However, compared with the same period last year, Spain's imports of tuna from other countries did not increase much. According to Eurostat statistics, in the first seven months of this year, Spain's tuna imports increased only 0.1% in volume and 13% in value. Processed canned tuna and frozen yellowfin tuna continues to be the main products of Spain.
Ecuador is currently the largest supplier of tuna to the Spanish market, accounting for 21% of the market share, followed by China and the Philippines with the market share of 11% and 6% respectively. Vietnam is currently the 14th largest supplier, accounting for just under 1%.
This year, Spain's tuna imports from Ecuador fell, due to the limited supply. In addition, because of the application of tariff quotas of 25,000 for tuna fillets in the early months of this year, Spain is increasing the imports of this product from China and Vietnam.
For canned tuna products (Hs code 16), Vietnam have difficulties to compete with the 20.5% import tax rate, while Ecuador has the advantage of zero tariffs, which makes it the largest supplier in Spain. Vietnam ranks 15th, under both China and the Philippines. China is subject to a 24% tax rate higher than Vietnam, while the Philippines enjoys a 0% tax rate.
For frozen tuna fillet products for the Spanish market, Vietnam is the third largest supplier, however, with a 14.5% import tax rate, Vietnam has no advantage over Mexico and Ecuador, as the two countries are enjoying a 0% tax rate and becoming the leading the export of frozen tuna fillets to Spain.
|
TUNA IMPORTS TO SPAIN |
||||||
|
Suppliers |
Value (thousand US$) |
Volume (MT) |
||||
|
M1-7/2017 |
M1-8/2018 |
Variation (%) |
M1-7/2017 |
M1-8/2018 |
Variation (%) |
|
|
Ecuador |
199,952 |
169,688 |
-15.1 |
42,047 |
32,499 |
-22.7 |
|
China |
47,955 |
91,650 |
91.1 |
12,005 |
17,390 |
44.9 |
|
Philippines |
31,397 |
48,272 |
53.7 |
9,722 |
12,958 |
33.3 |
|
Mauritius |
33,950 |
47,185 |
39.0 |
7,569 |
10,728 |
41.7 |
|
Papua New Guinea |
31,827 |
46,096 |
44.8 |
7,345 |
8,449 |
15.0 |
|
Seychelles |
27,639 |
37,302 |
35.0 |
11,806 |
17,764 |
50.5 |
|
El Salvador |
41,014 |
36,833 |
-10.2 |
16,210 |
8,161 |
-49.7 |
|
Guatemala |
47,446 |
36,667 |
-22.7 |
14,750 |
10,937 |
-25.8 |
|
Mexico |
21,356 |
34,262 |
60.4 |
5,942 |
7,166 |
20.6 |
|
Cabo Verde |
15,166 |
23,163 |
52.7 |
5,561 |
8,060 |
44.9 |
|
Korea |
12,918 |
19,856 |
53.7 |
4,389 |
6,457 |
47.1 |
|
Curaçao |
13,737 |
17,357 |
26.4 |
7,256 |
8,915 |
22.9 |
|
Indonesia |
11,692 |
15,992 |
36.8 |
3,820 |
3,142 |
-17.8 |
|
Vietnam |
9,954 |
11,099 |
11.5 |
2,823 |
2,106 |
-25.4 |
|
Others |
160,650 |
159,764 |
-0.6 |
52,436 |
49,218 |
-6.1 |
|
Total |
706,653 |
795,186 |
12.5 |
203,681 |
203,950 |
0.1 |
|
(Source: ITC) |
||||||
(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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