Image: Stockfile FIS

Vietnam exports tuna to 80 markets

VIET NAM
Wednesday, March 27, 2024, 07:00 (GMT + 9)

In February 2024, Vietnam's tuna exports did not maintain the same growth momentum as in the first month of the year, down 11% over the same period, reaching nearly 52 million USD. However, this decrease is due to the Lunar New Year holiday in February this year. Cumulatively in the first 2 months of the year, tuna exports reached more than 131 million USD, an increase of 21%.

Canned tuna exports increased sharply

Source Stockfile FIS -->

According to statistics from Vietnam Customs, Vietnam's exports of tuna product groups as of the end of February all increased over the same period, except for frozen tuna meat/loin code HS03034 and frozen steamed tuna loin. However, exports of this product group only decreased slightly over the same period, 1% and 3% respectively.

Meanwhile, exports of canned tuna increased sharply by 53%. The proportion of canned tuna exports in Vietnam's total tuna export turnover is also increasing, and is at nearly the same level as frozen tuna meat/loin products.

Exports to major markets mostly decreased

Source: Vasep

This year, Vietnamese tuna export businesses have made efforts to expand the tuna export market right from the beginning of the year. In the first 2 months of the year, tuna products were exported to more than 80 markets, compared to 70 markets last year.

<-- Source Stockfile FIS

After increasing sharply in the first month of the year, tuna exports to most markets decreased in February. But besides that, there were also some markets with positive high growth in February.

In the US market, tuna exports to this market, after increasing sharply in January, decreased slightly by 8% in February. However, while exports of tuna product groups to the US market decreased in February. , Canned tuna exports continue to grow well.

Along with the US, tuna exports to the EU are also declining in February, down 16% over the same period. Notably, while tuna exports to Germany and the Netherlands decreased, tuna exports to Italy or Poland increased sharply over the same period.

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Meanwhile, tuna exports to countries in the market block participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are continuing to grow. Notably in this market block, tuna exports to Canada and Chile are increasing rapidly in February, 146% and 116% respectively.

Currently, tuna exports are still in a difficult period because the IUU yellow card issue has stalled the work of certifying and certifying exploited seafood for export to the EU. Enterprises lack domestic raw materials and are facing difficulties with raw materials.

In addition, in March and April, major international seafood fairs take place in Boston, USA and Barcelona, Spain. It is expected that there will be more positive results for tuna businesses after these fairs.

Author: Nguyen Ha | Vasep (Translated from the original in Vietnamese)

editorial@seafood.media
www.seafood.media

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