According to the Vietnam Association of Seafood Exporters and Producers (VASEP), by the end of October 2023, Vietnam’s seafood exports decreased by 21% compared to the same period in 2022, reaching 7.4 billion USD. The export value of seafood products is lower than in the same period last year.

Catfish is leading in the export value of seafood products with 1.5 billion USD, which is down 29% over the same period last year. Followed by shrimp with 2.8 billion USD, down 24%. Tuna ranked third in terms of export value with 693 million USD, down 22% over the same period last year.

Particularly for tuna exports, the 10-month decrease was shortened compared to 9 months (from 24% to 22%).

The top 5 markets importing Vietnamese tuna are the US, Israel, Thailand, Japan, Canada, and Germany, respectively. In this top, tuna exports to Israel, Thailand, and Germany have seen good growth. The exports to the US, Japan, and Canada all declined sharply, especially the leading import market, the US, down 41% in 9 months of 2023.

In the US market, tuna exports did not maintain their growth momentum in August. The value of tuna exports to this market decreased slightly by 1% in September. Therefore, in the first 09 months of 2023, the export turnover of tuna to this market decreased by more than 41% over the same period last year.

Although it does not account for a high proportion, tuna exports to Poland have grown quite well. Accumulated in 09 months, tuna exports to this market increased by 125% over the same period in 2022, reaching more than 04 million USD. 

Within the European Union (EU), Poland is the 7th largest tuna export market. This country’s tuna imports have tended to grow continuously in the past 5 years. This will be an opportunity for Vietnamese tuna to conquer this market.

Especially, Vietnam is the third-largest supplier of tuna outside the block for the Polish market, after Ecuador and the Philippines. While the Philippines’ exports to this market have continuously decreased, Vietnam’s tuna exports are increasing.

Among tuna products exported to Poland, canned tuna accounted for the largest proportion 83% and compared to the same period last year, this product group increased sharply by 211%.

According to enterprises, one of the reasons for the sharp increase in canned tuna exports to this market is the impact of inflation. Besides, prices increase in the supply chain (such as the price of vegetable oil, cans, and carton packaging all increased sharply), so EU importers tend to increase direct imports.

Tuna exports to the UK market over the past 09 months increased by 48% over the same period last year, reaching more than 5.5 million USD. However, in recent months, it has decreased quite a bit.

Vietnam exports the most frozen tuna meat/loin HS code 0304 to the UK market, accounting for more than 94% of the total export turnover. Compared to the same period in 2022, Vietnam’s exports of fresh and frozen tuna to the UK are increasing sharply.

Currently, Vietnam is the 13th largest tuna supplier in this market, with a very small proportion of 1%. According to enterprises, the UK requirements for fishing products are equivalent to the EU, while Vietnam’s fisheries are subject to the “yellow card” of the European Commission (EC), so the competitiveness of Vietnamese tuna in the UK market is low.

For Canada, tuna exports in September increased by 44% over the same period, cutting the decrease momentum of 08 consecutive months. Over 03 quarters of 2023, tuna exports to this market reached nearly 23 million USD, down 47% over the same period last year.

VASEP said that tuna exports to the Canadian market will not fully recover in the coming months, especially in the context of increasing consumer credit debt of Canadians, people will tighten their spending./.

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