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Hanoi, 5th February 2016
www.vasep.com.vn
VIETNAM ASSOCIATION OF SEAFOOD EXPORTERS AND PRODUCERS
TRUY XUẤTTừ nguyên liệu đến người tiêu dùngKhả năng truy suất là chìa khóa trong việc chứng minh chất lượng cũng như vệ sinh an toàn của sản phẩm với khách hàng của bạn.
Với giải pháp phần mềm INNOVA các nhà chế biến thủy sản có thể truy xuất từng công đoạn của quá trình chế biến sản xuất, từ nguyên liệu đến thành phẩm.
Phần mềm quản trị sản xuất được tích hợp vào quy trình chế biến hiện hữu và ghi lại từng chuyển động của quá trình này từ khâu tiếp liệu đến khâu xuất hàng.
Để biết thêm thông tin, vui lòng truy cập:www.marel.com/Innova/traceability
Sức mạnh quản trị sản xuấtINNOVA
tracebility_Pangasius_A4.indd 1 10.7.2014 12:09:15
CONTENTS
CHAPTER I: OVERVIEW ON SEAFOOD MARKET IN VIETNAMI. PRODUCTIONII. IMPORTS III. EXPORTS
CHAPTER II. SHRIMP PRODUCTION AND EXPORTSI. PRODUCTIONII. EXPORTS
1. Products2. Markets3. Shrimp exporters of Vietnam
III. SHRIMP IMPORTS
CHAPTER III: PANGASIUS PRODUCTION AND EXPORTSI. PRODUCTIONII. EXPORTS
1. The structure of export products 2. Importing markets 3. Pangasius exporters
CHAPTER IV. TUNA EXPORTSI. TUNA PRODUCTS FOR EXPORTSII. MAJOR IMPORTING MARKETSIII. TOP TUNA EXPORTERSIV. TUNA IMPORTS
CHAPTER V. EXPORTS OF CEPHALOPOD & OTHER MARINE PRODUCTSI. CEPHALOPODSII. BIVALVE MOLLUSKIII. CRAB AND SWIMMING CRAB IV. SURIMI
CHAPTER VI. OPPORTUNITIES, CHALLENGES AND FORECASTSI. OPPORTUNITIES 2. CHALLENGES3. FORECASTS
6 7
911
2526 272728
36 37
38394040
40 48
4950505455
56 57 61 64 66
69707173
Direction of implementation
Truong Dinh hoe (Mr) - General Secretary of VASEP
in charge of content anD publication
nguyen hoai naM (Mr) - Deputy General Secretary of VASEP
managing eDitor
Le hang (Ms)
email: [email protected]
experts of implementation
nguyen Thi ngoc Thuy (email: [email protected])
nguyen Van ha (email: [email protected])
Ta Thi Van ha (email: [email protected])
Le Thi Bao ngoc (email: [email protected])
PhÙng KiM Thu (email: [email protected])
publisher:
nguyen Thu Trang
email: [email protected]
Tel: +84 3 8354496 ext: 212
Mobile : +84 9 06151556
preface
The year 2015 ended with seafood export value of us$6.57 billion, down 16.1% lower than 2014. Seafood exporters experienced a tough year, exports decreased due to fall in average import prices, currency fluctuations reduced demand and increased competitive pressure.
exports of all major products dropped around 6-25%. Shrimp exports are affected the most. Shrimp price in main importing markets caused sales to decrease by 25.3% in 2015, reaching uS$2.9 billion. Vietnam shrimp exports to the uS, the largest market, declined while india and indonesia became more important markets.
after four consecutive years maintaining at around uS$1.7 billion, pangasius exports in 2015 fell to uS$1.56 billion with decreases reported in most major markets except for china. high anti-dumping duties in Por10 and Por11 were the reason for the decrease and it is expected that pangasius exports will continue the declining trend as uSDa starts its catfish inspection program.
The dollar appreciated against the euro, yen and other currencies, making import demand in major markets fall, competition in the uS market increased and therefore, impact on shrimp, pangasius along with tuna (down 6%) and octopus (-11%).
This is the main reason why exports to most major markets fell 6-25% compared to 2014.
Lower prices and currency fluctuations will continue to affect Vietnam’s seafood exports in 2016. however, opportunity for lower tariff will come with the signing of the FTa with South Korea, eu, eurasian economic union, and Trans-Pacific partnership (TPP). Therefore, it is forecast that Vietnam’s seafood exports will increase slightly in 2016.
report on Vietnam seafood exports 2015 gives you overview on seafood exports by major items, Vietnam’s position in import markets and competitors in the past year, identify opportunities, challenges and forecasts on seafood production and exports in 2016.
We would like to present this report to enterprises and reader and look forward to receiving your feedback. all comments can be sent to: Ms Le hang - email: [email protected] Tel: 043 7719016 ext: 204Mobile: 0982 195 872.
editor board
0706
chapter i:oVerVieW on SeaFooD MarKeT in VieTnaM
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
Total seafood exports by Vietnam in 2015 reached us$6.57 billion, down 16.1% from 2014. Lower demand from consumers markets was the main factor affecting to Vietnam seafood exports. importing demand decreased due to depressed global economy, uSD’s strength against domestic currencies of importers. Besides, the devaluation of currencies from Vietnam’s competitors made Vietnam seafood products less competitive in the major markets, especially the u.S. market.
The export turnover of all main seafood products reported the reduction of 6 – 25% and the sales to all key markets downed 11-26% compared with 2014, except for china and aSean.
i. proDuction
1. capture
The year 2015 was a good year for fishing activities on the back of decreasing fuel price, lower production costs, favourable weather conditions and rising price of marine products. offshore fishing activities received more investment on the back of policies supporting for aquaculture and offshore fishing under the Decision no. 48/2010/QĐ-TTg and supportive policies in ship building under the Decree no. 67/2014/nĐ-cP.
Tuna fishing: Tuna output of 3 main producing provinces in 2015 estimated to reach 17,884 MT, down 3.8% on par with 2014. in which tuna yield in Phu yen province was 4,300 MT, up 6.7% year on year; Binh Dinh with 8,950 MT (-5%); Khanh hoa with 4,634 MT (-10%).
2. aquaculture
Fisheries production in the whole country in 2015 hit 3,533 thousand mt, up 1.6% year on year. Despite rise in output, aquaculture sector in 2015 encountered a lot of obstacles mainly due to low demand from importing markets.
2.1.Pangasius:
Pangasius sector in 2015 posted a lot of risks due to limitation in techniques of farming, processing and consuming. higher production costs lessened competitiveness of pangasius products for exports. Due to difficulties in traditional markets, exporters shifted to other markets without high requirements on quality which reduced the export price. as a result, the domestic price of raw pangasius must subject to high pressure. Pangasius output in 2015 in the Mekong Delta estimated to reach 1,123 thousand MT, up 0.4% year on year in which Dong Thap province gauged to touch 375,277 MT (-6%), an giang with 248,064 MT (+5%), can Tho with 153,140 MT (+2%).
0706
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
2.2. Brackishwater shrimp:
Brackishwater shrimp production in Vietnam in 2015 was affected by unfavorable weather conditions. Loss in many shrimp farming areas and reduction in raw shrimp price cause farmers lack of capital to invest and renovate their production.
-black tiger shrimp: in the Mekong river Delta, the yield of black tiger shrimp estimated to reach 255,873 MT, up 4% year on year. in which, Bac Lieu had its estimated production of 69,256 MT (+13%), Soc Trang with 16,615 MT (+5%), Tra Vinh with 13,955 MT (+3%).
0908
TOTAL AREAFreshwater areaPangasius Tilapia Other species Salt/brackishwater area Brackishwater shrimp farming areaincl: Black tiger shrimpWhiteleg shrimpMollusk farming areaMarine finfish areaSeaweed farming areaOthersCage farming (thousand m3)TOTAL PRODUCTION- Capture production--marine catch-- inland catchAquaculture productionFreshwater production Pangasius Tilapia Other speciesCage farmingSalt/brackishwater productionBrackishwater shrimp productionincl: Black tiger shrimpWhiteleg shrimpMarine finfish productionMollusk productionSeaweed productionOther fish productionCage farming
105.1107.4
98110.4113.7
103.997.7
100.182.3
128.2114.5125.0125.3
103.6104.0104.3106.1
101.6103.2106.7
97.8128.1
103.090.5
101.682.9
103.4106.0
174.4
1,278450
525,4400830
691,8603
89,642,315,0
2556
6,5593,0262,840
1863,5332,4131,221
1821,071
1,120595,9268,3327,6
90254,5
30150
1,257419
5,023
391799708
602,5106
3313,1
2044,7
196,3302,9102,722
1833,4252,3391,144
186836
1,087658,4
264395
87240
8616
1,300450
5,2
850750650100
6,4002,6002,400
2003,8002,4501,050
1,350710260450
I1
2
II1.
2.
98.510096.2
97.692.292.887.0
102.5116.4118.3
93.093.098.5
116.3
83.091.795.888.5
VIETNAM FARMING AREA AND PRODUCTION OF FISH IN 2015 (Unit: Production: 1,000 MT, Area: 1,000 ha)
ResultPlan Comparison (%)Plan for
2015 2014 2015Items
Source: D-Fish
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
- Whiteleg shrimp: Whiteleg shrimp yield estimated to reach 344,600 MT; down 3.7%. The production of the species in the Mekong Delta in 2015 estimated to touch 218,930 MT, down 9%.
ii. imports
Total seafood imports by Vietnam in 2015 hit more than us$1 billion, up 0.5% from 2014. in which shrimp imports accounted for the biggest proportion of 40% with the import value of uS$426 million, down 11%. Tuna imports hit uS$215 million, up 15% and representing 20% of the total imports; imports of other marine finfish reached uS$351 million, up 11% and taking the proportion of 33%.
Vietnam mainly imported seafood products under the form of frozen/fresh/live products serving for outsource, process and export. in which imports of frozen/fresh marine finfish (hS 0302 and 0303) reached uS$283 million, up 12%; frozen/fresh tuna (hS code 03, except for hS code 0304: fish fillet) hit uS$184 million, up 10%; the import value of frozen/fresh/live whiteleg shrimp (hS 03) touched uS$281 million, up 8% while frozen/fresh/live black tiger (hS 03) hit uS$86 million, down 41%.
india was the largest supplier to Vietnam with main products of shrimp, tuna. import value from india reached us$322 million, down 9% and making up 30% of the total imports. aSean was the next with uS$114 million, down 7% and accounting for 11%. The third position was for Taiwan – an important supplier of skipjack tuna to Vietnam – reporting the value of uS$89 million, up 20% and making up 8.3%.
0908
828,6355,130,1251,430,0032,709,5552,717,252
282,668,1012,660,801
315,68852,439,182
350,899,3421,144,5431,666,956
184,409,68227,659,573
214,880,753
0.10.50.10.30.3
26.50.2
0.034.9
32.90.10.2
17.32.6
20.1
Canned finfish (ext tuna, pangasius) (HS code 16)Other processed finfish (ext tuna, pangasius) (HS code 16)Fish seedDried finfish (HS code 0305) (ext tuna, pangasius)Live finfish + ornamental fish (HS code 0301Frozen/fresh finfish (ext tuna, pangasius) (HS code 0302 and 0303)Fish paste and surimi Fish sauce in all varietiesFinfish fillet and finfish meat (ext fish paste & surimi, tuna, pangasius) (HS code 0304)
Canned tuna (HS code 16)Other processed tuna (Hs code 16)Dried/fresh/frozen/live tuna (HS code 03) (ext HS code 0304)Tuna (HS code 0304, ext fish paste and surimi)
+6.3+260.6+194.5+323.8+213.6
+12.6+17.7+54.2
-9.4+11.2+18.0
+124.9+10.4+81.9
+16.8
SEAFOOD PRODUCTS IMPORTED INTO VIETNAM IN 2015
PRODUCTS ProportionValue (US$) Compared to 2014 (%)
Group of products
Other finfish (from HS code 0301 to 0305, and 1604, ext tuna, pangasius)
Tuna (HS code 03 & 16)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
1110
12345678
910111213
14151617181920212223242526
27
10.75.52.61.30.50.40.30.2
0.00036.81.71.61.31.10.4
0.20.10.10.10.1
0.050.040.040.040.02
0.00025.76.15.05.0
114,415,28758,964,78827,248,89413,904,895
4,835,3954,748,9052,906,4751,803,203
2,73272,321,85018,222,81016,661,57513,416,72111,933,262
3,927,029
1,674,5001,281,0291,198,3681,025,653
948,050529,624466,992421,448408,819203,689
1,94860,380,25565,561,82853,550,41753,423,095
Vietnam (temporary import for reexport)
IndonesiaThailandSingaporePhilippinesMalaysiaMyanmarBrunei
The U,KPolandDenmarkSpainFrance
IrelandLithuaniaAustriaThe NetherlandsEstoniaBulgariaFinlandBelgiumGermanyPortugalItalySouth KoreaJapan
China
-7.550.1
-38.1-18.2
1.3-48.1-34.8-64.0-92.9
9.016.8
-34.4-0.5
139.924.2
37.9432.3133.9
8.9486.3176.4596.8
53.450.9
307.253.6
6.528.127.9
SEAFOOD SUPPLIERS TO VIETNAM IN 2015Source: VASEP (based on statistics of Vietnam Customs)
Suppliers Value (US$)
Value (US$)Suppliers
Propor-tion(%)
Propor-tion(%)
Com-pared to 2014 (%)
Com-pared to 2014 (%)
No. No.
ASEAN
EU
China & Hong Kong
38,585581,220
7,529,5638,149,368
611,23621,749,648
22,360,884356,363
7,868,994142,116642,496
25,227,98034,237,949
25,24810,226,787
1,049,62111,301,656
414,973414,973
8,244,873280,696,518
15,563,4601,000,512
344,20831,705,478
1,949,71586,426,679
425,931,4431,068,176,368
0.0040.10.70.80.12.02.1
0.030.7
0.010.12.43.2
0.0021.00.11.1
0.040.04
0.826.3
1.50.1
0.033.00.28.1
39.9100.0
Processed pangasius (HS 16)Dried/frozen/fresh/live pangasius (HS code 03) (ext HS code 0304)Pangasius HS code 0304 (ext fish paste and surimi)
Processed crab and other crustacean (HS code 16)Salted/dried/frozen/fresh/live crab and other crustacean (HS code 03)
Processed octopus (HS code 16)Salted/dried/frozen/fresh/live octopus (HS code 03)Other processed squid (HS code 16)Smoked squid (HS code 03), including ready-to-eat dried squid (HS code 16)Frozen/fresh/live squid (HS code 03)
Clam seedFrozen/fresh/live mollusk (ext squid and octopus) (HS code 0307)Processed mollusk (ext squid and octopus) (HS code 160590)
Other bivalve mollusk (Sea cucumber, sea anemore, sea urchin, starfish, peanut worm,)
Processed vannamei (HS code 16)Frozen/live/fresh vannamei (HS code 03)Shrimp seedOther processed shrimp (HS code 16)Dried other shrimp (HS 03)Frozen/live/fresh other shrimp (HS code 03)Other processed black tiger shrimp (HS code 16)Frozen/live/fresh black tiger shrimp (HS code 03)
Total:
+277.6+49.7
+57.2+192.0
-5.7-3.9
+137.7+20.8+16.9
+126.3-24.8-15.7-59.8-35.3-26.3-34.7+6.2+6.2+5.3+8.0-22.2
-3.1+3.725.2
-23.3+205.9
-40.8-10.7+0.5
Pangasius (HS code 03 & 16)
Crab and other crustacean (HS code 03 & 16)
Mollusk (0307 & 16)
Bivalve mollusk (HS 0307 & 16)
Other mollusk (ex. Cephalopod and bivalve mollusk)
Shrimp in all varieties (HS code 03 & 16)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
iii. exports
- reversing the upward trend in 2014, seafood exports in 2015 reported the decline of 16% against 2014 and 2.2% against 2013 due to rise in raw shrimp supply and lower importing demand. Seafood exports in 2015 reported the deepest dive in the past 16 years (2000-2015).
- Weak importing demand, plunging export price and the devaluation of
1110
2829
303132333435363738394041424344454647484950515253545556
5758 59606162636465666768697071727374757677787980 8182838485
0.013.0
62.730.2
8.37.43.42.81.51.31.10.90.50.50.50.30.30.30.30.30.30.20.20.20.20.10.10.10.10.1
0.10.10.10.10.10.10.1
0.050.040.040.040.030.030.030.020.020.020.020.020.010.010.010.010.010.010.010.01
0.0050.002
100.0
127,32332,256,646
669,689,908322,225,308
88,993,43678,877,10536,459,40230,346,36615,884,06414,319,78311,292,392
9,990,5905,713,1755,615,0884,969,4233,694,4283,551,1463,334,2193,138,2202,874,1102,832,2402,505,3832,340,1972,086,4521,875,1841,588,3151,289,3891,253,7671,094,1341,083,501
1,010,849952,624855,602774,735759,173670,062606,200518,297434,979423,364378,462366,340329,327308,160248,452221,000212,213178,580161,150159,525153,306149,891141,600108,992103,844
89,19673,67549,49824,000
1,068,176,368
Hong KongThe US
IndiaTaiwanNorwayRussiaChileEcuadorCanadaKiribatiArgentinaAustraliaNew ZealandMicronesiaPapua New GuineaFiJiMexicoPakistanMarshall IslandsSeychellesMauritiusSolomon IslandsFaroe IslandsVanuatuCape VerdeTuvaluVenezuelaSaudi ArabiaPanama
BelizeGuineaEl SalvadorIceland SenegalGreenlandOmanPeruAntigua and BarbudaMaldivesNicaraguaBangladeshIsrael Christmas IslandsGhanaUAE Cook Islands MozambiqueMauritaniaBahrainNorth KoreaHondurasTanzania UruGuayIranUgandaMoroccoSouth AricaKenyaTotal
547.1-4.3-3.4-8.820.019.312.3
-16.1-29.7-27.239.7
-15.780.7
-11.4-21.777.730.9
294.1-42.4-51.3266.9
53.3160.4-60.9-82.8
18.8
361.1
-32.01.805.2
-39.3304.3-67.2-36.3-17.1
617.8
-82.3-85.4
309.35.6
-21.1-53.7
-80.3-48.4-52.6245.7-93.6395.5-73.5-89.147.90.5
Others
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
foreign currencies against uSD affected to the export turnover of Vietnam’s seafood products, particularly shrimp. Shrimp exports reported the continuous slump of 15-30% in 2015.
- in the whole year 2015, seafood exports in october reached the highest with uS$698 million, lower than that of the same month in 2014 (uS$822 million). Seafood exports in the other months of the year posted the year-on-year reduction of 14-25%.
- Seafood exports in QiV/2015 was similar to that of Qiii with the value of uS$1.82 billion, down 14% year on year. exports in Qi hit uS$1.3 billion and increased to uS$1.6 billion in Qii.
iii.1. main products for exports
out of the total seafood exports, shrimp sales remained to hold the largest proportion of 44% (lower than 50.2% in 2014) while the proportion of pangasius, tuna, other marine products increased: Pangasius from 22% to 23.4%, tuna from 6.1% to 6.8%.
1) tôm
1312
Shrimp (HS 03 and 16)- Whiteleg shrimp- Black tiger shrimpPangasius (HS 03 and 16)Tuna (HS 03 and 16)- HS 16- HS 03Cephalopod (HS 0307 and 16)Other marine finfish (HS 03 and 16)TOTAL
-25.3-24.6-30.5-11.5
-6.0-10.1
-2.3-11.2+2.0-16.1
840.846485.269289.422
408.394117.000
52.38164.619
114.337340.500
1,821.077
716.209414.524243.835
393.146120.415
51.41169.004
111.610321.324
1,662.705
573.954339.985178.193
356.851104.310
51.94152.369
86.963242.539
1,364.617
-19.2-16.5-26.8-17.3
-6.6-16.0+3.6
-12.3+3.5-13.8
821.361502.629251.819
406.779113.247
53.11760.131
116.284371.310
1,828.981
2,952.3711,742.408
963.2701,565.170
454.972208.850246.123
429.1941,170.8936,572.600
VIETNAM SEAFOOD PRODUCTS FOR EXPORT IN 2015 (US$mil.)
Varia-tion (%)
Varia-tion (%)
QIII2015
QIV2015 2015QII
2015QI
2015Products
VIETNAM SEAFOOD EXPORTS2013 - 2015
US$ Mil.
Jan May SepMar Jul NovFeb Jun OctApr Aug Dec
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
1) shrimp
in 2015, Vietnam shrimp exports witnessed the deepest dive of 25.3% to reach us$2.95 billion with the proportion of 44% in the total seafood exports. in which exports of whiteleg shrimp accounted for 59% to touch uS$1.74 billion, down 25% year on year; exports of black tiger made up 32.6% to reach uS$963 million, down 30.5%.
Shrimp exports in QiV/2015 reached uS$821 million, down 19% year on year in which sales of whiteleg shrimp was uS$503 million, down 16.5% while that of black tiger downed 26.8% to gain uS$252 million.
in 2015, Vietnam shrimp was exported to 95 markets. exports to main markets reported the significant decline: the u.S. (-38%), eu (-19,7%), Japan (-21%), china (-15%), South Korea (-21%)…
in 2014, shrimp exports were boosted by rise in domestic raw shrimp supply and shrimp imports, down in shrimp output and sales from china and Thailand, higher export price. in 2015, the trend was reversed: export price fell considerably, shrimp supply by india rose sharply, the price of indian shrimp was competitive in the u.S. market, currencies from Vietnam’s rivals (india, Thailand, china, indonesia) devaluated by 15-30% while VnD/uSD was adjusted slightly.
in 2014, Vietnam took the lead in shrimp export value with the market share of 15.2%; higher than those of india, ecuador, china, indonesia and Thailand. in 2015, Vietnam was
1312
VIETNAM SHRIMP EXPORTS, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
450400350300250200150100
500
0-5-10-15-20-25-30-35-40-45
2014 2015 Growth Rate (%)
Seafood products for exports in 2015 (Value)
Pangasius23.4%
Shrimp 44.2%
Tuna 6,8%
Crustacean 1.8%
Other fish 16.0%
Cephalopod 7.7%
Seafood products for exports in 2014 (Value)
Pangasius 22.3%
Shrimp 49.9%
Tuna 6.1%
Crustacean 1.7%
Other Fish 12.9%
Cephalopod 7.1%
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
outstripped by india. Shrimp exports by Vietnam in the first 3 quarters of 2015 was 10.6% lower than those of india. Vietnam has become the second largest importer of indian shrimp behind the u.S. with the import volume of 50 thousand MT, worth by uS$374 million in the first 3 quarters of 2015.
2) pangasius
after slight growth in 2014, Vietnam pangasius exports in 2015 reported the continuous year-on-year decline. Pangasius sales in 2015 achieved us$1.56 billion, down 11.5% year on year and making up 23.8% in the total seafood exports. after remaining at uS$1.7 billion in 4 consecutive years, pangasius revenue reported the sharp decline in 2015.
in 2015, Vietnam pangasius was sold to 142 markets. exports to almost markets reported the slump: eu (-17%), the u.S. (-6.3%), Mexico (-16.8%)...
Pangasius exports in QiV/2015 attained uS$407 million, down 17% year on year.
importing demand from main markets, particularly eu weakened because eur’s devaluation against uSD caused importers to limit importing or request for cutting down the import price.
importing demand of pangasius from the u.S. may be still high. however, the final result of Por10 and the preliminary result of Por11 issued by the Department of commerce (Doc) in 2015 created obstacles for Vietnam pangasius exporters. With the duty rate of nearly uS$1/kg imposed on Vietnam exporters in Por10, Vietnam exporters find hard to remain exporting to the u.S. There are more than 10 Vietnamese pangasius exporters to the u.S. if the preliminary duty rate of uS$0.6/kg of Por11 is announced officially, Vietnam exporters will continue to face challenges to export to the market.
3) tuna
Tuna exports from Vietnam continued the downward trend from 2013 up to now. in 2015, Vietnam exported tuna to 107 markets, earning us$455 million, down 6% compared to 2014.
Tuna exports in QiV/2015 reached uS$113 million, down 6.6% in which exports of fresh/live/frozen tuna showed the recovery of 3% to uS$60 million after the growth of 13% in
1514 1514
VIETNAM PANGASIUS EXPORTS, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec%
200180160140120100
80604020
0
0
-5
-10
-15
-20
-25
-30
2014 2015 Growth Rate (%)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
Qiii with nearly uS$65 million. Meanwhile, processed tuna exports downed 16% to uS$53 million.
in 2015, tuna exports to eu and Japan continued to report the deep dive of 28% and 9.5%, respectively. Weaker demand from these two markets was due to the devaluation of yen and eur.
on the contrary, tuna exports to the u.S. saw the growth of 8.5%. uSD’s strength encouraged exporters to shift to the u.S. market. More than 50% of tuna products exported to the market was canned tuna, tuna in bags or containers. There are about 20 Vietnamese tuna exporters to the u.S. market.
4) cephalopod and other marine products
Vietnam cephalopod exports in 2015 reached us$429 million, down 11% year on year and representing 6.5% of total seafood exports. in which exports of squid made up 55% with uS$236 million, down 15%; sales of octopus made up 95% with uS$193 million, down 5%.
cephalopod shipment in QiV/2015 reached uS$116 million, down 12% year on year.
in the past 5 years, cephalopod exports in 2015 reported the deepest dive. exports of the item only rose in Jan and Feb/2015 and reported the slump in all other months in the year.
exports to main markets in 2015 slowed down: eu (-23.7%), South Korea (6.2%), aSean (-9.6%), Japan (9.5%)...
1514 1514
VIETNAM TUNA EXPORTS, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
60
50
40
30
20
10
0
10
5
0
-5
-10
-15
-20
-25
2014 2015 Growth Rate (%)
VIETNAM CEPHALOPOD EXPORTS, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb Aug May NovMar SepJun Dec
%
504540353025201510
50
40
30
20
10
0
-10
-20
-30
2014 2015 Growth Rate (%)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
importing demand from main markets, except for the u.S. softened due to the devaluation of currencies from these markets.
exports of marine finfish and other marine products (except for tuna, cephalopod) in 2015 touched uS$1.17 billion, up 2%. exports of the items in QiV/2015 reached uS$371 million, up 3.5%.
iii.2. main importing markets
in 2015, Vietnam exported its seafood products to 164 markets. out of the total seafood exports by Vietnam, the proportions of the uS, Japan went down; eu stayed the same while those of china, South Korea and aSean rose.
1716 1716
The USEUThe UKGermanyThe NetherlandsItalyFranceJapan ChinaHong KongSouth KoreaASEAN CanadaAustraliaTaiwanMexicoOthersTotal
-24.2-17.8
+30.5-6.8
-24.5-18.4-21.6-13.9+3.0+2.5
-11.7+10.2
-26.5-25.2-19.0-12.3-24.1-16.1
-12.5-18.6
+107.9+44.7
-28.9-12.5-20.2-18.7
+21.4+9.4
-10.8+7.5-42.3-26.9-21.3-18.7-19.8-13.8
383.752302.987
59.33345.22843.57027.51729.053
283.262179.494
43.190167.646133.437
51.08647.94127.34035.752
216.2831,828.981
354.891321.039
58.05451.00847.89032.70229.755
298.122166.668
39.302151.698131.121
61.72751.97435.41028.904
219.5241,821.077
321.719300.183
48.07448.12846.75634.29928.582
268.412143.090
38.291146.153128.105
46.56141.99032.95414.732
218.8061,662.705
261.522251.077
37.30250.59334.91322.41725.497
193.047125.954
33.339119.604106.566
37.76637.04724.08930.443
177.5031,364.617
1,321.8841,175.287
202.763194.958173.129116.935112.888
1,042.843615.207154.122
585.101499.228197.140178.952119.793109.831727.335
6,572.600
VIETNAM SEAFOOD EXPORTS TO MARKETS IN 2015 (US$mil.)
Variation (%)
Variation (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
Main importing markets, 2015 (Value)
The U.S 20.1%
The U.S 22.0%Japan
15.9%
Japan 15.5%
EU 17.9 %
EU 18.0%
Canada3.0%
Australia3.1%ASEAN 7.6%
ASEAN 5.7%
Others 17.3%
Others 19.2%South Korea
8.9%
South Korea 8,6%
China 9.4%
China 7.9%
Main importing markets, 2014 (Value)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
1) the u.s.
The uS remained to be the largest market of Vietnam seafood, accounting for 20.7% of the total seafood exports, 22.3% of the total shrimp exports, 20% of pangasius exports, 41.8% of total tuna exports.
Vietnam seafood exports to the u.S. in 2015 reached us$1.32 billion, down 24% compared to 2014 in which 49.7% was shrimp, pangasius with 23.9%, 14.4% was tuna.
Seafood exports to the market in QiV/2015 decreased by 12.5% to uS$384 million.
Vietnam pangasius exports to the u.S. were affected by the final result of uS$0.97/kg from Por10 and the preliminary result of uS$0.6/kg from Por11. however, shrimp exports to the u.S. in 2015 enjoyed benefit from the final result of 0.91% from Por10, much lower than that from Por8.
in Jan-nov 2015, seafood imports into the u.S. reached 2.45 million MT, valued at uS$17.5 billion, up 2.1% in volume but down 7.5% in value. The decline in import value was due to uSD’s strength and drop in shrimp price.
Shrimp imports into the u.S. reached 531,172 MT (+2.1%) with the value of uS$4.96 billion (-19.2%). Tuna imports touched 248.3 thousand MT (-6%) with the value of uS$1.36 billion (-4.4%). Total seafood imports into the u.S. in 2015 estimated to achieve uS$18.7 billion, down 7% from 2014 (uS$20.1 billion).
The seafood consumption per capita in the u.S. in 2015 was over 15 pounds.
1716
TotalPangasius
Shrimp
Tuna
MolluskCrabMarine finfish
TotalHS16HS03TotalHS16HS03TotalHS16HS03
1,744.452336.803
0.320336.483
1.064.049486.898577.151175.217
79.67395.54413.58270.27584.525
1,321.844315.496
0.161315.335657.042348.082308.960190.164
77.228112.936
14.38957.68487.110
-24.2-6.3
-49.6-6.3
-38.3-28.5-46.5+8.5
-3.1+18.2
+5.9-17.9+3.1
10023.90.0123.949.726.323.414.4
5.88.51.14.46.6
Propor-tion (%)2014 2015 Varia-
tions (%) Products
VIETNAM SEAFOOD PRODUCTS EXPORTED TO THE U.S. (US$mil.)
VIETNAM SEAFOOD EXPORTS TO THE U.S, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar DecJun Dec
%
180160140120100
80604020
0
0-5-10-15-20-25-30-35-40-45-50
2014 2015 Growth Rate (%)
1716
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
Vietnam was the 5th largest supplier of seafood to the u.S. with the market share of 7%. china ranked the first with the market share of nearly 14%. it was followed by canada, indonesia and chile. Seafood import value into the u.S. from asian countries reported the decline mainly due to drop in average shrimp price in which imports from Vietnam saw the deepest decrease of 20%.
in 2014, Vietnam was the third supplier of shrimp to the u.S. with the market share of 15% behind india (20.6%) and indonesia (19.7%). in 2015, Vietnam remained the third position with lower proportion of 12% while the market share of india increased to 22.7% and indonesia rose to 21.5%.
2) eu
eu maintained the 2nd position in importing seafood from Vietnam, accounting for 18.4% of the total seafood exports by Vietnam, 18.6% of the total shrimp exports; 18.2% of total pangasius exports, 21.4% of total tuna exports, 14.3% of total cephalopod exports.
Vietnam seafood exports to eu in 2015 gained uS$1.17 billion, down 17.8% year on year in which shrimp sales made up 46.7%, pangasius occupied 24%, tuna with 8.3%, cephalopod with 9.6% of the total seafood exports.
Seafood exports to eu in QiV/2015 recorded us$303 million, down 18.6%.
The deep dive in seafood imports into eu was attributable to lower consumption demand and the devaluation of eur against uSD.
in Jan-oct 2015, seafood imports into eu reached uS$38 billion, down 12.5% year on year. The figure in 2015
1918
TotalPangasius
Shrimp
Tuna
MolluskCrabMarine finfish
TotalHS16HS03TotalHS16HS03TotalHS16HS03
1,428.971344.290
8.677335.613682.748247.519435.229135.215
65.09470.121
135.61126.000
105.108
1,175.287285.101
8.220276.881548.582252.621295.961
97.37550.52046.855
113.22520.978
110.026
17.8-17.2
-5.3-17.5-19.7+2.1-32.0-28.0-22.4-33.2-16.5-19.3+4.7
10024.3
0.723.646.721.525.2
8.34.34.09.61.89.4
Propor-tion (%)2014 2015 Variation
(%)Products
VIETNAM SEAFOOD PRODUCTS EXPORTED TO EU (US$mil.)
VIETNAM SEAFOOD EXPORTS TO THE EU, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
180160140120100
80604020
0
0
-5
-10
-15
-20
-25
-30
2014 2015 Growth Rate (%)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
estimated to touch uS$46 billion, down 8% from 2014. in which the u.K was the largest consumer market in the eu bloc, accounting for 12-13% of monthly seafood import value into eu. The u.K imported uS$4.6 billion of seafood in Jan-oct 2015.
Frozen finfish fillet (hS code 0304) was the most-consumed product in total seafood products imported into eu with the proportion of 20%. Monthly imports of frozen finfish fillet into eu reached uS$750 million.
Demand for frozen finfish is still high in eu, particularly the the eastern europe. consumers in the region are increasingly paying attention to sustainable development of aquaculture and capture. Therefore, sustainability certifications are required for exporters to access to the region. in the short term, these certifications will be applied to the high-end market in the northern europe and Western europe. in the long term, the certifications will be applied to other segments and the rest of europe.
Sustainability certifications on whitemeat fish are increasingly important and expected to become a requirement for the penetration into the northern and Western europe. Since 2014, in europe, almost whitemeat fish (mainly pangasius and tilapia) have been granted aSc certification. in which, the netherlands had 250 certificated products, Switzerland with 200 products and germany with 170 products.
in the long term, european importers will raise importing processed finfish from developing countries thanks to reasonable price. enterprises which have the advantage of producing value added products with high quality will find good business opportunities in the market.
3) Japan
as the 3rd largest importing market of Vietnam seafood, Japan accounted for 16.3% out of Vietnam’s total seafood exports. The market accounted for 19.5% of total shrimp exports, 23.6% of total cephalopod exports, 4.5% of total tuna exports, 12% of total surimi exports.
in 2015, total seafood exports from Vietnam to Japan reached nearly us$1 billion, down nearly 14% compared with 2014. in particular, shrimp accounted for the largest proportion of almost 56%; cephalopod occupied 10.7%, tuna with 2% and other marine finfish (excluding tuna) took 28%.
1918
VIETNAM SEAFOOD EXPORTS TO JAPAN, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%140
120
100
80
60
40
20
0
0
-5
-10
-15
-20
-25
2014 2015 Growth Rate (%)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
in the 4th quarter of 2015, Vietnam’s seafood exports to Japan reached us$283 million, down 18.7% year on year.
The TPP agreement that has been signed committed to cut down the tariff to 0% with the items like yellowfin tuna, skipjack tuna, shrimp, crab right after it takes effect. accordingly, Vietnam seafood exports to Japan are hoped to reap good results in the coming time.
Seafood imports into Japan (including fishmeal) in Jan-nov 2015 reached 215,997 MT, up 0.2% year on year. The average import price hit uS$5.94/kg, higher than uS$5.87/kg of 2014. imports of trout and salmon increased by 27% to 20,376 MT. imports of yellowfin tuna hit 5,486 MT, up 33.5%. imports of pollock surimi up 16.5% to 9,539 MT. Tuna imports rose by 89.7% to 2,845 MT. on the contrary, shrimp imports downed 8.3% to 15,111 MT. imports of squid downed 19% to 6,014 MT. crab imports reached 4,937 MT, down 11.3%. Fishmeal imports downed 29.2% to 13,155 MT.
4) china & hK
it was the third largest single market of Vietnam seafood after the u.S. and eu. china made up 9.6 percent of Vietnam’s seafood exports, 11.9 percent in total shrimp exports, 10.3 percent in pangasius exports and 5 percent in cephalopod exports.
Seafood exports to china rose sharply in Qi, followed by a rapid decline in Qii. in april and May 2014, exports rocketed to uS$ 70 million/month, this year export results were around uS$ 50-60 million/month. in QiV/2015, seafood exports reached us$179 million, up 21.4% year on year.
in 2015, seafood exports to china reached
2120
VIETNAM SEAFOOD EXPORTS TO CHINA, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
8070605040302010
0
200
150
100
50
0
-50
2014 2015 Growth Rate (%)
TotalPangasius
Shrimp
Tuna
MolluskCrabMarine finfish
TotalHS16HS03TotalHS16HS03TotalHS16HS03
1,211.05910.812
0.02610.787
743.439275.264468.175
22.5646.493
16.072121.133
19.740293.371
1,042.8439.5220.4219.101
584.269225.427358.842
20.4267.509
12.917111.316
25.593291.717
-13.9-11.9
+1.544.4-15.6-21.4-18.1-23.4
-9.5+15.6
-19.6-8.1
+29.7-0.6
1000.9
0.040.9
56.021.634.4
2.00.71.2
10.72.5
28.0
Propor-tion (%)2014 2015 Variation
(%)Products
VIETNAM SEAFOOD PRODUCTS EXPORTED TO JAPAN (US$mil.)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
2120
uS$615 million, up 3% year on year. Shrimp accounted for 57% of total exports, compared to 73% in 2014. Total shrimp exports to china in 2015 hit uS$350 million, down 15% year on year.
it is expected that shrimp exports to the market in 2016 will recover. according to Vietnam Trade office in china, the general administration of Quality Supervision, inspection and Quarantine (aQSiQ) allowed some Vietnamese enterprises to recover exporting live black tiger shrimp to the country.
it is also noted that pangasius exports to china increased 40-50% year on year continuously over months. now exports to china take up over 10% of Vietnam’s pangasius exports.
Vietnam’s exports to china rose 50% in the first half of 2015, thanks to geographical advantages. The cost of labor in Vietnam is not high in china, while Vietnam is a member of the TPP, can easily flow of goods to the eu market. indonesia and Malaysia are dependent on exports of oil, coal to china but china’s demand for two commodities no longer as high as before. Therefore, it is likely the two countries will enhance seafood in the chinese market, so this will be the second opponent of Vietnam’s seafood market china next few years.
5) south Korea
Vietnam’s seafood exports to South Korea in 2015 reached us$585 million, down 11.7% year on year. Korea accounted for 9.2% of Vietnam seafood exports, 8.5% of shrimp exports, 38.2% of cephalopod exports and 32% of surimi exports.
Shrimp is the major export item, taking up 43% of Vietnam’s total seafood exports to the market, followed by cephalopod with 28.7% and marine fish with 27%.
exports of 2 main products dropped in 2015. Shrimp exports declined by 21%, cephalopod exports fell by 3.7 % while marine fish up 0.5%.
Total seafood exports to Korea in QiV/2015 reached uS$167.6 million, down 10.8% year on year.
in 2015, seafood imports into South Korea reached 1.3 million MT, valued at uS$4.24
TotalPangasius
Shrimp
Tuna
MolluskCrabMarine fish
TotalHS16HS03TotalHS16HS03TotalHS16HS03
597.136113.152
935112.217414.065
19.501394.564
15.6262.841
12.78624.084
3.88859.239
615.207161.522
544160.978350.366
20.099330.267
12.5252.123
10.40122.927
5.88561.983
+3.0+42.7
-41.8+43.5
-15.4+3.1-16.3-19.8-25.3-18.6
-4.8+51.4
+4.6
10026.3
0.126.257.0
3.353.7
2.00.31.73.71.0
10.1
Propor-tion (%)2014 2015 Variation
(%)Products
VIETNAM SEAFOOD PRODUCTS EXPORTED TO CHINA (US$ millions)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
2322
billion, up 4% in volume and 2% in value from 2014. The average import price into the country was uS$3,249/MT, down 2% from uS$3,310/MT of 2014.
Vietnam was the third largest supplier of seafood to Korea with the market share of 13.5% behind china (26.3%) and russia (16.6%). The average export price of Vietnam seafood to the market reached uS$4,348/MT, notably higher than that from china (uS$3,249/MT) and russia (uS$2,642/MT). compared to 2014, the export price from Vietnam reported the sharpest drop of 10% while china downed 2% and russia up 8%.
Vietnam was the 1st largest supplier of shrimp to Korea, making up 51% of total shrimp imports by the market. in 2015, the export price to the market downed 21% to reach uS$8,296/MT from uS$10,444/MT in 2014. in Korean market, the price of Thailand shrimp reached uS$10,570/MT, higher than Vietnam.
Shrimp import price from other suppliers to Korea reported significant decline in which the shrimp price from china reported the deepest dive of 43%, Thailand downed 17%, ecuador downed 13%.
South Korea was the largest importer of Vietnam cephalopod. in terms of export value, Vietnam ranked the second after china in the Korean market. The average price of Vietnam cephalopod imported into Korea reached uS$5,290, higher than that of china (uS$4,632/MT).
in 2015, Korea imported 156.6 thousand MT of cephalopod, worth by uS$598 million, down 3% in volume and 4% in value. imports from china, Vietnam and Thailand reported
TotalPangasius
Shrimp
Tuna
MolluskCrabMarine finfish
TotalHS16HS03TotalHS16HS03TotalHS16HS03
662.8085.6200.0125.608
317.79890.623
227.1753.1973.101
95178.034
961157.197
585.1015.0210.0794.942
250.93582.863
168.0721.9361.912
25167.734
1.457158.018
-11.7-10.7
+556.3-11.9-21.0
-8.6-26.0-39.4-38.4-74.1
-5.8+51.6
+0.5
1000.9
0.010.8
42.914.228.7
0.30.30.0
28.70.2
27.0
Propor-tion (%)2014 2015 Variation
(%)Products
VIETNAM SEAFOOD PRODUCTS EXPORTED TO SOUTH KOREA (US$mil.)
VIETNAM SEAFOOD EXPORTS TO SOUTH KOREA, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
80
70
60
50
40
30
20
10
0
10
5
0
-5
-10
-15
-20
-25
-30
2014 2015 Growth rate (%)
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
2322
year-on-year reduction of 11%, 5% and 4%, respectively. The average import price from these suppliers reduced by 2-6%.
iii.3. seafood exporters
- in 2015, approximately 630 companies participated in seafood exporting activities, of which 130 exported pangasius, compared to 150 companies of 2014. another 160 companies exported shrimp, down from 200 companies last year. The number of companies exporting tuna is 80, adding 20 companies from last year.
- Top 100 exporters earned a total revenue of us$4.749 billion, accounting for 72% of total exports. in 2014, the proportion was 74% and total revenue was uS$5.781 billion.
- Minh Phu Seafood corp still holds first place with the revenue of nearly uS$341 million, down over 33%, representing 5.1% of the country’s exports, compared to 6.5% of 2014. The company is still the company with the most significant export result. Minh Phu - (hau giang province) slipped from no. 3 to no. 4 in the top list. Sales abroad decreased by 18% from uS$231 million to uS$190 million.
- in 2014, STaPiMeX had the second most outstanding performance with uS$249 million, representing 3.8% of total seafood exports of the country. in 2015, the company fell to number 3 with uS$199 million, down 20% and representing nearly 3%.
- Quoc Viet earned uS$163 million, dropped from number 4 to rank 6. The company contributed 2.4% of the nation’s exports. in 2014, the company earned uS$211 million.
- Vinh hoan replaced Stapimex to be the company with second best performance, from the 5th place in 2014. The company earned uS$207 million in 2014. in 2015, the company had uS$228 million, representing 3.4% of the industry revenue. The company experienced 2015 with a lot of success in developing sustainably, diversifying products.
- in 2015, top 10 largest exporters reported the revenue of us$1.76 billion, representing 26.3% of the total seafood exports of the country. in 2014, top 10 exporters reached the turnover of uS$2.13 billion, representing 27.5%. in 2015, top 10 exporters except for Vinh hoan corp posted year-on-year reduction.
1
2
3
4
5
6
7
8
9
10
1
2
3
4
5
6
7
8
9
10
341,319,100
227,593,269
198,858,564
190,035,514
181,324,498
163,428,780
123,188,691
121,415,865
116,663,771
95,693,656
511,007,605
249,374,500
231,066,154
211,078,371
207,471,554
207,195,239
139,783,557
135,871,663
126,364,979
109,835,129
MINH PHU SEAFOOD CORP
VINH HOAN CORP
STAPIMEX
Minh Phu - (Hau Giang province)
CASES
QUOC VIET CO., LTD
FIMEX VN
Trang Khanh Co., Ltd
BIENDONG SEAFOOD
HUNG VUONG CORP
MINH PHU SEAFOOD CORP
STAPIMEX
Cty CBTS Minh Phú - Hậu Giang
QUOC VIET CO., LTD
VINH HOAN CORP
CASES
HUNG VUONG CORP
FIMEX VN
Cty CB TS và XNK Trang Khanh
C. P Việt Nam
5.11
3.41
2.98
2.85
2.72
2.45
1.84
1.82
1.75
1.43
6.52
3.18
2.95
2.69
2.65
2.64
1.78
1.73
1.61
1.40
TOP 10 SEAFOOD EXPORTERS OF VIETNAM, 2014-2015
Companies 2015 Companies 2014VALUE (US$) VALUE (US$)Propor-tion (%)
Propor-tion (%)No. No.
Report on Vietnam Seafood Exports in 2015
CHAPTER I OVERVIEW ON SEAFOOD MARKET IN VIETNAM
2524
123456789
101112131415161718192021222324252627282930313233343536373839404142434445464748495051
525354555657585960616263646566676869707172737475767778798081828384858687888990919293949596979899
100
341,319,100227,593,269198,858,564190,035,514181,324,498163,428,780123,188,691121,415,865116,663,771
95,693,65693,099,02881,111,08370,209,03767,776,40167,506,40867,175,30866,460,46162,963,58161,748,08960,088,08259,265,00758,205,76753,364,09052,012,16550,594,22750,464,10849,359,34145,220,43744,113,81041,628,36440,961,26439,862,19139,789,96138,435,77637,882,00737,845,00137,042,38336,802,27135,816,19334,858,84634,182,03233,858,94932,598,07632,408,21431,568,90129,988,67129,477,01029,362,72028,672,63128,527,58128,404,543
28,006,80727,988,71426,586,50226,540,19026,534,80426,515,14026,060,44525,985,26025,828,43225,295,98025,239,93325,160,57725,041,33925,036,69424,816,11924,128,08022,771,35522,556,20722,365,10222,195,03522,067,15021,934,72021,843,03521,694,10421,508,53421,473,46121,065,56420,854,84320,674,65520,564,10220,261,36920,260,66020,004,90019,803,35619,685,26719,206,94819,086,83019,080,50019,040,17518,757,77218,566,96218,170,79918,094,55717,918,07717,555,97517,286,00416,540,74515,781,25415,753,996
1,823,179,5956,572,600,346
MINH PHU SEAFOOD CORPVINH HOAN CORPSTAPIMEXMINH PHU - (HAU GIANG PROVINCE)CASESQUOC VIET CO., LTDFIMEX VNTrang Khanh Co., LtdBIENDONG SEAFOODHUNG VUONG CORPNAVICOC. P VietnamTHUAN PHUOC CORPVINA CLEANFOODI.D.I CORPNHATRANG SEAFOODS F17HAVICOGOLDENQUALITY SEAFOOD CORPDragon Waves Frozen Food Factory Co., LtdYUEH CHYANG COAGIFISHAnh Khoa Co., LtdTrung Son Hung Yen Foodstuff JscGODACO HUNGCA CO., LTDBIDIFISCOSEA MINH HAIAUVUNG SEAFOODDAI THANH SEAFOODSAMANDA FOODS (VN) LTDSeaVinaNgoc Tri Food Processing JSCHIGHLAND DRAGONASEAFOODFATIFISHCONTSF SEAFOODSCAFISHHAVUCOTG CORPPATAYA VIETNAMFoodtech Co., LtdHHFISHHAI NAM CO., LTDCL-FISH CORPTITHICOThanh The Seafood Co., LtdCo Chien Seafood JSCSEANAMICOMai Linh Co,LtdTHADIMEXCOSEAPRODEX DA NANG
BASEAFOODThong Thuan SeafoodS,G FISCOTrung Son CorpUTXI CONguyen Tien Co., LtdGn FoodsVANY COEVERWIN INDUSTRIAL CO.,LTD SEAPREXCO VIET FOODS CO., LTDThong Thuan- Cam Ranh Seafood JSCCOIMEXSEAPRIEXCO No, 4SEAPRIMEXCO VIETNAMCamimexTrinity Viet Nam Thinh Hung Co., LtdVIETNAM FISH-ONE CO., LTDMinh Bach Seafood Co., LtdThien Phu SeafoodCADOVIMEX IINIGICO CO, LTDCUULONG SEAPROHuy Minh Co., Ltd BACLIEUFISQuoc Ai SeafoodTRONG NHAN SEAFOOD Co.,LtdMinh Cuong SeafoodVan Dat Food FINE FOODS COMPANY (FFC)Hoa Trung VIFOODS Co.,LtdDong Hai Seafood Viet Imei AQUATEX BENTRESOUTH VINAAn My Seafood JSCNguyen Chi Seafoods Trang CorporationCTE JSCOVina Pride Seafoods CL-FISH CORPHuy Nam Seafoods Co.,LtdHTFOODVINH QUANG FISHERIES CORPCAFATEX CORPHai Wang Seafood Co., LtdKISIMEXOthersTotal
5.113.412.982.852.722.451.841.821.751.431.391.211.051.021.011.011.000.940.920.900.890.870.800.780.760.760.740.680.660.620.610.600.600.580.570.570.550.550.540.520.510.510.490.490.470.450.440.440.430.430.43
0.420.420.400.400.400.400.390.390.390.380.380.380.380.370.370.360.340.340.330.330.330.330.330.320.320.320.320.310.310.310.300.300.300.300.290.290.290.290.290.280.280.270.270.270.260.260.250.240.24
27.74100.00
VIETNAMESE SEAFOOD EXPORTERS IN 2015
CompaniesCompanies Value (US$) Value (US$)Percent-age (%)
Percent-age (%)No. No.
2524
chapter ii: ShriMP ProDucTion anD eXPorTS
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
Vietnam shrimp exports in 2015 hit nearly us$3 billion, down 25.5% year on year. The decline was attributable to dive in export shrimp price amid weakness in importing demand from main markets. Shrimp prices plummeted by 15-20% in international trade as a result of the supply and demand disparity in the u.S., eu and Japan. Vietnam’s shrimp exports in 2015 must confront with many challenges. The export price of Vietnam shrimp fell owing to unfavorable weather condition, low demand from importing markets and currency volatility. Shrimp exports by Vietnam in 2015 reported the year-on-year decline of 25-30%. Vietnam shrimp must face more competition in global market due to rising production of whiteleg shrimp from india and indonesia.
i. proDuction
1. shrimp output and farming area
Brackishwater shrimp production in Vietnam in 2015 was affected by unfavorable weather conditions. Loss in many shrimp farming areas and reduction in raw shrimp price cause farmers lack of capital to invest and renovate their production. contrary to 2013 and 2014, the farming area and ouput of whiteleg shrimp in 2015 slumped while the area and output of black tiger shrimp rose.
- Black tiger shrimp: in the Mekong river Delta, the yield of black tiger shrimp estimated to reach 255,873 MT, up 4% year on year. in which, ca Mau (the province with the largest farming area and production of black tiger in the country) had its area of 262,269 ha (+0.4%) and its production of 107,000 MT (-0.9%). Bac Lieu had its estimated production of 69,256 MT (+13%), Soc Trang with 16,615 MT (+5%), Tra Vinh with 13,955 MT (+3%).
- Whiteleg shrimp: in 2015, whiteleg shrimp farming area estimated to reach 84,000 ha with the yield of 344,600 MT; down 1.8% in area and 3.7% in production on par with 2014. The production of the species in the Mekong Delta in 2015 estimated to touch 218,930 MT, down 9%. in which, Soc Trang (main province of producing vannamei in the country) had the area of 23,597 ha and the yield of 59,200 MT; down 13% and 11%, respectively. Tra Vinh with 21,765 MT (-6%); Ben Tre with 33,500 MT (-21%).
2. the price of raw shrimp
after the reduction in three first quarters of 2015, the raw shrimp price from Sep 2015 to early 2016 inched up 20%.
in the provinces of Bac Lieu, ca Mau, Soc Trang – the main brackishwater shrimp producing area in the Mekong Delta, farmers showed that the price of whiteleg shrimp and black tiger shrimp in all varieties in the late november 2015 increased by VnD10,000-15,000/kg compared to that the early month. The black tiger shrimp price count 20 pc/kg was VnD270,000-280,000/kg, tiger shrimp count 30pc/kg was quoted at VnD200,000-225,000/kg; whiteleg shrimp count 100pc/kg with VnD100,000/kg, shrimp count 75 pc/kg with VnD112,000-118,000/kg.
2726
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
in Dec 2015, in Soc Trang province, the raw whiteleg shrimp price especially large sized shrimp reported the notable rise. Specifically, whiteleg shrimp count 40 pc/kg was quoted at VnD145,000/kg, up VnD15,000/kg on par with the late november, shrimp count 60 pc/kg was priced at VnD125,000/kg (+VnD9,000/kg). From the early Dec up to now, the price of many types of farmed shrimp in ca Mau jumped up. The price of black tiger increased by VnD10,000 – 25,000/kg on par with that in the late november: shrimp count 20 pc/kg increased from VnD250,000/kg to VnD260,000; shrimp count 30 pc/kg rose from VnD175,000 to 190,000/kg. The price of whiteleg shrimp showed the advance: shrimp count 100pc/kg rose from VnD93,000 to VnD105,000/kg; shrimp count 70 pc/kg hiked from VnD115,000 to VnD158,000/kg.
The reason: The hike in brackishwater shrimp price was owing to rising demand of raw shrimp for processing and exporting to eu and the u.S. in the year end holidays and high demand from china. The processors without inventories strengthened to buy raw shrimp with high price for processing and exporting. Besides, due to diseases on shrimp and low shrimp price in a long period of time, many farmers in the Mekong Delta didn’t dare to stock for the year-end crop or reduce their stocking density. This lessened the shrimp supply and raised the price of black tiger and whiteleg shrimp.
ii. exports
1. products
out of total shrimp exports in 2015, the proportion of whiteleg shrimp and marine shrimp increased while that of black tiger fell. Whiteleg shrimp took the largest proportion of 59%. it was followed by black tiger shrimp with 32.6% and the next was marine shrimp with 8.4%. out of whiteleg shrimp products, frozen/fresh/live whiteleg shrimp (hS code 03) was the most exported with the revenue of us$934 million, accounting for 31.6% out of total shrimp exports. Frozen/fresh/live black tiger shrimp (hS code 03) ranked the second with the sales of us$810.4 million, representing 27.4% of the total.
8% 33%
59%
The proportion of exported shrimp in 2015 (Value)
Black Tiger ShrimpWhiteleg ShrimpMarine Shrimp
6% 35%
59%
The proportion of exported shrimp in 2014 (Value)
Black Tiger ShrimpWhiteleg ShrimpMarine Shrimp
2726
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
out of the total shrimp exports in 2015, sales of frozen/fresh/live black tiger (hS code 03) reported the deepest dive of 31.4% year on year. The next was frozen/fresh/live whiteleg shrimp (hS code 03) with the reduction of 28.8%. in terms of marine shrimp exports, exports of 3 items (canned shrimp, other processed shrimp, and dried shrimp) reported the positive growth in which exports of canned shrimp reported the highest growth of 10% with the revenue of uS$7.1 million.
2. markets
in 2015, Vietnam’s shrimp exports accounted for the highest proportion of 44% of total seafood exports, with sales of nearly us$3 billion, down 25.3%. Vietnam shrimp was destined to 95 markets compared to 96 ones in 2014.
Top 10 largest markets included the u.S., Japan, eu, china, South Korea, canada, australia, Taiwan, aSean and Switzerland, representing nearly 95 percent of total shrimp exports. Shrimp exports to 3 main markets saw the year-on-year decline with the u.s. (-38.3%), eu (-19.7%), Japan (-21.4%), china (-15.4%)…
although drastic decline was seen in shrimp exports to main markets such as the u.S., Japan and eu; some single markets witnessed a year-on-year rise. exports to the u.K surged 13.4%, exports to hong Kong upped 8.3%, that to Malaysia increased 3.1%. it is remarkable that demand for warmwater shrimp from the u.K, the largest market of Vietnam shrimp in eu is increasingly high due to the reduction in coldwater shrimp supply with high price.
Demand from main markets reduced while global shrimp price for the year to date has dropped by 30%. The currencies of main importers depreciated, those of Vietnam’s competitors devaluated, the exchange rate between uSD and other currencies fluctuated while the production costs in Vietnam rise. Vietnam shrimp’s competitiveness and its sales in Jan-Sep 2015 significantly was affected by fluctuations in exchange rate of uSD against other currencies.
-24.6-19.0-28.8-30.5-25.0-31.4-4.0
+10.0+0.7+6.6-13.9-25.3
59.0
32.6
8.4
100.0
1,742,407,514808,448,973933,958,541
963,269,716152,864,469810,405,247
246,693,6877,101,610
157,905,6015,778,805
75,907,6712,952,370,917
1
2
3
Whiteleg shrimp- Processed whiteleg shrimp (HS code 16) - Frozen/fresh/live whiteleg shrimp (HS code 03)Black tiger shrimp- Other processed black tiger shrimp (HS code 16)- Frozen/fresh/live black tiger shrimp (HS code 03)Other marine shrimp - canned shrimp (HS code 16)- other processed shrimp (HS code 16)- Dried shrimp (HS code 03)- Frozen/fresh/live shrimp (HS code 03)Total (1+2+3)
SHRIMP PRODUCTS FOR EXPORTS IN 2015
Compared to 2014 (%)2015 (US$) Proportion
(%)No. Products
2928
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
The u.S. remained the top position in importing Vietnam shrimp. in 2015, among total shrimp exports to markets, the proportion of shrimp exported to the u.S. dropped 4.6% from 2014. The proportion of shrimp exported to Japan (the 2nd position in importing Vietnam shrimp) was 1% lower than 2014. however, the proportion to eu (the 3rd position) upped 1.3%.
The proportion of shrimp shipped to china and Korea upped 1.4% and 0.5%, respectively. Vietnam shrimp exporters are increasingly paying attention to asian markets and boosting their exports there.
China11.9%
South Korea8.5%
The U.S22.3%
Japan19.8%
Canada4.7% EU 18.6%
Others14.3%
Importing markets of Vietnam shrimp in 2015 (Value)
China10.5%
South Koera8.0% The U.S
26.9%
Japan18.8%
Canada5.1%
EU 17.3%
Others13.4%
Importing markets of Vietnam shrimp in 2014 (Value)
The U.S.JapanEUThe U.KGermanyThe NetherlandsChinaHong KongSouth KoreaCanada AustraliaTaiwanASEAN SingaporeMalaysiaSwitzerlandOthers TOTAL
-38.3-21.4-19.7
+13.4-21.5-27.3-15.4+8.3
-21.0-31.2-25.3-30.3-11.2
-6.5+3.1
-48.7-2.6
-25.3
-15.5-25.7-22.3+8.4-34.3-17.6
+18.4+26.0-17.5-49.7-26.0-35.7-28.3-23.3-60.3-3.7-9.3
-19.2
205.565158.897145.242
42.78225.76526.593
102.24826.627
71.36735.50429.75612.57112.676
9.0731.071
5.46642.069
821.361
188.767172.430156.968
39.40629.81927.911
94.74824.247
65.33245.90934.90319.59514.38410.072
1.2837.258
40.552840.846
146.381149.198137.817
28.64026.14323.402
75.22621.917
62.89631.99025.89419.28613.678
7.6823.131
11.81042.033
716.209
116.329103.744108.555
19.12928.43616.007
78.14320.886
51.33925.20522.46512.68214.441
9.9162.035
6.19834.853
573.954
657.042584.269548.582129.956110.164
93.913350.366
93.677250.935138.609113.017
64.13455.17836.744
7.52130.732
159.5082,952.371
VIETNAM SHRIMP EXPORTS TO MARKETS (US$mil.)
Variations (%)
Variations (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
2928
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
* The U.S.: Shrimp demand in 2016 is expected to rise
Vietnam shrimp exports to the u.S. in 2015 reached us$657 million, down 38.3% compared to 2014. From Jul to oct 2015, Vietnam’s shrimp sales to the market witnessed month-on-month increase on the back of higher demand for year-end festivals. in particular, shrimp exports in october reached the highest value in the year 2015 with over uS$85 million, only down 4.3% from the same period in 2014.
The dive in shrimp exports to the u.S. in 2015 was owing to pluging export prices, weak demand and strong competition from rivals.
Through nov 2015, the u.S. imported 531,444 MT of shrimp, valued at nearly uS$5 billion, up 2% in volume but down 19% in value.
imports of all product types increased: shell-on tails, including eZ peel, were up 13%; peeled tails were up 12% and cooked tails were up 27%.
2015 saw an increase in the use of larger shrimp (16/20 count size) in the u.S. foodservice. among total shrimp sales by the foodservice, 16/20 count size shrimp accounted for 9% on par with 6% in 2014. 21/25 sizes made up 13% from 10% in 2014. While the sales of smaller shrimp tumbled.
until oct 2015, the average price of shrimp imported into the u.S. reduced from uS$11.82 to uS$9.39/kg, down 20.6% from the same period of 2014. Vietnamese black tiger count 16/20 tumbled 14% from uS$11.3 to uS$9.75/lb in Qiii/2015. Vietnam’s shell-on black tiger count 21/25 downed 30% from uS$7.5 to uS$5.8/lb. indian shrimp with the same type also downed 15% from uS$6.9 to uS$5.85/lb. among asian suppliers to the u.S., Vietnam’s shrimp price got the highest level.
VIETNAM SHRIMP EXPORTS TO THE U.S, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
120
100
80
60
40
20
0
100-10-20-30-40-50-60-70-80
2014 2015 Growth Rate (%)
-53.8
-69.0
-43.4
-48.2
-46.1-39.0
-54.7
-43.0
3.5-4.3
-8.9
-36.5
The world IndiaIndonesiaVietnamEcuadorThailandChinaMalaysia
9.399.569.74
11.157.41
10.486.709.13
11.8212.7512.8413.69
9.9012.65
8.4710.18
-20.6-25.1-24.2-18.6-25.2-17.2-21.0-10.3
AVERAGE PRICE OF SHRIMP IMPORTED INTO US (US$/kg)
Supply Variations (%)Jan-Oct 2014 Jan-Oct 2015
3130
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
For the year to nov 2015, shrimp exporters must compete with shrimp supplied by india and indonesia. india posted the increase of 24% in shrimp volume supplied to the u.S. (nearly 124 thousand MT), indonesia up 12% (106 thousand MT), Thailand up 15% (65 thousand MT) while Vietnam downed 22% with 54 thousand MT. Vietnam was downgraded to the 5th position from the 4th in shrimp volume exported to the u.S.
high production costs of Vietnam shrimp led to its higher price in the u.S. market. Vietnam shrimp pice was 20% higher than those of other suppliers to the u.S. currencies from Vietnam’s rivals (india, indonesia, ecuador, china) devaluated by 15-30% while VnD/uSD was adjusted slightly. This lessened Vietnam shrimp’s competitiveness compared to these suppliers in the u.S. market.
The conclusion in negotiations of the Trans-Pacific Partnership (TPP) and lower duty from Por9 will impact positively on Vietnam shrimp exports to the u.S. in 2016.
on 7th September 2015, uS Department of commerce (Doc) issued the final results of the ninth anti-dumping duty administrative reviews on frozen shrimp imported from Vietnam. The period of review (Por) is from 1st February 2013 to 31st January 2014. Doc imposes average anti-dumping duty of 0.91%, compared to 0.93% in the preliminary results announced in March 2015. This is much lower than final result of Por8, which was 6.37%. This is a good news for Vietnam shrimp exporters. The reduction in antidumping tax helps ease the burden on duty rate imposed on Vietnam shrimp exporters.
in 2016, the uS market expects higher consumption on the back of a strong dollar, lower shrimp prices from previous years and improved uS economy. The retail shrimp promotions in the uS are set to nudge up on the back of falling wholesale prices and shrimp sales by the foodservice rose– the moves lead to higher demand. Vietnam shrimp exporters may take the advantage of the trend to strengthen exporting shrimp to the market.
* EU: Importing demand expected to rise in the early 2016
Shrimp exports to eu in 2015 achieved us$548.6 million, down 19.7% year on year. The year-on-year decline in shrimp exports to eu in the year was attributable that regional economy faced troubles, consumers tightened spending, eur devaluated against uSD and import shrimp price into the market was requested to cut down by european importers.
in 2015, among 3 main importing markets of
VIETNAM SHRIMP EXPORTS TO EU, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
908070605040302010
0
20
10
0
-10
-20
-30
-40
2014 2015 Growth Rate (%)
-16.7
-9.7
-12.4
-27.1-22.4
-25.2
-31.8
-16.4
-25.5
-17.8
-21.5
-15.9
3130
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
Vietnam’s shrimp in the eu bloc, the uK was the only market recording positive growth of 13.4% compared to 2014 due to higher demand for warmwater shrimp caused by lower coldwater shrimp supply with high price. Vietnam shrimp exports to germany and the netherlands respectively showed the decrease of 21.5% and 27.3%.
in 2014, whiteleg shrimp sales to germany made up 58% while black tiger shrimp sales took 34.7%. in Jan-Sep 2015, the proportion of whiteleg shrimp was 73.5% while that of black tiger shrimp was 19.9%. This trend showed that whiteleg shrimp is increasingly favoured in germany. Between 2011 and 2014, germany took the lead in the eu bloc in importing shrimp from Vietnam. in 2014, shrimp exports to the market accounted for 20.5% of the total shrimp exports by Vietnam to eu.
With advantage in producing value added products, Vietnam shrimp exporters have opportunities for raising its market share in the eu market because the market is in high demand for ready-to-eat shrimp, cooked shrimp and finger food.
Due to its weakened currency, europe is not benefiting from the drop in shrimp prices. in early 2016, however, orders from european buyers are expected to increase as they restock their inventories.
in the eu market, ecuador is the main competitor of Vietnam. The free trade agreement between ecuador and eu is expected to come into force by october 2016. ecuador should be the beneficiary in the eu increasing the allowance of raw, farmed shrimp at 0% duty from 30,000 metric tons to 40,000t. The eu’s generalized System of Preferences (gSP) has been extended until the trade deal is put into effect or through by Dec. 31 2016. This means ecuadorian shrimp exporters will continue to enjoy a 3.6% tariff on frozen, uncooked shrimp after the 0% quota on 20,000 metric tons is exceeded, instead of a 12% tariff.
* Japan raised importing shrimp from India and Indonesia
Shrimp sales to Japan-the second largest importer of Vietnam shrimp-hit more than us$584 million, down 21.4% on par with 2014. yen devaluation and economic downturn in Japan detracted Vietnam’s shrimp exports to this market.
The statistics of iTc revealed that, in Jan-nov 2015, shrimp imports into Japan touched 192,5 MT, worth by us$2 billion, down 3.9% in volume and 18.1% in value compared to 2014.
EcuadorVietnamIndiaBangladeshChinaIndonesiaThailand
7,21410,516
8,13212,166
5,90911,57212,425
7,20610,325
8,53012,237
6,77811,77113,179
7,27210,244
8,45112,200
5,70110,76612,577
6,68110,470
8,26310,732
5,77311,24013,436
6,51810,317
8,0379,9885,8939,989
12,282
7,38110,206
8,01711,407
6,52210,75013,429
7,35610,785
8,72711,831
5,93311,26013,698
6,2749,5277,9139,7415,572
10,67411,905
6,4739,8978,052
10,3445,647
10,71011,566
7,92010,106
7,92011,605
5,77210,49212,020
THE AVERAGE PRICE OF SHRIMP IMPORTED INTO EU IN 2015 (US$/MT)
Suppliers Jan Feb Apr Jun AugMar May Jul Sep Oct
3332
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
The decline in shrimp imports was attributable to economic downturn, yen devaluation and reduction in orders by Japanese importers caused by higher import price. With the same amount of raw shrimp, Japanese importers must purchase with twice higher price compared to that of the previous years. The higher price of processed shrimp products also deterred the purchasing power by end consumers due to gloomy outlook of the economy.
according to iTc, Vietnam remained the leading shrimp supplier to Japan. it was followed by Thailand; indonesia and india ranked the third and the fourth position, respectively. Shrimp imports into Japan from Vietnam in Jan-nov 2015 reported the year-on-year slump in both volume and value while shrimp imports from indonesia reported the increase in volume but down in value.
among top 4 largest shrimp suppliers to Japan in Jan-nov 2015, shrimp imports from Vietnam reported the decline of 18.4% while imports from indonesia and india reported the decrease of 12.1% and 19.4%. Japanese importers tend to shift to cheap-priced shrimp supply from india, indonesia amid economic downturn. The shrimp price, particularly whiteleg shrimp in india is expected to rise in the year end due to raw material shortage caused by heavy rain and epidemic.
Vietnam’s shrimp price in Japan in Jan-Sep 2015 reached the highest but reported the deepest dive from Jan-Sep 2014.
* South Korea: Shrimp exports take advantage from VKFTA
Vietnam shrimp exports to South Korea in 2015 attained us$250.9 million, down 21% on par with 2014. The downward trend in shrimp exports to the market was owing to lower importing demand, plunging export prices and currency exchange rate fluctuations.
VIETNAM SHRIMP EXPORTS TO JAPAN, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
908070605040302010
0
0-5-10-15-20-25-30-35-40
2014 2015 Growth Rate (%)
-26.4
-36.1
-16.5
-23.3
-8.0-9.6
-17.9-21.4 -23.5
-27.9-23.5
-25.1
The worldVietnamThailandIndonesiaIndiaChina
10.7911.6810.6511.31
9.758.98
12.3613.7712.3213.1011.2310.09
-12.7-15.2-13.5-13.7-13.2-11.0
THE AVERAGE PRICE OF SHRIMP IMPORTED INTO JAPAN
Suppliers Variations (%)Jan-Sep 2014 Jan-Sep 2015
3332
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
compared to 2014, shrimp exports to Korea in July 2015 reported the biggest drop of 36% and the highest growth of 5.5% in Dec 2015. Dec 2015 is the only month in which shrimp exports to Korea witnessed the positive growth compared to the same month of 2014.
in all months of 2015, shrimp exports to Korea in nov 2015 saw the highest revenue of uS$26 million. From Jul to nov 2015, shrimp exports to the market reported the month-on-month growth. The growth was on the back of rising demand for year-end holidays and positive outlook from the Free Trade agreement between Vietnam and Korea (VKFTa).
according to iTc, in Jan-oct 2015, shrimp imports into Korea reached nearly us$413 million, down 10.3% year on year. Vietnam took the lead in supplying shrimp to Korea, making up nearly 49% of total shrimp imports into the market. china ranked the second with 14%, Thailand was the next with 12%. among top 10 largest shrimp suppliers to the market, shrimp imports from Thailand, ecuador, argentina and Saudi arabia reported the positive growth of 14-74% while imports from others showed the downward trend in which imports from Philippines reported the deepest drop of 54%.
Korea is the 5th largest consumer market of Vietnam shrimp behind the u.S., Japan, eu and china. in 5 years (2010-2014), Vietnam shrimp exports to Korea have been maintaining the positive growth. in 2014, Vietnam overtook china to become the largest supplier of shrimp to the market. While shrimp exports to large markets saw the decline due to low export price, weak demand amid increase in global shrimp supply, Korea is considered an potential alternative market of Vietnam’s shrimp exporters.
it is forecast that shrimp exports to Korea in 2016 will be improved and the competitiveness of Vietnam shrimp in the market will be raised thanks to the advantages of VKFTa.
The FTa between Vietnam and Korea was signed on 5th May 2015 and took effect in Dec 20th 2015. accordingly, Korea committed to clear tax for 10,000 MT of Vietnam shrimp in the first year and 15,000 MT in the next 5 years. Vietnam now enjoys yearly non-tariff quota of 2,500 MT to Korean market out of total quota of 5,000 MT shared by 10 aSean countries. Vietnam shrimp have an advantage over 10 aSean countries (namely Thailand, indonesia, Malaysia). When VKFTa takes effect, Korea will clear tax for 7 hS codes of shrimp products including 0306161090, 3006169090, 0306171090, 0306179090, 0306261000,
VIETNAM SHRIMP EXPORTS TO SOUTH KOREA, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
35
30
25
20
15
10
5
0
0-5-10-15-20-25-30-35-40
2014 2015 Growth Rate (%)
-20.0
-26.2
-13.1
-16.4
-16.4 -13.8
-36.0-30.5
-22.6
-30.3
-19.6
5.5
3534
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
0306271000 and 1605219000. Shrimp is now tariff at 20% to Korean market.
Shrimp consumer tastes of Koreans have many similarities with Japan while Vietnam has experiences in processing of products exported to the Japanese market. This is also an advantage for Vietnam shrimp exporters. With the gradual recovery in its economy, Korea has become a relatively stable market of Vietnam’s fisheries sector, including shrimp in particular amid the reduction in fish catch by the country.
* China: potential altenative market
Shrimp shipment to china in 2015 achieved over us$350 million, down 15.4% from 2014. china remained the 4th position in importing shrimp from Vietnam behind the u.S., Japan and eu.
While shrimp exports to main markets saw the decline, china was the only market to raise shrimp imports from Vietnam in QiV/2015. Shrimp exports to the market in the last 3 months of 2015 reported the positive growth of 9.4% - 28% compared to 2014.
Shrimp imports into china tend to rise in recent years. The increase in shrimp imports can be explained by slump in chinese shrimp domestic supply, which was caused by unfavorable weather and epidemics.
amid decline in shrimp exports to main markets like the u.S., Japan, eu; china is considered as an alternative choice of many Vietnam shrimp exporters. Through Sep 2015, about 35 Vietnamese companies exported their products to the market with key products such as frozen fresh whole black tiger shrimp or peeled, head-off (occupying 30% of the total exports); frozen whole whiteleg shrimp or peeled, head-off (30%) and the rest was processed shrimp, lobster, live mantis shrimp.
china’s shrimp production in 2015 is expected to drop by 25-40% from 2014 and much lower than 2013. china imported raw shrimp for processing mainly from india and ecuador. Vietnam is also a supply of raw shrimp to china.
ecuador is the main competitor of Vietnam in chinese market. in 2015, 50% of ecuador’s shrimp output was exported to china. in 2016, it is expected that china is still an important market of ecuadorian exporters.
VIETNAM SHRIMP EXPORTS TO CHINA 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
60
50
40
30
20
10
0
100806040200-20-40-60
2014 2015 Growth Rate (%)
79.1
-25.7
-15.9
-45.9
-41.9-46.1
-7.3-23.4
-18.9
28.022.39.4
3534
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
Shrimp demand from china is still high while its domestic shrimp supply reduced to 600,000 MT in 2015 from 900,000 MT in 2010. china is still a potential market of Vietnamese exporters on the back of lower production and high demand for imported shrimp from chinese middle class.
* ASEAN
Vietnam shrimp exports to aSean in 2015 reached more than us$55 million, down 11.2% year on year. in the bloc, shrimp exports to Malaysia stayed up 3.1%.
The aSean economic community (aec) has been established since December 31st 2015. This event is a great opportunity for seafood enterprises, including shrimp enterprises to promote seafood exports inside and beyond the region. The establishment of aec will create a common market and remove barriers in services and capital for goods trading. aSean members enjoying the same preferential tax will compete with each other by quality and value added in products.
Despite being a potential market, aSean market has not received much attention from enterprises. Therefore, Vietnam shrimp exporters should consider expanding consumer markets, avoid depending on some traditional markets.
3. top shrimp exporters
in 2015, top 5 largest shrimp exporters in Vietnam included Minh Phu SeaFooD corP, STaPiMeX, Quoc VieT co., LTD, FiMeX Vn and Vina cLeanFooD; making up 13.6% of total seafood export turnover and 30.3% of total shrimp export turnover by the country.
Minh Phu corp took the lead, making up 11.6% of Vietnam’s total shrimp revenue and mainly exporting its products to the u.S. although the company’s revenue in 2015 reported a year-on-year decline of 33.2%; Minh Phu corp was ranked the 50 position in the world’s 100 largest seafood companies (according to the Journal undercurrent).
MINH PHU SEAFOOD CORPSTAPIMEXQUOC VIET CO., LTDFIMEX VNVINA CLEANFOOD
11.66.75.54.22.3
5.23.02.51.91.0
-33.2-20.3-22.6
-9.3-18.5
511,007,605249,374,500211,078,371135,871,663
83,191,711
341,319,100198,858,564163,428,780123,188,691
67,776,401
12345
TOP 5 LARGEST SHRIMP EXPORTERS OF VIETNAM IN 2015
EXPORTERSNo.
Proportion in total shrimp
exports (%)
Proportion in total seafood
exports (%)
Compared to 2014
(%)Value 2014
(US$)Value 2015
(US$)
3736
CHAPTER II SHRIMP PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
iii. shrimp imports
in 2015, Vietnam sourced shrimp from 37 countries with the import value of us$426 million, down 10.7% year on year. india has been the largest supplier of raw shrimp to Vietnam with the value of uS$318 million, down 7.8% from 2014 and made up 74.7% of Vietnam’s total shrimp imports.
Whiteleg shrimp and black tiger shrimp under the form of frozen/fresh/live (hS code 03) was the main items imported into Vietnam with the respective rate of 66.3% and 20.6% out of total shrimp imports. Whiteleg shrimp accounted for the largest rate of 68% while 21% was for black tiger shrimp.
VietnamThailandIndonesiaSingaporeMalaysiaMyanmarPhilippinesBrunei EU The UKBelgiumDenmarkFranceSpainAustriaThe USChinaJapan
India
EcuadorArgentinaCanadaAustraliaPakistanRussiaGreenlandAntigua & BarbudaBangladeshSaudi ArabiaMexicoIsraelMozambiqueHondurasSouth KoreaIranTaiwanNorwaySouth Africa
Total
-13.7+38.1+14.3
-68.9-7.3
-56.9-85.3-35.0-93.0+8.0+7.2
-59.0-51.7
+185.9
+20.3+20.7
-88.6-10.4
-7.8
-40.2-12.1+4.1
+114.8-29.6-10.1-69.1
-79.9+93.5+84.1
-85.6-21.1
-93.6-55.4
+22.4
-10.7
13.58.22.41.50.90.30.20.1
0.0011.91.70.10.1
0.0050.0020.002
1.40.1
0.0183.274.7
3.22.11.00.90.50.20.10.10.10.10.10.1
0.040.040.030.02
0.0040.003
0.0001
100.0
57,399,06134,827,64610,399,159
6,327,3763,631,0671,244,489
667,431299,193
2,7007,941,651
7,263,051421,448221,438
19,2049,6616,705
5,891,269265,063
27,786354,406,300
318,011,123
13,506,4588,835,5054,406,2373,829,2982,022,688
838,762533,864434,979366,340356,034337,500325,000178,580149,891138,283103,844
18,11913,295
500
425,931,443
12345678
91011121314151617
18
19202122232425262728293031323334353637
SHRIMP IMPORTS INTO VIETNAM IN 2015
Origin OriginValue (US$) Value (US$)No. No.Propor-
tion (%)
Propor-tion (%)
Com-pared
to 2014 (%)
Com-pared
to 2014 (%)
ASEAN
EU
Others
3736
chapter iii:PangaSiuS ProDucTion anD eXPorTS
3938
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
i. proDuction
- Since oct 2015, the pangasius farming area in Vietnam tend to decrease because farmers who raise on the small scale faced loss and the raw pangasius price fell under VnD20,000/kg. Many farmers shifted to raise pangasius to sell to processors under the contract signed between them. The pangasius production was stable because farmers operated under production chain.
- Through nov 2015, the raw pangasius trade in the Mekong Delta provinces remained to be quiet. in can Tho province, the purchasing price of raw pangasius slightly fell to VnD19,000-19,500/kg (deferred) compared with VnD19,500-19,700/kg in the late october. in Dong Thap, the purchasing price of raw pangasius count 600-700gram/pc remained at VnD19,500-19,700/kg. in an giang, the raw pangasius price was at low level of VnD18,000-19,500/kg.
- in Dec 2015, the raw pangasius price in the Mekong Delta increased by VnD400/kg on par with the previous month. in can Tho province, the purchasing price of raw pangasius sized 600-800 gram/pc was VnD19,500-20,000/kg (deferred); in Dong Thap, the price of the fish with the same size was VnD19,300-20,000/kg (deferred); in an giang, the price was VnD17,500-19,000/kg.
- up to now, importing demand from 3 main markets (the u.S., eu, aSean) was still low which affected to enterprises’ processing, trading and exporting. accordingly, processors can’t raise their processing capacity. This contributed to explain for the reduction in raw pangasius price.
Mekong DeltaTien GiangBen TreTra VinhVinh LongDong ThapAn GiangKien GiangCan ThoHau GiangSoc Trang
5,542177711
18430
1.9001.217
11831147100
5,623111730
10444
2.0711.233
2837113
71
10163
10358
103109101
18101
7771
1,118,67431.039
159.2048.958
81.191396.658233.581
7.580142.866
34.48023.117
1,123,00434.500
173.9184.580
79.363375.277248.604
6.102153.140
34.52013.000
100,4111109
519895
10681
107100
56
VIETNAM PANGASIUS FARMING AREA AND OUTPUT IN THE MEKONG DELTA IN 2015
Area (ha)Production (MT)
Area (ha)
Production (MT)
Area (ha)
Production (MT)
2014 2015 2015/2014 (%)
Source: MARD
3938
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
ii. exports
1. the structure of exported products
- Pangasius (hS code 03) accounted for 99.1% of the total pangasius exports while processed pangasius (hS code 16) took 0.9%.
2. importing markets:
- in 2015, Vietnam pangasius exports hit us$1.56 billion, down 11.5% from 2014. Top 8 largest importers included the u.S., eu, china, aSean, Mexico, Brazil, Saudi arabia and colombia, making up 76.1% of the total export value.
- among top 8 largest importing markets, exports to 6 markets saw the decline: the u.S. (-6.3%); eu (-17.2%); aSean (-0.8%); Mexico (-16.8%); Brazil (-36.8%) and colombia (-16.5%). on the other hand, the year-on-year increase in pangasius exports was seen in the following markets: The u.K (+13.9%); china – hong Kong (+42.7%) and Saudi arabia (+4.2%).
Pangasius HS code 03 (1)- Dried/frozen/fresh/live pangasius (HS code 03, except for HS code 0304)- Pangasius (HS code 0304)Other processed pangasius HS code 16 (2)Total (1 + 2)
99.1
0.9100.0
1,550,800,424114,439,774
1,436,360,64914,369,185
1,565,169,608
Products Value (US$)
Proportion (%)
PANGASIUS PRODUCTS FOR EXPORT IN 2015
4140
The U.S.EUThe NetherlandsSpainThe U.KGermanyChinaHong KongASEANThailandSingaporePhilippinesMexicoBrazilSaudi ArabiaColombiaOthers Total
-6.3-17.2-12.6-34.7
+13.9-25.0
+42.7-16.4-0.8
+8.0-4.7-2.4
-16.8-36.8+4.2-16.5-20.4-11.5
-14.1-20.5-29.1
-4.7-2.3
-12.5+29.2
-25.4+0.6
+18.8-2.4-2.9
-24.5-18.2-14.3-36.9-29.3-17.3
82.42566.20810.40111.26710.402
8.23246.528
8.82134.09611.644
9.4837.376
30.65723.74814.32813.22195.567
406.779
74.02176.29412.94913.48211.264
6.77744.795
8.83932.06611.077
9.4125.798
26.40127.76316.21518.23292.607
408.394
81.04874.37214.97512.17312.561
7.22640.157
8.90735.66613.603
8.3816.919
11.96122.96418.680
9.79698.502
393.146
78.00168.22613.01610.37912.342
7.61030.042
7.30333.60310.727
8.9757.653
26.8203.247
12.31917.26587.328
356.851
315.496285.101
51.34147.30246.56829.846
161.52233.870
135.43047.05236.25127.746
95.83977.72161.54258.514
374.0051,565.170
VIETNAM PANGASIUS EXPORTS TO MARKETS IN 2015 (US$ mil.)
Variations (%)
Variations (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 20154140
- Pangasius exports to almost main markets encountered obstacles such as weak consuming demand, low price and strict requirements on quality and food safety. Pangasius sales to the u.S. and eu – two largest markets – reported the continuous slump since the early 2015.
2.1. The U.S.
- Vietnam pangasius exports to the u.S. reached us$315.5 million, down 6.3% from 2014. The u.S. is the largest importer of Vietnam pangasius with the proportion of 20.2% out of the total pangasius exports.
- import value of frozen pangasius into the u.S. ranked the 6th in total frozen seafood imports into the market behind shrimp (hS 030617), salmon (hS 030641-81), crab (hS 030614), tilapia (hS 030461) and lobster (hS 030612-22). however, in 2015, pangasius products must strongly compete with tilapia and cod products in the u.S. market.
- according to statistics of Fao, in the first 4 months of 2015, import price of frozen pangasius fillet in the u.S. market reached uS$3.2 – 3.25/kg. Since May 2015, the price of the product reduced to uS$3.1/kg. in 5 months later, the price continued to plummet and touch uS$2.8/kg in oct 2015.
- notably, in Jan-oct 2015, import value of chilled/fresh pangasius and catfish into the u.S. from china showed surprising increase.
Arab Saudi 3.9%
Brazil 5.0%
ASEAN8.7%The U.S
20.2%
EU 18.2%
Mexico 6.1%
Others38.0%
The importing markets of Vietnampangasius, 2015 (Value)
2000
1500
1000
500
02011 20132012 2014 2015
US$ Mil.
Pangasius export value,2011 - 2015 (Value)
VIETNAM PANGASIUS EXPORTS TO THE U.S, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec%
50
40
30
20
10
0
60
40
20
0
-20
-30
2014 2015 Growth Rate(%)
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
- in the u.S. market, Vietnam pangasius exporters are now competing strongly with whitemeat fish exporters from china. Through nov 2015, china was the largest supplier of white fish to the u.S., representing 30.6-63% of the total imports of white fish into the market.
Reasons for decline in pangasius exports to the U.S:
(1) Higher duty rate
- on Jan 8th 2015, the u.S. Department of commerce (Doc) announced the final result of the tenth antidumping duty administrative reviews (Por10) from august 1, 2012 to July 31, 2013 on certain frozen pangasius fillets imported from Vietnam. although Vietnam exporters have made many arguments to convince Doc, Doc issued the duty rate of nearly uS$1/kg that is unfair and unreasonable.
- on Sep 14th 2015, Doc issued the preliminary decision of the 11th antidumping duty administrative reviews (Por11) from august 1, 2013 to July 31, 2014 on certain frozen pangasius fillets imported from Vietnam. accordingly, the duties for two mandatory respondents (hung Vuong corP and TaFiShco) were uS$0.36/kg and uS$0.84/kg, respectively. 16 voluntary respondents in this period of review were subjected to the rate of uS$0.6/kg. Despite lower duty rate compared to that of Por10, Vietnam pangasius exporters find it hard to export their products to the u.S..
Because Doc needs additional time to analyze the issues raised in case briefs, final result of Por11 has not been completed by the deadline of January 14,2016. Therefore, Doc recommends extending the time period for issuing the final results of the review by 60 days, until March 12, 2016. however, because March 12,2016 falls on a weekend, the final result are now due no later than March 14, 2016.
4342
IMPORTS OF FROzEN PANGASIUS FILLET INTO EU FROM VIETNAM
IMPORTS OF FRESH/CHILLED CATFISH, PANGASIUS INTO THE U.S.
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 20154342
(2) Down in import price into the U.S.
- in the early months of 2015, uS dollar strengthened. This made importers limit their purchasing power and request suppliers to reduce selling price. Pangasius exports to the u.S. were affected by the decrease in import price. in Qi, Qii, Qiii of 2015, import price of pangasius and catfish into the u.S. was in the range of uS$3.02-3.45/kg; however, in the last quarter, the price fell to uS$2.85 -2.9/kg.
(3) Strong competition from tilapia
- Besides higher antidumping duty rate, Vietnam pangasius exporters must compete strongly with chinese tilapia. Demand for tilapia in the u.S. market is rising while import price of the product also plummeted. This is one of reasons causing pangasius to lose its market share in the u.S. market
(4) Impact from catfish inspection program
- on nov 25th 2015, the Food Safety and inspection Service (FSiS) informed to implement catfish inspection program on pangasius imported into the u.S.. The rule started to come into force by March 2016 (90 days after being published in the Federal register). effective timeline is also the start of the transition period of 18 months for the producers in the country and abroad.
2.2. EU
- in 2015, Vietnam pangasius exports to eu touched us$285.1 million, down 17.2% year on year and representing 18.2% of total exports. among 4 largest importers in the eu bloc, only exports to the u.K picked up 13.9% while exports to 3 other markets took a dip: the netherlands (-12.6%), Spain (-34.7%) and germany (-25%).
- in all 12 months of 2015, pangasius export value to eu reported the year-on-year decline of 1 – 34.5%. The netherlands was the biggest importer of Vietnam pangasius with the proportion of 3.3% out of total exports. The netherlands and the u.K are two largest importers of processed, value added pangasius in the eu bloc.
Frozen fillets, TilapiasFrozen fillets, CodFrozen fillets, CatfishFresh, chilled fillets: TilapiasFrozen fillets, Alaska PollackFrozen fillets, HaddockFrozen TilapiasFresh or chilled HaddockFresh or chilled Hake
35,918,718,5
8,16,175,083,681,240,59
34,219
16,910,37,354,823,590,890,42
35,917,316,811,3
7,14,73,2
1,190,22
36,818,6
1510,67,383,773,681,190,01
35,817,918,711,15,823,323,860,590,24
36,116,9
2011,36,693,132,940,210,62
29,219,421,212,76,683,743,150,040,44
22,113,329,916,45,932,963,660,080,82
36,716
16,310,75,286,26
3,40,220,27
40,415,916,69,795,515,792,770,370,24
42,313,917,68,054,875,712,990,520,32
030461030471030462030431030475030472030323030252030254
WHITE FISH PRODUCTS IMPORTED INTO THE U.S., JAN-NOV 2015 (%)
NovOctSepAugProducts Jan MayMar JulFeb JunAprHS code
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
- according to Fao, in Jan-Sep 2015, eu imported about 8,000-9,000 mt of frozen pangasius fillet per month. in the first two quarters of 2015, the import volume was lower but average import price was higher than those of the same period of 2013-2014. notably, in apr-May 2015, the average import price increased to 2.2-2.45 eur/kg.
- currently, both importing demand and import price of pangasius into eu are standstill. Vietnam pangasius must compete strongly with white fish products in the market like cod, alaska Pollock, hake. in the last 3 months of 2015, import volume of frozen pangasius fillet by eu plunged but that of white fish, particularly cod was stable or higher.
* The Netherlands:
- Pangasius exports to the netherlands in 2015 achieved us$51.3 million, down 12.6% from 2014 and occupying 3.3% of the total pangasius exports.
- This is the largest importer of value added products such as skewed pangasius roll salmon with chili pepper, pineapple and tomato; breaded pangasius fillet, pangasius fillet seasoned with mustard and dill.
- in Qi/2015, export value of pangasius to the netherlands reported the year-on-year decrease of 15-19%. in Qii/2015, exports to the market showed the growth of 1.2-15%; however, exports in Qiii/2015 witnessed the reduction of 26.8-30.9%.
* Spain
- in 2015, the value of pangasius exports to Spain reached us$47.3 million, accounting for 3% of total exports, down 34.7% from 2014. The market is the 2nd largest importer
4544
IMPORTS OF FROzEN PANGASIUS FILLET INTO EU FROM VIETNAM
VIETNAM PANGASIUS EXPORTS TO THE EU, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
40353025201510
50
1050-5-1-15-20-25-30-35-40
2014 2015 Growth Rate (%)
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 20154544
of Vietnam pangasius in the eu.
- in Jan-oct 2015, Vietnam was the 5th largest supplier of white fish to Spain (after russia, norway, the u.S. and iceland). Pangasius and catfish ranked the 4th among total imports of white fish into the market.
- imports of frozen cod fillet, frozen alaska Pollock fillet into Spain accounted for 59 - 78% of total imports of white fish with the monthly growth of 10-13%. however, import value of pangasius and catfish into Spain was unstable with imports in Qiii downed 7-30% from those of the first two quarters of 2015.
- according to eurostat, in Jan-aug 2015, pangasius imports only made up the small proportion among total seafood imports by the country. Spanish importers in 2015 tend to like shrimp products (hS 0306), the next is cephalopod (hS 0307) and some products such as salmon, tuna, sardine and some white fish products like hake (hS 0302 - 0304); cod (hS 0304). Pangasius and catfish ranked the third with the proportion of 8-10% in the total imports of fresh/chilled/ frozen fish fillet.
* The U.K
- in 2015, Vietnam pangasius exports to the u.K recorded the year-on-year growth of 13.9% to reach us$45.56 million, occupying 3% of the total pangasius exports. This is a potential market of Vietnam pangasius exporters in eu.
- in 2015, the average import price of catfish and pangasius into the u.K reached the highest level in the european region with the range of uS$3.11 – 3.82/kg, higher than those of other “high price” markets namely germany, Belgium, Finland, France. high export price to the u.K market may be a reason for the positive growth in Vietnam pangasius exports to the u.K market from the early 2015 to Qiii/2015.
- Pangasius imports from Vietnam accounted for about 87-93% out of the total pangasius and catfish imports into the u.K.
- in 2015, the u.K remained the stable volume in importing some white fish, particularly frozen cod fillets (hS 030471). in addition, the u.K also imported other products such as haddock fillet (hS 030472); frozen alaska Pollock fillets (hS 030475); fresh, chilled haddock (hS 030252).
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
2.3. China
- in 2015, china imported us$161.5 million of pangasius from Vietnam. Vietnam pangasius exports to the market reported the highest growth of 42.7% from 2014.
- The significant growth in pangasius exports to china in the first two quarters of 2015 was attributable to 3 following reasons:
(1) amid difficulties in exports to some large markets namely the u.S., eu, aSean, Mexico, Brazil; Vietnam exporters shifted to export to china.
(2) consumer demand of pangasius from china rose and chinese processors raised importing raw pangasius to process and export to the u.S..
(3) To remain the sustainable development of domestic fisheries sector including marine catch, the chinese government has issued some policies to boost seafood imports. This encourages chinese enterprises to strengthen their fish imports.
4746
VIETNAM PANGASIUS EXPORTS TO CHINA & HONG KONG, 2014 - 2015
US$
Mil.
Jan JulApr OctJun AugMay NovMar SepJun Dec%
20
15
10
5
0
100
80
60
40
20
0
2014 2015 Growth Rate (%)
Frozen cod filletHaddock filletFrozen Alaska Pollock filletFresh/chilled HaddockFrozen codFrozen catfish, pangasius filletChilled, fresh cod Frozen Haddock Frozen tilapiaFrozen Hake filletFrozen Hake Frozen tilapia filletFrozen meat, whether or not minced, Alaska PollockFresh or chilled Catfish and pangasiusFrozen Catfish and pangasius
030471030472030475030252030363030462030251030364030323030474030366030461030494030272030324
350,83282,20548,62635,35036,98631,88428,03619,992
3,3097,6681,7893,6803,8513,2381,351
123,46133,61818,83811,26114,388
9,9899,3288,9961,0454,141
4791,1781,6041,306
470
118,27625,19510,69612,07611,14810,584
9,7606,134
7922,140
881,2861,0461,115
287
109,09523,39219,09212,01311,45011,311
8,9484,8621,4721,3871,2221,2161,201
817594
IMPORTS OF SOME WHITE FISH INTO THE U.K (US$ thousands)Source: ITC
QI-QIII/2015Products QI QII QIIIHS code
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 20154746
2.4. ASEAN
- in 2015, Vietnam pangasius sales to aSean touched us$135.4 million, down 0.8% from 2014. exports to Thailand – the leading importer of Vietnam pangasius in the aSean bloc – surged 8%; exports to Singapore downed 4.7% and Philippines downed 2.4% compared with 2014.
- Vietnam pangasius must compete with alaska Pollock, cod, tilapia (hS 0303) in Thailand market.
2.5. Mexico
- in 2015, Vietnam pangasius value sold to Mexico reached us$95.8 million, down 16.8% from 2014.
- according to the statistics of iTc and the national institute of Statistics and geography (inegi), Vietnam is the third largest supplier of seafood to Mexico (behind china and chile).
ASEANSingaporeThailandMalaysiaBruneiCambodiaIndonesiaMyanmarLaos
78
21-22292927-69
1,900-79
81,09135,11529,02216,634
12011
1321
56
86,66037,95135,12412,929
470113
412012
54,90233,85918,557
---
2,434-
52
PANGASIUS, CATFISH IMPORTS INTO ASEAN (US$ thousands)
Markets Compared to 2013 (%)2012 2013 2014
PANGASIUS EXPORTS TO ASEAN, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
16141210
86420
30
20
10
0
-10
-20
-30
2014 2015 Growth Rate (%)
Frozen codFrozen Alaska Pollock Frozen Haddock Frozen catfish and pangasius Frozen Hake Frozen Alaska Pollock filletAlaska Pollock meatFrozen CatfishFrozen Cod fillet
030363030367030364030462030366030475030494030324030471
368,747642,268
74,16422,76815,643
5,8176,5022,6711,019
109,744281,032
29,5604,9761,655
6432,027
638297
145,595254,477
27,2516,4073,4151,8402,277
679372
113,408106,759
17,35311,38510,573
3,3342,1981,354
350
IMPORTS OF WHITE FISH INTO CHINA, QI-III/2015 (US$ thousands)
QI-QIII/2015Products QI QII QIIIHS Code
CHAPTER III PANGASIUS PRODUCTION AND EXPORTS
Report on Vietnam Seafood Exports in 2015
- Vietnam pangasius is facing strong competition from chinese tilapia in Mexico market. chinese suppliers are implementing many campaigns of seafood advertisement and trade promotion in Mexico - the biggest seafood consumer market in the north america.
- in Mexico market, chinese exporters boosted exporting frozen tilapia fillet while chile exporters intensifying exporting salmon, tooth fish, mollusk (hS 0307). Besides pangasius from Vietnam, Mexico importers are favoring tilapia from china; salmon, tooth fish and mollusk from chile.
3. pangasius exporters in 2015
in 2015, Vietnam had 130 pangasius exporters. Top 5 largest exporters included Vinh hoan corp, hung Vuong corp, navico, i.D.i corp and agifish fetched uS$543 million from pangasius sales, representing 34.8% of the total pangasius exports by the country. almost companies reported the decline in pangasius sales, except for Vinh hoan corp posting the growth of 10%.
4948
VINH HOAN CORPHUNG VUONG CORPNAVICOI.D.I CORPAGIFISH
VINH HOAN CORPHUNG VUONG CORPNAVICOAGIFISHBIENDONG SEAFOOD
227,593,26995,693,65693,099,02867,506,40859,265,007
3.411.431.391.010.89
2.651.781.391.080.97
11.77.96.14.84.3
14.56.15.94.33.8
207,471,554139,783,557109,113,042
84,609,65476,038,426
12345
TOP 5 LARGEST PANGASIUS EXPORTERS, 2014 – 2015
Companies Value (US$)
Value (US$)
20142015
CompaniesNo.
Proportion in total seafood
sales (%)
Proportion in total seafood
sales (%)
Proportion in total
pangasius sales (%)
Propor-tion in total
pangasius sales (%)
PANGASIUS EXPORTS TO MEXICO, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
16
14
12
10
8
6
4
2
0
100806040200-20-40-60-80
2014 2015 Growth Rate (%)
4948
chapter iV:Tuna eXPorTS
CHAPTER IV TUNA EXPORTS
Report on Vietnam Seafood Exports in 2015
Vietnam tuna exports in 2015 valued us$455 million, down 6% year on year. exports have not found recovery as tuna world prices remain at a lower level than last year. Besides, capture output in 2015 was rather low, due to effects of el nino.
i. tuna proDucts for exports
- Vietnam exported both processed tuna and tuna dried/frozen/fresh/live. in 2015, the proportion of dried/frozen/fresh/live tuna rose to 54% of total tuna exported while percentage for processed tuna decreased.
- Tuna loin was the most exported product, taking up nearly 45%, followed by canned tuna with over 33%.
- in 2015, exports of other processed tuna and frozen tuna loin grew from the level in 2014, while exports of the other saw a fall. in 2015, export of processed tuna was down by more than 10%. exports of tuna frozen/fresh/live, on the other hand, got higher and higher as it came to the year end. Tuna frozen/fresh/live export value was 2.3% lower than the previous year.
ii. maJor importing marKets
- in Q.iV/2015, Vietnam tuna exports surpassed us$113 million, down 6.6% year on year. Total value of tuna exports in 2015 reached nearly us$455 million, down nearly 6% over the same period of 2014. Vietnam’s tuna products were destined to 107 markets around the world, more than in 2014.
- Vietnam’s tuna exports to aSean countries continued to go up. This market is the third biggest one for Vietnam tuna exports. in contrast, tuna exports to the eu maintained downward trend.
- it is noted that in 2015, there was a surge in tuna exports to russia. Starting as a small market for Vietnamese tuna sector in 2014, now russia is the 8th largest importing market.
Processed tuna HS code 16 (1)Canned tuna (HS code 16)
Other processed tuna (HS code 16)
Tuna HS code 03 (2)Dried/frozen/fresh/live tuna (HS code 03, ex. HS code 0304)
Tuna (HS code 0304) (ex. fish paste and surimi)
Total tuna exports (1 + 2)
-10.1-15.0
5.8
-2.3
-26.5
5.1
-6.0
45.9033.06
12.85
54.10
9.49
44.60
100.00
208,849,526150,398,750
58,450,776
246,122,926
43,185,413
202,937,513
454,972,451
232,290,169177,017,676
55,272,492
251,944,395
58,764,847
193,179,548
484,234,564
Product
EXPORTED TUNA PRODUCTS BY VALUE (Unit: US$)
2015 2014Proportion
(%)Compared
to 2014 (%)
5150
CHAPTER IV TUNA EXPORTS
Report on Vietnam Seafood Exports in 2015
- in the past 4 years, Vietnam tuna exports tend to decrease. The reason is the drop in prices in the world market. Prices declined and competition became fiercer. Tuna found it hard to compete with indonesia, the Philippines and ecuador in terms of price.
1. the us
- after a growth in october, tuna exports from Vietnam to the uS fell in november and December. The amount decreased was not much, therefore, QiV/2015 reported a nearly 3.7% year on year growth to exceed uS$48.8 million. Vietnamese companies earned a total revenue of more than uS$190 million from tuna exports to the uS, up 8.5% compared to 2014. The uS continued to be the largest market for tuna from Vietnam.
- in 2015, the uS increased imports of frozen tuna loin from Vietnam, to over uS$101.7 million, up nearly 51% compared to 2014. Besides, exports of other processed tuna from Vietnam to the uS increased by almost 58%. exports of other items, nonetheless, declined.
The USThe EUGermanySpainItalyASEANThailandJapanIsraelCanadaMexicoRussiaOthersTotal
+8.5-28.0-27.4
+37.6-40.5+9.7
-5.1-9.5
-16.9-17.0
+90.3+29.7
-10.4-6.0
+3.7-39.8-57.2
+164.1-44.2
+12.7-20.1
+18.7+34.6
-6.5+102.5
-42.6+2.6
-6.6
48.80420.871
4.0294.9142.734
10.4296.058
4.4733.9492.7683.4101.082
17.461113.247
48.40322.124
6.4512.2883.008
10.8925.959
6.2635.3983.1871.9241.969
16.840117.000
54.88126.144
7.4843.1983.717
8.4466.124
5.6854.3851.9761.4350.912
16.551120.415
38.07628.236
9.4294.1432.778
8.5997.553
4.0063.6172.0002.6201.369
15.788104.310
190.16497.37527.39314.54312.237
38.36625.694
20.42617.349
9.9319.3905.332
66.639454.972
VIETNAM TUNA EXPORTS TO MARKETS (Unit: US$ millions)
Compared to 2014 (%)
Compared to QIV (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
ASEAN 8%
Israel 4%
Canada 2%
Japan 4%
EU 21%
The U.S42%
Others18%
Markets for Vietnam tuna exports in 2015 (Value)
Japan 5%
ASEAN 7%
Israel 4%
Canada 2%
EU 28%
The U.S36%
Others17%
Markets for Vietnam tuna exports in 2014 (Value)
5150
CHAPTER IV TUNA EXPORTS
Report on Vietnam Seafood Exports in 2015
- By the end of october, uS tuna imports declined in both value and volume compared to 2014. The uS imported was nearly 222 thousand MT of tuna, with value of more than uS$1.2 billion. This showed a 4% decline by value and 5% fall by volume.
- canned tuna, though still remaining as a major imported product, was getting less imported. imports of tuna loin, on the other hand, increased.
- Statistics from international Trade centre revealed that the uS sourced tuna from 62 countries. Thailand was the biggest source, accounting for over 27% of the uS market share. it was followed by indonesia with 11% and Vietnam with 9.8%. in 2015, while exports of Thailand to The uS declined, exports of indonesia and Vietnam were on the rise.
2. EU
- in Q4/2015, tuna exports to eu continues the declining trend. The total tuna exports to the market in the last 3 months of the year valued nearly us$20.9 million, down nearly 40% over the same period of 2014. in total, Vietnamese companies
TUNA EXPORTS TO THE U.S, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
25
20
15
10
5
0
105
70
35
0
-35
-70
2014 2015 Growth Rate (%)
WorldThailandIndonesiaVietnamEcuadorChinaPhilippinesFijiSri LankaMauritiusMexico
100.027.111.0
9.88.87.36.95.23.12.62.1
-4.1-15.425.211.0
6.2-6.2
-23.713.212.5-2.3
-16.2
1,269,607343,729140,227124,619111,209
93,28588,12466,38439,11232,88126,718
TOP 10 TUNA EXPORTING COUNTRIES TO THE US, JAN- OCT 2015 (Unit: US$ thousands)
Origin Market share (%)Jan - Oct 2015 Change (%)
TUNA EXPORTS TO THE EU, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
20
16
12
8
4
0
0
-14
-28
-42
-56
-70
2014 2015 Growth Rate (%)
5352
CHAPTER IV TUNA EXPORTS
Report on Vietnam Seafood Exports in 2015
earned a revenue of nearly uS$97.4 million from tuna exports to the eu, down 28%.
- Spain was the only one among Vietnam’s 3 largest tuna importing markets in the eu to report increases. in the last months of the year, after Thailand was banned from exporting to this market and Turkey had trouble with iuu fishing, Spanish tuna imports from Vietnam sharply increased, resulting in a 164% growth in QiV/2015 to touch uS$4.9 million.
- in 2015, eu imports of live/fresh/frozen tuna from Vietnam sky-rocketed by 223% to more than uS$13.7 million. in contrast, imports of processed tuna and tuna loin fell.
- eu imports of tuna from countries mostly fell. in first 8 months of 2015, eu tuna imports valued uS$2.75 billion, down 15% year on year. The market imported tuna from over 70 countries worldwide. Vietnam ranks the 10th, after ecuador, Thailand, Philippines and indonesia.
- in 2015, eu tended to reduce imports of fresh tuna and increase processed tuna and loin.
- yellowfin, fresh or chilled, excl heading no 03.04, livers and roes has been experiencing a good growth in exports. Vietnamese price offered for this product in eu is higher than the Philippines.
3. Japan
- in QiV/2015, tuna exports from Vietnam to Japan was on recovery. Tuna exports from Vietnam to Japan in the last 3 months of the year touched us$4.5 million, up 18.7% year on year. This increase, however, is not enough to compensate for the decline in earlier months. Vietnam tuna exports to Japan in the whole year of 2015 valued uS$20.4 million, down 9.5% year on year.
- in 2015, exports of processed tuna from Vietnam to Japan had good growth with an increase of nearly 16%. Meanwhile, exports of fresh/live/frozen tuna dropped. canned tuna exports increased by 86%, reaching nearly uS$3.4 million. in addition, exports of tuna loin were also up by nearly 12% compared to 2014.
WorldEcuadorMauritiusSeychellesThailandPhilippinesGhanaIndonesiaPapua New GuineaCôte d’IvoireVietnam
100.011.6
6.96.45.45.04.23.13.12.72.6
-15.3-17.8-16.3-21.7-39.0
-8.45.7
-0.60.8
-18.00.7
2,750,428320,379189,240176,882148,615136,657114,376
86,55586,05575,36370,356
3,248,361389,948225,976225,928243,592149,250108,194
87,06785,36791,95169,833
TOP 10 TUNA EXPORTING COUNTRIES TO THE EU, JAN- AUG 2015
Origin Propor-tion (%)2014 2015 Change (%)
Value ( US$ thousands)
5352
CHAPTER IV TUNA EXPORTS
Report on Vietnam Seafood Exports in 2015
- in 2015, Japan imported tuna from 60 countries worldwide. Tuna shipments from all sources increases but the depreciation of the yen affected the tuna imports, making import value lower. From January to november 2015, Japan imported over 270 thousand MT of tuna, with the value of more than uS$1.7 billion, up 3.3% by volume and down 9.3% in value.
- Taiwan remained as the largest tuna supplier to Japan. in terms of volume, Vietnam is currently ranked the 13th in the top list of tuna exporters to Japan.
- From January to november 2015, Japan enhanced imports of canned processed tuna while reducing imports of fresh/frozen tuna. imports of canned skipjack and frozen skipjack increased over the same period of 2014 while imports of yellowfin tuna decreased.
iii. top tuna exporters
Top 5 tuna exporters in 2015 totaled revenue of us$253.7 million, accounting for more than 56% of total tuna exports from Vietnam.
Dragon Waves Frozen Food Factory Co., Ltd
YUEH CHYANG CO
BIDIFISCO
AMANDA FOODS (VN) LTD
HIGHLAND DRAGON
Dragon Waves Frozen Food Factory Co., Ltd
YUEH CHYANG CO
BIDIFISCO
AMANDA FOODS (VN) LTD
HIGHLAND DRAGON
61,748,089
60,088,082
50,464,108
41,628,364
39,789,961
59,209,637
69,634,428
40,588,435
39,583,743
36,999,950
13.57
13.21
11.09
9.15
8.75
12.23
100.14
8.38
8.17
7.64
0.92
0.90
0.76
0.76
0.60
0.76
0.89
0.52
0.51
0.47
TOP 5 TUNA EXPORTERS IN 2015
Propor-tion in total tuna
exports (%)
Propor-tion in total tuna
exports (%)
Propor-tion in total sea-food
exports (%)
Propor-tion in total sea-food
exports (%)
EXPORTERS EXPORTERSValue (US$) Value (US$)
2015 2014
5554
TUNA EXPORTS TO JAPAN, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0
80
60
40
20
0
-20
-40
-60
2014 2015 Growth Rate (%)
CHAPTER IV TUNA EXPORTS
Report on Vietnam Seafood Exports in 2015
iV. tuna imports
- in 2015, lacking of material was still a problem. Vietnam imported tuna for processing and exports.
- Vietnam’s tuna imports in 2015 valued us$214.9 million, up 16.8% over the same period of 2014. Most of the tuna imported was fresh and frozen.
- Vietnam sourced from 36 countries worldwide. South Korea was the biggest source, taking up 21% of total imports, followed by china and hong Kong with 10.2% and the eu with 4.8%. it likely that the FTa with the eu had an enormous impact on tuna imports in the past year. in particular, Vietnam’s tuna imports from the eu countries increased sharply by over 313%.
5554
1
23
45678
91011121314
15161718
1920212223242526272829303132333534353637
21.310.210.10.054.84.00.70.1
0.010.001
8.74.62.31.40.46.25.0
43.922.1
5.32.21.7
1.51.31.11.11.11.10.70.70.60.60.60.50.50.40.40.20.20.1
0.020.01
100.0
45,732,87921,868,089
21,764,226103,863
10,244,9728,639,0441,473,708
110,78219,955
1,48418,589,786
9,983,1184,843,2682,995,933
767,46713,363,03810,832,78094,249,207
47,385,00011,292,392
4,710,6603,694,428
3,116,8032,874,1102,377,6062,347,4822,345,0092,340,1971,588,3151,409,9961,289,3891,253,7671,197,1711,083,5011,010,849
952,624855,602378,150372,323308,160
35,82729,848
214,880,753
South Korea
China Hong Kong
SpainFranceNetherlandsGermanyUK
IndonesiaVietnamPhilippinesThailandThe USJapan
TaiwanKiribatiMicronesia Papua New Guinea
FijiMarshall IslandsEcuadorMauritiusSeychellesSolomon IslandsCape VerdeVanuatuTuvaluVenezuelaNew ZealandPanamaBelizeGuineaEl SalvadorNicaraguaMaldivesChristmas IslandsIndiaSouth Africa
Total
+66.0+43.9+43.2
+313.6+306.5
-48.4
-30.4-17.4-21.1
+361.9-54.0-66.6-32.6-29.2
+112.4+29.0+39.7
-25.8+77.8
+47.1-51.3
+56.7
+160.4
-87.0+18.8
-32.6
-24.5+1.805.2
+531.3
-97.7-38.0
+16.8
VIETNAM’S TUNA IMPORTS IN 2015
Origin Value (US$)
Value (US$)Origin
Propor-tion(%)
Propor-tion(%)
Com-pared to 2014 (%)
Com-pared to 2014 (%)
No. No.
CHINA & HONG KONG
Other markets
EU
ASEAN
chapter V:eXPorTS oF cePhaLoPoD anD oTherMarine ProDucTS
5754
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
i - cephalopoD
- cephalopod exports in 2015 reached us$ 429.19 million, down 11.2% year on year. Squid exports accounted for 55% of cephalopod exports with uS$ 236 million, down 14% year on year while octopus exports accounted for 45% with uS$ 192 million, down 8%.
- exports were up in the first 2 months of the year and declined all the other months.
- in 2015, exports to main markets experienced decline: exports to South Korea fell by 6.2%, exports to the eu dove by 24%, those to aSean were down by 10% and those to Japan dropped by 9.5%.
- The decline in major markets can be explained by the depreciation in of currencies.
1 - markets
- in 2015, Vietnam sent cephalopod to 68 markets, compared to 76 markets in 2014.
- in 2015, all top 9 markets reduced imports of cephalopod from Vietnam. among those, eu reported the biggest hit with 23.7%, followed by Taiwan with 19.6% and australia with 11.4%.
- exports of cephalopod dropped in general but it is well noted that exports of value-added cephalopod grew. it is a signal that companies have been focusing more on processed products to tackle the lack of raw cephalopod.
Squid (1)- Other processed squid (HS code 16)- Dried/grilled squid (HS code 03)- Live/fresh/frozen squid (HS code 03)Octopus (2)- Processed octopus (HS code 16)- Dried/salted/live/fresh/frozen squid (HS code 03)Total (1 + 2)
-13.75.7
-6.1-21.2
-7.97.7
-10.6-11.2
55.0
45.0
100.0
236,250,55218,589,73098,390,658
119,270,164192,943,577
32,718,556160,225,021
429,194,129
Products
CEPHALOPOD EXPORTS BY PRODUCTS IN 2015
2015 (US$)
Proportion (%)
Variation (%)
Japan 24%
China 5%The U.S 1%
Others 4%
ASEAN13%
EU 14%
South Korea 38%
The importing markets of Vietnam cephalopod 2015 (Value)
Japan 23%
China 5%The U.S 1%
Others 5%
ASEAN13%
EU 17%
South Korea 36%
The importing markets of Vietnam cephalopod 2014 (Value)
5754
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
1.1 south Korea
- in 2015, cephalopod exports to South Korea touched uS$ 163.9 million, down 6.2% year on year. South Korea is now Vietnam’s biggest cephalopod importing market, taking up 38.2% of total cephalopod exports from Vietnam.
- among all cephalopod, frozen octopus was the most imported item in South Korea.
- china is the biggest source of frozen octopus to South Korea and Vietnam is the second biggest one.
- South Korea imported frozen squid from 22 countries worldwide. Vietnam, among all, is the biggest source, followed by chile and Peru.
South KoreaJapanThe EUItalySpainGermanyASEANThailandMalaysiaChinaHong KongThe USTaiwanIsraelAustraliaOtherTotal
-6.2-9.5
-23.7-27.1
-6.0-14.9-9.6-9.5-9.9-7.2
-12.0-6.2
-19.6-10.2-11.4-33.8-11.2
-11.9-16.3-13.5
-9.0-31.5-36.0-0.4
+0.8-9.8-8.4
-14.0-32.2
-9.9+45.0
-24.1-32.7-12.3
46.51725.23717.37811.307
0.9701.249
15.31812.602
1.5234.7131.753
1.7491.5131.0500.9381.872
116.284
42.43727.62318.01310.432
2.0651.245
13.62010.585
2.3795.2961.476
1.9751.1201.2810.8842.088
114.337
39.16228.36216.136
9.5911.3341.252
15.65812.207
2.5555.5951.819
1.3291.5030.8221.1231.920
111.610
35.83220.222
9.9296.1200.4810.970
11.4099.8670.682
5.5380.833
1.0440.8660.4650.5161.142
86.963
163.948101.445
61.45637.450
4.8494.715
56.00445.261
7.13821.142
5.8816.0975.0013.6183.4617.022
429.194
CEPHALOPOD EXPORTS BY MARKETS (Unit: US$ million)
Variation (%)
Variation (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
CEPHALOPODS EXPORTS TO SOUTH KOREA, 2014 - 2015
US$
Mil.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
201816141210
86420
6050403020100-10-20-30
2014 2015 Growth Rate (%)
48
-12
19
-9
-24
-1 0
-9
-5
-22-10
5958
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
1.2 the eu
- in 2015, Vietnam cephalopod exports to the eu reached uS$61.45 million, down 23.7% compared to 2014.
- eu is Vietnam’s third largest importing market for cephalopod, just after South Korea and Japan. cephalopod imports of italy, Spain and germany, top 3 cephalopod markets in the bloc, however, reported decline.
- cephalopod exports dropped in the whole year of 2015, except for February when those were reported ups. cephalopod supply surged causing imports from Vietnam to go down.
SpainFalkland IslandsIndiaChinaThailandMoroccoThe USPeruVietnam South AfricaNew ZealandMauritaniaNamibiaIndonesiaPortugalBelgiumThe Netherlands
ItalySouth KoreaTaiwanFranceSloveniaGreeceThe UKCroatiaAlbanyMexicoMalaysiaGermanySenegalDenmarkOthersTotal
14,20127,31028,54719,23413,720
7,3108,4148,0593,7807,0934,0463,4441,8201,803
496828355
31728
600223
2846
13972
375159196
51201
37815
153,744
74,67060,50058,29247,56436,03919,33617,07214,56110,304
6,6319,2163,1033,9063,8324,0583,0832,662
2,5782,7351,6651,8841,6711,5701,4081,287
841795743865440566
1,401395,280
2.523.463.233.103.134.762.321.975.645.671.635.724.154.503.883.414.60
5.482.865.226.684.603.143.624.565.442.304.174.105.355.284.42
3.39
2.872.543.112.504.405.042.041.493.706.833.085.454.234.253.813.033.14
5.942.354.005.423.704.073.425.164.801.954.033.965.405.904.73
3.20
Origin Origin
Volume (MT)
Volume (MT)
2015 2015 2015 20152014 2014 2014 2014
Average price (EUR/kg)
Average price (EUR/kg)
EXPORTS OF FROzEN SQUID AND SHORT FIN SQUID (Ommastrephes spp,.Loligo spp,. Nototodarus spp,. Sepioteuthis spp,) BY THE EU.
JANUARY-OCTOBER 2014/2015
CEPHALOPOD EXPORTS TO THE EU, 2014 - 2015 US
$ M
il.
Jan JulApr OctFeb AugMay NovMar SepJun Dec
%
109876543210
80
60
40
20
0
-20
-40
-60
-80
2014 2015 Growth Rate (%)
5958
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
1.3 the us
- cephalopod exports to the uS in 2015 reached us$6.09 million, down 6.1% compared to 2014.
- in 2015, the uS increased its squid imports but spent less on this item. national Marine Fisheries Service revealed that from January to november 2015, the uS imported 66,018 MT of squid (up 4.55%), equivalent to uS$230.01 million (up 0.27%). Price for squid in the uS in the first 11 months of the year was around uS$3.48 /kg, down from uS$3.63/kg in 2014.
- From January to november 2015, the uS imported 21,184 MT of octopus (up 23.52%), equivalent uS$115.33 million (up 19.72%). Like squid, price for octopus declined in 2015. Price for octopus in the uS in the first 11 months of the year was around uS$5.44/kg, compared to uS$5.62/kg in 2014.
AustraliaBelgiumChileChinaHong KongTaiwanIndiaIndonesiaItalyJapanMalaysiaMauritaniaMexicoMoroccoPeruPhilippinesPortugalSouth AfricaSouth KoreaSpainThailandVietnamTotal
203.32-96.30-10.53
5.10-53.6812.9919.2972.5956.0713.3315.5864.5172.24
100.0965.6743.46
-36.80206.24
-4.1713.3815.86-2.32
19.72
252.17-98.47-66.24
4.05-61.8516.3125.7742.5636.7522.21-1.02
129.04105.93132.64
74.7930.12
-30.84193.40
30.3026.5417.40
1.9023.52
213,4802,618
68,73615,130,312
145,826324,597
2,664,27714,899,082
549,2566,225,3861,219,475
320,8116,185,6452,872,1531,107,758
13,041,6434,944,022
110,579314,750
37,852,5594,797,1542,260,681
115,331,872
12,150299
12,9952,869,010
25,94525,211
883,5803,048,755
44,186487,452282,816
42,5491,180,912
379,627326,626
3,691,750715,198
12,93639,546
5,323,5191,186,098
581,59821,184,365
70,38070,84676,823
14,396,794314,819287,267
2,233,3628,632,726
351,9345,492,9221,055,073
195,0103,591,2221,435,438
668,6419,091,0267,823,094
36,109328,458
33,387,0384,140,6192,314,469
96,332,788
3,45019,55838,492
2,757,35168,00921,675
702,5472,138,569
32,311398,867285,742
18,577573,448163,180186,873
2,837,1451,034,136
4,40930,349
4,206,8271,010,270
570,77017,149,887
Origin Volume 2014 (kg)
Volume 2015 (kg)
Value 2014 (US$)
Value 2015 (US$)
Variation in value (%)
Variation in volume (%)
US OCTOPUS IMPORTS JANUARY – NOVEMBER 2015
6160
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
2. cephalopod imports
- Thoughout 2015, Vietnam imported cephalopod from 22 countries, with the value of uS$ 34.23 million, down 15.1% year on year.
- imports from Mexico sky-rocketed by 352.2% to uS$ 2.996 million. cephalopod imported from Mexico now accounts for 8.8% of total cephalopod imports of Vietnam. argentina also reported a big hit of 196% rise to uS$ 652 thousand. cephalopod imported from argentina accounts for 1.8% of total cephalopod imports of Vietnam.
ii. biValVe mollusK
- in 2015, bivalve mollusk exports valued uS$82.39 million, up 3% year on year.
Vietnam sent bivalve mollusk to 62 markets, compared to 64 markets in 2014.
- Top 10 markets include the eu, Japan, the uS, aSean, South Korea, china, canada, australia and Taiwan. These markets accounted for 98.5% of total bivalve mollusk exports from Vietnam.
TaiwanIndonesiaIndiaMexicoChinaVietnamChileSouth KoreaPhilippinesPakistanThailandMalaysiaThe USArgentinaJapanOmanPeruMauritaniaMauritiusSenegalSpainMoroccoTotal
123456789
10111213141516171819202122
+29.0-18.7-25.1
+352.2-37.4+5.2-19.7-59.6-34.4-60.2-50.3-19.7-51.5
+196.0+9.4-35.6
+11.1-53.7
-68.2-73.7-15.7
23.316.210.9
8.86.04.73.83.83.63.02.72.52.21.91.91.61.40.50.50.30.30.2
100.0
7,964,0565,548,1073,739,7802,996,7192,049,8661,614,7081,317,1791,307,4101,229,7571,025,532
926,335852,419737,820652,466650,641545,100491,971161,150157,901103,802
91,78473,125
34,237,949
No. Origin Value (US$) Proportion (%) Variation (%)
VIETNAM CEPHALOPOD IMPORTS IN 2015Source: VASEP (basing on data from General Customs)
6160
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
- eu is the biggest importing market for bivalve mollusks, accounted for 62.6% of Vietnam total exports, compared to 68.1% in 2014. in 2015, bivalve mollusk exports to eu reached uS$51.58 million, down 5.3% year on year. exports to Portugal, the biggest bivalve mollusk importing market in the bloc, fell by nearly 17% to uS$15.16 million.
- To Vietnam, italy is the second biggest market for bivalve mollusk in the eu. according to Vietnam general customs, throughout 2015, bivalve mollusk exports to italy reached uS$12.75 million, up 7.4% from the same period in 2014. all clam products that Vietnam exported to italy are processed (hS 160556). italy is Vietnam’s second biggest market for bivalve mollusk in the eu. in recent years, italy has not imported fresh live clam (hS 030 771) from Vietnam. Since 2014, the market has not imported frozen clam (hS 030779). in 2013, italian spent uS$14 thousand on imported frozen clam.
The market imported of live fresh clams from 9 countries and frozen oysters from 13 countries worldwide. Processed clams were sourced from 7 countries. Vietnam is the second biggest source of processed clam (hS 160556), after Turkey. italian spent uS$13.087 million on processed clams. imports from Vietnam were worth uS$5.504 million, equivalent to 42% of total imports
- currently, domestic sources for clam are not sufficent, therefore, clam meat are exported for better price.
- The price for clam imported to the uS fell in 2015. in 2015, the uS increased imports of clams but spent less on these. average import decreased slightly. The average price of the uS imported clams in the first 11 months of 2015 was uS$2.95/kg, down from uS$3.08 /kg in the same period in 2014.
EUPortugalItaly SpainJapanThe USASEANMalaysiaSouth KoreaChinaAustraliaCanadaTaiwanOthersTotal
-5.3-16.3+7.4
-4.6+12.3+18.1+31.8
+8.1+37.2
+113.6-18.7
+13.9+9.3
+18.1+3.0
+8.5+6.4
+13.0-19.0+8.3
+105.5+77.4+53.6
+105.5+26.3+47.9
-34.7+16.6
-44.7+23.9
12.7074.1162.4063.110
2.5553.3631.0140.382
2.1190.4620.3130.1490.1780.187
23.047
11.6693.3443.0122.902
2.2772.2410.8950.458
0.7830.3240.1950.2540.0610.430
19.129
15.5663.7074.8863.476
2.6931.3241.4730.890
0.3100.5700.2010.2370.1170.710
23.203
11.6403.9962.4552.743
2.1261.2990.8540.580
0.2750.1900.0810.1340.1390.272
17.010
51.58315.16312.75812.2319.6518.2274.2362.310
3.4871.5460.7910.7740.4951.599
82.390
BIVALVE MOLLUSK EXPORTS BY MARKET (Unit: US$ millions)
Variation (%)
Variation (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
6362
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
- china remained the largest source of clam to the uS, accounting for 40-45% of total uS clam imports. The uS also sourced for clams in canada and Vietnam. Vietnam mean while occupied about 7% of the total imports of clams in the uS.
opportunities, challenges and forcast
- in the beginning of this year, supply of bivalve mollusk, especially clams stabilized as epidemic has been controlled. clam production rose well. Domestic and international consumption is recovering. however, at the end of Qii, production in some provinces declined, resulting in lower harvest volume in the coming time.
- import demand for scallop in markets such as canada, South Korea, the eu is projected to increase 1.5-50% year on year. companies can head strategies to these markets.
CanadaChileChinaTaiwanIndonesiaJapanMexicoThe NetherlandsNew ZealandPeruSouth KoreaSpainThailandVietnamTotal
17.341.714.82
-45.76-2.5925.44
-41.0633.32
-38.39-68.8019.57
-14.60-55.74
-9.02-0.20
30.44-0.3810.46
-45.76-10.4771.39
-33.9965.30
-15.94-85.47
0.12-31.34-61.85
-1.023.89
22,548,1462,472,534
28,545,341196,782
2,705,250221,180
1,208,568553,674
1,162,33032,50975,72553,307
1,968,6474,709,007
66,505,479
3,216,834627,610
14,278,75370,283
791,51323,718
362,852263,165395,153
4,8377,7504,072
538,4831,901,659
22,506,237
19,215,9002,431,007
27,232,250362,773
2,777,124176,319
2,050,460415,303
1,886,458104,184
63,33062,423
4,447,6195,175,738
66,640,517
2,466,147629,979
12,926,777129,575884,115
13,839549,659159,203470,084
33,2967,7415,931
1,411,3751,921,296
21,663,907
Origin 2014 Volume (kg)
2015Volume (kg)
2014 Value (US$)
2015 Value (US$)
Variation of value (%)
Variation of volume (%)
US CLAM IMPORTS INTO THE US JAN-NOV 2014 – 2015 (Volume: kg - Value: US$)
ASEAN 5%
China 2%
Others 4%
Japan 12%
South Korea 4%
The U.S 10%
EU63%
The importing markets of Vietnam bivalve mollusk 2015 (Value)
ASEAN 4%China 1%
Others 4%
Japan 11%
South Korea 3%
The U.S 9%
EU68%
The importing markets of Vietnam bivalvemollusk 2014 (Value)
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CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
- Demand has increased but price is forecast to stay flat. Value added product can be a solution to increase exports.
- Bivalve mollusk exports in 2016 will reach uS$82 million, up 5% from 2015.
iii. crab
in QiV/2015, Vietnam crab exports were down 12.6% year on year to uS$ 39 million. For the whole year of 2015, crab exports surpassed us$121 million, down 7% year on year.
1. markets
- in 2015, Vietnam exported crab to 43 markets, signaling a market expansion.
- Top 10 exporting markets include the uS, the eu, Japan, china, aSean, australia, Taiwan and canada, accounted for 97% of Vietnam total crab exports in the whole year of 2015.
crab exports to the uS and the eu, the two major markets, reported declines of 17.9% and 19.3%, respectively. crab exports to Japan and china surged in the year end.
The USJapanEUFranceThe UKNetherlandsBelgium ChinaHong KongASEANSingaporeMalaysiaAustraliaTaiwanCanadaOtherTotal
-17.9+29.7
-19.3-29.9-40.8
+38.5+15.1
+51.4+286.8
-0.4+69.9
-20.8+45.8+29.3
-63.0+17.9
-7.4
-22.4+19.4
-26.9-43.1-40.4
+27.0+65.7
+117.8+673.7
-51.1-7.6
-83.7-17.6
+20.0+31.3
-27.3-12.6
17.76710.534
5.8352.4261.2551.2340.534
1.6810.924
0.6790.3660.053
0.5260.5260.4620.761
38.772
17.5046.7306.3982.5821.3481.3130.805
1.4870.653
0.8200.3960.192
0.6290.2080.3050.731
34.811
12.5644.9373.6941.1900.8071.4680.052
1.8581.172
1.0360.4960.058
0.3780.4580.0960.903
25.924
9.8493.3925.0512.2231.3220.4330.637
0.8590.540
0.8900.4270.221
0.5720.2840.0041.070
21.972
57.68425.59320.978
8.4204.7324.4492.028
5.8853.289
3.4241.6850.524
2.1051.4760.8673.466
121.478
VIETNAM CRAB EXPORTS 2015 BY MARKET (Unit: US$ millions)
Variation (%)
Variation (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
6564
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
1.1. the us
- Vietnam crab exports to the uS continued their decline in QiV/2015. crab exports to the market in the last quarter valued us$17.8 million, down 18% year on year. This resulted in a fall in Vietnam crab exports in the whole year, which were down 15.7% to uS$40 million.
- Vietnam is currently ranked the 6th in the uS top list of crab suppliers. among aSean countries, Vietnam ranked the third, after indonesia and the Philippines. crab imports from Vietnam equaled to 2% of the total uS crab imports and accounted for 12.4% of total crab exported from aSean to the uS. in the uS market, Vietnam offered better crab price, comparing to indonesia and the Philippines.
1.2. the eu
- From the mid year of 2015, Vietnam crab exports to the eu fell gradually and even faster towards the year end. Therefore, there was a time that eu was ranked the third, in stead of the second in top 8 markets. Vietnam crab exports to the market in 2015 touched us$ 21 million, down 19.3% year on year.
- France, the uK, netherlands and Belgium continued to be 4 leading importing markets for crab from Vietnam. in Qiii/2015, exports to the netherlands rose while those to other markets declined. in QiV/2015, Vietnam crab exports to France and the uK fell while that of the netherlands and Belgium grew. cumulative value for the whole year for Vietnam crab exports to France and the uK declined while those to the netherlands and Belgium reported growth.
- according to the iTc, eu sourced crab from 73 countries inside and outside the bloc. Vietnam is currently the leading source among non-eu countries to supply crab to the bloc.
1.3. Japan
- Vietnam’s crab exports to Japan in QiV improved. crab exports to the market in QiV/2015 valued over uS$10.5 million, up 19% year on year. cumulative value for Vietnam crab
Others4.8%
EU 17.3%
China 4.8%
Australia 1.7%
ASEAN 2.8%
Japan21.5%
The U.S47.5%
The importing markets of Vietnam crab, 2015 (Value)
Others4.9%
EU 19.8%
China 3.0%Australia 1,1%ASEAN 2.6%
Japan 5.0%
The U.S53.6%
The importing markets of Vietnam crab, 2014 (Value)
6564
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
exports in 2015 were approximatety uS$25.6 million, up 29.7% year on year. Japan maintained its position as Vietnam’s third biggest importing market for crab.
- Vietnam ranked the 7th among 28 sources, but comparing to other aSean countries, just behind indonesia.
- While Vietnam crab exports grew, those of indonesia dropped. it is also noted that the proportion of indonesian crab in total crab imports into Japan doubled that of Vietnam.
2. opportunities, challenges and forecast
- crab production remained at high level, however, most were small crabs. Seafood consumption was good, which facilitates exports.
- Difficulties mainly came from the eu, due to the impact from the depreciation of the euro against uS dollar, resulting in lower demand.
- crab exports will continue to grow in 2016, especially to markets that Vietnam signed FTas with. crab exports are expected to slightly increase by 5% in 2016 to uS$130 million.
iV. surimi
in QiV/2015, Vietnam surimi exports surpassed uS$86 million, down nearly 2% year on year. cumulative export value for surimi from Vietnam touched uS$304 million, up 3.4% year on year.
1. markets
- in the whole year of 2015, surimi from Vietnam was destined to 39 markets, flat from 2014.
- exports to top 8 markets occupied 99% of total surimi exports from Vietnam. These markets included South Korea, aSean, Japan, china - hong Kong, the eu, russia, Taiwan and the uS.
Others3.9%
ASEAN 26.8%
Japan 12.1%
South Korea 32.1%
Russia 5.2%
China11.9%
EU7.9%
The importing markets of Vietnam surimi, 2015 (Value)
Others4.1%
ASEAN 23.1%
Japan 12.1%
South Korea 33.0%
Russia 4,9%
China15.2%
EU7.6%
The importing markets of Vietnam surimi, 2014 (Value)
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CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
1.1. South Korea
- Vietnam surimi exports to South Korea in QiV/2015 reached us$26 million, down 7% year on year. For the whole year, surimi exports to South Korea touched uS$96 million, up 1.2% year on year. South Korea was still Vietnam’s leading market for surimi.
- To South Korea, Vietnam is now the biggest source for surimi. however, as the uS dollars appreciated, surimi price got higher, resulting lower demand.
- currently nearly 54% of surimi imported into South Korea is from Vietnam. Surimi from Vietnam is observed to be competitive.
1.2. ASEAN
- Surimi exports to South Korea in QiV/2015 surpassed us$18.6 million, down 0.7% year on year. For the whole year of 2015, Vietnam surimi exports valued over uS$80 million, up 21% compared to 2014.
- Data from the iTc showed that aSean countries imported surimi from 28 sources worldwide. imports from intra-aSean countries accounted more than 75% of total imports.
- Vietnam was the main supply for the market. taking up more than 57% of total imports into the bloc. aSean economic community (aec) will be established later this year, which is hoped to come up with opportunities for exports. With favorable geographical position, Vietnam can further its surimi exports to this market.
South KoreaASEANThailandSingaporeMalaysiaJapanChinaHong KongEUFranceLithuaniaSpainRussiaTaiwanThe USOthersTotal
+1.2+21.0+32.5
-6.2+4.1+4.0-18.2
-2.8+8.9
+28.8-11.9-19.7+9.8+5.2
+18.0-41.4+3.4
-7.0-0.7-0.1-8.1
+11.5-7.5-6.2
-19.5+34.0+13.2
+124.4+1.914.1
+24.8-6.1
+54.1-66.5
-1.8
25.91618.61912.721
3.6402.258
9.81510.875
0.3578.5935.3971.3061.277
7.5623.5230.4460.812
86.161
26.49521.05314.821
3.5502.600
9.0159.4290.447
6.1204.6750.6110.273
1.9623.5540.1131.041
78.782
25.27323.77218.705
3.5571.418
10.70910.050
0.2955.5444.5920.2320.231
1.4842.7250.2840.802
80.643
18.10716.67611.982
2.9031.700
6.5865.2910.243
3.3061.4850.9170.000
4.4622.6390.3490.930
58.347
95.79180.11958.23013.649
7.97636.12535.645
1.34223.56316.148
3.0661.782
15.47012.442
1.1933.585
303.932
VIETNAM SURIMI EXPORTS 2015 BY MARKET (Unit: US$)
Variation (%)
Variation (%) 2015QI/2015 QII/2015 QIII/2015 QIV/2015Markets
6766
CHAPTER V EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
Report on Vietnam Seafood Exports in 2015
1.3. Japan
- in QiV/2015, Vietnam surimi exports to Japan valued us$9.9 million, down 7.5% year on year. cumulative exports valued over uS$36 million, up 4% year on year.
- Vietnam with 8% of the market share is currently the 5th largest source, behind Thailand, norway, india and china.
- Japan has long been the world’s largest surimi consumption market, despite concerns over the weakening economy. Surimi market in Japan showed signs of recovery. it is predicted that import volume and inventory levels will increase.
2. opportunities, challenges and forecast
- as Vietnam has signed trade deals, including FTas with South Korea and the eu along with the TPP, the country will have an opportunity to boost exports to these markets, especially South Korea.
- Due to unpredictable weather in 2016, fish capture would be affected, therefore, raw material will be a problem.
- This year, fishing activities are better with the development of fishing union, cooperatives for offshore capture and logistics. Therefore, raw materials for surimi will plentiful.
- it is forecast that surimi exports in 2016 will continue to grow by more than 8% to over uS$ 322 million.
6768
chapter Vi:oPPorTuniTieS, chaLLengeS anD ForecaST
6768
CHAPTER VI OPPORTUNITIES, CHALLENGES AND FORECAST
Report on Vietnam Seafood Exports in 2015
opportunities: :
1. aec, tpp and ftas: The year 2015 witnessed the signing and conclusions of bilateral and multilateral trade deals (FTa and TPP) along with the establishment of the aSean economic community (aec). in 2016, as trade deals are signed or take effect, positive affects on seafood industry will be seen. These effects increase in investments, expand domination in many markets, boost domestic production, raise levels of processing and give development opportunities to the industry. as agreements are taken into force, tariff on most exported products will immediately be as much as 0%, or will be eliminated after 3-5 years. This is, however, not applied for surimi, canned tuna, tuna filet and crab, whose tariff are to be eliminated in 7-10 years or require quota (eVFTa).
When the agreements take effect, Vietnam’s seafood will have comparative advantages comparing to most competitors like indonesia, Thailand, the Philippines, ecuador, argentina and india. Vietnam has advantage from TPP combined with FTas but these countries do not.
2. adjusting exchange rates: currency volatility, especially the continuous devaluation of the yuan in the first 8 months of 2015 forced Vietnam State Bank to adjust uSD/VnD exchange rate 3 times. as a result, the rate increased by 5%. after adjustment in august 2015, the Vietnam dong has become more flexible to any changes in the domestic and international markets till June 2016. This created stability of the currency and ensure the competitiveness of Vietnam’s seafood exports.
3. shrimp: on the 9th September 2015, uS Department of commerce’s final results of the ninth anti-dumping duty administrative reviews (Por9) on frozen shrimp imported from Vietnam. The rates were relatively lower than preliminary results announced on the 3rd March 2015, which signified a better year for Vietnam shrimp exports.
4. pangasius: in 2015, the government and MarD acquired and timely directed to delay regulations on quality of exported pangasius in Decree 36/2014/nD-cP while evaluating, reviewing and amending this Decree to simplify implementation processes to apply in 2016.
5. tuna: a number of state policies, plans and programs and from the tuna industry itself were recognized as positive and good for the long term. These include Decree 67/2014/ nD-cP on some fisheries development policies, pilot scheme for tuna supply chain, compliance and efforts against iuu, catch certification program and cooperation with eii in “Dolphin Safe” labeling program for exported tuna.
6. Quality management and antibiotic control in aquaculture: MarD, state agencies, local governments and companies have been actively paid attention to programs specifically targeted to food safety, product quality control and managing uses of antibiotics. These efforts will be a factor to help build customer trust.
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Report on Vietnam Seafood Exports in 2015
ii. challenges
1. lower prices: continuing the downtrend from 2015, demand became lower due to effects of global economic downturn. on the supply side, it is noted that seafood supply increased while currencies depreciated against the uS dollar. For example, the price of Vietnam’s black tiger shrimp count 16/20, a u.S. market’s favorite, was downed 14% from uS$ 11.3 in the early 2015 to uS$9.75/lb in Qiii/2015. Black tiger shrimp count 21/25 slid 30% in price from uS$ 7.5 /lb to uS$ 5.8 /lb while the price of indian shrimp in the same type also downed from uS$ 6.9/lb to uS$ 5.85/lb.
Shrimp prices are forecast to lower demand in major importing markets, economic changes in emerging countries and supply surplus in main supplying markets. comparing to shrimp prices in 2015, those will decline by 4% in 2016, by 7% in 2017 and by 13% in 2020.
2. changes in currencies: in 2015, many countries devaluated their currencies against the uS dollar. The volatility of currencies placed commodity prices under pressure. Demand remained low and competition became fiercer. chinese currency policies created uncertainty for both currency market and trading markets.
Major currencies fell sharply against the uS dollar. From Jan 2013 to aug 2015, eur depreciated 20%, yen devalued 39%, won downed 11% against uSD. The yuan depreciated against the uS dollar in august 2015. VnD is pegged to the uSD. in august 2015, VnD depreciated by 5% against uSD and the yuan, comparing to January 2013.
The deepest depreciation against uSD was seen in domestic currencies of developing countries such as Brazilian real (-72%), colombian peso (-52%), indonesian rupiah (-42%), Malaysian ringgit (-33%), indian rupee (-20%) and Thai baht (-18%). The depreciation in currencies increased seafood price competition in the global market.
3. high prices due to higher costs: Vietnam shrimp price was relatively high: costs of production (seed, feed, veterinary drugs), which were dependent on imports, were reported increase. Production costs for Vietnam shrimp were much higher than competing sources. Seeding in Vietnam costs almost double as in india, costs for shrimp feed in Vietnam were 40% higher than average levels. Meanwhile, due to environmental factors, survivor rate was not really high. These factors created higher prices for shrimp from Vietnam.
4. antibiotic control: aquaculture sector will continue facing challenges relating to antibiotics, especially shrimp. The control must be in sequence and systematic. companies will have to invest more in food safety programs but it is necessary for MarD and relevant state agencies to involve and support the control in production, import as well as distribution of drugs and other inputs.
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Report on Vietnam Seafood Exports in 2015
5. pangasius:
* High anti-dumping duty on Vietnamese pangasius fillets exported to the US: he Department of commerce (Doc) announced its preliminary decision on the duty imposed on certain frozen pangasius fillets imported from Vietnam in its the eleventh antidumping duty administrative reviews (Por11) from august 1, 2013 to July 31, 2014. The two mandatory reviewed exporters – hung Vuong and Thuan an – will have to pay tariffs of uS$ 0.36/kg and uS$ 0.84/kg, respectively. The 16 other exporters will be taxed uS$ 0.6 per kilo. Most companies will be unable to export to the uS with this tariff. however, this is only the preliminary ruling of the Doc, Vietnam still have time to study Doc’s calculation for feedback in order to change the outcome.
* Catfish inspection program: This program also includes pangasius from Vietnam. uS Department of agriculture will begin the 18- month transition from the 1st March 2016. in new rules, the uS requires equivalent assessment system for exported fish. This is recognized as an obstacle for Vietnamese pangasius when exporting to the uS.
* Competition against other white fish species: From 2014, many countries stopped setting quota for whitefish(cod, alaska Pollock, hake ...). Tilapia has also been a direct substitute of pangasius in many markets and in the major segments. Pangasius has been competing with this white fish in the eu, uS, russia and even in Thailand, Vietnam’s biggest pangasius market in aSean.
6. us regulations on iuu: uS traceability program requires the participation of bodies like customs and Border Protection (cBP), Food and Drug administration (FDa) and noaa in the enforcement and monitoring, which is costly for the exporting companies. The stringent measures may create unnecessary obstacles to trade and violate the agreement on Technical Barriers to Trade (TBT).
7. tpp and ftas: Besides opportunities for exports and tax benefits, FTas and TPP pose challenges for the fisheries sector with SPS and TBT. Barriers in the form of technical regulations, sanitary and phytosanitary requirements or related to labor will probably disable benefits from reduced tariffs. For example, rules of origin shown in TPP would make it difficult to export seafood and also create challenges with environmental requirements and anti-subsidy.
8. tuna:
• Import tariffs remaining high in major markets: We have to wait for at least 2 years until the TPP and eVFTa to be effective and another 5 to 10 more years for tariff on tuna to be eliminated. The state and tuna industry has made efforts to improve capture capacity, nonetheless, import duty in Vietnam’s target markets for tuna remained at high level, especially tariff on canned tuna (hS16). The eu pose tariff of 18-22% on tuna coded hS03, and 24% on tuna hS16. Similarly, when exported to the uS, tuna hS16 is taxed at 6-35%. after the TPP is put into effect, it will take 10 more years for tariff on tuna to be eliminated.
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Report on Vietnam Seafood Exports in 2015
• Lack of raw materials: World demand became higher and prices offered were better. Due to the el nino cycle in the east Sea, tuna moved to other waters, resulting in significant decline in capture. capture area also shrunk. Tuna capture output has been declining gradually, causing severe shortage of materials for processing and export. Many companies have been competing against Thailand and china to import more raw tuna to maintain output.
• EU rules became an obstacle in increasing exports: beside requirements against iuu, tuna exported here has to comply with food safety. Fishing vessels are required to have eu code or certified as eu-equivalent quality by national authority. These rules significantly impede exports tuna and other seafood to europe.
iii. forecast
1. shrimp: Shrimp exports are still affected by declining prices and competition. however, there will be a positive impact from FTas on exports to major markets such as South Korea, aSean, Japan and the eu. india and indonesia will experience lower production. it is forecast that in 2016 shrimp exports will rebound, rising by 12.3% to us$ 3.3 billion.
2. pangasius: in 2016, pangasius exports to the uS were affected by the final decision on catfish inspection by uSDa. Demand for pangasius imports of the market has not improved significantly while the fish has strong competition against tilapia and cod. it is forecast that in 2016, pangasius exports will decrease by 4% to us$ 1.5 billion.
3. tuna: Tuna exports tend to recover from Qiii/2015. Demand for imported tuna will continue to grow in 2016, especially when FTas are signed. Tuna exports in 2016 would increase slightly by 11.6% to us$ 507 million.
4. cephalopod: cephalopod exports in 2016 will reach us$ 470 million, up 9.6% year on year.
5. marine fish exports will continue the upward trend with export value of us$ 1.3 billion, up 13% year on year.
6. Total seafood exports in 2016 will reach us$ 7.12 billion, up 8.4% year on year, with good growth in exports of shrimp, cephalopod and marine fish.
ShrimpPangasiusTunaCephalopodMarine fishTotal
12.3-4
11.69.6
13.18.4
3,315.9461,504.902
507.540470.241
1,324.8077,123.436
2,952.3711,565.170
454.972429.194
1,170.8936,572.600
FORCAST FOR VIETNAM SEAFOOD EXPORTS IN 2016
Products 2015 2016 (estimate) Growth (%)
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REPORT ON VIETNAM SEAFOOD EXPORTSIN 2015
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