In the first 8 months of this year, tuna inventories in major markets such as the US and EU were at a high level, causing a decrease in import demand in these markets. This pushes Vietnamese tuna businesses to shift to other potential markets such as Mexico.
Mexico is the market with the second highest per capita income in Latin America. This is also a market in the CPTPP bloc. Fishery trade between Vietnam and Mexico has gained a remarkable boost since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect in early 2019.
According to the CPTPP Agreement, import and export tax on frozen tuna meat/fillets of Vietnam with HS code 0304 of Vietnam will be reduced to 0% from 2021. Besides, in 2021, Mexico's tuna catch will decrease due to Due to the impact of the Covid-19 pandemic and the decline in resources, the country had to increase imports of tuna from outside. And this is creating attraction for Vietnam for Mexican tuna importers. Tuna is currently the second most exported aquatic product to Mexico after pangasius.
Currently, the average export price of frozen tuna meat/fillet HS code 030487 to the Mexican market ranges from 6.6 to 7.1 USD/kg on average. As of the end of August, only 5 Vietnamese enterprises are exporting tuna to Mexico: Bidifisco, Hai Thanh Seafood, Dai Viet Seafood, Hong Phat Service Produce Co., Ltd, and Tithico
Although accounting for only 2% of tuna export turnover, with the current growth of tuna exports and the advantage of import tax under the CPTPP agreement, the Mexican market will be a potential and promising choice of Vietnam. many businesses in the near future.
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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