Looking back at tuna exports in 2020
According to statistics of Vietnam Customs, in the first 11 months of 2020, Vietnam's tuna exports reached nearly 600 million USD, down 11% compared to the same period in 2019. In 2020, international markets had to suspend the trade activities in response to the pandemics. In some places, they applied the shutdown measures on restaurants, cafeterias, and crowded places. This has resulted in a decrease in consumption of tuna, especially fresh and frozen tuna products, in markets, the demand for long-preserved foods such as canned tuna in some markets roared.
This has a great impact on Vietnam's tuna exports. Vietnam's exports of fresh and frozen tuna contracted by 26% compared to the same period in 2019. Meanwhile, exports of processed and canned tuna products rose by 9%. This growth was mainly due to the growth in the export of canned tuna products.
Currently, Vietnamese tuna products have been exported to 106 markets around the world. Due to the impact of Covid-19, Vietnam's tuna exports to most major markets fell over the same period.
The US, EU, ASEAN, and Japan continued to be the four largest tuna importers of Vietnam. Tuna exports to the US and Southeast Asia tended to decrease over the same period in 2019 while exports to the EU and Japan climbed slightly over the same period. Notably, Vietnam's tuna exports to the EU after a period of negative growth have reversed thanks to the impact of the Free Trade Agreement between the European Union and Vietnam (EVFTA).
Besides, tuna exports to some other export markets have been showing positive growth, namely, Egypt and the Middle East. However, governments of the countries have taken measures to cope with the COVID-19 pandemic such as issuing a curfew at night, banning crowded gatherings, closing restaurants, leading to economic problems severely affected, the demand for food decreased. Moreover, Egypt has the policy to reduce imports and increase exports to narrow the trade deficit. There was a time when the Industry Committee of the Egyptian Parliament called for the government to suspend the import of frozen fish due to concerns about possible transmission of the coronavirus in this product.
In addition, the slow consumption in the market recently forced them to cut many new orders while the payback period was prolonged. This has made Vietnam's tuna exports to this market unstable and tended to slow down at the end of the year.
Market trends in 2021
At present, the disease situation of Covid-19 in the markets has not been controlled, moreover, there has been a risk of a rebound, so it is expected that the world tuna market cannot recover.
In the US market, the growth in re-importing Chinese cheap canned tuna products into the US is contributing to the competition in this market segment. Moreover, the demand for sustainable tuna products in the US has been tended to increase. Many major importers like Walmart, Bumble Bee, or Chicken of the Sea have made moves towards finding sustainable sources of tuna, such as making a commitment to supply 100% of Chunk light products certified by the Marine Stewardship Council (MSC)… This is expected to reduce the need to import conventional tuna products…
In the EU market, EVFTA will continue to be a driver for Vietnam's exports of tuna products, such as canned tuna, fresh and frozen tuna, to the EU market in 2021. However, frozen steamed tuna loin products (HS16), one of the key export products of Vietnam in the first months of the year, is expected to decline. Because these products from Vietnam to the EU have enjoyed tariff preferences as agreed in EVFTA, they are not exempt from tax to 0% according to the autonomous tariff rate quota (ATQ) when exporting to the EU. Meanwhile, in 2021, the EU Parliament increased the import quota for this product group according to the ATQ to 35,000 MT, which makes China's tuna export businesses benefit. Competition in this segment of the EU is expected to increase.
(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.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
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