In 2022, Germany is the largest tuna import market of Vietnam in the EU bloc, accounting for about 3% of total tuna export turnover, up 20% compared to 2021.
Canned tuna and frozen tuna meat/loin are still Vietnam's main export products to Germany, accounting for 63% and 30% respectively in the first 2 months of 2023. Compared to the same period in 2022, Vietnam's exports of both these products increased by 28% and 68% respectively.
According to data from the Federal Statistical Office of Germany, the inflation rate in December 2022 dropped from a record high of 10.4% in October 2022 to 8.1%. Prices fell thanks to a one-time payment under the government bailout package to consumers' winter gas bills in December.
According to statistics of Vietnam Customs, Germany is one of the few markets of Vietnamese tuna that can maintain a good growth momentum in the first two months of 2023
However, the effect of this package seemed to have waned in January 2023, when the inflation rate rebounded to 8.7% and the prices of consumer goods, household goods and services simultaneously increased. Food prices in Germany also increased by 21.8% in February 2023 compared with the same period last year. The inflation rate for groceries is still more than double the overall inflation rate. This is expected to cause Germans to still tighten their spending. Inflation will continue to make German tuna imports unstable this year.
Besides, preferential tariff quotas for processed and canned tuna products from Vietnam to the EU are gradually being used up while inventories are still high. Therefore, it is expected that Vietnam's tuna exports to this market will slow down.
Currently, there are 11 companies participating in exporting tuna to the German market. FoodTech, KTCFood and Bidifisco are the 3 biggest tuna exporters to this market, accounting for 64% of the total export turnover to this market.
|
Top 5 Vietnamese tuna exporters to Germany |
||
|
No |
Company |
Proportion (%) |
|
1 |
Foodtech |
29 |
|
2 |
KTCFood |
20 |
|
3 |
Bidifisco |
15 |
|
4 |
EDISON FOODS |
13 |
|
5 |
HALONG CANFOCO - DA NANG CO. LTD |
9 |
Compiled by Thuy Linh
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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