Vietnam's tuna export industry has seen significant growth, raking in approximately $302 million over the past four months, reflecting a 22% year-on-year increase. This upswing is driven by a notable rise in processed and canned tuna exports, according to the General Department of Vietnam Customs.
The turnover for processed and canned tuna exports surged from $91 million in 2020 to $154 million this year, marking a substantial 70% increase. Industry experts note that Vietnamese canned tuna exports are recovering and surpassing figures from 2019, prior to the COVID-19 pandemic.
In April alone, Vietnam's exports of processed and canned tuna climbed by 29%, reaching nearly $87 million year-on-year.
Vietnamese tuna products reached over 90 markets, with significant growth observed in key markets such as the United States, the EU, Israel, Canada, Japan, and Mexico. Exports to these countries showed impressive increases: 37% to the US, 71% to the EU, 32% to Israel, 158% to Canada, 33% to Japan, and 43% to Mexico.
While exports of fresh and frozen tuna have been less stable, experiencing a peak in 2022 followed by a slower growth rate of 6% in the first four months of this year, the processed and canned tuna segment continues to thrive.
Industry experts highlight challenges such as raw material shortages and new EU market regulations. However, they emphasize that consumer demand for convenient processed and canned tuna products is expected to rise in the near future.
#ITCNewsUpdates #TradeNews #ExportUpdate #TunaMarket #InternationalTrade #BreakingNews
