Vietnam’s tuna exports to reach US$1 billion in 2022

Monday, 24/10/2022 16:08
The Vietnam Association of Seafood Exporters and Producers (VASEP) said that the tuna industry is expected to reach US$1 billion in 2022.
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Vietnam’s tuna exports to reach USD1 billion in 2022 (Photo: VOV) 

Expert Nguyen Ha of the VASEP revealed that the United States continues to be Vietnam's largest tuna export market, with turnover in September edging up 33% to reach over US$31 million against the same period from last year.

According to Radio the Voice of Vietnam, most notably, tuna exports to member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) throughout the reviewed period soared by 95% to nearly US$11 million, while exports to Europe also grossed nearly US$18 million over the past nine months, up 64% on-year.

In line with these figures, Vietnamese tuna exports to EU markets such as Belgium and Germany in September saw sharp annual rises of 199% and 48%, respectively.

During the nine-month period, the country’s top six largest tuna export markets included the US with turnover of US$405 million, Canada with US$43 million, Japan with US$31 million, Israel with US$26 million, Saudi Arabia with US$23, and Thailand with US$20 million.

Due to high inflation occurring in some countries, the demand for tuna imports in several of the nation’s main markets has slowed down.

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Tuna exports surge by 55% to nearly US$808 million during the past nine months (Photo: VNA) 

Despite the growth rate declining compared to previous months, Vietnamese exports of frozen tuna loin saw high growth in the reviewed period, with the export value of the product group rising by 99% on-year.

Furthermore, exports of canned tuna and other processed tuna also increased by 6% and 18%, respectively.

Citadines Marina Halong wins World Luxury Hotel Awards 2022

Citadines Marina Halong, developed by BIM Group and The Ascott Limited, the world’s largest international serviced residence owner-operators, has won the Luxury New Hotel category of the World Luxury Hotel Awards.

The site consists of condos and luxury apartments and opened in late April, said Radio the Voice of Vietnam.

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Citadines Marina Halong (Photo: VOV) 

Located near the coast of Ha Long Bay in the northern province of Quang Ninh, Citadines Marina Halong boasts world-standard service quality and amenities, with the aim of becoming the highlight of the northern property market’s high-end segment.

Originally established in 2006, the World Luxury Hotel Awards is the pinnacle of achievement in the luxury hotel industry, offering international recognition as voted for by experts, guests, and travelers.

This year saw over 300,000 international travelers vote in the awards over a four-week period to select the winners.

Vietnamese wood exports to US surge over nine-month period

The opening nine months of the year witnessed the export of timber and wooden products to the United States grow by 1.9% to US$6.8 billion on-year, according to details given by the General Department of Vietnam Customs.

September alone saw the export value of timber and wood products to the fastidious market soar by 56.5% to reach US$573.6 million compared to the same period from last year, reported by Radio the Voice of Vietnam.

During the past eight months of the year, Vietnamese wooden furniture exports to the US declined by 2.8% to US$5.5 billion on-year, with the export proportion accounting for 87.93% of the total export value of timber and wood products to the US market.

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Vietnamese wood exports to US surge over nine-month period (Photo: vneconomy.vn) 

According to industry insiders, inflationary pressure has forced consumers in the US to tighten their spending, thereby leading to a slowdown in demand for timber and wooden furniture products in this market.

However, there is a positive outlook ahead for exporting timber and wood products, especially wooden furniture to the US in the time ahead, as the home construction season begins in the market, leading to a rise in the demand for wooden furniture products, experts noted.

Despite these positives, escalating inflation in the US coupled with the ongoing Russia-Ukraine conflict will continue to ramp up the price of raw materials and fuel, causing a sharp increase in the businesses’ costs.

Furthermore, other factors are anticipated to exert adverse impacts on Vietnamese timber and wood exports to the demanding market, including disadvantages in exchange rates, labour shortages in the post COVID-19 pandemic, negative impacts from global high inflation, and accusations of origin fraud for raw materials.

Vietnam issues nearly 4,600 planting area codes for export

Vietnam has issued 4,597 planting area codes for export activities in 54 provinces and cities, according the Ministry of Agriculture and Rural Development (MARD).

The country has also granted 1,419 codes for packaging facilities that are qualified for exporting fresh fruits to China, the US, Australia, New Zealand, Japan and the Republic of Korea, said the Nhan Dan newspaper.

Since the start of the year, the MARD has received and handled 777 notices on food safety regulations from member countries of the World Trade Organisation and handled 58 European warnings.

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A lychee growing region in Hai Duong Province (Photo: NDO) 

In order to manage planting area codes effectively, the ministry asked localities to step up the inspection and checking the use of such codes, while strictly penalising violations.

The MARD also asked the Plant Protection Department to negotiate with technical agencies of importing countries on opening the market and increasing the number of planting areas codes and packaging facilities qualified for export./.

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