November 29, 2022

Vietnam tuna exports reached over US$3.7 million

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that Vietnam tuna exports reached over US$3.7 million in September 2022, 75% up year-on-year, thanks to increased shipments to Japan, Fish Information & Services reported.

Vietnam tuna exports to Japan totaled US$31 million in the first nine months of 2022, up 49% from the same period in 2021 and 1.5 times higher than the same period in 2019.

Japan is the primary destination of Vietnam's frozen tuna meat/loin exports (HS code 0304). Other shipments include processed tuna products, such as frozen steamed skipjack tuna, and frozen steamed skipjack/yellowfin tuna loin. With the exception of canned tuna, Vietnam's exports of tuna products to Japan rose over the same time period.

A total of 32 Vietnamese businesses are currently involved in exporting tuna to Japan. The top 3 tuna exporters to this market in the first nine months of 2022 are FoodTech, Evertrust Foods Co., Ltd., and Mariso Vietnam.

Japan's tuna imports decreased steadily in the first seven months of 2022, according to data from the World Trade Center (ITC). At this time, Japan's inflation rate is at its highest point in eight years.

In the final months of the year, it is anticipated that Japan's demand for tuna imports will only slightly increase in volume. By the end of 2022, consumer demand for expensive tuna products is expected to be lower than in earlier years. Imports priced in US dollars are becoming more expensive due to rising high inflation and the weakening of the Yen. In the final quarter of the year, Vietnam's tuna exports to Japan are anticipated to grow, but at a slower rate.

-      Fish Information & Services