Tuna exports with HS code 16 are increasing
In the past 5 years, Vietnam's processed and canned tuna exports have tended to increase. In the first 4 months of the year alone, the export turnover of this product group increased from 91 million USD in 2020 to 154 million USD in 2024, an increase of 70%. In particular, Vietnam's canned tuna exports are gradually recovering, higher than the same period in 2019 before the COVID-19 pandemic.
On the contrary, exports of fresh and frozen tuna, mainly frozen tuna meat or loin with the HS code 0304, are unstable. After peaking in 2022, exports of this product group decreased sharply. Entering 2024, exports of product groups have increased again, but the increase is not high—up 6% over the same period.
According to experts' forecasts, convenience is key for shoppers, and value-added seafood that is pre-marinated or ready to heat and eat will continue to attract buyers looking to create combination meals to combine cooking with prepared dishes. Therefore, consumption demand for processed and canned tuna products will improve in the near future.
Exports to major markets accelerated
In April 2024, Vietnamese tuna products were exported to more than 90 markets. In particular, tuna exports to main markets such as the US, EU, Israel, Canada, Japan, or Mexico all increased faster.
In the US and EU markets, Russia, and Korea, the export growth rate in April 2024 compared to the same period doubled compared to the previous month, reaching 37%, 71%, 32%, and 158%, respectively. Notably, in the EU market, exports to the three leading markets, Italy, Germany, and the Netherlands, all grew "gallopingly" at three digits.
Along with that, tuna exports to some markets have reversed and increased, such as Japan, which increased by 33%, and Mexico, which increased by 43%.
However, according to businesses, this growth is due to a decrease in inventory in the markets, but actually market demand is still better.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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