Vietnam’s tuna exports drop sharply in August

Hanoi (VNA) – Vietnam earned nearly 49.4 million USD from tuna exports in August, a fall of 19 percent year-on-year, according to the General Department of Vietnam Customs.

The country’s export revenue to major markets also declined in the month, such as the US (down nearly 26 percent), the EU (28 percent) and member nations of the Comprehensive and Progressive Agreement for Trans-Pacific (CPTPP) (4.3 percent).

Of the EU and CPTPP markets, only Spain and Mexico saw rises in Vietnam’s tuna exports, the department said.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said the result had been forecast as many cities and provinces, especially those in the southern region, have met difficulties in production and processing due to the imposition of social distancing measures given the spread of COVID-19.

Domestic firms have yet to recover their operations although there are opportunities to export to the US and the EU in the remaining months of the year.

Between January and August, Vietnam’s tuna exports still grew nearly 13 percent year-on-year to reach nearly 470 million USD thanks to the growth in the first months of the year and sound instructions of the Ministry of Agriculture and Rural Development.

The country exported 15,870 tonnes of tuna worth 73.33 million USD to the EU in the first half of 2021, up 39.3 percent and 31.6 percent, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT).

The tuna shipments accounted for about 15.1 percent of Vietnam’s total seafood export value to the EU.

In the second quarter of 2021, the country shipped 9,360 tonnes of tuna to this market, raking in 45.05 million USD, up 43.9 percent in volume and 59.3 percent in value from the previous quarter.

The surges were attributed to tariff reductions granted to Vietnam’s tuna products under the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020./.