Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Photo: Illustrative by FIS

Tuna Industry and Fishermen Face Challenges as Year-End Approaches

Click on the flag for more information about Viet Nam VIET NAM
Friday, November 01, 2024, 06:00 (GMT + 9)

As year-end approaches, Vietnamese tuna processing and export businesses are struggling to secure pure-origin raw materials necessary to meet new year orders and benefit from preferential tariff quotas.

According to Ms.Nguyen Ha, Tuna Market Expert at the Vietnam Association of Seafood Exporters and Producers (VASEP), a significant cause is the grounding of numerous fishing vessels in three key tuna-producing provinces. These boats are unable to operate due to requirements set by Appendix V of Decree 37/2024/ND-CP, which restricts the capture of skipjack tuna smaller than 500 mm in length.

Tuna Price Decline Impacts Fishermen's Livelihoods

Over the past two months, tuna prices have dropped sharply, putting financial pressure on fishermen. Industry insiders report that new regulations limiting skipjack tuna catches have led to reduced demand from export businesses, further driving down prices. Under the amended Decree No. 37/2024, effective September 15, processing companies cannot receive export certificates if they purchase skipjack tuna below the 500 mm limit. This has slowed the sale of smaller skipjack tuna, causing a backlog and depressing market prices.

In several regions, skipjack tuna prices have plummeted to 19,000–20,000 VND/kg. Even with substantial catches, the cost of each fishing trip, which often reaches 200–300 million VND, leaves boat owners with little to no profit. Rising labor and operational costs add to the burden, forcing many owners to leave their boats docked. This inability to fish reduces household incomes, affecting the livelihoods of fishing communities.

According to industry reports, if these issues persist, Vietnam’s tuna processing and export sector may face critical raw material shortages.

Competitiveness of Vietnamese Tuna in Global Markets Declines

Data from Vietnam Customs shows that canned tuna is the second most exported tuna product, contributing over 30% of total export revenue. The United States, Israel, and the EU are the primary importers of Vietnamese canned tuna. However, trade agreements require that exported tuna receiving tariff reductions must be of pure origin, caught by vessels from Free Trade Agreement (FTA) member countries and processed in Vietnam.

Vietnamese canned and frozen steamed tuna loins (HS16 code) face a 24% tariff in the EU—a significant disadvantage compared to competitors like the Philippines and Ecuador, which benefit from preferential tariffs, and China, which enjoys zero tariffs under the Autonomous Tariff Quota (ATQ). This tax disparity reduces the competitiveness of Vietnamese tuna products in global markets.

While demand for export orders is rising to meet year-end and early-year holidays, domestic raw material reserves have been depleted, leaving enterprises with limited options and growing challenges in fulfilling orders.

Related News:

 

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Peru
Jul 19, 05:00 (GMT + 9):
Peru's Artisanal Fishing Sector Ushers in New Era: Enhanced Safety, Sustainability, and High Seas Representation
United States
Jul 18, 05:00 (GMT + 9):
California Fish Leather Company Joins Great Lakes Initiative to Fully Use Each Fish
Brunei Darussalam
Jul 18, 04:00 (GMT + 9):
From Backyard Dream to National Vision: Fatih Aquaculture Leads Brunei's Sustainable Seafood Future
European Union
Jul 18, 01:40 (GMT + 9):
Fisheries Alarm: EU Budget Proposal Threatens Devastating Cuts for Fisheries, Sector Organizations Warn
Spain
Jul 18, 01:00 (GMT + 9):
Alarm in Vigo: Proposed 67% Cut in European Funds Threatens Future of Spanish Fisheries
Ghana
Jul 18, 00:10 (GMT + 9):
Ghana Parliament Passes Landmark Fisheries Bill to Combat IUU Fishing and Boost Sustainability
Malaysia
Jul 18, 00:10 (GMT + 9):
Camaroe Gears Up for ACE Market Debut, Poised to Expand Prawn Production
Japan
Jul 18, 00:10 (GMT + 9):
Daiwa Can Company Revolutionizes Canned Food with 'Microwave Can' Technology
Japan
Jul 18, 00:00 (GMT + 9):
Other media | MundoAcuicola: Global Marine Ingredients Conference to be held in Tokyo in October
Spain
Jul 18, 00:00 (GMT + 9):
Other Media | Faro de Vigo: The cut to EU funds jeopardizes the viability of Galician fishing
Greece
Jul 18, 00:00 (GMT + 9):
Other Media | Fish Focus: Innovasea names new Managing Director for the Greek office
South Africa
Jul 18, 00:00 (GMT + 9):
Other Media | SeafoodSource: MSC funds net-recycling project within South Africa’s hake trawl fishery
Uganda
Jul 18, 00:00 (GMT + 9):
IN BRIEF - Record Breaking Figures at World Aquaculture Safari 2025 Conference Uganda
Russian Federation
Jul 17, 06:00 (GMT + 9):
Russian Fishermen Exceed 2.6 Million Tons in Aquatic Bioresources Catch
Japan
Jul 17, 06:00 (GMT + 9):
Kyokuyo campaign to increase employee fish consumption: 'If you're a seafood company, eat fish!'



Lenguaje
FEATURED EVENTS
  
TOP STORIES
California Fish Leather Company Joins Great Lakes Initiative to Fully Use Each Fish
United States Aquaborne becomes 43rd signatory to the 100% Great Lakes Fish Pledge, advancing circular design through fish leather innovation Photo: Aquaborne (Sacramento, CA)—Aquaborne, an industrial fis...
Mitsubishi Leads Global Tuna Market Towards Sustainability with Stricter Sourcing Rules
Japan As the world's largest raw tuna supplier, Japan's Mitsubishi Corporation has updated its procurement guidelines, significantly enhancing traceability and supply chain compliance. The move, announced o...
Global Tuna Market Set for Transformation in 2025: Sustainability, Transparency Drive New Era
Viet Nam With consumer demand stable, the global tuna market is undergoing a significant shift. Increasingly stringent requirements for sustainability, traceability, and quality are forcing exporting and impor...
Crisis in Argentina's Shrimp Fishery: Freezer Fleet on the Ropes Amid Wage Dispute
Argentina An agreement on basic wages eased one part of the conflict, but the main battle in Argentina's freezer trawler fleet persists. While industry chambers propose a 22% wage reduction due to unprofitabili...
 

Umios Corporation | Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Aquaculture Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2025 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER