As a country surrounded by the Arctic, Atlantic and Pacific, the Canadian fishing industry is very developed. Canada exports over 75% of seafood products to 80 countries around the world. Although being a net seafood exporter, yet Canadian fisheries still cannot meet the domestic demand, the country still has to increase the import of seafood from other countries, especially tuna.
Specifically, each year the Canadian fisheries harvested more than 3,800 tons of Pacific albacore tuna, but not enough to meet domestic demand. Therefore, the country still has to import tuna from other countries in the world. By the end of 2018, Canada is currently the 12th largest importer of tuna in the world and the sixth largest tuna importer of Vietnam.
Tuna is one of the staple foods in many Canadian families, especially canned tuna. In the past 10 years, Canada imported a lot of processed and canned tuna. The proportion of imports of processed and canned tuna into this country accounts for over 80% of the total volume of imports of tuna products in the past 10 years.
To meet the demand of domestic consumption and tuna production, Canada is importing tuna from over 39 countries in the world, in which ASEAN countries account for more than 79% of the total volume of imports of this country.
Vietnam currently accounts for 10% market share in the Canadian tuna market, while Thailand accounts for 62% and the Philippines accounts for 6%. Notably, Canada has tended to reduce tuna imports from Thailand recently while increasing imports from other suppliers, including Vietnam.
In addition, as a member country participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Comprehensive Trans-Pacific Partnership (CPTPP) Agreement, Canada is increasingly interested in tuna supply from Vietnam.
Specifically, tuna export value of Vietnam has tended to grow continuously from June 2018 until now. In the first 5 months of this year, total tuna export value of Vietnam to Canada reached US$9.8 million, an increase of 93% compared to the same period in 2018. Especially, compared to the same period in 2018, export of processed tuna Vietnam to Canada increased 245%.
Under the commitments in the CPTPP, Canada will abolish the 7% tariff on canned tuna products to 0% as soon as the agreement comes into effect. Therefore, the approval of Vietnam and Canada for CPTPP will be a good opportunity for Vietnamese enterprises to boost export of canned processed tuna to this market.
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IMPORT TAX FOR PROCESSED/CANNED TUNA HS CODE 16041490 IMPORTED INTO CANADA |
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Suppliers |
MFN tax |
Preferential tax |
|
Thailand |
7% |
|
|
Vietnam |
7% |
0% ( According to CPTPP) |
|
Philippines |
7% |
3,5% (According to GSP) |
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Ecuador |
7% |
|
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Indonesia |
7% |
|
|
Taiwan |
7% |
|
|
USA |
7% |
0% (According to NAFTA) |
|
Italy |
7% |
0% (According to FTA EU – Canada) |
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's crab export value in March 2024 reached more than 18 million USD, an increase of 66% over the same period last year. Cumulatively, in the first 3 months of the year, export turnover reached more than 52 million USD, up 75% over the same period.
Vietnam's pangasius exports to Brazil reached nearly USD 28 million in the first quarter of 2024, surging by 44% compared to the same period in 2023.
(vasep.com.vn) According to Vinh Long Statistics Department, the whole province currently has 2,119 hectares of aquaculture area, an increase of 1.03% (equivalent to an increase of 21.62 hectares) over the same period last year; Of which the industrial pangasius farming area is 370.8 hectares, an increase of 0.12% or an increase of 0.42 hectares.
(seafood.vasep.com.vn) 2023 was an unsuccessful year not only for Vietnamese but also for Thailand tuna exporters in the Middle East market. Thailand's tuna exports to this market decreased by 21% in value and 27% in volume compared to 2022. Therefore, the Middle East dropped to second position among Thailand's export markets after the US, accounting for 22% of total export turnover in 2023.
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(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.
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