At present, the European tuna sector feels the possible elimination of tariffs on canned tuna from Thailand and the advantages that have already been granted to another producer emerging from the Pacific -- Papua New Guinea – are threats.
This is added to the fact that the Philippines is seeking to enter the Generalised Preference System (GPS) Plus that the EU has in order to support developing countries.
Under this system, Philippine entrepreneurs are seeking to achieve the elimination of the current tariff of 24 per cent for canned tuna that is now imposed by Brussels on their country. The Philippines is one of the five largest producers of tuna in the world, and its tuna industry is anticipating an increase in production and exports to Europe.
The general secretary of the National Association of Manufacturers of Canned Fish and Shellfish (Anfaco-Cecopesca), Juan Manuel Vieites, mentioned the sector’s concern about the recent statements made by a Philippine leader, the newspaperFaro de Vigo reported.
The executive director of the Tuna Canners Association of the Philippines (TCAP), Francisco Buencamino, said last week that once the entry to GSP Plus is achieved, they expect that tuna exports to the EU increase by 64 per cent for next year, reported MindaNews.
According to Buencamino, the projected increase implies a rise in tuna exports to the EU market of two million cases, over 3.2 million cases sent last year for USD 123.3 million.
"Once we get into the GSP Plus program, our export prices (for canned tuna) will become more competitive, mainly because of the removal of the 24 per cent duyty," added the Philippine leader.
Exporters "will not need to adjust prices, as we have been compelled to do to remain globally competitive, to accommodate the burdensome duty imposed on EU imports of canned tuna from the Philippines," he concluded.
(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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