Tuna exports reached nearly 808 million USD in the 9 months of 2022. It is forecast that this commodity can bring in one billion USD this year.

According to the Vietnam Seafood Processing and Export Association, in the 9 months of  2022, Vietnam’s tuna exports reached nearly 808 million USD, up 55% compared to the same period in 2021. On average, this commodity reaches a turnover value of more than 100 million USD per month.

Ms. Nguyen Ha, a tuna market expert (VASEP) said that the US continues to be the largest tuna export market with sales in September reaching over 31 million USD, up 33% compared to the same period.

Tuna exports to CPTPP countries in the past 9 months continue to increase by 95% over the same period, reaching nearly 11 million USD. Tuna exports to the EU have brought in nearly 18 million USD over the past 9 months, up 64% over the same period.

The tuna export is forecast to bring in one billion USD in 2022. (Photo: VASEP)

“This year, due to the high cost of sea freight, EU canning companies do not want to ship their goods through Rotterdam port in the Netherlands. This shall increase the cost of their CFR invoices. (In CFR transactions, the seller must sign a contract for sea freight and pay freight to ship the goods to the destination port; obtain export permits, pay export taxes and fees; deliver the goods on board; provide the buyer with invoices and sea bill of lading; pay the cost of loading the goods on board; pay the cost of unloading if this cost is included in the freight).

Therefore, Vietnam’s tuna exports to EU markets such as Belgium and Germany tend to increase sharply. Specifically, in September, tuna exports to Belgium increased 199%, while to Germany increased 48% compared to the same period last year, ” Ms. Nguyen Ha informed.

Also according to VASEP, in the 9 months of 2022, Vietnam’s top 6 largest tuna export markets include the US (405 million USD), Canada (43 million USD), Japan (31 million USD), Israel (26 million USD), Saudi Arabia (23 million USD), and Thailand (20 million USD).

However, currently, due to high inflation in some countries, the demand for tuna imports in some main markets is slowing down. In particular, tuna exports to the US in September were 14% lower than in August; tuna exports to the CPTPP market in September were 32% lower than in August 2022, etc.

Although the growth rate has slowed down compared to previous months, Vietnam’s pork (loin along the spine) and frozen tuna code HS0304 exports are still high. Cumulatively in the first 9 months of the year, the export value of this group increased by 99% compared to the same period. Canned tuna exports increased by 6% and other processed tuna by 18%.

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