EU import restrictions pressure Vietnamese tuna prices

Tuna prices in the Khanh Hoa province slumped facing pressures from the introduction of new regulations on seafood imports in the EU on January 1.

The price of tuna dropped by almost VND30,000 (US$1.62) per kilogramme. The drop has also been linked to lesser orders from seafood exporters.

According to the EU's law on illegal, unreported and unregulated fishing, exporters must provide certified proof of origin and the scientific identification documentation for all seafood species.

Tran Van Dat, Chairman of the Khanh Hoa's Hon Ro Tuna Association, said that several tuna boats returned with fresh catches but hardly anyone came to buy.

"Previously, we sold it for VND135,000-138,000 (US$7.31-7.47) per kilogramme, but now we can sell it for only VND110,000 (US$5.95) and it's still out of season," said Dat.