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Archive for April, 2013

Four main factors for increase in Vietnamese tuna export in 2012

Friday, April 26th, 2013

In 2012, Vietnam’s tuna exports reached US$569.4 million, up 50.1 percent on that of 2011. Vietnam sent tuna products to 96 markets, the same level of the previous year.
In the last quarter of 2012, Vietnam earned US$133 million from tuna export, down 11.3 percent from the previous quarter but up 40.7 percent from the same quarter of 2011.
There are 4 main factors for the increase in Vietnamese tuna export:
– Bumper crop of tuna by three main producing provinces including Phu Yen, Binh Dinh and Khanh Hoa and higher imports of raw tuna for processing and exporting.
– Lower catch volume in some producing countries such as in the Philippines and Thailand.
– Pacific bluefin tuna down 96.4 percent in stocks
– Stronger demand from key importing markets: In 2012, some key markets, including the U.S., the EU and Japan showed stronger demand for tuna products.

Source: Vasep

Switzerland is an optimistic market for Vietnam tuna

Friday, April 26th, 2013

Switzerland totally depends, for tuna import, from other European countries to meet domestic consumption. Average tuna consumption per capita in the market is 8.5 kg per year. According to the Centre for the Promotion of Imports from developing countries (CBI), fresh and frozen tuna imports into the market changed in each year. During 2006 to date, the market imported a record amount of 62,000 MT fresh tuna in 2007 with a sharp growth in fresh tuna imports from developing countries. However, during 2008 – 2011, fresh tuna imports from global suppliers in general and suppliers in developing countries in particularly were on the wane of 77 percent to 95 percent. Main suppliers of fresh tuna for Switzerland were Spain (43 percent), France (36 percent), Philippines (12 percent) and India (5 percent). Frozen tuna imports into Switzerland between 2006 and 2011 oscillated in line with sine graph. Frozen tuna imports from European countries, mainly France and Italy reported the sharpest growth with the volume of 11,000 MT. Among developing countries, Vietnam held the lead in exporting its frozen tuna to this market. Processed tuna imports into the market from developing countries remained stable and reported a slight growth from 2006 (7,000 MT) to 2011 (7,700 MT). Thailand, Vietnam and, Indonesia were the biggest exporters of this item to Switzerland. According to Vietnam Customs, tuna exports were on the upward trends of 233 percent from US$1.808 million in 2009 to US$6.034 million 2012. In the first two months of 2013, tuna exports tended to increase and till the end of Feb 2013, tuna exports to Switzerland reached US$708,818, increasing twofold against the same period of 2012. Canned tuna was Vietnam’s main exported item to the market with threefold growth in volume from 2009 through 2012, pushing proportion of exported tuna to Switzerland to 1.06 percent from 0.8 percent. Despite being small importer of tuna, Switzerland is an optimistic market for Vietnam tuna exporters.

Source: Vasep

Pangasius export price to the U.S. up to 10 percent

Friday, April 26th, 2013

Duong Ngoc Minh, Vice Chairman of Vietnam Association of Seafood Exporters and Producers (VASEP) said that the price of pangasius exported to the U.S. market has increased to US$3.56 per kilogram for standard products and US$3.75 per kilogram for high quality products, up to 10 percent (US$0.3 – 0.4) compared to the price recorded in the middle of March. At that time the DOC published its decision to raise the antidumping tax on Vietnam pangasius in the eighth administration review (POR8) The higher price of pangasius shows that the U.S. market still has high demand for pangasius imported from Vietnam. In March 2013, U.S. import of pangasius from Vietnam plunged while a recent market study reported that domestic fish inventory fell to a low level. U.S. buyers were pushed to import more pangasius to supply the market. Mr. Minh predicted that import would recover in April. Export price is expected to increase by US$0.1 – 0.15 per kilogram in the third quarter of 2013 due to short supply of pangasius and rising price of other species in the U.S. market. In the first two months of this year, the U.S imported 29,2 million pounds of frozen pangasius fillet from Vietnam, 18.6 percent down over the same period of last year.

Source: Vasep

Pangasius exporters to seek a lawsuite to CIT against the DOC’s final decision of POR8.

Monday, April 8th, 2013

In March 20th, 2013, representatives from 16 pangasius companies subjected to the antidumping duty on frozen pangasius fillets gathered and reached an agreement to sue the U.S. Department of Commerce (DOC) over the Court of International Trade (CIT), according to Truong Dinh Hoe, General Secretary of Vietnam Association of Seafood Exporters and Producers (VASEP). VASEP are studying all options to file the lawsuit. The Association focuses on the DOC’s unfair decision in selecting Indonesia instead of Bangladesh to be surrogate country to value inputs of Vietnam raw pangasius used in processing. VASEP requires the DOC to reconsider its new antidumping duty, which is at unreasonably high level, because it will hurt Vietnamese pangasius companies and the fish industry as well. In the final results, the DOC based its valuation of whole live fish prices – the primary input in the fish fillet case – on one Indonesian government pricing study which was not based on actual prices, but on calculated national averages from a handful of districts. So it is also reviewing calculations before the official announcement in Federal Register.

Source: Vasep

Vietnam Tuna Export, Jan – Feb 2013

Monday, April 8th, 2013

Source: Vasep