Sunday, March 26, 2023 11:04:49 PM - Markets open
VN-INDEX 1,046.79 +1.69/+0.16%
HNX-INDEX 205.72 +2.40/+1.18%
UPCOM-INDEX 76.17 0.00/0.00%
Tuna becomes billion-dollar export for first time: VASEP
VietNam+ - 1/21/2023 10:21:21 PM
 (0 ratings. You must sign in to rate.)
Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.
 
Tuna products of Vietnam were shipped to 99 markets, of which the US, the EU, members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Israel, Thailand, Saudi Arabia, Russia, the Philippines, and Egypt were the largest importers, accounting for 92% of total exports, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
 
Germany, Spain, and Belgium were the biggest EU buyers of Vietnamese tuna. Notably, shipments to Germany and Spain shot up 161% and 117% last December, respectively.
 
Tuna exports to Japan, a CPTPP member, grew fast in the last quarter of 2022. The value surged 131% year on year in December alone, helping raise the export turnover to CPTPP markets to nearly 136 million USD, up 48%.
 
Meanwhile, strong declines were recorded in shipments to many other markets, VASEP said, noting that after dropping in November, tuna exports to the US fell by another 38% in December. However, last year’s exports to this market still rose 44% to approximate 487 million USD.
 
VASEP forecast the export in the first quarter of 2023 will be unable to sustain its 2022 performance, but markets may recover in the latter half of this year. Free trade agreements are the driver for tuna exports in the year’s beginning./.
 
Newer News
24/03 Steel price rises despite falling demand
24/03 Health and vehicles to be main growth drivers for non-life insurers in 2023
24/03 Conference to promote trade and cooperation between Việt Nam and Mexico
22/03 Investors voice concerns over unresolved pricing for renewable projects
21/03 US businesses exploring investment, business opportunities in Việt Nam
21/03 Imported cars should be included in registration fee reduction scheme
20/03 US businesses exploring investment, business opportunities in Việt Nam
17/03 Trade recovers strongly since reopening
17/03 Dual opportunity for Việt Nam in offshore wind industry development
16/03 Tra fish exports predicted to recover from third quarter
Older News
18/01 Weakening demand continues to dog Vietnamese firms
18/01 Enterprises expect State to provide more support to reform business environment
18/01 Forest exports target $17.5 billion
16/01 A difficult year ahead but there is room for economic growth
11/01 Standard Chartered forecast Việt Nam 2023 GDP growth at 7.2 per cent
11/01 IMF commends Việt Nam’s macro-economic stabilisation policies
09/01 Việt Nam affirms position in international integration
09/01 Hong Kong firms seek more cooperation opportunities in Việt Nam
04/01 Environmental fuel tax to stay fixed until the end of the year
04/01 Seafood exports reach record $11b in 2022, challenges ahead
 
Newsletter Signup
Top Stories
Steel price rises despite falling demand
Central bank makes first rate cut since 2020 to support economic growth
Domestic investors open less than 100,000 new accounts in the first 2 months
MSN: Masan secures up to $650m syndicated loan, redeems $126.3m bonds
Shares climb for third straight session
Market Update
Last updated at 3:05:00 PM
VN-INDEX 1,046.79 +1.69/+0.16%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.