In May 2023 alone, Vietnam's tuna exports to the US, Japan, Canada and Thailand tended to decline. Meanwhile, exports to the EU have recovered.
The export market is gloomy
Among 97 import markets, the US is still the largest single import market of Vietnamese tuna, accounting for 37%. As of May this year, tuna exports to this market reached US$117 million, down 53%. Particularly in May, exports to this market decreased by 45% over the same period last year.
According to FAS.USDA data, in the first 4 months of 2023, total tuna imports into the US reached more than 99 thousand tons, worth US$662 million, down 10% in volume and 23% in value over the same period in 2022. Exports from most tuna suppliers to the US all declined.
Currently, inventories in the US market have gradually decreased, inflation has also decreased, but people are still facing previous debts, so consumer demand has not really recovered. In that context, US importers are more cautious. Therefore, at least by the end of this year, US tuna imports can recover.
Among 97 import markets, the US is still the largest single import market of Vietnamese tuna, accounting for 37%
Along with the US, tuna exports to markets participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also declined in May 2023. Export turnover to this market sector decreased by 18%, reaching more than 10 million USD. Accumulated in the first 5 months of the year, export turnover reached more than 46 million USD, down 15%. The cause of the decline in exports to this market sector is that exports to the two largest markets in the bloc, Japan and Canada, both dropped sharply in May 2023, by 32% and 31% respectively.
In the Japanese market, prolonged inflation pushed commodity prices up. Although commodity prices have been adjusted thanks to the government's energy subsidy programs, they still put pressure on consumption activities, reducing the purchasing power of Japanese households. This has affected the country's tuna imports.
Contrary to the US and CPTPP, tuna exports to the EU increased in May, with an increase of 15% over the same period, reaching nearly 17 million USD. This growth is due to the growth of the two largest import markets in the bloc, Germany and the Netherlands. In May alone, exports to these two markets increased by 66% and 172%, respectively.
Tuna exports to Israel also continued to increase strongly in May with an increase of 110%. This growth has contributed to bringing the total export turnover to this market in the first 5 months of the year to nearly 21 million USD, an increase of 83%.
Competition increases
In the context of a difficult market, tuna prices in Bangkok are climbing to a peak, while skipjack prices in Manta remain stable. Price of frozen whole skipjack tuna with size > 1.8kg delivered in Manta, Ecuador fluctuates at 1,800 USD - 1,825 USD/ton. This is putting a lot of pressure on Asian tuna producers, including Vietnam.
Vietnam’s tuna processing and exporting enterprises face more and more difficulties. Therefore, businesses expect the Prime Minister to quickly come up with practical support policies for businesses such as lowering interest rates, developing infrastructure, and adjusting policies to support imports of raw materials.
Compiled by Thuy Linh
In January 2025, Vietnam's shrimp exports to the UK reached over 16 million USD, an 8% increase compared to the same period last year. The UK is the sixth-largest individual market for Vietnam’s shrimp imports, accounting for 5.5% of the total shrimp exports to various markets. Shrimp also holds the largest share (70%) in Vietnam’s total seafood exports to the UK.
Nguyễn Đức Bình, vice director of Quảng Ngãi Province's Department of Agriculture and Rural Development, said that 4,259 out of 5,194 fishing boats (82 per cent) had registered for operations at sea.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
