Italy favors tuna from Vietnam

(seafood.vasep.com.vn) In June 2016, Vietnam tuna exports to Italy reached more than US$2.9 million, up 69% compared to the same period last year. Thanks to the consecutive growth since earlier this year, exports to the market in the first half of 2016 hit US$12.9 million, up 98.6% year on year. So far, Italy stayed as the largest tuna importer from Vietnam in the EU.

In Jan-Jun 2016, Italy increased imports of fresh and frozen tuna (HS code 03) from Vietnam from the first 6 months last year. According to statistics of Vietnam Customs, as of Jun 2016, shipments of the items from Vietnam to Italy valued nearly US$9.8 million, an increase of 2,221% over the same period last year. In which, Italy increased sharply imports of live/fresh/frozen/dried tuna (HS code 03, except for HS code 0304).

VIETNAM TUNA EXPORTS TO ITALY BY PRODUCTS, JAN-JUN 2016 (US$)

Products

Jan-Jun 2015

Jan-Jun 2016

Variation (%)

Tuna HS code 16 (1)

6,073,098

3,106,400

-48.8

Canned tuna (HS code 16)

278,560

223,520

-19.8

Other processed tuna (HS code 16)

5,794,538

2,882,880

-50.2

Tuna  HS code 03 (2)

421,669

9,789,531

2.221.6

Live/fresh/frozen/dried tuna (HS code 03, except for HS code 0304)

 

8,641,462

 

Tuna HS code 0304 (except for surimi)

421,669

1,148,069

172.3

Total (1+2) 

6,494,767

12,895,931

98.6

This year, low demand for tuna in Europe has affected on tuna imports into Italy. However, due to lower supply of tuna from Ecuador, Italy shifted to increasing imports from Asian countries, including Vietnam. Vietnam has advantages in exports to this market, thanks to the free trade agreement between Vietnam and the EU (EVFTA), which is about to be signed.

According to the statistics of the International Trade Centre (ITC), in the first 4 months of 2016, Vietnam was the leading supplier (outside the EU) of fresh and frozen tuna to Italy. While Vietnam’s exports of the items to Italy reported the good growth of 66%, exports from Thailand, the Philippines and Indonesia to the market showed the falls from the same period last year.

Vietnam was the largest supplier of frozen yellowfin tuna excluding heading and roes (HS code 030342) to Italy, followed by Thailand and the Philippines. In Jan-Apr 2016, imports of the items from Vietnam into Italy increased nearly 77%, while total imports went down by 7.4% compared to the same period last year, imports from Thailand and the Philippines downed.

The items from Vietnam gained good competitiveness in Italian market since the beginning of the year, after the Philippines no longer enjoyed the preferential tariff (GSP), and Thailand were warned of IUU. In spite of the items’ higher price from Vietnam than the Philippines, Italy favors the items from Vietnam thanks to advantages from EVFTA.

Moreover, tuna products from Vietnam are certified as “Dolphin Safety” from EII, which is highly appreciated in the EU. That helps Vietnam exporters to access the EU market easier. In the coming time, Vietnam tuna exports to Italy expected to continue the rise.

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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