Increase in the market share of Vietnamese canned tuna in the US

Published 2024년 6월 18일

Tridge summary

Vietnam has become the second-largest supplier of canned tuna to the US, making up 16% of total imports, just behind Thailand. Despite an increase in imports from Vietnam, the US's overall canned tuna imports slightly decreased in the first quarter of 2024 to nearly 33 thousand tons, mainly due to a 9% drop in imports from Thailand. Thai canned tuna averaged 4,422 USD/ton, while Mexican exports to the US rose, priced at 4,735 USD/ton. Indonesia and Ecuador are losing market share, with Ecuador's exports plummeting by 88% due to price increases. Chinese exports continue to fall because of high tariffs. As the US economy recovers and global tuna prices stabilize, US canned tuna imports are expected to rebound, with a trend towards reducing reliance on Thailand and increasing imports from Vietnam.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the US Department of Agriculture, Vietnam is currently the second-largest source of canned tuna for the US market, accounting for 16% of the country's total import volume, after Thailand. Although the US is increasing imports of canned tuna from Vietnam, the country's total imports in the first quarter of 2024 decreased slightly over the same period, reaching only nearly 33 thousand tons. The reason is that the US reduced imports from Thailand, the largest source of tuna for this market, accounting for 51% of total import volume. In the first quarter of 2024, US canned fish imports from Thailand decreased by 9%. The average price of Thai canned tuna products exported to the US in the first quarter of 2024 fluctuated around 4,422 USD/ton. Along with Vietnam, Mexico's canned tuna exports to the US are also increasing slightly. The average export price of Mexican canned tuna products to this market in the first quarter of 2024 tends to increase compared ...

Source: Vasep