Since May, tuna exports to Spain have decreased continuously. However, exports to this market showed signs of recovery in the last quarter of the year when it increased by 33% in October and this growth continued in the first half of November with an increase of 112%.
Spain is currently the largest tuna importer in the EU and the second largest tuna import market of Vietnam. In the first 9 months of 2022, Spain's tuna imports increased compared to the same period in 2021, and nearly as before the pandemic. Spanish importers are tending to increase tuna imports from external sources. In the context of high inflation causing consumers to tighten their spending, Spanish producers try to lower production costs by finding cheap supply with preferential tariff.
Vietnam tuna exports to Spain increase at the end of the year
Spain is currently importing mainly frozen tuna meat/loin HS code 0304 and frozen steamed tuna loin HS code 16 from Vietnam, accounting for 55% and 44% respectively. According to the agreement in the Free Trade Agreement between the EU and Vietnam (EVFTA), Vietnam's frozen tuna meat/loin products exported to the EU will have tariffs eliminated in 4 years from 18%. Currently, these products exported to the EU are being taxed at 4.5%. With this tax rate, Vietnam's competitiveness is lower than products enjoying preferential tariffs from Ecuador, Mexico, PNG or Mauritius.
In the processed tuna segment, frozen steamed tuna loin products with HS code 16 are being tax exempt according to the quota of 11,500 tons/year. These products can't compete with cheap Chinese products, or Ecuador's duty free.
One of the reasons why tuna exports to Spain increased at the end of the year was due to a sharp increase in exports of frozen steamed tuna loins with HS code 16. These shipments to Spain will be stored in bonded warehouses and will be cleared as soon as the preferential tariff quotas under EVFTA are restarted in early 2023.
Currently, there are more than 15 enterprises participating in exporting tuna to the Spanish market. Bidifisco, Tuna Vietnam and Nha Trang Bay are the 3 largest tuna exporters in this market, accounting for nearly 84%.
Compiled by Thuy Linh
(seafood.vasep.com.vn) Vinh Hoan Corp is currently the largest exporter of Vietnamese pangasius fillet to the US, with a market share significantly higher than other listed companies.
Ho Chi Minh City, Vietnam – October 14, 2024 – The Vietnam Association of Seafood Exporters and Producers (VASEP) proudly reiterates its commitment to sustainable development and responsible practices within the Vietnamese shrimp industry. With over three decades of experience, Vietnam has become a key player in more than 100 international markets, recognized for our high-quality shrimp products and robust traceability protocols.
(seafood.vasep.com.vn) Vietnam’s fishery exports reached $7.16 billion in the first 9 months of this year, a year-on-year increase of 8.5%, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.
The U.S. Department of Commerce (DOC) has said Vietnamese exporters do not dump pangasius into U.S. market.
With pangasius exports soaring by 9% to reach nearly US$1.3 billion during the initial eight months of the year, Vietnam is likely to achieve the set target of earning US$2 billion from the export of the fish this year, according to the General Department of Vietnam Customs.
(seafood.vasep.com.vn) Besides the main product of frozen Vietnamese pangasius fillets, consumers in many markets around the world also prefer other pangasius products, including frozen butterfly-cut pangasius HS code 03032400.
(seafood.vasep.com.vn) In August 2024, Vietnam's shrimp exports reached 404 million USD, up 20% compared to August 2023. Shrimp exports in August continued to record the highest value since the beginning of the year and recorded the best growth since February this year. In the first 8 months of this year, shrimp export turnover reached more than 2.4 billion USD, up 10% over the same period last year.
(seafood.vasep.com.vn) According to the Binh Dinh Statistics Office, the total aquatic product output in August 2024 is estimated at 28,738.6 tons, up 2.2% (up 614 tons) over the same period. In the first 8 months of 2024, the total aquatic product output is estimated at 201,433.1 tons, up 2.7% (up 5,366.8 tons).
(seafood.vasep.com.vn) Can Tho's seafood export output in the past 9 months is estimated at 118,000 tons with a turnover of over US$ 387 million. Many aquaculture areas of Can Tho have VietGAP standards to meet the requirements for export, increasing the value of aquaculture products in the area.
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
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