VN – the 2nd largest supplier of frozen tuna loin to US

(seafood.vasep.com.vn) The US claimed as the largest importer of Vietnam tuna for both frozen and processed items.

In QIII/2016, tuna exports to the U.S. reported a slight recovery, with the value of US$52 million, up 7% over the same period last year. In Jan-Sep 2016, Vietnam tuna exports to this market amounted to US$144.5 million, a year-on-year rise of 2.2% after the continuous slump in the first 5 months of this year.

Frozen tuna loins picked up the largest share of total tuna imports into the U.S. with the value from Vietnam of US$92 million, accounting for 64%. However, the shipments from Vietnam increased to over US$10 million from April to July 2016, then dropped to around US$9 million per month in August and September 2016.

Imports of canned tuna into the country took up the second biggest proportion of 31%, with the value of US$45 million. Of that, imports of canned tuna showed the highest increases in August 2016 with nearly US$7 million.

According to the ITC, in the first 8 months of 2016, the U.S. imported 163 thousand MT of tuna, worth by US$982 million, down 5.4% in volume and 3.5% in value over the same period last year. The 2 most imported items were canned/processed skipjack and frozen skipjack fillets/loins (accounting for 75% and 12% in volume and 55% and 25% in value, respectively).

Imports of frozen skipjack fillets/loins into the market hit 19.3 thousand MT, up 11%, with the value of US$220 million, up 7% year on year.

Vietnam stayed as the 2nd largest supplier of frozen tuna loins to the U.S. Shipments to this market continued to increase over months, from 278 MT in January 2016 to 750 MT in August 2016 and reached 4.36 thousand MT in Jan-Aug 2016, while Indonesia was the largest supplier with 4.72 thousand MT. The Philippines was the 3rd largest supplier with 2.5 thousand MT.

In Jan-Aug 2016, the average import price of frozen tuna loins from Vietnam ranged from US$10 - 11/kg, US$1 lower than compared to the average price from Indonesia and the Philippines. This item imported into the U.S. was subject to the tax of 0% for all suppliers

However, canned and processed tuna from Vietnam had to face the duty of 10.09%, higher than the duty of 9.23% from Thailand. In the first 8 months of 2016, imports of canned and processed tuna into the U.S. reduced by nearly 10% in volume (123 thousand MT) and 11% in value (US$539 million). In this segment, Vietnam was the 2nd largest supplier (behind Thailand and followed by Ecuador). Imports of the item into the U.S. from Thailand accounted for the biggest share with over 11 thousand MT, while those from Vietnam were about 1.3 thousand MT, and from Ecuador with nearly 1,000 MT.

Tuna fillets/loins from Vietnam has to compete with that from Indonesia and the Philippines. However, in recent years, exports of the two countries are slowing down with either negative growth or slower growth than Vietnam. The average export price of tuna loins/fillets from Vietnam was also more competitive (US$10,276/MT in 2015) than from Indonesia (US$11,620/MT) and the Philippines (US$12,775/MT).

With the tax rate of 0%, Vietnam tuna exports expected to be stable and overtake Indonesia in the next few years.

Written by Le Hang

Compiled by Kim Thu


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

  • Vinh Hoan
  • Detail-Right-Top