Exports of tuna HS code 16 are increasing
In the past 5 years, Vietnam's processed and canned tuna exports have tended to increase. In the first 4 months of the year alone, the export turnover of this product group has increased from 91 million USD in 2020 to 154 million USD in 2024, an increase of 70%. In particular, Vietnam's canned tuna exports are gradually recovering, higher than the same period in 2019 before the COVID-19 pandemic.
On the contrary, exports of fresh and frozen tuna, mainly frozen tuna meat or loin with the HS code 0304 code, are unstable. After peaking in 2022, exports of this product group decreased sharply. Entering 2024, exports of these products have increased again, but the increase is not high—up 6% over the same period.
According to experts' forecasts, convenience is key for shoppers, and value-added seafood that is pre-marinated or ready to heat and eat will continue to attract buyers looking to create combination meals to combine cooking with prepared dishes. Therefore, the consumption demand for processed and canned tuna products will improve soon.
Exports to major markets accelerated
In April 2024, Vietnamese tuna products were exported to more than 90 markets. In particular, tuna exports to main markets such as the US, EU, Israel, Canada, Japan, and Mexico all increased faster.
In the US and EU markets, Russia, and Korea, the export growth rate in April 2024 compared to the same period doubled compared to the previous month, reaching 37%, 71%, 32%, and 158%, respectively. Notably, in the EU market, exports to the three leading markets, Italy, Germany, and the Netherlands, all grew "gallopingly" at three digits.
Along with that, tuna exports to some markets have reversed and increased, such as Japan, which increased by 33%, and Mexico, which increased by 43%.
However, according to businesses, this growth is due to a decrease in inventory in the markets, but actually market demand is still better.
(seafood.vasep.com.vn) China and the US are the two largest whitefish import markets in the world. Vietnam is the second largest supplier for both markets (mainly supplying pangasius). Frozen pangasius fillets are still the main product imported from Vietnam by these two countries.
(seafood.vasep.com.vn) The “Bien Bach Dong Commune Shrimp-Rice Project” in Ca Mau province was granted the second BAP (Best Aquaculture Practices of the Global Aquaculture Alliance) certificate for shrimp products in the shrimp-rice specialized area in Thoi Binh district, Ca Mau province.
(seafood.vasep.com.vn)The red and yellow tilapia prices in An Giang have increased sharply, reaching a new record. Recently, traders in the provinces are purchasing red tilapia and tilapia at 50,000–51,000 VND/kg, the highest price ever. With this price, fish are exported to rafts, and farmers earn a 9,000–10,000 VND/kg profit.
(seafood.vasep.com.vn) In July 2024, Vietnam's tuna exports to the EU showed signs of decline compared to the same period, down 14%. In the first half of August, although Vietnam's tuna exports to the EU increased, exports of canned tuna continued to decrease sharply.
(seafood.vasep.com.vn) In July 2024, pangasius exports to the US continued to grow impressively. According to Vietnam Customs, there were nearly US$31 million pangasius exported to the US in July, up 69% over the same period last year. Cumulative pangasius exports to the US in the first 7 months reached more than US$190 million, up 20%.
(seafood.vasep.com.vn) According to the Department of Agriculture and Rural Development of Tra Vinh province, farmers in coastal areas of Cau Ngang, Tra Cu, Duyen Hai districts and Duyen Hai town have now cultivated over 1,800 hectares of whiteleg shrimp under a high-tech super-intensive model (high density), which is double the same period in 2023.
(seafood.vasep.com.vn) With the signs of recovery in pangasius exports, the increase in farming area and output, An Giang's fisheries sector has been actively supporting farmers and businesses to boost production, processing, and consumption in the last months of the year.
(seafood.vasep.com.vn) In July 2024, Vietnam's tuna exports continued to maintain growth momentum over the same period, increasing by 14% to nearly 87 million USD. However, the export growth rate is slowing down a lot compared to previous months. Cumulatively, in the first 7 months of the year, tuna export turnover reached 558 million USD, an increase of 22%.
(seafood.vasep.com.vn) With the goal of bringing exported seafood products to Vietnamese consumers, Vietfish 2024 organized by VASEP has, for the first time, focused on a dedicated area for showcasing seafood products for the domestic market. This event provides an opportunity for local consumers to access high-quality seafood products that meet international standards at reasonable prices, products that Vietnam is currently exporting to 170 countries.
(vasep.com.vn) According to the Binh Dinh Statistics Office, the total fishery production in July 2024 was estimated at 26,226.7 tons, a 2.2% increase (574 tons) compared to the same period last year. Cumulatively, for the first seven months of 2024, the total fishery production was estimated at 172,723.1 tons, a 2.9% increase (4,786.4 tons) year-on-year.
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