Processed tuna sales to the EU tend to increase
(11/18/2019 12:00:00 AM)
After 9 months of continuous growth,
Vietnam's tuna exports to EU decreased in the last 3 months of 2018.
According to statistics of Vietnam Customs, tuna exports value in the
last 3 months of the year only reached US$40.5 million, down 10.7%
compared to the same period in 2017. However, in 2018 Export value of
tuna rose by 11.5%, reaching US$158 million.
terms of the export structure of tuna products to the EU market, it is
worth noting that export of other processed tuna tends to increase.
Meanwhile, canned tuna products declined. Currently, other processed
tuna products are dominant in the group of processed and canned tuna
products to this market.
top 3 biggest tuna export markets from Vietnam to the EU changed in
2018. With the impressive growth continuously at 3 digits in the past
months, Spain is occupying the top position with a total export value of
US$30 million. Followed by the Netherlands with US$25 million.
Meanwhile, exports of tuna to Germany continued to decline, which made
this market drop to the 3rd position.
to ITC, in the first 10 months of 2018, EU tuna imports decreased by
47% compared to the same period in 2017. In particular, import of canned
tuna declined by 46%, while imports of loin/fillets frozen tuna dropped
the market segment of canned tuna, Italy, Spain, France, England and
Germany were the 5 largest import markets for this product in the EU.
Compared to the same period in 2017, import of canned tuna of all 5
markets increased in value, but in terms of volume, only Spain has the
remained the largest supplier of canned processed tuna for the EU. The
value of canned tuna processing from Ecuador to the EU accounted for 19%
of the total import value of this market. Followed by Mauritius and the
Philippines with 7% and 6% respectively. Meanwhile, Vietnam was the
14th largest supplier canned processed tuna for the EU, accounting for
this canned processed product of HS16 code, Vietnam was still difficult
to compete with the import tax rate of 20.5%, while Ecuador has an
advantage with 0% tax rate. China was subject to a 24% higher tax rate
than Vietnam, while the Philippines enjoys 0%.
the loin/ frozen tuna fillets, France, Spain, Italy, the Netherlands
and Germany were the 5 largest import markets for this product in the
EU. Compared to the same period in 2017, while Germany reduced imports
of these products, the remaining 4 countries were all increasing.
Vietnam was the second largest supplier of frozen loin/ filet tuna for
the EU, after Korea.
general, in 2018, because of the high price of tuna at Manta, the catch
in this area decreased, causing the supply to be limited. So EU
countries tend to find alternative suppliers from Asian countries like
China or Vietnam.
frozen tuna loin/ fillet, with a tariff of 14.5%, Vietnam has no
advantage over Korea, or Mexico and Ecuador - the two countries were
enjoying 0% tax.