The decline occurred in almost all commodity groups, except for processed tuna HS code 16 (mainly frozen steamed tuna loin). In which, exports of frozen tuna meat/loin with HS code 0304 fell the most by 55%, exports of fresh/frozen/dried tuna decreased by 54% and canned tuna decreased by 46%.
2022 is a remarkable year for Vietnam's tuna industry as the export turnover reached a record of more than 1 billion USD, an increase of 34% compared to 2021. However, this growth is thanks to the strong growth in the domestic market in the first 3 quarters of 2022. In the fourth quarter, under the impact of inflation, Vietnam's tuna export decreased.This trend will continue in the first months of 2023. Unsurprisingly, tuna exports to main markets in January 2023 fell sharply.
The structure of Vietnam's tuna import market this month has changed . Notably, exports to new markets like Korea and Taiwan grew by 457% and 105% over the same period.
The US is still Vietnam's largest tuna importer, but the proportion of this market decreased compared to 2022. The value of tuna exports to this market in January 2023 was just over US$16 million, down 63% over the same period. Although inflation in the US has slowed down, concerns about a continued economic downturn are causing consumers to be more cautious in spendings. This is affecting US tuna imports from other countries.
Along with the US, the EU also recorded a sharp decline in the first month of 2023, down 42%, reaching nearly 9 million USD. This decline has caused the share of this market to decrease. The EU has dropped to the third position among the largest importers of Vietnamese tuna. The key tuna export markets in this market block in January were Germany, which increased by 25%, the Netherlands by 52% and Spain by 52%.
Meanwhile, exports to Israel recovered with an impressive growth rate of nearly 80% over the same period.
In the CPTPP market, Vietnam's tuna exports in January only increased slightly by 6%. Tuna exports to the largest import market in this block, Canada, decreased by 29%, but exports to Japan and Peru increased by 38% and 53%.
Vietnam's tuna export outlook in the first months of the year has not yet prospered as the world economy is forecasted to fall into a recession this year.
Compiled by Thuy Linh
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
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