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.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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