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
(seafood.vasep.com.vn) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
The Seafood Expo Global is the largest seafood industry event in the world, truly becoming a professional playground and a strong foundation for connecting the international seafood community. The Seafood Expo Global (SEG) 2025 will take place from May 6 to May 8, 2025 in Barcelona, promising to be an important platform for the global seafood community to meet, trade, and seek business opportunities in seafood industry.
(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
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