Compared to September, Vietnamese tuna exports to major markets have seen many changes. Notably, the growth has returned to ASEAN and Canada. Meanwhile, tuna exports to the US market are showing signs of slowing down.
The US: Until the end of October 2019, the US continued to be Vietnam's largest tuna importer. The proportion of export to this market was still higher than the same period in 2018. Notwithstanding, after a period of continuous good growth, tuna export to the US in October has slowed down, making the proportion of the US in total tuna export of Vietnam decrease compared to the previous month. Tuna export value of Vietnam to the US in October was only equivalent to the same period in 2018, reaching US$26 million.
Currently, the US is the most diversified import market for Vietnamese tuna products with live, fresh and frozen and canned tuna products such as: Frozen yellowfin tuna loin, frozen yellowfin tuna cubes, frozen yellowfin tuna saku, canned bigeye tuna...
EU: Vietnamese tuna export to EU has not shown any sign of recovery. The export value of Vietnamese tuna to this market in October 2019 decreased by nearly 25% compared to October 2018. Therefore, in the first 10 months of 2019, Vietnamese exports to this market still fell by nearly 12% over the same period in 2018, reaching US$120 million. In particular, exports to the three largest importers in the block (Spain, Italia and the Netherlands) also declined by 7%,18% and 18% respectively.
ASEAN: Contrary to the trend of tuna exports to the EU, Vietnamese tuna exports to ASEAN are showing signs of recovery. The export value of Vietnamese tuna to this market in October rose by 10% compared to October 2018. However, due to the continuous decline in the previous months, the total export value in the first 10 months still slid by 3% over the same period in 2018, reaching US$43 million. In this market, Thailand continued to reduce Vietnamese tuna imports, while the Philippines and Indonesia tend to increase imports tuna from Vietnam.
Japan and Canada: These two markets are also continuing to increase tuna imports from Vietnam. Both countries are currently increasing imports of canned tuna from Vietnam, while reducing imports of live, fresh and frozen tuna. Vietnamese tuna is currently very attractive in these two markets after a gloomy period of export.
Mexico: In October, 2019 Mexico was still a thriving market. Vietnamese tuna exports to this market continued to grow at a high rate, up 255% over the same period in 2018. However, Vietnamese tuna exports to this market were not diversified. Currently, Vietnam only exported frozen tuna loin products to Mexico.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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