After a long period of decline, tuna exports increased again when all major markets such as the US or EU recorded high growth. This is good news for seafood exports and the fishery industry.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after many months of decline, for the first time in 2023, Vietnam’s tuna export value is “green”. Statistics of the General Department of Customs show that tuna exports in November 2023 reached nearly 79 million USD, up 23% over the same period last year. Accumulated in 11 months of 2023, Vietnam’s tuna exports reached 772 million USD, down 19% over the same period in 2022. Vietnam’s tuna products are exported to 110 countries around the world.
Ms. Nguyen Ha – a tuna market expert of VASEP said that Vietnam’s canned tuna exports have stabilized and maintained growth since September. Particularly in November 2023, canned tuna exports increased by 51% over the same period in 2022. This increase has contributed to raising the total export turnover of canned tuna in 11 months of 2023 to nearly 235 million USD, up 10% over the same period in 2022.
Tuna exports to the US and EU continue to grow.
Inflation in major markets is decreasing. The year-end festive season is approaching and to prepare for the restart of quotas in the new year, major tuna markets tend to increase tuna imports in the last months of the year. Not only the US and Canadian markets, tuna exports to the EU and Israel also increased in November.
Specifically, in the US, tuna exports continued to grow in November with an increase of 19% over the same period last year. Among products exported to the US, exports of processed and canned tuna products tend to grow continuously in the second half of the year. Notably, by the end of November 2023, exports of processed tuna products, mainly frozen steamed tuna, increased by 23%.
In addition to the US, tuna exports to Canada have also grown in the past two months. In November alone, export turnover to this market increased sharply with an increase of 117% over the same period last year. Among the tuna product groups exported to Canada, canned tuna and frozen tuna (HS code 0304) are the two groups with high growth rates. The export value of frozen tuna products increased three times compared to November 2022, while canned tuna increased two times.
The drought in the Panama Canal has hindered the supply of tuna from Ecuador to the EU market. Besides, to catch up with the restart of preferential tariff quotas under the EU-Vietnam Free Trade Agreement (EVFTA) in 2024, orders from this market have increased. In November 2023, tuna exports to the EU increased by 64% over the same period last year. Among EU countries, Italy continues to increase its imports from Vietnam. At the same time, tuna exports to Germany reversed to increase in November.
“With this situation, tuna exports will continue to increase in December, especially in major markets such as the US, EU, and Canada,” said Ms. Nguyen Ha./.
