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US canned tuna imports revived thanks to Covid-19

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Thursday, May 21, 2020, 17:00 (GMT + 9)

VASEP,  the Vietnam Association of Seafood Exporters and Producers,  reports that after the decline in 2019, canned tuna imports into the US had a recovery in the first quarter of 2020, showing a more positive trend in importing this item of the US in this year.

According to US National Oceanic and Atmospheric Administration (NOAA) statistics, the country's canned tuna imports in the first three months of 2020 reached 44,341 tons, up 20% over the same period in 2019. This import volume is the highest in the past 5 years, 7,200 tons higher than the second highest import level, Q1 / 2019.

Photo: Stockfile

From 2016, after the first quarter, we can see the trend of importing canned tuna into the US, due to the single tariff quota limit for light meat tuna applied from January 1 until the expiry date. rank. In 2019, this quota is 14,945 tons.

The first cause is the impact of the ongoing Covid-19 pandemic in the United States and some other countries that has resulted in increased demand for canned tuna. However, it is worth mentioning that most imports in the first 3 months of 2020 are for transactions that were signed at least a few months earlier. Earlier, the skipjack tuna in Thailand - the largest supplier of canned tuna to the US market - traded at a record low of US $ 900 / ton, mainly due to good catches and High inventory. This obviously caused the average FOB price of US canned tuna imports in the first quarter of 2020 to be 9% lower than the same period last year.

Photo: Stockfile

Thai tuna processors dominate the US tuna market, accounting for 60% market share in this market. In the first quarter of 2020, Thailand exported more than 4,500 tons of canned tuna, at a cheaper price of US $ 600 compared to the same period last year.

Meanwhile, canned tuna exports from Vietnam, the second largest supply, decreased slightly over the same period. Vietnam's canned tuna products exported to the US tend to increase compared to the same period last year, and have the second highest average price out of the 10 sources of canned tuna for this market.

Indonesia is the country with the highest export growth rate among the top 10 sources of canned tuna for the US market. In the first quarter of 2020, Indonesia exported about 355 20ft containers to this market, an increase of 50% over the same period last year. Another country that is also significantly increasing exports to the US is Mexico. This neighboring country has increased 50% of its shipments to the US market compared to the same period last year.

On the other hand, Philippines canned producers, which are trying to maintain their market share in this market, have experienced the sharpest decline of 29% compared to the same period in 2019. Other processors also have their market share reduced. in the US market during this period were Spain and Korea.

Canned tuna products imported from Korea to the US are the most expensive, while Mexican products are more competitive.

Notably, Ecuador's canned tuna export, the world's second largest and leading supplier of canned tuna to the EU, was holding a modest market share in the US market during this period. Export of canned tuna to the US tends to decrease in both volume and value. However, Ecuador is dominant in the segment of bagged tuna products.

Author: Nguyen Ha / VASEP

editorial@fis.com
www.fis.com


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