Vietnam's frozen tuna meat/loin exports to the US down 60%

(seafood.vasep.com.vn) According to statistics of the US Department of Agriculture, imports of frozen tuna meat/loin (HS code 03048700) into this market in the first 5 months of 2023 were still lower than the same period of the same period, reaching more than 13 thousand tons, worth 170 million USD, down 38% in volume and 42% in value.

Currently, more than 20 countries are exporting this group of products to the US market. In which, Indonesia, Vietnam and Thailand are the three largest tuna suppliers, accounting for 76% of the total value of frozen tuna meat/loin import to the US.

In the first 5 months of 2023, the average import price of frozen tuna meat/loin into the US was US$12,756/ton, down 7% compared to the same period last year. Among the suppliers, Vietnam had the lowest export price at US$11,122/ton, down 16% over the same period. Despite the competitive pricing, Vietnamese enterprises were unable to increase their market share in the US, as their exports decreased by 60% in volume compared to the same period in 2022.

Chú thích ảnh

Vietnam's frozen tuna meat/loin exports to the US down 60%

Along with Vietnam, Indonesia, Thailand and the Philippines are also adjusting export prices to the US market, down 6%, 3% and 11% respectively. However, only Thailand can increase exports to this market over the same period, up 8% in volume, Indonesia and the Philippines also saw declines of 19% and 48%.

Economic instability has caused food prices in the US to rise. American people, especially the low-income class, had to change their diets and food purchase channels. There has been a trend that many consumers consider choosing chicken, beef or pork instead of seafood. More and more people are choosing to buy home-cooked food to save money, And this is affecting US tuna imports in the first period of 2023.

Average IMPORT price of frozen tuna meat/loin into the US, January-May 2023 (USD/ton)

 

Jan

Feb

Mar

Apr

May

Average price

13,597

12,680

12,893

12,300

12,215

Vietnam

11,791

11,803

10,625

10,902

10,454

Indonesia

13,972

11,778

12,659

11,903

12,030

Thailand

11,640

11,575

12,879

12,139

11,148

Philippines

16,836

17,705

17,926

15,284

16,000

Compiled by Thuy Linh 


Related news

SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

  • Vinh Hoan
  • Detail-Right-Top