Tuna exports endure sluggish growth

Vietnam’s tuna exports saw sluggish growth during August with export value reaching approximately US$65 million, a rise of nearly 3 per cent against the same period last year, bringing the total export value during the eight-month period to US$494 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The export of tuna to the EU fell by 6.3 per cent to nearly US$92 million in the reviewed period. Despite this, exports to the Italian and Spanish markets have risen as the both European nations now represent the two largest import markets of Vietnamese tuna within the EU bloc.

Meanwhile, tuna exports to the Netherlands suffered a drop of 11.5 percent to close to US$15 million in the first eight months of the year.

Aside from a decline in exports to the EU, Israel, and China, tuna exports to Canada also showed signs of decline during August.

In spite of Vietnam’s tuna exports to the ASEAN bloc growing during August, this growth was not enough to compensate for the fall in previous months. As a result, the tuna export value during the first eight months of the year dipped 0.9 per cent to only US$33 million.

Currently, the country's fresh, frozen, and dried tuna exports to the ASEAN market have experienced an upward trend, while canned tuna exports to the regional grouping have endured a downward trend.

Tuna exports to the Japanese market in August remained strong, reaching US$3.2 million, a rise of 48 per cent against the same period last year.

After enjoying growth rate of 31 per cent in August, the country’s tuna exports to the US showed positive signs for the future. As a result, the total tuna export value to the vast market during the eight-month period rose 56 per cent in comparison to last year’s corresponding period.

Frozen tuna fillet makes up the largest proportion of the nation’s total tuna exports to the US at 63 per cent. Despite accounting for a smaller proportion of the market, the export of canned tuna products has significantly increased.

VASEP forecasts that tuna exports will enjoy an average growth rate during the remaining months of the year.