MEKSEA.COM – In February 2024, Vietnam’s tuna exports did not maintain the growth momentum seen in the first month, decreasing by 11% compared to the same period last year, reaching nearly 52 million USD. However, this decline was attributed to the Lunar New Year holiday in February this year. Cumulatively for the first two months of the year, tuna exports reached over 131 million USD, a 21% increase.

Canned tuna exports surged

According to statistics from Vietnam Customs, all categories of Vietnam’s tuna exports up to the end of February increased compared to the same period last year, except for frozen tuna meat/loin under HS code 03034 and steamed frozen tuna loin. However, exports of these product groups only saw slight decreases compared to the same period, by 1% and 3% respectively.

Meanwhile, exports of canned tuna products saw a strong increase of 53%. The proportion of canned tuna exports in Vietnam’s total tuna export turnover has been increasing, reaching levels nearly equivalent to frozen tuna meat/loin products.

Exports to major markets mostly decreased

This year, Vietnamese tuna exporting companies have made efforts to expand tuna export markets from the beginning of the year. In the first two months of the year, tuna products were exported to more than 80 markets, compared to 70 markets last year.

After a strong increase in the first month, tuna exports to most major markets declined in February. However, some markets showed significant growth during this period.

In the US market, tuna exports, after a strong increase in January, saw a slight 8% decrease in February. However, while exports of various tuna product groups to the US decreased in February, canned tuna exports continued to show good growth.

Along with the US, tuna exports to the EU are also declining in February, down 16% compared to the same period last year. Notably, while exports to Germany and the Netherlands decreased, exports to Italy and Poland were growing strongly compared to the same period last year.

Meanwhile, tuna exports to countries within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are continuing to grow. Notably in this market bloc, tuna exports to Canada and Chile are experiencing significant increases in February, up 146% and 116% respectively.

Currently, tuna exports are still facing difficulties due to IUU yellow card issues, which have led to a suspension of seafood exploitation confirmation and certification for exports to the EU. Domestic companies are also facing difficulties in sourcing raw materials domestically as well as from imports.

Additionally, in March and April, major international seafood trade shows will take place in Boston, USA, and Barcelona, Spain, with expectations for better outcomes for tuna enterprises after these events.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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