Vietnam would continue to decrease tuna's export value in the secondquarter of this year, partly due to its falling price on the worldmarket, the Vietnam Association of Seafood Exporters and Producers(VASEP) forecast.
According to the association, the export valueof tuna is expected to see a year-on-year reduction of 5 percent to 123million USD in the second quarter.
The decline can be partlybecause of a drop in tuna price on the world market to under 1,000 USDper tonne, while the global output of tuna is expected to increase, theassociation said.
The other reasons for the decline include theweak Yen and Euro against the US dollar and a lower demand for tuna inVietnam's major export markets, Vietnam Trade Promotion Agency reported.
Inthe first four months of this year, Japan, one of the top three tunaexport markets of Vietnam, dropped to the fourth place, after the US,the European Union, and the ASEAN market, because the export value ofVietnamese tuna to Japan dropped 38 percent compared with the sameperiod of last year.
However, the tuna exports from Vietnam tothe US recorded a year-on-year increase of 3 percent to 58 million USDin the first four months, the association said.
The associationexpects that the tuna exports to the US will continue to increase incoming months to recover the national tuna export value for this wholeyear. The US market holds 40 percent of Vietnam's total tuna exportvolume, the Thoi bao Kinh te Vietnam (Vietnam Economic Times) newspaperreported.
The VASEP also believes that Russia will emerge as oneof Vietnam's potential tuna export markets in future, as the free tradeagreement signed between Vietnam and the Eurasian Economic Union (EEU)on May 29 will create favourable conditions for Vietnamese fisheriesexports to Russia, including tuna, to jump sharply.
Over the past few years, Russia has been one of the major export markets of Vietnamese fisheries, the association pointed out.
TranThanh Hai, Deputy Head of the Export Import Department under theMinistry of Industry and Trade, noted that three sectors - fisheries,garment and footwear - can gain many advantages from the free tradeagreement with EEU as it has zero import tariffs.
According tothe General Department of Customs, the export value of Vietnamese tunato Russia had a year-on-year surge of 218.4 percent to 1.65 million USDin the first four months of this year.
Meanwhile, the World TradeCentre's statistics show that Vietnam was the third largest tunaexporter to Russia in the first quarter of this year, after Thailand andChina.-VNA
According to the association, the export valueof tuna is expected to see a year-on-year reduction of 5 percent to 123million USD in the second quarter.
The decline can be partlybecause of a drop in tuna price on the world market to under 1,000 USDper tonne, while the global output of tuna is expected to increase, theassociation said.
The other reasons for the decline include theweak Yen and Euro against the US dollar and a lower demand for tuna inVietnam's major export markets, Vietnam Trade Promotion Agency reported.
Inthe first four months of this year, Japan, one of the top three tunaexport markets of Vietnam, dropped to the fourth place, after the US,the European Union, and the ASEAN market, because the export value ofVietnamese tuna to Japan dropped 38 percent compared with the sameperiod of last year.
However, the tuna exports from Vietnam tothe US recorded a year-on-year increase of 3 percent to 58 million USDin the first four months, the association said.
The associationexpects that the tuna exports to the US will continue to increase incoming months to recover the national tuna export value for this wholeyear. The US market holds 40 percent of Vietnam's total tuna exportvolume, the Thoi bao Kinh te Vietnam (Vietnam Economic Times) newspaperreported.
The VASEP also believes that Russia will emerge as oneof Vietnam's potential tuna export markets in future, as the free tradeagreement signed between Vietnam and the Eurasian Economic Union (EEU)on May 29 will create favourable conditions for Vietnamese fisheriesexports to Russia, including tuna, to jump sharply.
Over the past few years, Russia has been one of the major export markets of Vietnamese fisheries, the association pointed out.
TranThanh Hai, Deputy Head of the Export Import Department under theMinistry of Industry and Trade, noted that three sectors - fisheries,garment and footwear - can gain many advantages from the free tradeagreement with EEU as it has zero import tariffs.
According tothe General Department of Customs, the export value of Vietnamese tunato Russia had a year-on-year surge of 218.4 percent to 1.65 million USDin the first four months of this year.
Meanwhile, the World TradeCentre's statistics show that Vietnam was the third largest tunaexporter to Russia in the first quarter of this year, after Thailand andChina.-VNA
