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Viet Nam Recovers Tuna Exports to US

27 October 2014

VIET NAM - Viet Nam's tuna exports to the US have recovered as export value was $43 million, up 12 per cent year on year. Yearly accumulated tuna export value reached over $128 million, down 13 per cent, because the increase in Q3 was not sufficient to make up for the decline at the beginning of the year.

In the first nine months of 2014, tuna exporters and processors continued facing with the lack of materials. Tuna output in nine months was 13 thousand MT, down three per cent year on year.

Demand for tuna decreased while prices of tuna remained lower than last year. The value of Viet Nam's tuna exports in the first nine months of the year therefore, decreased rapidly, to $363 million, down 12.5 per cent year on year.

During the period, Viet Nam's tuna products were exported to 97 markets, compared with the same period last year when they were sent to 103 markets. Tuna exports of 10 major markets in the first three quarters of 2014 were accounted for more than 85 per cent of total exports, down year on year. Viet Nam's tuna exports to major market fell compared to the same period in 2013.

The US: The US, consuming all kinds of products tuna, fresh, live, frozen and canned, continued to be the largest tuna importing market for Viet Nam.

In nine months of 2014, canned tuna was the most exported products, followed by frozen tuna loins (HS0304). Exports of canned tuna and frozen tuna loins (HS0304) had increasing trends, and reached approximately $49 million, up nearly 19 per cent year on year.

This increased the proportion of these products in the export structure from 28 per cent in 2013 to 38% this year. Meanwhile, exports of processed/canned/fresh/live or frozen tunas (except for code HS0304) downed 14.6 per cent year on year.

EU: In contrast to the situation in US market, Viet Nam's tuna exports to EU countries declined over the same period. Viet Nam's tuna exports to the EU in Q3 were only more than $31 million, down more than 16.8 per cent year on year. This decline pulled kept the yearly accumulated value of Vietnam's tuna exports to EU at just over $100.5 million, down more than five per cent year on year.

Among tuna products to the EU market, frozen tuna loins were the most exported one, accounted for nearly 60 per cent. Frozen tuna loins and other processed tuna products had positive growth rates, at four per cent and 21 per cent, respectively.

Canned tuna exports,the second most exported product, increasingly reduced, down more than 17 per cent year on year. Exports of fresh tuna, live tunaand frozen tuna downed nearly nine per cent over the same period, despite the recent recovery.

In the EU, Germany, Italy and the Netherlands continued largest import markets for Viet Nam tuna in Q3/2014. However,exports tended to be down year on year.

Japan: After the recovery in Q2, Viet Nam's tuna exports to Japan downed year on year in Q3. Japan continued to be ranked fourth, after ASEAN in the top 10 major markets for Viet Nam’s tuna. Total export value in this was $5 million, down 1.7 per cent year on year. Accumulated export value reached nearly $18.8 million, down 49 per cent year on year.

By the end of September, all of Viet Nam’s tuna export items to Japan declined, except for canned tuna. In particular, frozen tuna loins exports were just over $8 million, down more than eight per cent year on year. Exports of fresh tuna, live tuna and frozen tuna experienced the biggest drop, staying at nearly $5.9 million, down nearly 75 per cent year on year.

It is forecast that production will decrease as tuna fishing season in Viet Nam ended. Until the end of this year, these businesses might have to import raw materials from other countries to meet export demand. Total export value of tuna is predicted to reach $505 million, down four per cent year on year.

With the support with post-harvest activities, fresh tuna exports to Japan will increase slightly. Meanwhile, exports to the US and EU will slowly recover because of bans.

TheFishSite News Desk



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