After overcoming challenges related to tuna size regulations and market volatility, Vietnam’s tuna exports are recovering and expanding in key markets.
Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Vietnam’s fishery exports reached 866 million USD in September, bringing the total for the first nine months of 2024 to 7.16 billion USD, a year-on-year increase of 8.5%, the Vietnam Association of Seafood Exporters and Producers (VASEP) has reported.
Quy Nhon coastal city in Binh Dinh province is blessed with diverse and abundant seafood, especially tuna. Known as the "spotlight of the sea," tuna is versatile in many culinary preparations, but its unique delicacy, the tuna eyeball, stands out.
Thailand exported 221,092 tonnes of canned tuna in the first five months of 2024 with a value of 978.58 million USD, up 19.39% in volume and 13.40% in value compared to the same period last year.
Tuna exports are projected to reach 456.8 million USD in the first half of 2024, a year-on-year increase of 20%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam shipped an estimated 3.6 billion USD worth of fishery products abroad during January-May, a year-on-year increase of 6.5%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
China, the US and Japan were the three largest importers of Vietnam’s fishery products in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The exports of Vietnam’s aquatic product posted positive growth in the first quarter of this year, bringing hope for the entire seafood industry, including processed tuna products.
Vietnam's aquatic product exports could reach 9.5 billion USD in 2024, said Nguyen Thi Thu Sac, Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Middle East has become the fourth largest importer of Vietnamese tuna, behind only the US, the EU, and the CPTPP market, accounting for nearly 10% of Vietnam’s total tuna export turnover, the Vietnam Association of Seafood Exporters and Producers (VASEP) has said.
Vietnam’s tuna exports to the UK in the remaining months of this year will be positive and Vietnamese tuna still has good competitiveness thanks to the advantages that the Vietnam-UK free trade agreement brings about, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Indonesian Trade Minister Zulkifli Hasan hopes that Japan will immediately eliminate four tariff posts on canned tuna imports from Indonesia as part of the protocol to amend the Indonesia-Japan Economic Partnership Agreement (IJEPA).
Domestic tuna exporters are targeting promising small markets to get out of current difficulties amid economic fluctuations in big importing countries.
Domestic tuna exporters are targeting promising small markets to get out of current difficulties amid economic fluctuations in big importing countries.
Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.
Vietnam pocketed 890 million USD from exporting tuna in the first 10 months of this year – the highest-ever figure, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The demand for tuna in foreign markets amid the strong rise in prices of other foodstuff is predicted to lead to a surge in tuna export volume and value of Vietnam, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Tuna export turnover in 2022 is expected to reach about 1.1 billion USD, up 45% from the previous year, considering a 56% growth in the first six months of the year, according to statistics of the General Department of Vietnam Customs.