According to the statistics of Vietnam Customs, Vietnam tuna export to Russia, from 2013 to 2015, Vietnam's tuna export to Russia grew continuously, but at a low level. But since FTA Vietnam - EAEU comes into effect, Vietnam's tuna export has grown strongly in the period of 2015 - 2017. Export value increased from 3.2 million USD to over 10.2 million USD. However, in 2018, Vietnam's tuna export to Russia tends to decrease.
Currently Russia imports mainly fresh, frozen and dried tuna of Vietnam, especially frozen tuna fillets (tuna cut pieces of saku, frozen yellowfin tuna, steak). This is a product that, according to the commitment in VCUFTA, countries in the EAEU will erase the immediate and rapid tariff reductions for Vietnam from 10% to 0% as soon as the agreement comes into effect. With this advantage, Vietnamese enterprises are "mastering" the playground in the market segment of frozen tuna fillets.
As for canned processed tuna products, Vietnam's products so far have not really penetrated into this market, while being high demand products in Russia. Because tuna is being located in the high-end and middle-class segments, it is in fact a premium product. The reason is that 100% of tuna products are imported from abroad. In addition, price is directly proportional to product quality. Therefore, it is difficult to find fresh tuna at Russian goods or very high price of fresh tuna. Russians also like to buy canned tuna and use it to prepare dishes than fresh tuna. Besides, tuna is one of the few species that does not lose its useful properties when canned, and is a very low-fat product so it is considered a diet product favored by Russians.
With canned tuna products, Vietnam's canned tuna products HS160414 Export code to EAEU will be reduced from 15% to 13.6% as soon as the agreement comes into effect, and then reduced. gradually 1.4% over the following years and about 0% by 2025. With this roadmap, Vietnam's closed canned tuna products are more advantageous than other countries.
If enterprises want to promote export of tuna to the Russian market, they must ensure the quality of goods, always improve packaging, design, change the language to make customers in the market. This field can capture complete information about the product.
(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.
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