| Vietnam's tuna exports decrease in many major markets. Tuna exports to the EU market reach 133 million USD. |
According to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's tuna exports by the end of August earned 648 million USD, a sharp increase of 19% over the same period last year.
In terms of markets, the four markets that are importing the most tuna from Vietnam are the US, EU, Israel and Russia. Of which, the US spent more than 243 million USD importing tuna from Vietnam, up 17% over the same period last year. The EU ranked second with 140 million USD, up 22%. Israel ranked third with more than 48 million USD, up sharply 47% over the first 8 months of 2023.
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| In 8 months, Russia spent 29 million USD to import tuna from Vietnam, a sharp increase of 90% compared to the same period in 2023. Photo: Gia Linh |
Russia is the market that is witnessing a sharp increase in Vietnam's tuna imports among the main markets, ranking 4th with 29 million USD, up 90% over the same period last year. Among Vietnam's tuna products exported to Russia, frozen tuna meat/loins are the main products, accounting for 75% of total export turnover.
In 2023, Vietnam had more than 15 enterprises participating in exporting tuna to the Russian market. Of which, Tuna Vietnam, Hai Trieu and AHFishco were the three leading companies in exporting tuna to Russia, accounting for more than 61% of total export turnover.
The tariff incentives after our country signed the Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEUFTA) in 2015 have helped Vietnamese seafood products, including tuna, to have great competitiveness in this economic market, especially the Russian market.
Specifically, Vietnam is currently the third largest tuna supplier to the Russian market after China and Thailand. While the main export item is frozen tuna meat/loin code HS030487 of Vietnam, which is exempted from tax when exported to Russia according to the agreement in VN-EAEUFTA, products from China and Thailand are subject to a tax of 3.8%.
According to VASEP, the transportation of goods from Vietnam to Russia is now more convenient. Russian shipping corporations have opened a direct shipping route from Ho Chi Minh City - Hai Phong - Vladivostok and a number of other shipping lines have opened new routes, helping to transport goods faster, with shorter shipping times.
Currently, skipjack tuna is the main raw material for processing and exporting canned tuna in Vietnam. In 2023, canned tuna exports accounted for over 30% of Vietnam's total tuna export turnover, reaching nearly 255 million USD, up 9% over the same period.
Raw materials for tuna export production in the first half of the year mainly come from the stock at the end of 2023 and the first months of the year. In the coming time, tuna exports will be less due to the lack of raw materials for export processing.
In 2023, along with the difficulties of the world economy, Vietnam's tuna exports only brought in 845 million USD, down 17%. In the first quarter of 2024, tuna products were exported to more than 80 markets, while last year it was 70 markets. However, experts predict that the tuna industry will find it difficult to achieve the billion USD target as in 2022.
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