Tuna products are exported to 80 markets; cashew nut exports skyrocket

Tuna products are exported to 80 markets.

Vietnam's seafood exports in the first three months of the year showed signs of good growth, bringing hope for a bright future for the entire seafood industry, including processed tuna products.

According to the Vietnam Association of Seafood Exporters and Producers, in the first 3 months of the year, canned tuna exports increased sharply by 53%, raising the proportion of canned tuna exports in Vietnam's total tuna export turnover to nearly the same level as frozen tuna meat/loin products, bringing in a turnover of more than 196 million USD, an increase of 21% over the same period in 2023.

In the first quarter of 2024, tuna products were exported to more than 80 markets.

The Vietnam Association of Seafood Exporters and Producers shared that this year, Vietnamese tuna exporting enterprises have made efforts to expand tuna export markets since the beginning of the year. In the first quarter of 2024, tuna products were exported to more than 80 markets, while last year it was 70 markets.

In the US market, tuna exports to this market, after increasing sharply in January, decreased slightly by 8% in February. However, in March, thanks to the North American Seafood Fair, tuna products had a positive change. While exports of tuna product groups to the US market decreased, canned tuna products continued to grow well.

Despite the improvement, Vietnamese tuna products still face many difficulties due to the IUU yellow card, causing the traceability of exported seafood to stagnate. Enterprises must make great efforts to have transparent sources of tuna raw materials both domestically and imported.

Cashew exports skyrocket

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs, saying that it is estimated that in March 2024, Vietnam's cashew nut exports reached 55 thousand tons, worth 289 million USD, up 106.8% in volume and 103.4% in value compared to February 2024, compared to March 2023, up 10.7% in volume, but down 2.2% in value.

In the first quarter of 2024, Vietnam's cashew nut exports reached about 147 thousand tons, worth 782 million USD, up 31.8% in volume and 20.5% in value over the same period in 2023.

In the first quarter of 2024, Vietnam's cashew nut exports will reach about 147 thousand tons.

It is estimated that the average export price of Vietnam's cashew nuts reached 5,248 USD/ton in March 2024, down 1.7% compared to February 2024 and down 11.6% compared to March 2023. In the first quarter of 2024, the average export price of Vietnam's cashew nuts is estimated at 5,329 USD/ton, down 8.6% compared to the same period in 2023.

In terms of variety structure, in the first two months of 2024, Vietnam increased exports of most cashew varieties compared to the same period last year, except for WS/WB, SP, and DW cashews.

According to preliminary statistics from the General Department of Customs, in the first two months of 2024, Vietnam mainly exported W320 and W240 cashew nuts, accounting for 56.71% of the total cashew nut export volume. Therefore, the growth in W320 and W240 cashew nut export has a positive impact on the industry's operations.

Export of 3 largest seafood products brought in more than 1.3 billion USD in the first quarter

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first quarter of 2024, Vietnam exported nearly 2 billion USD worth of seafood, up 8% over the same period last year. In March 2024 alone, seafood exports are estimated to reach more than 770 million USD, up slightly by 1% over the same period in 2023.

In the first quarter of 2024, shrimp exports recorded a 15% growth over the same period last year, reaching 690 million USD, the seafood product with the largest turnover. Following behind was pangasius with 423 million USD, up slightly by 0.4%; tuna with 220 million USD, up 22%; other types of fish reached 432 million USD, up 1.1%.

In the first quarter of 2024, Vietnam's seafood exports reached nearly 2 billion USD

In addition, squid and octopus exports decreased by 2% to 135 million USD; shellfish exports reached 30 million USD, down 6%; other mollusks reached 1.5 million USD, up 4%; crabs and other crustaceans reached 47.4 million USD, up 59%.

In terms of markets, Vietnam's three largest seafood export markets are the US, Japan and China, respectively. Of which, seafood exports to the US increased by 16%, to 330 million USD. Shrimp exports to the US in the first quarter of 2024 increased by 15%, while tuna, pangasius and crab exports all increased sharply from 13 - 53%. The average price of pangasius exported to the US is recovering from the low point at the end of the year, reaching 2.66 USD/kg by the end of February.

In the Chinese & Hong Kong (China) market, in the first quarter of 2024, seafood exports to this market increased by 15%. Pangasius, white-leg shrimp, lobster, anchovy and crab are the 5 most exported Vietnamese seafood species to China. Notably, in the quarter, lobster export turnover increased 11 times, crab increased 7 times compared to the first quarter of 2023.

In Japan, in the first quarter of 2024, white-leg shrimp exports to Japan increased by 20%, crab increased by 23%, and pangasius increased by 25% compared to the same period last year. According to VASEP, Japan also targets the Vietnamese market to process seafood products such as salmon, mackerel, basa fish, etc.

Wood and forestry product exports earn 3.61 billion USD

According to the Ministry of Agriculture and Rural Development, by the end of the first quarter of 2024, wood and forestry product exports will earn 3.61 billion USD. Currently, the United States, China, Japan, South Korea, the EU, Canada, and the United Kingdom are the main export markets for Vietnamese wood and forestry products.

In 2024, the Forestry sector strives for the export value of wood and forest products to reach 15.2 billion USD, of which wood and wood products will be over 14.2 billion USD, an increase of about 6% compared to 2023.

Mr. Do Xuan Lap - Chairman of the Vietnam Timber and Forest Products Association - shared that with the US market showing signs of recovery with forecast indicators of real GDP increasing by 2.2% in 2024, a survey at a number of wood and furniture fairs in early 2024 in the US showed that many customers came to visit and learn.

Wood and forestry product exports earn 3.61 billion USD

The Korean market is forecast to grow by 1.4% in 2024. In terms of energy, many Korean companies are actively participating in furniture fairs in Southeast Asia (Indonesia, Malaysia, Vietnam, etc.) to find partners and manufacturers. This may be a sign of recovery in exports to this market.

EU market, according to Statista, in 2024 the furniture market in Europe will have a revenue of about 236.8 billion USD, with a compound growth rate of 3.28% (CAGR 2024-2028), the living room furniture segment is estimated to reach 62.73 billion USD in 2024, dominating this market.

Source: https://congthuong.vn/xuat-khau-tuan-tu-1-74-san-pham-ca-ngu-duoc-xuat-khau-sang-80-thi-truong-xuat-khau-hat-dieu-tang-vot-313012.html