Tuna exports to Spain increased

(vasep.com.vn) Through 15th February 2015, as the demand for frozen tuna loins for process in EU grew high, Vietnam's tuna exports to this market reached US$ 15.7 million, up 11.8% year on year.

Exports of canned tuna, the main product that Vietnam exported to this market, increased 84% year on year. Tuna live / fresh / frozen / dried (code 03)  saw strongest growth at 7.750% from the same period in 2014.

Among EU nations, Germany, Spain and Italy were largest import markets of  Vietnam tuna. While imports of Germany and Spain rose, those of Italy reduced. Vietnam's tuna exports to Spain increased most of this period and therefore, Spain replaced Netherlands in the top 3 largest importing markets of  tuna from Vietnam.

In EU, Germany was the biggest market for Vietnam's tuna.  As of 15th February 2015, Vietnam earned US$ 5.6 million from tuna sales  to this market, up 63.7% year on year. Requiring non-FAD tuna, Germany importers have eyed on suppliers from Vietnam.

67% of canned tuna of the EU are from Spain. In order to have sufficient raw material, imports are needed and yet, Spain is currently the largest market for tuna from Vietnam. Until early February 2015, Vietnam earned US$ 2.6 million from tuna exports to Spain. This reports a big increase of 125%.  

Statistics of the International Trade Centre (ITC) revealed that tuna imports of EU countries in 2014 decreased comparing to 2013. Spain was the biggest tuna importing market. Tuna imports of EU  in 2014 originated from 89 countries, valued at US$ 3.4 billion, down 33.7%. Spain, Thailand and Ecuador were top tuna exporters to EU while Vietnam stayed at the 22nd  place. 

As marine capture was not sufficient for process, EU processors depend on seafood imports. Imports made up 63% to 65% of total seafood in EU, to some species, the percentage can be up to 90%.  Spain, France, Italy and Portugal, major canned tuna producers in the EU, are increasing imports of frozen tuna loins for process. The industry provides 15,000 jobs. While France is in need of quota increase to 25,000 MT from the current quota of 22,000 MT, Italy needs to import 30,000 MT of tuna.

Being tax exempted, Ecuador is the largest supplier of semi-processed tuna loins in tuna processing plants in Spain and Italy. The euro was at 11-year low but skipjack price plummeted to US$ 1,000/MT. If the euro continues to depreciate, tuna consumption in the EU will decrease, causing canned tuna imports to decline.

Vietnam tuna exports in 2015, will benefit from FTA to be signed with the EU. Accordingly, 90% of goods (including seafood products) from Vietnam  to the EU fisheries will be tax exempted.  




Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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