In terms of the export structure of tuna products to the EU market, it is worth noting that export of other processed tuna tends to increase. Meanwhile, canned tuna products declined. Currently, other processed tuna products are dominant in the group of processed and canned tuna products to this market.
The top 3 biggest tuna export markets from Vietnam to the EU changed in 2018. With the impressive growth continuously at 3 digits in the past months, Spain is occupying the top position with a total export value of US$30 million. Followed by the Netherlands with US$25 million. Meanwhile, exports of tuna to Germany continued to decline, which made this market drop to the 3rd position.
According to ITC, in the first 10 months of 2018, EU tuna imports decreased by 47% compared to the same period in 2017. In particular, import of canned tuna declined by 46%, while imports of loin/fillets frozen tuna dropped by 47%.
In the market segment of canned tuna, Italy, Spain, France, England and Germany were the 5 largest import markets for this product in the EU. Compared to the same period in 2017, import of canned tuna of all 5 markets increased in value, but in terms of volume, only Spain has the growth.
Ecuador remained the largest supplier of canned processed tuna for the EU. The value of canned tuna processing from Ecuador to the EU accounted for 19% of the total import value of this market. Followed by Mauritius and the Philippines with 7% and 6% respectively. Meanwhile, Vietnam was the 14th largest supplier canned processed tuna for the EU, accounting for only 1.2%.
For this canned processed product of HS16 code, Vietnam was still difficult to compete with the import tax rate of 20.5%, while Ecuador has an advantage with 0% tax rate. China was subject to a 24% higher tax rate than Vietnam, while the Philippines enjoys 0%.
In the loin/ frozen tuna fillets, France, Spain, Italy, the Netherlands and Germany were the 5 largest import markets for this product in the EU. Compared to the same period in 2017, while Germany reduced imports of these products, the remaining 4 countries were all increasing. Vietnam was the second largest supplier of frozen loin/ filet tuna for the EU, after Korea.
In general, in 2018, because of the high price of tuna at Manta, the catch in this area decreased, causing the supply to be limited. So EU countries tend to find alternative suppliers from Asian countries like China or Vietnam.
For frozen tuna loin/ fillet, with a tariff of 14.5%, Vietnam has no advantage over Korea, or Mexico and Ecuador - the two countries were enjoying 0% tax.
(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.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
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