Notably, while Vietnam's tuna exports in the first 5 months of 2023 to the EU all decreased over the same period, canned tuna exports increased sharply by 71% over the same period last year. With this increase, canned tuna is Vietnam's main export product to the EU in this period, accounting for more than 50% of the total export value.
Meanwhile, EU canned tuna imports are decreasing. The high price of skipjack tuna in the world pushed up the price of canned tuna imported into this market by 18% in the first 3 months of the year, reducing the purchasing power of EU importers. EU canned tuna imports during this period also decreased by 21% in volume. Imports of canned tuna from the EU from main sources have mostly decreased.
After a decline in April 2023, Vietnam's tuna exports to the EU increased again in May, up 15%
Among EU countries, Germany and the Netherlands are the two largest import markets of Vietnamese tuna in the first 5 months of the year. Compared to the same period in 2022, Vietnam's tuna exports to Germany and the Netherlands both increased by 23% and 26% respectively.
By the end of May 2023, Vietnam had more than 31 enterprises participating in exporting tuna to the EU market. In which, FoodTech, Bidifisco and Yueh Chyang Canned Food are the three leading companies in exporting to this market, accounting for more than 40% of total tuna export turnover.
This year, the combination of inflation, high inventories, and rising prices of canned tuna has led EU importers to seek increased imports from countries offering preferential tariffs, such as Vietnam. However, the current global situation regarding skipjack tuna prices remains unsettled. Moreover, the preferential tariff quotas allocated to Vietnam's canned tuna products under the EU-Vietnam Free Trade Agreement (EVFTA) are nearing exhaustion. Consequently, Vietnam's exports of this item are anticipated to decline in the latter half of the year.
|
TOP 10 VIETNAM TUNA EXPORTERS TO THE EU, Jan-May/2023 |
||
|
No |
Company |
Proportion (%) |
|
1 |
FOODTECH |
15 |
|
2 |
BIFISCO |
13 |
|
3 |
YUEH CHYANG CANNED FOOD |
13 |
|
4 |
KTCFOOD |
8 |
|
5 |
TRANG THUY SEAFOOD |
8 |
|
6 |
TUNA VIETNAM |
5 |
|
7 |
CANFOCO DANANG |
5 |
|
8 |
AHFISHCO |
5 |
|
9 |
EDISON FOODS |
4 |
|
10 |
HAI TRIEU Co., Ltd |
4 |
|
(Source: Customs data) |
||
Compiled by Thuy Linh
(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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