Processed tuna continued to be the main export product of China, accounting for over 53% of total export volume. In 2019, China tended to boost exports of processed tuna products, while reducing exports of live/fresh and frozen tuna products to markets. Compared to the same period in 2018, the country's canned tuna exports in the first 11 months of 2019 increased by 16%, while exports of live/fresh and frozen tuna fell by 12%.
In 2019, tuna products of China were exported to more than 86 markets in the world. In particular, EU, Thailand, Japan, the Philippines, Algeria, Vietnam, Russia and Iran were the 8 largest tuna importers of China, accounting for 77% of total tuna export volume of this country.
In 2019, due to the impact of the US-China trade war, China's tuna products exports to the US were subject to high tariffs of up to 25%, reducing the competitiveness of Chinese tuna products in the US market. Therefore, in 2019, China's tuna exports to the US sank. China, as a main supplier of tuna for the US market, has lost market share to Asian countries such as Thailand and Vietnam. The United States was also out of the list of the largest Chinese tuna importer. Instead, in 2019 Chinese tuna exporters shifted their exports to EU markets to offset the decline in the US market. In the first 11 months of 2019, China's tuna exports to the EU increased by 42% in volume and 18% in value. The EU was the largest importer for canned tuna products from China in 2019. Other than EU, China also tended to increase tuna exports to Middle Eastern countries, especially Iran. In recent years, China's tuna exports to Iran market have tended to grow continuously. In the first 11 months of 2019 alone, China's tuna exports to Iran increased by 19% in volume and 8% in value. Given this export trend of China, competition in the Middle East tuna market is expected to be more severe.
Besides, with the resource of being the largest fishing fleet in the world, China was the supplier of raw tuna for processing and re-export of some countries in Asia such as Thailand, Philippines and Vietnam. These contries imported alot of skipjack, yellowfin and frozen bigeye tuna from China. By the end of November 2019, while Thailand tended to increase tuna imports from China, imports of Vietnam and the Philippines decreased.
However, by early 2020, due to the outbreak of the Covid-19 in this country, China's tuna exports were stagnant, and tuna consumption in markets was also affected. It is expected that China's tuna exports will drop sharply, especially in the first months of 2020. The decline in tuna exports of China means that the supply of tuna materials on the world market will also be significantly affected.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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