Tuna exports to the US increase again

By Le Thu/Dieu Huong

13:49 | 12/11/2020 Import-Export Follow english.haiquanonline.com.vn on

VCN - After a period of continuous decline, Vietnam's tuna exports to the US have risen again. However, growth is still low. The information was announced by the Vietnam Association of Seafood Exporters and Producers on November 4.

	Tuna exports poised to surge ahead in remaining months of 2020
	Workshop seeks ways to promote tuna exports to EU
	EVFTA "hurrying" tuna exports

Processing tuna for export. Photo: T.H

Specifically, the tuna export value of Vietnam to the US in August and September increased by 5.2% and 1.6%, respectively. Therefore, the total export value of this item in the first nine months of the year to the US was only US$208 million, down 13.8% over the same period in 2019.

By the end of September 2020, Vietnam's exports of fresh, frozen and dried tuna to this market continued to decline, down nearly 39% over the same period in 2019. Meanwhile, tuna exports processing and canning increased by nearly 29%. This growth increased the total export value of processed and canned tuna from Vietnam to the US from 36.8% to 55%.

By the end of September 2020, the group of frozen tuna fillets and tuna meat, code HS0304, remained the main export products of Vietnam to the US market. However, this year the export value of this item is decreasing compared to the same period in 2019.Currently, the proportion of the item has decreased to 44% of the total value of Vietnam's tuna exports to the US market in the first nine months of the 2020.

In contrast, Vietnam's canned tuna exports to the US market are on the rise. Canned tuna products of Vietnam exported to the US market are mainly canned skipjack tuna meat of all kinds. Compared to the previous quarter, the proportion of canned tuna exports of Vietnam is increasing, and now this product group accounts for nearly 36% of the total export value of tuna to this market. Along with canned tuna, other Vietnamese processed tuna products exported to the US market are also increasing.

Currently, because US businesses are rebuilding warehouses that were depleted during the COVID-19 pandemic, US food and raw materials imports also increased sharply. Along with this trend, imports of processed tuna, such as frozen steamed tuna meat - raw materials for canned tuna production, and canned tuna into the US are also increasing year-on-year.

Although there is still growth in canned tuna exports to this market, Vietnam's tuna products face difficulties in competing with similar products from Indonesia and Mexico, due to higher prices. While the prices of canned tuna products from Indonesia and Mexico tend to decrease, the prices of Vietnamese products tend to increase.

According to ITC's statistics, the US imports of processed and canned tuna tended to grow steadily over the first eight months of 2020. In particular, for processed and canned tuna, the US has imported more than 170,000 tons in the first eight months of this year, worth nearly US$835 million, up 25% in volume and 13% in value over the same period in 2019. This is the highest import level for the past 5 years.

Thailand, the largest canned tuna supplier to the US market, has increased exports to the US market in the first eight months of 2020, up 31% year-on-year. Along with Thailand, Vietnam and Indonesia are also increasing exports of canned tuna to this market, with growth rates of 9% and 20%, respectively.

By Le Thu/Dieu Huong

Tags:

tuna export US value

Related News

Import and export turnover across Cao Bang prospers but still exists difficulties

10:25 | 05/04/2023 Import-Export

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.

Việt Nam, US hold 12th political, security, defence dialogue

14:15 | 03/04/2023 Headlines

They shared their determination to maintain cooperation in clearing mines and explosives, decontaminating dioxin, supporting war-affected people in Việt Nam.

Vietnam, US hold 12th Political, Security, Defence Dialogue

20:25 | 01/04/2023 Headlines

The 12th Vietnam-US Political, Security and Defence Dialogue was held in Washington D.C on March 30 under the co-chair of Vietnamese Deputy Minister of Foreign Affairs Ha Kim Ngoc and US Assistant Secretary of State for Political-Military Affairs Jessica Lewis.

Exploiting potential markets to increase coffee export space

11:40 | 01/04/2023 Import-Export

VCN - Vietnam's coffee industry has gradually affirmed its position when exports for the first time exceeded the USD 4 billion mark in the past year. The results of the first two months of 2023 show that coffee exports have many positives, especially in some markets.

Latest News

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

14:01 | 06/04/2023 Import-Export

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.

Mong Cai international border gate sees strong recovery

16:15 | 05/04/2023 Import-Export

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.

Vietnam a potential market for French businesses, investors: experts

16:12 | 05/04/2023 Import-Export

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.

HCM City’s industrial production index down 0.9% in Q1

14:47 | 04/04/2023 Import-Export

Ho Chi Minh City’s Index of Industrial Production (IIP) in the first quarter of 2023 declined by 0.9% compared to the same period last year, the municipal Department of Industry and Trade reported at a press conference on April 3.

More News

Fisheries exports estimated at 1.85 billion USD in Q1

14:45 | 04/04/2023 Import-Export

Fisheries export value was estimated at 1.85 billion USD in the first quarter (Q1) of this year, a fall of 27% compared to the same period last year due to lower consumption and import demand under the impacts of inflation and economic recession, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Quang Ninh aims to attract quality FDI inflows

14:43 | 04/04/2023 Import-Export

The northern coastal province of Quang Ninh has strengthened measures to attract quality foreign direct investment (FDI) inflows, especially from big names in the processing-manufacturing industry.

Exports face many difficulties

13:29 | 04/04/2023 Import-Export

VCN - In the first months of 2023, the absence of export orders plus the downward trend in commodity prices have slowed down trade activities.

Manufacturing enterprises increase their competitiveness thanks to digital transformation

13:28 | 04/04/2023 Import-Export

VCN - Overcoming difficulties in 2023 requires manufacturing enterprises to self-improve and innovate. Digital technology is one of the effective solutions to help manufacturing businesses grow and compete.

32nd Việt Nam Expo promises to boost business linkages

14:19 | 03/04/2023 Import-Export

The 32nd Việt Nam International Exhibition (Vietnam Expo) will take place in Hà Nội from April 5-8 with the participation of more than 500 domestic and foreign enterprieses, the event’s organisers have announced.

Prevention of price risks before news that Indonesia increases rice imports in reserve

09:52 | 03/04/2023 Import-Export

VCN - In response to demand signals from key markets such as Indonesia and the Philippines, the Import-Export Department (Ministry of Industry and Trade) suggested that rice exporters actively monitor the market situation and fully assess the opportunities as well as risks to build a trading plan.

Japanese investors highly appreciate Vietnamese property market

17:41 | 02/04/2023 Import-Export

Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.

Seafood enterprises propose to remove obstacles from exporting to the EU

10:34 | 02/04/2023 Import-Export

VCN - Seafood enterprises are facing inadequacies in applying for material certification (S/C) and food safety certificates (H/C), which affects the production and export of seafood to the EU.

Need to effectively use tools to prevent exchange rate risks in import and export field

10:32 | 02/04/2023 Import-Export

VCN - The exchange rate pressure in 2023 is expected to be weaker than last year, especially in the context of tightening monetary policies reaching the final phase. However, fluctuations in the economy and financial markets are still very unpredictable, and exchange rate developments may affect import and export activities.

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read