Vietnam tuna sales to ASEAN rose 24.5%

(seafood.vasep.com.vn) In the first half of 2016, Vietnam tuna exports hit US$224.7 million, equal to that of the same period of 2015. The figure in the period saw no growth due to low demand from main markets and higher global tuna price.

According to Ministry of Agriculture and Rural Development (MARD), fishermen found some obstacles due to decline in raw tuna price and tuna output. Besides, the model of production chain in tuna production showed no significant efficiency. Tuna yield of Vietnam in Jan-Jun 2016 estimated to reach 11,152 MT. In which output of Phu Yen province was 3,500 MT, down 7.5% year on year; Binh Dinh of 4,820 MT (-5%); Khanh Hoa of 2,382 MT (+13%). The price of raw tuna was in the range of VND85,000 – 88,000/kg; VND10,000 – 12,000/kg lower than that of the previous month.

According to Vietnam Customs, through Jun 2016, among exported tuna products; tuna fillet/loin still accounted for the largest proportion of 51.5%. It was followed by canned tuna with the proportion of 27.7%. in the period, exports of tuna fillet/loin surged by 18.2% year on year while sales of canned tuna downed 18.4%.

In the first 6 months of 2016, Vietnam exported tuna to 87 markets. 8 largest importing markets included the US, EU, ASEAN, China, Japan, Israel, Mexico and Canada, accounting for more than 89% of the total tuna export value. In QII/2016, exports to almost major markets reported the positive growth.

The US: In Jan-Jun 2016, Vietnam's tuna exports to the market reached US$92,8 million, down 0.2% from the same period last year. The US continued to raise imports of frozen tuna fillet/loins from Vietnam with import value of US$61.8 million, up 22.8% over the same period last year. Meanwhile, imports of other tuna products  from Vietnam into the US declined.

EU: Vietnam's tuna sales to the EU in the first 6 months of the year hit US$50.8 million, down 6.6% compared to the same period in 2015. The EU continued to raise imports of fresh/live/frozen tuna from Vietnam with value of US$29.3 million, up 25.7% compared to the same period last year. While imports of processed and canned tuna from Vietnam into the EU decreased by 30.8% to reach US$21.5 million.

Italy, Germany and Belgium were 3 largest markets of Vietnam tuna in the EU bloc. In the first 6 months of this year, while Germany declined tuna imports from Vietnam; Italy and Belgium increased imports. Notably, Vietnam's tuna exports to Italy reported the high growth, particularly 3-digit growth in some months.

Japan: Vietnam's tuna shipment to Japan in Jan-Jun 2016 touched US$8.7 million, down 10.5% year on year. Exports of processed and canned tuna of Vietnam to Japan continued to increase by 27.9% over the same period last year in which exports of other processed tuna surged 37.6%. Exports of fresh/live/frozen tuna products to the market still downed 30.1%.

ASEAN: While Vietnam's tuna exports to major markets like the US, the EU and Japan declined, ASEAN has emerged as the most promising importing markets. The total export value of Vietnam tuna to the market in the first 6 months increased by 24.5% to reach US$21 million.

In the first half of this year, ASEAN increased imports of almost tuna products from Vietnam (excluding canned tuna). Specifically, Vietnam’s exports of live/fresh/frozen tuna to the market rose by 69.2%; tuna loin and fillet increased by 30% and other processed tuna increased by 19.7%.

Predictably, tuna consumption in the US and the EU will be better. Besides, Vietnam’s exports to the emerging markets will continue to rise. Tuna exports in QIII/2016 is expected to increase by 5% to reach US$123 million.

Written by Nguyen Ha

Compiled by Kim Thu


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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