26/09/2022
U&I Logistics - According to statistics from the General Department of Customs, Vietnam's tuna exports maintain impressive growth after many months of being in decline. In August, tuna export value increased by 86% over the same period last year, equivalent to nearly 92 million USD.
Compared to the time before the outbreak of COVID-19 in 2019, the export of tuna has increased by nearly 1.5 times. This helps export value in the first 8 months of the year increase by 55% compared to the same period in 2021, equivalent to 730 million USD.
In particular, the export share of fresh, frozen and dried tuna products in total tuna export turnover is increasing strongly, more than twice as much as that of processed tuna products.
Up to now, more than 97 markets in the world have accessed Vietnam's exported tuna products. Compared to the same period in 2021, the proportion of exports increased by 65% in the US market and 70% in the European market, respectively.
Along with that, some other main markets such as Canada, Japan, Saudi Arabia, Thailand and Russia are also seeing impressive growth in tuna imports. This shows that the markets are having a strong recovery after COVID-19.
Similarly, on August 31, Eurostat announced that the consumer price index of the continent in August increased by 9.1% compared to the same period last year. This situation is causing consumers in the US and EU to tighten their spending more and more. Demand for canned tuna, one of the favorite low-cost proteins in these two markets which continues to grow.
According to VASEP, due to the increase in oil prices at the beginning of the year, 40-45% of fishing vessels nationwide had to lie ashore, greatly affecting the supply of raw tuna to factories, especially the source of raw materials originating in the country.
This makes tuna processing and exporting enterprises have to import from countries and territories that do not have a Free Trade Agreement (FTA) with Vietnam, making Vietnam's tuna export shipments cannot take advantage of the advantages from the FTA to increase competitiveness compared to other rival countries when exporting to countries with FTAs with Vietnam such as EU countries.
VASEP also forecasts that tuna exports in the last four months of 2022 will continue to increase strongly thanks to competitive price advantages. It is expected that the total export turnover of tuna in 2022 will reach about 1.1 billion USD, up 45% compared to 2021.
U&I Logistics
