However, in July, Vietnam's tuna exports to some main markets have tended to go down. Specifically, tuna exports to Israel and ASEAN continued to decline. Besides, after a period of good growth, exports to the EU and China in July dropped. In contrast, exports to Japan have a good recovery.
The US
In July, the US continued to increase tuna imports from Vietnam. The share of the US in total tuna exports of Vietnam is increasing and now accounts for 44%. By the end of July 2019, Vietnam's tuna exports to the US reached US $ 189 million, up nearly 61% over the same period in 2018. This shows the export trend in the first half of this year, most of the Vietnamese tuna products are exported to the US market after exports to EU and Israel slid.
EU
This year, Vietnam's tuna exports to the EU were not very favorable. After the recovery in the second quarter of 2017, Vietnam's tuna exports in July were not satisfactory. Tuna export value of Vietnam to this market in July 2019 decreased by 20%, reaching US$10 million. Therefore, in the first 7 months of 2019, Vietnam's tuna exports to the EU was only nearly US$82 million, down by 2.4% compared to the same period in 2018.
In July, while exports to Italy continued to increase incredibly by 337% over the same period.Tuna exports to Germany and the Netherlands continuously dropped.
The US have increased import tax on Chinese tuna products in this year, so China have switched to export tuna to the EU.This has led to increased competitiveness in the EU tuna market. Besides, tuna inventory in the EU is currently at a high level. All of these have affected EU tuna imports from Vietnam.
Japan
Vietnam's tuna exports to Japan continued to have good growth in July 2019. This has helped to raise the total value of Vietnam's tuna exports to this market in the first 7 months of 2019, up from the same period in 2018. Exports of frozen tuna loin/fillets from Vietnam to this market continuously declined.
ASEAN
In July, Vietnam's tuna exports to ASEAN reversed to increase. Tuna export value of Vietnam to this market increased by 47% over the same period, reaching US$5.5 million. However, due to the decline in previous months, the total export value in 7 months still declined by 2.5%. The growth in exports to ASEAN in July was due to the growth in tuna exports to Thailand in this month. This year, exports of processed tuna from Vietnam to Thailand decreased, while exports of fresh/live and frozen tuna increased over the same period.
It is forecasted that Vietnam's tuna exports in the coming months will continue the current growth momentum.
(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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