Canada - Potential market for Vietnam tuna

(seafood.vasep.com.vn) Canada claimed as the 7th largest tuna importer in the world and was listed in top 8 largest tuna importers from Vietnam. While Vietnam tuna exports to major markets such as the U.S, EU and Japan witnessed a fall in recent months, those to Canada posted a continuous rise. Canada is regarded as a potential market to replace some traditional markets of Vietnam tuna at this time.

According to the statistics of Vietnam Customs, in May-Jul 2016, Vietnam tuna exports to Canada recorded continuous climbs. In July, the shipments to Canada reached US$1.3 million, up 76% compared to July 2015. The figure in Jan-Jul this year estimated at US$5.2 million, up 11% year on year.

However, tuna imports into Canada tended to slow down. According to statistics of the International Trade Centre (ITC), in the first half of this year, the country imported nearly 20 thousand MT of tuna, worth by nearly US$85.6 million, up 1.8% in volume but down 6.6% in value. Vietnam was the 5th largest tuna supplier to this market, behind Thailand, the Philippines, the U.S. and Italy.

Canada mainly imports canned tuna from other countries. However, this year, Canada reduced imports of canned tuna, while increased those of fresh/live/frozen tuna. According to ITC, in the first 6 months of this year, Canada imported more than 18 thousand MT of canned tuna, worth by more than US$71 million, down 0.3% in volume and 6.2% in value. Meanwhile, imports of fresh/live/frozen tuna into Canada reached more than US$1.9 million, up 26.7% year on year.

Vietnam sold fresh/live/frozen tuna to the market with the total value of nearly US$3.9 million in Jan-Jul 2016 in which frozen tuna loins were mainly exported. Frozen tuna loins exported to the market enjoy tax exemption.

However, due to raw material shortage, Vietnam has to compete with other countries in the region such as Thailand, the Philippines and Indonesia.

In the last months of the year, Vietnam tuna exports to Canada forecasted to remain unstable, but increase over the same period last year.

TUNA IMPORTS INTO CANADA, JAN-JUN/2016/2015

Suppliers

Value (Thousand US$)

Volume (kg)

Jan-Jun/2015

Jan-Jun/2016

Variation (%)

Jan-Jun/2015

Jan-Jun/2016

Variation (%)

Thailand

91,650

85,571

-6.6

16,470,282

15,639,623

-5

The Philippines

67,522

61,185

-9.4

808,093

881,102

9

The U.S

4,070

4,613

13.3

433,496

981,559

126.4

Italy

3,276

4,281

30.7

514,526

975,457

89.6

Vietnam

3,596

3,952

9.9

513,352

625,763

21.9

Sri Lanka

4,385

3,703

-15.6

191,108

278,894

45.9

South Korea

2,664

3,528

32.4

117,187

78,005

-33.4

Mexico

468

538

15

48,044

46,394

-3.4

Indonesia

871

520

-40.3

75,883

40,754

-46.3

Others

-86,852

-82,320

-5.2

466,374

437,961

-6.1

Total

91,650

85,571

-6.6

19,638,345

19,985,512

1.8

Written by Nguyen Ha

Compiled by Dieu Thuy


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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