Exports of fresh/live/frozen/dried tuna declined by 16%, while those of other tuna products all increased compared to the same period in 2017. Sales of frozen tuna loins/fillets (HS code 0304) continued to take a large share of 49%, followed by canned tuna with 28%.
The top eight major tuna importing markets of Vietnam included the U.S, the EU, Israel, ASEAN, Japan, Canada, Mexico and China, accounting for 88% of Vietnam’s total tuna export value. Exports to most of these markets witnessed the good growth, except the U.S, Canada and Mexico.
The U.S
After the growth in January, tuna exports to the U.S were on the downward trend. In the first three months of this year, Vietnam's tuna exports to the U.S gained US$40.8 million, down 8.4% over the same period last year. However, the U.S continues to be Vietnam's largest tuna buyer in Jan-Mar 2018, accounting for 30%.
In the period, although Vietnam's other processed tuna exports to the U.S increased by 164% over the same period last year, with the share of 8% in the total export value, this didn’t offset for the decrease in the total exports. Specifically, exports of frozen tuna loins/fillets hit US$24 million, down 12%; exports of canned tuna were US$13 million, down 11%; and exports of fresh/live/frozen/dried tuna reached US$534 thousand, down 58%. In this quarter, frozen tuna loins/fillets remained as the main export product of Vietnam.
The EU
Vietnam's tuna exports to the EU continued the upward trend. The figure in the first three months of 2018 was US$34.5 million, up 25% over the same period.
Exports of Vietnam’s tuna products in this period increased, except for canned tuna. Frozen raw tuna loins/fillets HS code 0304 remained as still the key export products, accounting for 40% of total export value. In the period, sales of other processed tuna to the market sharply increased by 332% to see US$ 6 million.
Japan
In the first three months of this year, Vietnam's tuna export to Japan showed the good growth from a year before. The figure in Jan-Mar this year reached US$6.2 million, up 27% over the same period in 2017.
Exports of fresh/live/frozen/dried tuna to Japan decreased by 95% over the same period while sales of other tuna products of Vietnam to the market had grown well.
(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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