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) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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