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 UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
(seafood.vasep.com.vn) In the first ten months of 2024, 448 Vietnamese companies were involved in exporting pangasius to international markets. Vinh Hoan remains the top exporter, holding a 14% share of Vietnam's total pangasius export value.
(seafood.vasep.com.vn) Vietnam's seafood sector is making impressive strides as it nears the end of the year. Aquaculture has maintained steady growth, while fishing activities have recovered thanks to favorable weather conditions.
(seafood.vasep.com.vn) To ensure sustainable shrimp farming and environmental protection, Soc Trang Province emphasizes raising awareness and improving the capacity of shrimp farmers through various forms of communication and by developing and replicating effective models.
(seafood.vasep.com.vn) To achieve the goal of making the province a national hub for high-quality shrimp post-larvae production and producing 50 billion shrimp post-larvae by 2025, Ninh Thuan has focused on implementing a comprehensive set of measures.
(seafood.vasep.com.vn) The seafood processing company Kyokuyo has just opened a seafood processing plant in Vietnam to reduce its reliance on China. In Japan, Kyokuyo ranks as the third-largest seafood producer, following Maruha Nichiro and Nissui.
(seafood.vasep.com.vn) Vietnam's total fishery production in the first 10 months of 2024 is estimated at 7,889.8 thousand tons, a 2.5% increase compared to the same period last year. Aquaculture contributed approximately 4,612.5 thousand tons, while capture fisheries accounted for 3,277.3 thousand tons.
(seafood.vasep.com.vn) Ms. To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), forecasts that pangasius export turnover could reach the target of USD2 billion in 2024. However, the industry will still face numerous challenges in the coming year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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