From 2018 to 2022, in the top 6 import markets, only Australia has continuously increased seafood import turnover from Vietnam. From 197 million USD in 2018 seafood exports to Australia increased by 85% to 365 million USD in 2022. The proportion of the Australian market therefore also increased from 2.2% to 3.3% of Vietnam's total seafood exports.
The opening of the Australian market together with tariff incentives from the CPTPP free trade agreement has brought about an opportunity to increase Vietnam's seafood exports to Australia in recent years.
Breaking through and accounting for the largest proportion of products exported to Australia after 4 years is vannamei shrimp. In 2022, the export of this product to Australia reached 259.5 million USD, up 171% compared to 112 million USD in 2018, before the CPTPP agreement took effect.
Shrimp revenue accounted for 71% of Vietnam's seafood export value to Australia in 2022, compared to 49% in 2018.In contrast, pangasius exports to Australia decreased from 24% to 10%. From 2018 - 2022, Vietnam's pangasius exports to Australia decreased by 18%, from $47 million to $38 million.
Among the top 3 seafood products exported to Australia, barramundi accounts for 6% of export sales with a value of nearly 21 million USD in 2022. Vietnam's barramundi exports are mainly farmed products of Australis company in Vietnam.
Vietnam is holding the No. 1 position in the Australian seafood market, accounting for 23% of Austria's seafood imports in 2022. This proportion is much higher than 13% of 5 years ago, showing a strong breakthrough of Vietnam's seafood products in Australia, thanks to the good trade cooperation relationship and FTA agreements with Australia, including AANZFTA, CPTPP and RCEP.
Especially, after the CPTPP agreement came to effect, seafood products such as shrimp, pangasius and marine products imported from Vietnam into Australia has enjoyed a tax rate of 0%.
In the first quarter of 2023, Vietnam's seafood exports to Australia reached 63 million USD, down 32% over the same period last year. In which, whiteleg shrimp exports decreased by 34%, pangasius exports decreased by 26%, seabass decreased by 34%...
In the context of 2023, the Australian market is also not immune to the impact of the food inflation spiral, causing consumption to be affected and reduced.
Hopefully, after the Australian diplomatic delegation’s visit to Vietnam, seafood exports from Vietnam to Australia will rise to a new high, whereby not only shrimp but also pangasius and seafood to this market will grow stronger.
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.
Regulations on the protection and sustainable development of aquatic resources, Việt Nam's legitimate rights at sea in accordance with international law and the achievements that the country has carved out to remove the European Union’s “yellow card” will be brought closer to local people.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in January 2024, Vietnamese pangasius exports to Germany decreased by 30% compared to last year and reached only nearly 2 million USD.
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