Vietnam raised exporting fresh/frozen tuna

In Jan-Aug 2016, tuna export value reached the highest in June with the year-on-year growth of 20.6%; exports in February hit the lowest with the deepest decline of 20.6%. After the fluctuations in Jan-May 2016, tuna exports from June to August reported the continuous growth from the same month of 2015.

Up in fresh/frozen tuna sales, down in canned tuna

According to statistics of Vietnam Customs, Vietnam’s exports of fresh/frozen/live tuna (HS 03) continued to dominate with the proportion of 58.3% of the total exports from 54.4% of the same period last year. Processed tuna exports (HS code 16) accounted for 41.7%; down from 45.6% in the same period last year.

Compared with the same period last year, exports of live/fresh/frozen tuna increased by 9.5% to US$180.7 million while processed tuna exports (HS code 16) fell 6.7% to US$129 million. Notably, exports of frozen tuna loin (HS code 0304) and other processed tuna (HS code 16) increased by 14.3% and 11%, respectively over the same period last year. Sales of fresh/frozen/live tuna (except for frozen tuna loin HS code 0304) and canned tuna in the first 8 months of this year decreased by 13% and 13.3%, respectively over the same period of 2015.

Boost tuna exports to Asia

Top 8 importing markets of Vietnam tuna including the U.S., EU, ASEAN, China, Israel, Japan, Canada, Mexico; accounted for 88.2% of total tuna export value of Vietnam. Exports to top 5 major markets reported the surge except for the EU (-11.5%). In which exports to China witnessed the best growth of 68.5%; followed by ASEAN (+26.7%), Israel (18%) and the U.S. (+1%).

The U.S.: After the decline in previous months, tuna exports to the U.S. since Jun 2016 showed the recovery compared to the same month of 2015. Tuna export value to the U.S. in August rose by 5% over the same period, reaching US$17 million. The figure in the first 8 months of this year increased 1% to US$128.6 million.

The U.S. mainly imported tuna HS code 0304 (except for fish paste and surimi) from Vietnam with the value of US$83.7 million in Jan-Aug 2016.

EU: Vietnam's tuna exports to the EU in Aug 2016 reached US$8.4 million; up 4.6% compared to Aug 2015. However, the figure in Jan-Aug 2016 declined 6.8% to reach US$64.2 million.

Italy continued to be the largest market of Vietnamese tuna in the EU bloc. Tuna exports to the market in Aug 2016 increased by 207.7%; the figure in the first 8 months of this year rose by 120% to hit US$16.7 million. Tuna exports to Belgium increased by 16.3% while exports to Germany continued to decline.

ASEAN: In the first 8 months of this year, Vietnam's tuna exports to ASEAN only decreased in January, exports in the other months saw the good growth compared to the same month last year. In Aug 2016, Vietnam delivered nearly US$4 million of tuna to the market; rising 39.6% year on year. The total tuna export value in the first 8 months of the year to the market reached over US$29.5 million, up 26.7% over the same period in 2015.

Japan: Japan has slipped to the 6^th position among top largest importing markets of Vietnam tuna through August 2016. Vietnam's tuna exports to Japan in August reached US$2 million, down 16.4% compared to the same period last year. The total export value in the first 8 months downed 11.5% to reach US$12.3 million.

Predictably, in the coming time, Vietnam's tuna exports to the U.S. will continue to increase thanks to the TPP. Exports to the EU remains low due to high taxes. Thanks to positive growth in exports to the markets like ASEAN, China and Israel, Vietnam's tuna exports are forecast to rise in the last 4 months of this year.

By Kim Thu