Tuna exports to the Israeli market grow strongly

According to a newly released report by the Vietnam Association of Seafood Exporters and Producers (VASEP), in September 2024, Vietnam's tuna exports continued to grow, but at a low rate, up only 12% over the same period. In the first 9 months of 2024, Vietnam's tuna exports reached more than 728 million USD, up 18% over the same period in 2023.

VASEP experts said that tuna exports to major markets still maintained growth momentum, but the growth rate is slowing down in the last months of the year.

Exports to the Israeli market increased by 52% over the same period, reaching nearly 53 million USD. Photo: DV

In terms of markets, Israel is the most notable market at the moment with a triple-digit growth rate, up 125% in September 2024. However, exports to this market are showing an unstable trend due to political instability. By the end of September 2024, exports to this market still increased by 52% over the same period, reaching nearly 53 million USD.

Along with Israel, tuna exports to the US and EU are also increasing in September. In the US market, Vietnam's tuna exports to the market are still slowing down compared to the first half of the year. The value of tuna exports to this market in September increased by only 6%. In the first 9 months of 2024, tuna exports to the US increased by 16%, reaching more than 275 million USD.

In the EU market, tuna exports, after declining in August, increased again in September. However, the growth rate was only 16%. In the first 9 months of 2024, the export value to this market increased by 21%. Vietnam's tuna exports to Italy, the largest importer of Vietnamese tuna in the EU, continued to decline sharply in September.

Notably, exports to the Japanese market reversed in September, increasing by 22%. In the second half of 2024, tuna exports to this market tend to recover but are unstable, increasing and decreasing erratically. By the end of September 2024, the value of tuna exports to Japan increased slightly by 2% over the same period, reaching more than 24 million USD.

Currently, world shipping rates have decreased on all routes, most strongly on the Asia-US West Coast and Europe routes. This is considered a positive signal for export enterprises to welcome growth opportunities at the end of the year. However, difficulties in domestic raw material sources and the impact of the Israel-Iran conflict are expected to restrain the growth of tuna exports in the last quarter of the year.

Source: https://congthuong.vn/xuat-khau-ca-ngu-sang-thi-truong-israel-tang-truong-manh-354227.html