UP 39.7% IN VIETNAM EXPORTS OF CANNED/PROCESSED TUNA

22 May UP 39.7% IN VIETNAM EXPORTS OF CANNED/PROCESSED TUNA

In the first quarter of 2017, Vietnam’s tuna exports totaled US$121 million, up 23% over the same period in 2016. Exports continued to show the recovery thanks to a rise in shipments to major importing markets such as the U.S and the EU.

Output

In the first three months of 2017, tuna production in the three key provinces of the country estimated at 5,846 MT. Currently, the price of ocean tuna purchased at the port ranged from VND 93,000 to VND110,000 per kg. In Phu Yen province, tuna output hit at 1,500 MT, down 2.7%; that in Binh Dinh province was 3,446 MT, an increase of 75% (from 1,970 MT); and that in Khanh Hoa province reached 900 MT, down 8% over the same period last year.

Exports

Vietnam’s tuna exports to other countries in the world increased over the same period in 2016. Of that, shipments of canned/processed tuna went up 39.7% from a year before.

Among Vietnam’s tuna products for exports, sales of frozen tuna loins/fillets (HS code 0304) still made up the largest proportion of 47% out of Vietnam’s total tuna exports in QI/2017 with the value of US$57 million, up 12.5%; followed by those of canned tuna accounted with the share of 30.4%, worth by US$37 million, up 53.2% year on year.

In the period, Vietnam’s tuna exports valued at US$121 million, up 23% over QI/2016. Currently, products of Vietnam tuna came to 79 countries in the world, more than the same period last year.

Top 8 major importing markets of Vietnam tuna, including the U.S, the EU, Israel, ASEAN, Japan, Canada, China and Mexico, accounted for 88% of total tuna export value in Jan-Mar 2017. Israel posted an impressive growth of 172.9%. With the three- digit growth rate, Israel overtook ASEAN and Japan to stay as the third rank.

In this quarter, Vietnam’s tuna exports to mainstream markets such as the U.S, the EU and Japan have recovered. Meanwhile, shipments to ASEAN witnessed the decrease.

The U.S

In the first three months of 2017, the U.S remained as the biggest buyer of Vietnam tuna. However, after the decline in January 2017, Vietnam’s tuna exports to the market rebounded in Feb-Mar 2017. The total value of tuna exports to the U.S in QI/2017 reached over US$44.575 million, up 22.5% over the same period last year.

Exports of Vietnam’s tuna products to the U.S in the first three months of 2017 all increased over the same period last year. Of that, sales of frozen tuna loins/fillets still picked up the main share of 61% in Vietnam’s total tuna exports to this market.

The EU

The EU retained as the second largest tuna importer of Vietnam. In the first three months of the year, Vietnam’s tuna exports showed the signs of recovery with the value of US$27.6 million, up 14% over the same period last year.

In this quarter, Vietnam still mainly exported canned tuna and frozen tuna loins/fillets to this market, accounting for 37% and 36.8%, respectively. Exports of Vietnam’s fresh/live/frozen/dried tuna continued the rise. The EU has a tendency to increase imports of Vietnam’s canned tuna, decline imports of other processed tuna, which is contrary to last year’s trend. In particular, Vietnam’s exports of fresh/live/frozen/dried tuna and canned tuna climbed up 16.4% and 67.5%, respectively. Meanwhile, those of other processed tuna declined by 68%.

The three largest single importing markets in the EU had changed. Germany, Italy and the Netherlands were the three largest importing markets out of the bloc in the period, making up 11.8% in Vietnam’s total tuna export value.

Of that, Vietnam’s tuna exports to Germany and the Netherlands continued the rise in the first three months of this year.

Japan

Vietnam’s tuna exports to Japan in the first quarter of 2017 rebounded with the value of US$4.9 million, up 31% over the same period last year.

Tuna exports to Japan were on the upward trend. Of that, shipments of other processed tuna and frozen tuna loins/fillets accounted for the highest proportion of 40.3% and 40.1%, respectively in Vietnam’s total tuna exports to Japan. Remarkably in this quarter, exports of fresh/live/frozen/dried tuna to Japan recorded a sharp year-on-year increase of 101.5%.

ASEAN

Vietnam’s tuna exports to ASEAN in the first three months of 2017 witnessed the year-on-year decline of 17.4% to eye US$8.5 million.

Exports of fresh/live/frozen/dried tuna and other processed tuna of Vietnam to ASEAN decreased compared to the same period last year. Meanwhile, those of canned tuna and frozen tuna loins/fillets of Vietnam increased.

In the next 3 months, Vietnam’s tuna exports forecasted to increase by 20% to touch US$151 million.