This marks the first time in 25 months that the monthly export value of tuna has surpassed $90 million. If this growth continues, Vietnam's tuna exports could reach a total of approximately $1 billion by the end of 2024, reflecting an 18% increase.
Exports of various tuna product groups from Vietnam also saw growth compared to the previous year. Notably, exports of frozen tuna meat/loins under HS code 0304 have experienced rapid growth in the latter months of this year.
In terms of markets, tuna exports to major destinations generally increased in October, except for the EU and South Korea.
The exhaustion of preferential tariff quotas and difficulties in complying with regulations related to combating IUU (Illegal, Unreported, and Unregulated) fishing have hindered tuna exports to the EU in recent months. Exports to the EU fell by 15% in October. However, strong growth in the earlier months of the year has resulted in a total increase of 17% for the first ten months of 2024.
On the other hand, tuna exports to the U.S. market, which slowed in the third quarter, have shown signs of acceleration in the final months of the year. Increased demand for seafood during the holiday season, coupled with the effects of the U.S. presidential election, has boosted the demand for tuna imports. Exports to the U.S. rose by 30% in October.
Alongside the U.S., the Middle Eastern market has also ramped up imports of Vietnamese tuna. Export values to the region have experienced strong growth. Notable increases include exports to Israel (up by 55%), Egypt (up by 70%), and Saudi Arabia (up by 72%) in the first ten months of 2024. Despite the impact of political conflicts in some countries, such as Israel and Iran, the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) has provided a significant boost for tuna exports to the region.
A particularly noteworthy development in October was the recovery of tuna exports to Japan. The export value to Japan increased by nearly 31% compared to the same period last year. Japan’s economic outlook has improved significantly after months of stagnation. Additionally, the strengthening of the Japanese yen since September has boosted demand for seafood imports, including tuna.
(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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