After a long period of decline, tuna exports have accelerated again as major markets such as the US and EU have recorded high growth. This is good news for seafood exports and the entire seafood 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 from the General Department of Customs show that tuna exports in November 2023 reached nearly 79 million USD, up 23% over the same period. In the first 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 - Tuna market expert of VASEP said that in fact, Vietnam's canned tuna exports have stabilized and maintained growth since September. In November 2023 alone, canned tuna exports increased by 51% over the same period in 2022. This increase contributed to raising the total export turnover of canned tuna in the first 11 months of 2023 to nearly 235 million USD, up 10% over the same period in 2022.
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| Tuna exports after US, EU continue to grow |
Inflation in major markets is gradually decreasing, the year-end holiday season is approaching and in preparation for the restart of quotas in the new year, major tuna markets are tending to increase tuna imports in the final months of the year. Not only the US and Canada markets, tuna exports to the EU and Israel markets also increased in November.
Specifically, in the US market, tuna exports continued to grow in November, with an increase of 19% over the same period. Among the products exported to the US market, exports of processed and canned tuna products tended to grow continuously in the second half of the year. Notably, by the end of November 2023, exports of other processed tuna products, mainly frozen steamed tuna loins, increased by 23%.
Along with the US, tuna exports to Canada have also grown continuously in the past 2 months. In November alone, export turnover to this market increased "skyrocketingly" with an increase of 117% over the same period. Among the tuna product groups exported to Canada, canned tuna exports and frozen tuna meat/loins code HS0304 are the 2 groups with high growth rates. The export value of the frozen tuna meat/loins product group increased 3 times compared to November 2022, while canned tuna increased 2 times. Currently, canned tuna is the only product group with growth.
In the EU market, the ongoing drought in the Panama Canal has hindered the supply of tuna from Ecuador to this market. In addition, in order to be in time for the resumption of preferential tariff quotas under the Vietnam - EU Free Trade Agreement (EVFTA) in 2024, orders from this market have increased. In November 2023 alone, tuna exports to the EU increased by 64% over the same period. Among EU countries, Italy continued to increase imports from Vietnam. Along with that, tuna exports to Germany reversed and increased again in November.
“With this situation, tuna exports will continue to increase in December, especially in major markets such as the US, EU and Canada,” Ms. Nguyen Ha predicted.
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