In 2019, imports of 2 groups of live, fresh, frozen and canned, processed tuna of the US increased over the same period. In the first eight months of 2019, US's live, fresh and frozen tuna imports increased by 16% over the same period in 2018, while canned tuna imports climbed by 2.5%.
In the market segment of live, fresh and frozen tuna in the US, the positive market trend has attracted many suppliers. US's consumption of live, fresh and frozen tuna in the first 8 months of 2019 has improved. As a result, US imports of live, fresh and frozen tuna from major suppliers mostly increased during this period.
Indonesia, Vietnam and the Philippines are currently the 3 largest suppliers of live, fresh and frozen tuna for the US market. This year, Vietnam's market share in live, fresh and frozen tuna segment is on the rise compared to the same period. In 2018, Vietnam accounted for only 16% of the market share in this segment, in 2019 the market share went up to 22%. Moreover, the export growth rate of Vietnam's live, fresh and frozen tuna (55%) was also higher than that of Indonesia (31%) and the Philippines (4%).
In the segment of processed and canned tuna, the market trend also rose similarly. US's imports of processed and canned tuna rose, demonstrating that the demand for processed and canned tuna has improved.
Canned tuna accounted for about 60% of canned seafood consumed in the US. Canned tuna consumption per capita of the US decreased from 1.7kg (in 1989) to 952g (in 2017). Notwithstanding, the US population increased very quickly, from 247 million in 1989 to 327 million in 2017. As a result, canned tuna imports of the US have improved.
Imports of frozen steamed tuna loin and canned tuna (canned tuna in water salt/in oil) remained unchanged from the previous year. In contrast, imports of packaged/conveniently packaged light meat tuna (skipjack and yellowfin tuna) and white meat tuna (longfin, albacore tuna) tended to increase. This showed that the US market increasingly favor better quality tuna products.
A positive trend of canned, processed tuna in the US market has attracted the supply from big tuna suppliers in the world. Canned, processed tuna imports of the US from 8 main suppliers increased over the same period. In particular, Thailand, Ecuador and Vietnam were the 3 largest suppliers.
In this segment, the market share of Vietnam also increased over the same period. In 2018, Vietnam accounted for only 7% of the market share in the US canned, processed tuna segment, in 2019 the market share went up to more than 10%.
The export growth rate of Vietnamese canned, processed tuna to the US was also at a good rate, up 51% over the same period and was higher than Thailand (up 5%) and Ecuador (up 2%).
(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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