Iran launches missile attack on Israel: Vietnamese seafood exporters worry about Tet being ruined

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports to Israel have been increasing over the years. VASEP is worried about the impact on the industry when Iran launches missiles at Israel, while businesses are worried about stopping orders in the last months of the year.

Vietnamese seafood is processed for export to markets, of which Israel is a very potential market - Photo: VP

October 3, exchange with PV, Mr. Truong Dinh Hoe - General Secretary of VASEP - said that in the top 100 export markets of seafood Vietnam, in 2024 the Israeli market ranked 16th. While in 2023, this market was in 22nd place.

Specifically, according to VASEP data, in 2022, seafood exports to Israel brought in more than 80 million USD, and by September 15 this year reached more than 79.4 million USD; while in the same period last year it was only more than 55.4 million USD.

"Here I want to say that the Israeli market has great potential. Although the Middle East has been experiencing many conflicts for a long time, seafood exports have still increased, especially since tensions along the Lebanon-Israel border escalated in early October 2023, exactly 1 year ago.

Recent attack, currently not available export business Seafood reports the impacts. The future is unknown, but I think the industry in the Israeli market will have some fluctuations and risks. Because 90% of the Middle East is Muslim, they really like to eat Vietnamese seafood," Mr. Hoe acknowledged.

The Middle East is the central region of three continents: Asia, Europe, and Africa, so according to Mr. Hoe, if we are worried, we are worried about maritime congestion, including the Gulf of Aden, which is the shortest route between Europe and Asia.

"International trade through this strategic route accounts for 12-13% of total world trade, and Vietnamese seafood exports also pass through this bay and the Red Sea.

There is concern but it is not possible to say yet, because Israeli customers sometimes export goods to a third country," Mr. Hoe added.

Israel is considered a potential market. In addition to textiles and footwear, seafood is a product in great demand in Israel.

According to Mr. Nguyen Manh Hoang (a major exporter of tuna to Israel), "This year, the domestic market is more difficult to purchase raw tuna than previous years due to the size of the catch, so businesses have to buy from other countries. The price is higher because of the additional transportation costs, and the finance is all in the source of goods.

Not to mention, the whole year is difficult everywhere, sales are down 50-60% compared to previous years, only depending on the last quarter. If the Israeli market is blocked, I am very worried because everything is in the warehouse, Tet will be unenjoyable," said Mr. Hoang.

Previously, on July 25, 2023, Free Trade Agreement The Vietnam - Israel Free Trade Agreement (VIFTA) has created many advantages for Vietnam to promote the export of its strengths, especially seafood.

Israel used to be the 4th largest market for importing Vietnamese tuna.

According to statistics from the General Department of Customs, each year there are about 70 types of Vietnamese goods exported to Israel.

Particularly for seafood, in 2022, seafood exports reached 80.4 million USD and seafood became Vietnam's main export item to Israel.

Of which, tuna exports to Israel reached 36.63 million USD and Israel ranked 4th among the 10 largest tuna import markets of Vietnam (after the US, Canada and Japan).

Next, frozen squid exports reached 23.22 million USD, accounting for 1.7% of the country's total exports of this item, and Israel ranked 8th among the top 10 squid and octopus import markets of Vietnam.

Regarding shrimp, frozen shrimp exports reached about 21 million USD and Israel ranked 20th.

Source