Among Vietnam's tuna exports to this market, Vietnam's exports volume of tuna meat/loin with HS code 0304 increased, but the growth rate tended to slow down. Canned tuna exports also increased slightly over the same period. Meanwhile, exports of fresh and frozen tuna under HS03 code (except HS code 0304) and other processed tuna with HS code 16 to Vietnam continued to decline.
Germany, Belgium and the Netherlands are the top 3 EU countries in terms of tuna imports from Vietnam in the first half of 2022. While Vietnam's tuna exports to Belgium and the Netherlands continued to maintain a high growth rate in the past 3 months, exports to Germany decreased continuously. This made tuna exports to the German market in the first half of 2022 decreased by 1.8% compared to the same period in 2021.
Europe's euro has just suffered a "major shock" when its exchange rate fell to parity with the dollar for the first time in 20 years. EU countries are concerned about the possibility that Russia can cut off automatic gas supplies to Europe and make the region fall at any time. This will affect the entire economy, including the fishing industry and processed tuna of the EU countries.
According to a report released by the European Union's (EU) data statistics agency Eurostat, consumer prices in the 19 countries that use the euro rose 8.6% in June, while the figure in this region a month ago was recorded at 8.1%. In which, the group of food items increased by 8.9%, showing that inflation is spreading in the euro area. Despite record inflation, the European Central Bank (ECB) did not raise interest rates in Q2/2022. This delay caused the euro to depreciate against the US dollar. The price of tuna products increased due to higher costs of necessary goods, a strong dollar may cause the final tuna products to be imported into the EU from countries outside the bloc such as Vietnam, the Philippines, Ecuador,... more expensive. This has affected Vietnam's tuna exports to EU countries in the past 3 months.
In addition, according to enterprises, usually the first months of the year are a favorable time to increase export orders to EU markets due to the impact of agreements on preferential tariffs under the Free Trade Agreement between Vietnam and EU (EVFTA). However, this year, due to the high price of petrol, it affected the tuna catch of the whole country, causing a decrease in the supply of raw tuna to ensure the rules of origin under the FTA. All these factors are holding back the growth of Vietnam's tuna exports to this market. It is expected that tuna exports to the EU will continue to decelerate in the coming months.
Compiled by My Hanh
(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.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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