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) In the first quarter of this year, Vietnam's shrimp exports reached over 686 million USD, an increase of 14% over the same period in 2023.
Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
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