Econ
Vietnam’s tuna exports revenue up slightly in 2016
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s tuna exports increased slightly in the first nine months of the year to reach more than 266 million USD.
VASEP predicts the tuna export value will reach 123 million USD in the third quarter, up five percent against the same period, thanks to increasing tuna consumption in the United States and the European Union.
Total earnings in the first eight months were 309.8 million USD, a 2.1 percent rise from last year, it said. Except in February the value rose every single month. According to customs, fresh and frozen tuna accounted for 58.3 percent of the exports and the ratio of processed tuna fell to 41.7 percent from 45.6 percent last year.
The US, EU, ASEAN, China, Israel, Japan, Canada, and Mexico were the largest markets, accounting for 88.2 percent of the total exports. Shipments to China increased by 68.5 percent year-on-year. It was followed by ASEAN with a 26.7 percent rise and Israel with 18 percent.
The majority of the exports were fresh and frozen tuna, but compared to the same period last year, exports of these categories fell by 9.6 percent, while exports of processed tuna products went up by nearly 12 percent.
The exports went to 87 markets, with the US being the largest buyer, followed by the EU, ASEAN, and Japan, the association said. Tuna exports to the US were worth 111.6 million USD, a year-on-year increase of 0.5 percent.
Exports of fresh and frozen tuna accounted for more than 76.8 million USD of total exports to the US, up nearly 11 percent over the same period last year, while exports of processed tuna (code HS 16) decreased by over 16 percent.
Exports to ASEAN member countries increased by 24.9 percent from the same period last year, but exports to the EU and Japan were down by 8.2 percent and 10.6 percent. In the case of Japan, while fresh and frozen tuna shipments were down by 26.5 percent, exports of processed tuna enjoyed good growth of 10 percent.
The association forecasts that tuna exports to the US, ASEAN countries and China will continue to increase. It suggested local firms should focus more on improving their steaming, drying and canning technologies to enhance exports of processed products.
Among the major importers, Japan has seen the deepest decline with a decrease of nearly 34 percent in the second quarter this year. According to Le Hang, Vice Director of the VASEP.Pro Centre, the main reason leading to the decrease of tuna exports to Japan is the high levy of 6.4-7.2 percent imposed on Vietnam’s tuna.
