, vegetable oil, and steel soars have skyrocketed, pushing up the price of finished canned tuna. This has caused the import demand of canned tuna to decline and countries tend to increase imports of frozen tuna loins for domestic production to reduce costs. This has affected the structure of Vietnam's export tuna products.
Besides, from the end of 2022 until now, the price of whole fresh/frozen tuna on the world market has remained high, due to the low catch in the sea. Therefore, the market demand for whole tuna imports in the first month of 2023 is low. Moreover, the preferential tariff quotas for the group of frozen steamed tuna loins under free trade agreements such as the EVFTA, the CPTPP boosted export orders.
Exports of processed tuna products HS code 16, mainly frozen steamed tuna loin, increased by 25% over the same period in 2022
According to statistics of Vietnam Customs, Vietnam's exports of other processed tuna products HS code 16 have grown continuously from August 2022 until now.
This growth is thanks to the promotion of other processed tuna exports to key markets. The top 10 largest import markets accounted for 93% of the total export value of this product group in January.
In January 2023, tuna exports to main import markets such as the US, Japan, Egypt and Australia decreased over the same period. However, Vietnam's other processed tuna exports to Israel increased at a "galloping" rate of 2,283% over the same period. With this growth rate, Israel from the 10th position in the top of other processed tuna import markets of Vietnam in January 2022 has risen to become the second largest importer.
Along with Israel, Vietnam's other processed tuna exports to other main markets such as Peru, Canada, Thailand, Korea, Italy, Mexico or Chile all increased over the same period.
Currently, the price of whole tuna in the world market has not shown any signs of cooling down. The preferential tariff quotas are gradually used up. All of these are expected to further boost exports of processed tuna products, especially frozen steamed tuna loins in the first three months of 2023.
|
VIETNAM’S OTHER PROCESSED TUNA EXPORTS ( HS CODE 16) (Unit: USD) |
|||
|
Market |
Jan/2022 |
Jan/2023 |
Change(%) |
|
The US |
6,133,016 |
3,731,517 |
-39 |
|
Israel |
98,400 |
2,345,059 |
2,283 |
|
Peru |
993,640 |
1,522,653 |
53 |
|
Canada |
837,784 |
1,290,866 |
54 |
|
Thailand |
682.758 |
1,028,698 |
51 |
|
South Korea |
132,000 |
816,380 |
518 |
|
Japan |
886,838 |
814,476 |
-8 |
|
Italy |
|
696,357 |
|
|
Mexico |
590,604 |
676,143 |
14 |
|
Chile |
|
507,630 |
|
|
Others |
1,205,998 |
1,043,758 |
-13 |
|
Total |
11,561,038 |
14,473,536 |
25 |
Compiled by Thuy Linh
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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