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
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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