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) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
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