Specifically, after continuously growing in the first 9 months of 2022, Vietnam's tuna exports to the US decreased continuously in the last quarter of the year. Export value in this quarter decreased by 27%, (worth nearly 82 million USD). However, this number is still 21% higher than the same period in 2019, the time before the pandemic. And cumulatively in 2022, the value of tuna exports to the US reached nearly 487 million USD (up 44% compared to 2021). Therefore, the US is the largest tuna import market of Vietnam (accounting for nearly 44%).
Compared to 2021, the proportion of Vietnam's exports of fresh, frozen and dried tuna products to the US increased from 58% to 72%. In which, mainly frozen tuna meat/loin (up 73% over the same period, reaching nearly 350 million USD). Frozen tuna meat/loin products tended to increase continuously in the first 9 months of the year, but then decreased in the last 3 months of the year. One of the reasons for this decline is due to a decrease in demand, which has led to an increase in tuna inventories in the US market.
The average export price of frozen tuna meat/loin in Vietnam in the last quarter of 2022 also decreased by 12% compared to the previous quarter and fluctuated at USD 12.2/kg.
In addition, canned tuna exports to the US also decreased. The price of canned tuna increased due to the high price of transportation, vegetable oil, and steel. This has led the US to reduce imports of canned tuna (down 8%) and tends to increase imports of frozen steamed tuna (up 13%).
The average export price of Vietnam's frozen steamed tuna loin to the US in the last quarter of the year still fluctuated at US$6.4/kg and showed no sign of decreasing.
Among 74 enterprises participating in exporting tuna to the US market, there are top 3 companies with the largest export value, accounting for 33% of the total export value, which are: Hai Long Nha Trang Seafood Co., Ltd. Highland Dragon Co., Ltd. and Mariso Vietnam Co., Ltd
It is forecasted that tuna exports to the US in the first quarter of 2023 will tend to decrease due to reduced demand and high inventories.
Compiled by Thu Hang
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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