Tuna exports bounce back

The seafood export picture has become brighter thanks to a significant recovery of tuna. After three years of consecutive decline, tuna exports have shown signs of recovery. 

The latest figure announced by the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that tuna exports reached US$43.8 million in August and US$309.8 million in the first eight months of the year, an increase of more than 10 percent and 2.1 percent compared to a year ago, respectively.

In addition to a recovery of import markets, the better process from fishing to preservation and efforts to expand export markets have helped tuna export turnover grow. According to VASEP, tuna exports saw continuous fluctuations in the first five months of the year. However, it has maintained steady growth since June.

Fresh and frozen tuna have made significant contributions to its turnover growth. According to statistics from the General Department of Vietnam Customs, Vietnam’s exports of fresh/frozen/live tuna (HS 03 code) accounted for 58.3 percent of total tuna exports, while processed tuna exports took the remaining in the first eight months of the year. Compared to a year ago, exports of fresh/frozen/live tuna increased by 9.5 percent to US$180.7 million. In particular, frozen tuna loin and other processed tuna exports increased by 14.3 percent and 11 percent over a year ago.

Eight major import markets of Vietnamese tuna consisted of the US, the EU, ASEAN, China, Israel, Japan, Canada, Mexico, accounting for 88.2 percent of total tuna export value.

Tuna exports will continue to increase in the last months of the year. In addition to good growth in the US market, major markets such as ASEAN, China and Israel will remain attractive destination of Vietnamese tuna products. According to the Ministry of Industry and Trade’s Africa, Western and South Asia Markets Department said that tuna exports to the Israeli market remains potential. However, exporters need to further invest in processing technology.

Businesses should also promote tuna exports to Italy and Belgium as these two markets saw growth of 120 percent and 16.3 percent in the first eight months of the year.

Duy Minh / ven