Specifically, Vietnam's tuna export value accumulated in the first 3 months of the year reached over 259 million USD, up 72% over the same period in 2021, and 1.6 times higher than the same period in 2019 - before the outbreak of the Covid-19 pandemic.
Export orders of high-value frozen tuna meat/fillets with HS code HS0304 in the first three months of this year tended to increase sharply, up 123% over the same period last year, reaching $184 million. Notably, the share of the export value of this product group increased from 55% in the first quarter of 2021 to 72% in the first quarter of this year. The export of other processed tuna products, mainly frozen steamed tuna loin, also increased by 37% over the same period. Meanwhile, the export of canned tuna products observed a downward trend.
As demand was recovering, Vietnam's tuna exports to main markets continued to grow in March.
US By the end of March 2022, the total value of Vietnam's tuna exports to the US reached nearly 137 million USD, up 116% over the same period last year, in which, the export value in March 2022 reached nearly 57 million USD, up 84%. As such, the US continues to be the largest tuna export market in Vietnam. However, tuna production in the EPO region is low, which makes the supply of tuna from the Americas like Ecuador decrease. Therefore the US will increase imports from countries in other regions like Thailand or Vietnam. Therefore, it is forecasted that exports to the US market will continue to increase in the first half of this year.
EU
Tariff incentives from the Free Trade Agreement between Vietnam and the EU (EVFTA) continue to promote Vietnamese tuna products to this market in March 2022. However, the escalating freight rates are affecting exports to this market, as most shipments are exported at CFR prices. The growth rate of tuna exports to this market block is slowing down, at 10% in March 2022, with export value increasing by 14 million USD. The total export value to this market in the first three months of the year reached nearly $38 million, up 33% over the same period in 2021.
CPTPP
In contrast to the EU, tuna exports to the market bloc participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) tend to accelerate. Export value to the CPTPP market in March 2022 increased by 49%, reaching nearly 14 million USD. Accumulated in the first 3 months of the year, the export value reached 30.4 million USD, up 40% over the same period. The export value to Canada reached 14 million USD, up 70%; to Mexico reached 4.3 million USD, up 79%; to Chile reached 2.4 million USD, up 71%. However, exports to Japan continued to decline by 20% y-o-y, reaching 6 million USD.
In addition to the above main export markets, the value of tuna exports to other potential markets such as the UAE, the Dominican Republic, and Panama also grew well over the same period last year.
Tuna exports are expected to continue to grow in the coming months. However, exports are facing a shortage of raw materials, high prices of raw tuna, increased sea freight... Therefore, businesses are still heavily affected despite the higher y-o-y growth. All in all, this recovery is just the beginning.
Compiled by Minh Trang
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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