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.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
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
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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