Exports of canned tuna, the main product that Vietnam exported to this market, increased 84% year on year. Tuna live / fresh / frozen / dried (code 03) saw strongest growth at 7.750% from the same period in 2014.
Among EU nations, Germany, Spain and Italy were largest import markets of Vietnam tuna. While imports of Germany and Spain rose, those of Italy reduced. Vietnam's tuna exports to Spain increased most of this period and therefore, Spain replaced Netherlands in the top 3 largest importing markets of tuna from Vietnam.
In EU, Germany was the biggest market for Vietnam's tuna. As of 15th February 2015, Vietnam earned US$ 5.6 million from tuna sales to this market, up 63.7% year on year. Requiring non-FAD tuna, Germany importers have eyed on suppliers from Vietnam.
67% of canned tuna of the EU are from Spain. In order to have sufficient raw material, imports are needed and yet, Spain is currently the largest market for tuna from Vietnam. Until early February 2015, Vietnam earned US$ 2.6 million from tuna exports to Spain. This reports a big increase of 125%.
Statistics of the International Trade Centre (ITC) revealed that tuna imports of EU countries in 2014 decreased comparing to 2013. Spain was the biggest tuna importing market. Tuna imports of EU in 2014 originated from 89 countries, valued at US$ 3.4 billion, down 33.7%. Spain, Thailand and Ecuador were top tuna exporters to EU while Vietnam stayed at the 22nd place.
As marine capture was not sufficient for process, EU processors depend on seafood imports. Imports made up 63% to 65% of total seafood in EU, to some species, the percentage can be up to 90%. Spain, France, Italy and Portugal, major canned tuna producers in the EU, are increasing imports of frozen tuna loins for process. The industry provides 15,000 jobs. While France is in need of quota increase to 25,000 MT from the current quota of 22,000 MT, Italy needs to import 30,000 MT of tuna.
Being tax exempted, Ecuador is the largest supplier of semi-processed tuna loins in tuna processing plants in Spain and Italy. The euro was at 11-year low but skipjack price plummeted to US$ 1,000/MT. If the euro continues to depreciate, tuna consumption in the EU will decrease, causing canned tuna imports to decline.
Vietnam tuna exports in 2015, will benefit from FTA to be signed with the EU. Accordingly, 90% of goods (including seafood products) from Vietnam to the EU fisheries will be tax exempted.
(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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