In the same period last year, Israel increased imports of fresh/live/frozen/dried tuna from Vietnam, this year the country boosted those of canned/processed item. In Jan-Jun 2017, Vietnam’s exports of processed tuna HS code 16 in the first half of 2017 reached US$2.5 million, accounting for 67% of total export value, up 153% over the same period of 2016.
|
VIETNAM TUNA EXPORTS TO ISRAEL BY PRODUCTS (US$) |
|||
|
Products |
Jan-Jun 2017 |
Proportion (%) |
Compared to 2016 (%) |
|
Tuna HS code 03 (1) |
1,240,374 |
33.4 |
23.8 |
|
Live/fresh/frozen/dried tuna (HS code 03, except for HS code 0304) |
206,992 |
|
11.3 |
|
Tuna (HS code 0304) |
1,033,383 |
|
26.6 |
|
Processed tuna HS code 16 (2) |
2,474,655 |
66.6 |
153.0 |
|
Canned tuna (HS code 16) |
671,007 |
|
213.1 |
|
Other processed tuna (HS code 16) |
1,803,648 |
|
136.1 |
|
Total (1 + 2) |
3,715,029 |
100.0 |
87.6 |
|
(Source: General Department of Vietnam Customs) |
|||
Thailand, Vietnam and China were top three biggest tuna suppliers to the market, accounting for 40%, 34% and 6%, respectively. This year, Israel increased tuna imports from Thailand and Vietnam and reduced imports from China.
Thailand and Vietnam stayed as the two largest exporters of canned tuna to Israel. Currently, imports of the item from Thailand occupied 49% while those from Vietnam accounted for 27%. Exports of canned tuna from Thailand and Vietnam to the market have all gone up compared to the same period last year. However, this year the export growth rate of processed/canned tuna from Vietnam (377%) to the market was much higher than that from Thailand (93%). Thus, Vietnam’s tuna products mainly compete with the same items from Thailand.
Meanwhile, in Israel’s frozen tuna segment, Vietnam kept as the main supplier to the market. Therefore, Israel continues to be the potential importing market of Vietnam’s frozen tuna in the coming time.
Vietnam's tuna export to Israel expected to go on the upward trend. Enterprises should boost their exports of frozen tuna loins/ fillets to the Israel market.
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The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
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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.
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(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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