Vietnam: Canned tuna exports to South Korea increased by nearly 500%

The Vietnam Association of Seafood Exporters and Producers (VASEP) cited statistics from Vietnam Customs as saying that in the first 7 months of 2023, Vietnam's tuna exports to Korea grew very impressively. Accordingly, cumulatively in the first 7 months of 2023, tuna exports to this market have increased 2.5 times compared to the same period in 2022, reaching more than 7 million USD. In particular, the group of processed and canned tuna products increased the most. Canned tuna exports increased by 468% over the same period in 2022. Explaining this strong growth, VASEP said it was because the fishing output of the fleets decreased, so Korea had to increase imports from other countries, including Vietnam. And because the economic recession caused Korean people to tighten their consumption, the demand for cheap seafood products such as canned tuna increased. According to data from the World Trade Center (ITC), in the first 6 months of this year, while total tuna imports into Korea ...