July 26, 2022

 

Tuna exports from Vietnam 41% up year-on-year in June

 


The Vietnam Association of Seafood Exporters and Producers (VASEP) said based on data from Vietnam Customs, the country's tuna exports totaled US$90 million in June 2022, 41% higher compared to June last year, Fish Information & Services reported.

 

Tuna export revenue totaled US$553 million in the first half of 2022, an increase of 56% from the same period in 2022. Except for the EU, Israel, and Egypt, tuna exports to many major markets increased.

 

The conflict between Russia and Ukraine has raised prices for both energy and food commodities worldwide. Because of this, Vietnamese seafood in general and tuna in particular have more opportunities to export to foreign markets.

 

The value of all tuna exports to the US market exceeded US$300 million by the end of June 2022, an increase of 96% from the same time in 2021. In June, Vietnam's tuna exports kept up their rapid growth. Low tuna catches in the East Pacific (EPO) during the first six months of 2022 had an impact on the catches of the US fishing fleet. In addition, there is a greater demand for tuna in cans due to high inflation. All of these factors have increased US tuna imports from countries like Vietnam.

 

Over the last three months, Vietnam's tuna exports to the EU have steadily decreased. The total export turnover for the first six months was US$77 million, an increase of 4% over the same period. However, the amount of tuna exported to the market in June fell 25% from June 2021 to nearly US$9.5 million.

 

Exports of tuna to Canada, Japan, and Mexico kept increasing. VASEP said the CPTPP will be the third-largest export market for Vietnamese tuna exporters by the end of June 2022. (after the US and EU). The demand for imported tuna from CPTPP nations reached US$68 million, an increase of 50% from the same time last year. Exports to Canada increased by 68%, those to Japan by 26% and those to Mexico by 30% of that total. Particularly for Chile, export turnover to this market showed signs of slowing down in June, declining by 48%.

 

In addition to the three major export markets mentioned above, tuna exports to Saudi Arabia, Thailand, the Philippines, and Russia continued to expand well in the first half of 2022. Tuna exports to Saudi Arabia totaled US$1.2 million, Thailand saw an increase of 59%, and the Philippines saw an increase of 86%.

 

The second half of 2022 is expected to see positive growth in tuna exports, though the rate of growth will slow. About US$1.1 billion in tuna export revenue is projected in 2022, an increase of 45% from 2021.

 

-      Fish Information & Services

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