Tuna exports rose 12% in 2016

In 2016, Vietnam’s exports of tuna reached nearly US$510 million, up 12% compared to 2015. The rise in tuna sales was thanks to higher demand for tuna from main markets.

Products

In 2016, the export value of all tuna products from Vietnam reported the increase over 2015. Vietnam enterprises tend to boost exports of frozen tuna loin/ fillets (HS0304) and other processed tuna (HS16) including smoked tuna, packed tuna in oil, frozen cooked tuna flake...)

Importing markets

Top 8 importing markets of Vietnam including the U.S., EU, ASEAN, Israel, China, Japan, Canada and Mexico accounted for 87% of total tuna export value of Vietnam in 2016. By the end of 2016, Vietnam's tuna exports to the main markets have good growth, excluding the drop in Japan and Mexico.

Notably, in 2016, tuna exports to China reported good growth. In 2015, China was a small market of Vietnam's tuna. However, in 2016, China has become the 5th largest importing market of Vietnam tuna.

Tuna exports to Japan decreased, caused by unimproved quality of post-harvest tuna. Therefore, Japan slipped to the 6th position, accounting for 4%

The U.S.

The U.S. continued to be the largest importer of frozen tuna and canned tuna from Vietnam, accounting for 39%. In 2016, Vietnam exported more than US$200 million to this market, up 5.3% compared to 2015.

In 2016, the U.S. increased imports of fresh/chilled/frozen/dried tuna from Vietnam. The total export value of these items to the market in 2016 reached US$124 million, up 9.9% compared to 2015. Sales of frozen tuna fillet/loin (HS0304) to the U.S. rose by 18.5% compared to 2015 with the value of US$120.6 million, making up 47%. This is the main tuna product of Vietnam exported to the U.S. while sales of fresh/chilled/frozen/dried tuna to the market saw the decline.

EU

The EU continued to be the 2nd largest tuna importer of Vietnam in 2016, accounting for 22%. In 2016, Vietnam exported US$115 million of tuna products to the EU, an increase of 18.4%.

Tuna loin/fillet was the most exported product to the EU, accounting for 35% of the total export value of Vietnam tuna to this market, followed by canned tuna with the proportion of 31%; fresh/frozen and dried tuna (excluding code HS0304) accounted for 19% and other processed tuna with 16%.

3 leading importers of Vietnam tuna in the EU block were Italy, Germany and Belgium, accounting for 59% of total tuna exports to the EU and 13% of total tuna export value of Vietnam.

Japan

In 2016, Vietnam's tuna exports to Japan reached US$19 million, down 5.2%. Tuna loin/fillet was the main tuna products of Vietnam exported to Japan, accounting for 42.7% of total export value of Vietnam tuna to the market, followed by other processed tuna with 34%, fresh/frozen and dried tuna (except for HS0304) made up 15.6%.

China

The total sales of Vietnam tuna to China in 2016 hit US$21 million, up 67% compared to 2015.

Imports of fresh, chilled and frozen tuna into China from Vietnam increased. The sales of this product exported to China in Jan-Oct 2016 reached US$19.5 million, up 96% compared to the same period 2015. China raised importing canned tuna from Vietnam. The total export value of canned tuna from Vietnam to this market in 2016 was US$1.5 million, up 2,861% over 2015.

It is forecasted that Vietnam’s tuna exports to the U.S. and the EU in the early 2017 will reduce due to higher global tuna price. Exports to Japan will remain low due to high tax rate. Therefore, in the first quarter of 2017, Vietnam tuna exports is expected to decline.

Written by Nguyen Ha

Compiled by Kim Thu