Accumulated in the first 6 months of 2022, Vietnam tuna exports to this market reached nearly 3 million USD, up 203% over the same period.
According to statistics of Vietnam Customs, Vietnam's tuna exports to France increased over the same period. In which, the largest increase was in the group of processed and canned tuna products. Frozen tuna meat/loin with HS code 0304 is still the main export product group to this market, accounting for 63% of the total export value.
Vietnam is currently the 14th largest tuna supplier to the French market among non-EU suppliers. This year, French tuna imports have recovered and France tends to increase tuna imports from Asian countries other than Vietnam, such as the Philippines by 442%, Indonesia by 42%.
In the first few months of 2022, due to the good tuna catch of France and Spain, it is enough to supply tuna to the processors of this country and EU countries. Therefore, France tends to increase imports of frozen cooked tuna meat/loin, and imports of frozen whole tuna products decrease.
Along with that, the reopening of EU countries in the tourism industry also increases the demand for importing high-value fresh and frozen tuna. At the same time, the increased import demand for large canned tuna products for food service chains, restaurants, etc. has helped restore tuna imports in H1/2022.
However, as for the depreciation of the euro, countries are concerned about the possibility that Russia could cut off natural gas supplies to Europe and plunge the region into recession at any time. This will affect the entire economy, including the tuna fishing and processing industries of EU countries.
Although, on July 21, 2022, the European Central Bank (ECB) decided to raise interest rates by 50 basis points. However, according to the Reuters news agency, this 50 basis point increase by the ECB is still not strong enough compared to other central banks in the world, especially the US Federal Reserve, which raised interest rates to 75 basis points last month and there is likely to be another base rate hike this month.
High-priced raw materials are reducing the purchasing power of countries. However, raising interest rates, which increase the cost of borrowing during a recession, could increase difficulties for businesses and households. Specifically, tuna businesses in the EU are importing tuna in USD, so the depreciation of the euro makes tuna more expensive than ever. At the same time, a strong dollar can make final products imported into the EU more expensive and this will hold back demand.
Compiled by My Hanh
(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.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
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