In early 2021, the crisis of lack of containers caused the cost of transporting frozen seafood exports to the US to skyrocket, many orders could not be fulfilled, or delivery was not on time… Besides, the US importers often buy goods at FOB (shipping on board) prices, so many importers have delayed orders due to damage. This is one of the reasons why Vietnam's tuna exports to the US declined in the first 2 months of the year.
In early 2021, because the Covid-19 epidemic continued to break out in the US, the country's imports of processed and canned tuna continued to increase. According to statistics from the World Trade Center (ITC), US imports of processed and canned tuna in the first two months of 2021 raised 21% in volume over the same period in 2020, while imports of fresh and frozen tuna from the US in the first 2 months of 2021 were up 21% in volume compared to the same period in 2020.
This trend has also affected Vietnam's tuna exports to the US market. Vietnam's processed and canned tuna exports to the US continued to increase, while fresh and frozen tuna exports decreased.
Compared to the same period last year, Vietnamese tuna products exported to the US have lower prices. The price of frozen steamed tuna loin from Vietnam exported to the US fluctuates at $6.4 - 6.6 USD/kg. And frozen tuna meat/fillets ranged at $9.3 - 9.9/kg.
According to statistics from the International Trade Center (ITC), in the US frozen tuna meat/fillet market segment in the first months of 2021, Vietnamese products have good competitive prices and are relatively stable compared with countries such as the Philippines, Indonesia or Thailand.
As for processed and canned tuna products, this year, the average export price of Vietnamese products tends to be higher than that of rival countries such as Thailand, Ecuador or Mauritius. The average import price of these products from Vietnam to the US is the highest among the four main suppliers. This is helping Ecuador to gain market share from Vietnam in this market segment in the US.
In the first quarter of this year, there were about 40 enterprises participating in exporting tuna to the US market. In which, Mariso Vietnam, Highland Dragon and Dragon Waves are the 3 largest tuna exporters.
Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
Regulations on the protection and sustainable development of aquatic resources, Việt Nam's legitimate rights at sea in accordance with international law and the achievements that the country has carved out to remove the European Union’s “yellow card” will be brought closer to local people.
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