Currently, the UK imports a lot of fresh and frozen tuna products from Vietnam, accounting for 99% of total export turnover. Compared to the same period, Vietnam's exports of these products to the UK increased by 98%. Meanwhile, exports of processed and canned tuna decreased.
Vietnam is the 13th largest tuna supplier in the UK market. Ecuador, Mauritius and Seychelles are leading this market.
However, this year due to the El Niño phenomenon, rainfall in Panama decreased. Drought is making it difficult to transport goods from South American countries, including Ecuador, to European countries through the Panama Canal. Shipping companies must choose alternative routes. The Strait of Magellan, at the tip of South America, is a natural waterway but is about 7,000 km from the Panama Canal and almost 6,000 km from the Port of Manta, so is a huge detour for container ships. Therefore, it can be said that this is an opportunity for Asian countries, including Vietnam, to increase tuna exports to European countries, including the UK.
Vietnam is the 13th largest tuna supplier in the UK market
Looking at the overall picture, in the context of high inflation, the increase in raw tuna prices causes the demand for tuna in many markets to decline. That's why advantages from free trade agreements like UKVFTA are creating competitiveness for Vietnamese tuna products in markets like the UK.
In addition, according to the latest information from the Government newspaper, on July 16, the UK signed an agreement and officially became the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The UK’s accession is expected to boost trade between this country and members of the CPTPP bloc, including Vietnam. Along with the trade agreement between Vietnam - UK (UKVFTA), incentives from CPTPP will open up opportunities for Vietnamese seafood products to enter the UK market, including tuna.
It is expected that Vietnam's tuna exports to the UK in the last months of the year will continue to be positive.
|
Top 5 Vietnamese tuna supplier to the UK, Jan- July 2023 |
||
|
No |
Company |
Proportion (%) |
|
1 |
DRAGON WAVES FROZEN FOOD FACTORY CO., LTD |
40 |
|
2 |
TITHICO |
14 |
|
3 |
Highland Dragon Enterprises |
14 |
|
4 |
BIDIFISCO |
14 |
|
5 |
TUNA VIETNAM CO.,LTD |
8 |
Compiled by Thuy Linh
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous 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
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
