The export growth rate to main markets in August tended to slow down. In addition to the decline in exports to the EU, Israel and China, tuna exports to Canada in this month also showed signs of slipping.
The US
Tuna exports to the US were very positive in August with a growth rate of 31%. As a result, the total value of tuna exports to the US in the first 8 months of 2019 climbbed by 56% over the same period in 2018. Exports of tuna product groups of Vietnam to the US all have increased over the same period in 2018, except live, fresh, frozen and dried tuna (excluding frozen tuna filets/loin). Among the product groups, frozen tuna filets/loin remained the largest proportion of Vietnam's total tuna exports to the US at 63%. Although canned tuna products accounted for a smaller share, yet exports this products are growing rapidly.
EU
Vietnamese tuna exports to the EU have not recovered. Tuna export value to this market continued to go down over the same period in 2018, reaching only nearly US$96 million, down 6.3%. Notwithstanding, the good news was that exports to Italy and Spain, the two largest tuna importers in Europe, are increasing tuna imports from Vietnam. Currently Italia and Spain are also the two largest importers of Vietnamese tuna in the EU.
Italia increased imports of live, fresh, frozen and dried tuna (excluding frozen tuna filets/loin) and other processed tuna (frozen steamed tuna loin...) while Spain tended to rise import of canned tuna and frozen tuna loin/fillets.
In contrast, tuna exports to the Netherlands continued to decline in August. Hence, the total export value of tuna to this market in the first 8 months of 2019, down 11.5%, only reaching nearly US$15 million.
ASEAN
In August, Vietnamese tuna exports to ASEAN continued to climb. However, the amount of growth was still not enough to offset the decline in the previous months, so the export value in the first 8 months of 2019 only reached US$ 33 million, down 0.9% over the same period in 2018. At present, Vietnamese live, fresh, frozen and dried fresh tuna exports to ASEAN are on the rise, while canned tuna exports tends to decrease.
Japan
In August 2019 tuna exports to Japanese market continued to grow well, reaching US$3.2 million, up 48% over the same period in 2018. In particular, the export of Vietnamese tuna product groups to the US all rose over the same period in 2018, except for frozen tuna fillets/loin. Notably, the group of canned tuna products tended to climbbed over the same period in 2018.
It is forecasted that tuna exports shall go up in the last months of the year, yet the growth rate will be at average level.
(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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