According to the statistics of Vietnam Customs, EU is the second largest tuna importer of Vietnam in the past 10 years. Since 2015, after Vietnam and EU officially ended negotiations and the agreement was released on 1/2/2016, Vietnam's tuna exports to the EU increased continuously.
Currently Vietnam mainly exports frozen loin/fillet tuna and canned tuna to the EU market in the past 10 years. Before 2014, Vietnam's frozen tuna loin/filet tuna exports to the EU growed continously. However, it tended to fall continuously for 2 years and climbed again in 2017. For canned tuna products, it tended to rose continuously in the period before 2014, but then also went down continuously.
Germany, Italy and Spain were the three largest tuna importers of Vietnam in the EU. Germany imported a lot of canned processed tuna products, while Italy and Spain mainly imported fresh and frozen tuna products.
Vietnam's tuna products mainly compete with similar products from Ecuador, Philippines, Indonesia, Thailand and China. Vietnam is difficult to compete with other countries due to the catches, the scale and capacity of tuna production of these countries are higher than ours. In addition, it is difficult for Vietnam to compete with the Philippines and Ecuador because they enjoy preferential tariffs, while Vietnam is not entitled to incentives. Vietnam's seafood industry has been considered a "mature" threshold, i.e, a group of commodities with a relatively high export value to the EU in recent years. Therefore, from January 1, 2014, Vietnam have not enjoyed the offer anymore. Vietnamese tuna products are subject to a higher tax rate of 20.5%. This has reduced the competitiveness of Vietnamese tuna products in the EU market.
Under the EVFTA commitment, the EU shall remove tariffs on fresh and frozen tuna products (except for frozen tuna loin/fillet HS code 0304) as soon as the agreement comes into effect. For products of frozen tuna loin/fillet tuna HS code 030487, the EU shall eliminate tariffs for Vietnam under a 3-year schedule, from the basic tax rate of 18%, as soon as the agreement comes into effect. With the products of steamed tuna loin/fillet (raw material for canned tuna production), the EU shall abolish tariffs for Vietnam according to the 7-year schedule, from the basic tax rate of 24%. Particularly for canned tuna products (such as canned tuna in oil, in pouch, products of canned tuna family...), the EU shall exempt for these Vietnam products with the quota of 11,500 MT/year.
Thus, when EVFTA takes effect, it will be an advantage for Vietnamese tuna exporters in the long run. However, in the short term, businesses shall face many difficulties. Because this FTA includes a comprehensive chapter on trade and sustainable development, covering relevant labor and environmental issues in trade relations between the EU and Vietnam.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's crab export value in March 2024 reached more than 18 million USD, an increase of 66% over the same period last year. Cumulatively, in the first 3 months of the year, export turnover reached more than 52 million USD, up 75% over the same period.
Vietnam's pangasius exports to Brazil reached nearly USD 28 million in the first quarter of 2024, surging by 44% compared to the same period in 2023.
(vasep.com.vn) According to Vinh Long Statistics Department, the whole province currently has 2,119 hectares of aquaculture area, an increase of 1.03% (equivalent to an increase of 21.62 hectares) over the same period last year; Of which the industrial pangasius farming area is 370.8 hectares, an increase of 0.12% or an increase of 0.42 hectares.
(seafood.vasep.com.vn) 2023 was an unsuccessful year not only for Vietnamese but also for Thailand tuna exporters in the Middle East market. Thailand's tuna exports to this market decreased by 21% in value and 27% in volume compared to 2022. Therefore, the Middle East dropped to second position among Thailand's export markets after the US, accounting for 22% of total export turnover in 2023.
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
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