China - Hong Kong Market
By the end of May 2022, the total export value of Tra fish to this market will have surpassed 317 million USD, representing a 124% increase over the same period last year. The race to stop Covid-19 in a number of hot spots, including Shanghai, major cargo ports, and factory closures, has had an impact on the global supply chain as well as the country's internal goods chain. As a result, China's imports of white fish fell sharply in the first quarter of 2022, with pollock imports from Russia falling by 60%. However, Tra fish exports to China - Hong Kong will continue to grow in the triple digits until the end of May 2022. Currently, the average price of Tra fish fillets exported to China ranges from 3.15-3.25 USD/kg, which is 0.5 USD/kg higher than the same period last year. Currently, nearly 100 Vietnamese Tra fish enterprises are exporting to the China - Hong Kong market.
The total value of Tra fish exports to the United States reached 310 million USD in the first five months of 2022, an increase of 131%. In particular, the export value of Tra fish to this market increased 114% to $ 69 million in May 2022. The United States Food Safety and Inspection Service (FSIS) - the United States Department of Agriculture - issued a notice in mid-May 2022 to recognize six more Vietnamese Tra fish processing factories that are permitted to process and export Vietnamese Tra fish products. Tra fish products are now on the market in the United States, bringing the total number of recognized factories to 19. Tra fish exports to the US market have remained stable thus far. According to the most recent ITC statistics, by the end of April 2022, the price of frozen Tra fish imported from Vietnam to the United States had reached a new high of nearly 5 USD/kg, up from the same period last year around 2 USD/kg. Prices have risen at an unprecedented rate in the last three years.
In the first five months of this year, frozen Tra fish exports to Mexico, Canada, Australia, and Japan increased. CPTPP will be the second largest export market for Vietnamese Tra fish exporters by the end of May 2022 (after China - Hong Kong and the US). The demand for importing Tra fish from CPTPP countries has increased for 5 consecutive months, totaling USD 146.5 million, a 64% increase over the same period last year. In which, Exports to Mexico increased by 71% to 51.8 million USD; Canada increased by 86% to 27.5 million USD; Australia increased by 29% to 16.5 million USD; and Japan increased by 64% to 14.6 million USD. It is expected that frozen Tra fish exports to this market will increase by more than 35% in the second quarter of 2022, reaching approximately 110 million USD.
Mexico accounts for the largest proportion in the CPTPP market group
Many Vietnamese seafood enterprises are promoting Tra fish exports to Mexico, including Tra fish processing enterprises in Dong Thap, An Giang, Ben Tre, Can Tho, and Vinh Long. Tra fish exports to this market make up a large portion of the CPTPP market group. It is estimated that Tra fish exports to Mexico will account for 35% of the total value of the bloc in the first half of 2022. Currently, Vietnam exports to Mexico primarily two Tra fish products: frozen Tra fish fillets and frozen cut fish.
The average export price of frozen Tra fish fillets to the Mexican market has increased from 2.6-2.75 USD/kg as of the first half of May 2022. Many Tra fish businesses have decided to relocate from other markets to the Mexican market. More than 30 Vietnamese seafood enterprises exported Tra fish to Mexico in the second quarter of 2022. The two enterprises with the largest export value are: I.D.I Multinational Development and Investment Joint Stock Company and Vietnam Fish Company Limited.
According to preliminary statistics, the Top 10 Vietnamese Tra fish enterprises exporting to the Mexican market include: Co May Import-Export Co., Ltd; Thanh Dat Food Service and Trading Company Limited; Dai Thanh Company Limited; Vietnam Fish Company Limited; Hung Ca Company Limited; Hai Sang Seafood Joint Stock Company; Truong Giang Seafood Joint Stock Company; Truong Phat Seafood Joint Stock Company; I.D.I Multinational Development and Investment Joint Stock Company; Tran Han Company Limited.
In addition to the three major export markets mentioned above, Tra fish exports to the EU, Thailand, Brazil, the United Kingdom, Colombia, and Egypt increased significantly in the first five months of 2022. Total export value to the EU increased by 89% to 88.6 million USD; to Thailand, by 85%; and to Brazil, by 51%, etc.
Export prices are good and stable, while domestic raw material prices have decreased slightly, ranging from 31,500-32,000 VND/kg, a 500 VND decrease. However, the average price of commercial fish is expected to remain stable in the coming months due to high demand in many export markets.
Le Mai (theo tongcucthuysan.gov.vn)