In the first 7 months of 2020, exports of other processed tuna from Vietnam to Japan tend to spike, while exports of fresh, live, frozen, and canned tuna have slumped. Due to the fact that the proportion of exports of processed and canned tuna products increasing from 62% in the first 7 months of 2019 to more than 77% in the same period in 2020. Notably, the export of other processed tuna products, especially frozen tuna loin products, HS code 16041490 continued to jump compared to the same period in 2019.
Compared to the same period in 2019, the average export price of processed tuna to Japan fell, while the price of frozen tuna meat/ fillets tended to increase.
There were nearly 21 businesses that exported tuna to Japan in the first 7 months of 2020.
The growing outbreak of Covid-19 epidemic in the Japanese market continued to affect the tuna industry. Japanese people are changing their tuna consumption habits, switching from eating at restaurant to eating at home. Although sushi restaurants have converted to take-out, sales have still declined.
Retail sales of sushi and sashimi to households for home consumption elevated sharply, but sales of tuna products to restaurants remained stagnant. Japanese fresh tuna market is declining. The price of premium fresh tuna for sashimi processing in Japan has decreased, in addition, the cancellation of the spring festival and the rescheduling of the 2020 Olympics to 2021 has caused the demand for tuna in the market decline.
It is expected that in the coming time, when the Covid epidemic is not under control, Vietnamese tuna export to Japan is unlikely to go up.
Vĩnh Hoàn Corporation (stock code: VHC – HoSE) has outlined an ambitious business plan for 2025, targeting revenue of VND 13,800 billion (up 10.3% from 2024) and after-tax profit of VND 1,500 billion (up 22.3%). This follows a successful 2024, where the company recorded revenue of VND 12,513 billion (exceeding 109% of the plan) and after-tax profit of VND 1,226 billion (surpassing 123% of the VND 1,000 billion profit target). The 2025 Annual General Meeting of Shareholders is scheduled for April 24 in Ho Chi Minh City to discuss these plans.
Sa Giang Import-Export Corporation continues to assert its position as one of the leading export enterprises in Đồng Tháp, achieving a revenue of thousands of billions of VND from shrimp crackers and rice paper in the past year.
(seafood.vasep.com.vn) After three years of implementation, the UK-Vietnam Free Trade Agreement (UKVFTA) has yielded positive results for Vietnam’s tuna exports. The United Kingdom officially became a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on December 15, 2024. This is expected to bring significant benefits for seafood enterprises, particularly in terms of tariffs and intra-bloc origin regulations - especially for tuna products.
On March 3, Sa Giang and Citek officially launched a comprehensive enterprise digital transformation project using the GROW with SAP solution.
(seafood.vasep.com.vn) According to the Action Plan to implement the growth targets for agriculture, forestry, and aquaculture from the Bình Định Department of Agriculture and Environment, which has just been issued, the goal for 2025 is to achieve an overall GRDP growth rate for the entire sector from 3.6% to 3.8%, with the highest effort to reach a growth rate of 3.8%.
(seafood.vasep.com.vn) The area for Pangasius farming in Dong Thap currently exceeds 1,332 hectares, with over 180 hectares harvested, yielding 81,733 tons of fish. The Pangasius industry has 87% of its production area in line with the planning regulations; most production areas apply technical procedures and standards to meet the market requirements of importing countries.
The UK joining CPTPP not only does not create barriers but also brings many advantages and great opportunities for domestic footwear and seafood businesses.
Deputy Minister of Agriculture and Environment Phùng Đức Tiến talked to Việt Nam News reporter Tố Như about the future development orientation after the ministry officially began operations.
(vasep.com.vn) Vietnam is signatory to three new-generation Free Trade Agreements (FTAs), and specifically with the United Kingdom (UK), maintains two FTAs: the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the UK-Vietnam Free Trade Agreement (UKVFTA). The confluence of content and approaches within these two Agreements fosters a conducive environment for enterprises from both nations to maximally leverage trade and investment opportunities, notably encompassing Pangasius exports to the UK.
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