Many positive signals from tuna export markets in Vietnam in April 2024

Published 2024년 5월 29일

Tridge summary

Vietnam has experienced a significant increase in the export of processed and canned tuna, with a 70% rise from 2020 to 2024, reaching 154 million USD in the first four months of 2024. This growth is part of a larger trend that has seen canned tuna exports surpassing pre-pandemic levels. In contrast, fresh and frozen tuna exports have been unstable. The demand for value-added seafood is anticipated to rise due to its convenience. Tuna products are being exported to over 90 markets, with significant growth in the US, EU, Israel, Canada, Japan, and Mexico. This growth is largely due to a decrease in market inventory rather than an increase in market demand.

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

Original content

Exports of tuna HS code 16 are increasing In the past 5 years, Vietnam's processed and canned tuna exports have tended to increase. In the first 4 months of the year alone, the export turnover of this product group has increased from 91 million USD in 2020 to 154 million USD in 2024, an increase of 70%. In particular, Vietnam's canned tuna exports are gradually recovering, higher than the same period in 2019 before the COVID-19 pandemic. On the contrary, exports of fresh and frozen tuna, mainly frozen tuna meat or loin with the HS code 0304 code, are unstable. After peaking in 2022, exports of this product group decreased sharply. Entering 2024, exports of these products have increased again, but the increase is not high—up 6% over the same period. According to experts' forecasts, convenience is key for shoppers, and value-added seafood that is pre-marinated or ready to heat and eat will continue to attract buyers looking to create combination meals to combine cooking with ...

Source: Vasep