Top 6 largest Vietnam’s seafood products exports to the EU market
MEKSEA.COM – Do you know the top 6 largest Vietnam’s seafood products exports to the EU market? Now let’s explore with Meksea.
After a year since the EVFTA came into effect, Vietnam’s seafood exports to the EU have seen many positive changes. The seafood products preferential from EVFTA become the preferred choice for EU exporters due to their competitive prices. In the last months of 2021, seafood consumption demand in the EU is tending to recover. Moreover, tariff incentives from the EVFTA increase Vietnam’s seafood products competitiveness in the EU market
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Top 1: Black Tiger Shrimp and Vannamei shrimp
EU is the second-largest shrimp import market of Vietnam. In 2021, Vietnam’s shrimp exports to the EU market have recorded a good growth rate.
Vietnam’s key seafood products exports to the EU market such as frozen PD black tiger shrimp, frozen Nobashi vannamei, frozen fresh HLSO vannamei, frozen Nobashi vannamei, vannamei, peeled, frozen processed sushi, Frozen PD fresh black tiger shrimp, frozen processed sushi white shrimp, frozen fresh black tiger shrimp, PTO headless black tiger shrimp, fresh frozen, frozen PD black tiger shrimp.
According to the International Trade Commission (ITC), in the first eight months of 2021, shrimp imports into the EU reached $4.4 billion, up 16% over the same period last year.
Besides, the three main shrimp import markets of Vietnam in the EU are Germany, the Netherlands and Belgium, Vietnam’s shrimp exports to France and Spain increased by 32% and 28% respectively in the first 8 months of this year.
Top 2: Tuna
According to the statistics of the General Department of Vietnam Customs, Vietnam’s tuna exports to the EU market increased sharply in the first half of 2021. Tuna products account for 15.2% of the total value of Vietnam’s seafood exports to the EU.
Tariff incentives from EVFTA have created a competitive advantage for Vietnam’s seafood in the EU market. Eliminating tariffs by EU on fresh and frozen tuna products (except frozen and tuna loins/fillets) as soon as the EVFTA comes into effect.
Read more: Vietnam’s tuna exports to the EU see strong surge thanks to EVFTA
As for frozen tuna loin/fillet products, the EU will eliminate tariffs for Vietnam in a 3-year roadmap, from the basic tax rate of 18%. With steamed tuna loin/fillet products (raw materials for canned tuna production), the EU will eliminate tariffs for Vietnam depending on a 7-year roadmap, from the basic tax rate of 24%. Particularly for canned and processed tuna products (tuna in vegetable oil, canned tuna, etc.), the EU will exempt Vietnam from tax within a quota of 11,500 tons per year.
Top 3: Squid and octopus
EU is the 4th largest market for importing cephalopods from Vietnam. Despite being affected by covid-19, according to VASEP, as of October this year, exports of squid and octopus to this market reached US$48.9 million, up 27% over the same period last year.
Read more: Vietnam’s cephalopod exports to the EU increased by 39%
Among EU countries, Italy, France and Spain are the three biggest importers of Vietnamese squid and octopus.
According to ITC, the EU market is currently importing squid and octopus from more than 50 countries outside the bloc. In which, Vietnam is the 7th largest supplier of squid and octopus to the EU market.
Top 4: Clam and bivalve
The EU is the largest import market for Vietnam’s bivalve mollusks. As of the first half of November 2021, Vietnam’s bivalve mollusk exports to the EU reached 73.7 million USD, up 38.5% over the same period last year. Italy, Spain and Portugal are the three largest import markets for Vietnamese bivalve mollusks in the EU. In which, as of mid-November this year, the export of Vietnamese bivalve mollusks to the French market increased by 191%.
The major bivalve mollusk products exported to Italy include frozen whole brown clams, frozen boiled brown clams, frozen boiled white clams, frozen steamed silk clams, and frozen processed clam meat. ..
Notably, in November this year, Vietnam successfully exported the first container of canned clam meat to the EU. This is a good sign that we have controlled the farming area, source of raw materials, modern production and processing processes to ensure quality to meet the strict standards of the markets.
Top 5: Surimi
Surimi is also one of the favorite products in the European market. In the first half of 2021, surimi exports to the EU reached 3.19 million tons, up 38.2% over the same period in 2020.
Surimi exports also increased sharply. Surimi is a product with a quota of 500 tons and is taxed at 0% annually according to the EVFTA commitment. Surimi exports in the first 6 months of the year to the EU reached 3.19 million USD, up 38.2% over the same period in 2020.
Top 6: Snail
Although snail exports were not high compared to shrimp, squid, clams and tuna, they also reached 179,000 USD. Vietnamese snails are increasingly popular and the preferred choice of many EU seafood importers.
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By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
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