Exports of tuna products increased over the same period
Compared to the same period in 2020, Vietnam's exports of all four groups of tuna products increased. In which, other processed tuna products, mainly frozen steamed tuna loin, increased the most by 44% over the same period.
Export of meat products/tuna fillets accounted for the highest proportion of 47%, reaching US$139 million, up 28% over the same period. Followed by canned tuna products accounted for 27%, reaching $ 78 million, up 2.4%.
In the first three quarters of 2020, the impact of the Covid-19 pandemic caused the demand for canned or bagged tuna in markets to increase rapidly. However, from the fourth quarter of 2020 onwards, the demand for canned tuna slowed down. The reason is that the high inventory of canned tuna in markets has led to lower import demand in markets. As a result, Vietnam's canned tuna export growth has also slowed down.
Meanwhile, vaccination against Covid-19 has been widely conducted in countries and markets have begun to reopen. Food service points, restaurants, etc. have begun to reopen, so the demand for items such as canned raw tuna or frozen tuna in markets tends to increase.
Exports to main markets maintained good growths
Vietnam's tuna products have been exported to 88 markets around the world. Exports to main markets were mostly higher than the same period last year.
In particular, the US and EU are still the dominant markets for Vietnam's tuna exports and continue to have good and stable growth rates.
In the US, expanded vaccination and the government's economic stimulus package have boosted demand for seafood, including tuna. Demand recovered not only in the food service, restaurant, and hotel segments, but also in the retail segment. Vietnam's tuna exports to the US market have grown continuously in the past 3 months. By the end of May, tuna exports to this market reached more than 124 million USD, up 22% over the same period. The US is increasing imports of fresh and frozen tuna from Vietnam, while reducing imports of canned tuna over the same period. High inventory of canned tuna and high transportation costs are affecting Vietnam's exports of this item.
The effect of the EVFTA Agreement continues to promote Vietnam's tuna exports to the EU market. Particularly in May 2021, Vietnam's tuna exports to this market increased by nearly 75% over the same period. Some markets in the EU that have good import growth rates are Italy up 121%, Germany up 18%, Poland up 444%, Romania up 110%, France up 74%...
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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
