Vietnam: Taking advantage of opportunities from the market

Published 2024년 9월 4일

Tridge summary

The Republic of Korea (RoK) has emerged as one of the top 10 individual markets importing tuna from Vietnam, with tuna exports to the RoK surging to a record high in June, reaching nearly 6 million USD, nearly six times higher than the same period in 2023. Despite this positive growth, tuna exporting companies in Vietnam are facing challenges due to a decline in raw material supply. The Vietnam Association of Seafood Exporters and Producers (VASEP) has identified the RoK as a potential market for Vietnamese tuna suppliers, but domestic businesses are struggling due to a decrease in the supply of skipjack tuna in the domestic market, primarily due to new regulations on the minimum size of skipjack tuna for exploitation.

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

Original content

In a short time, the Republic of Korea (RoK) has emerged as one of the top 10 individual markets importing tuna from Vietnam. Despite positive growth trends and the participation of 15 companies in tuna exports to the RoK over the past six months, these businesses are also facing challenges due to a decline in raw material supply. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's tuna exports to the RoK have experienced a remarkable surge over the past three months, reaching a record high in June. In June alone, the export value of tuna to the RoK approached 6 million USD, nearly six times higher than the same period in 2023. Over the first six months of 2024, cumulative exports of tuna to the RoK exceeded 14 million USD, marking a 144% increase year-over-year. As a result, the RoK has become one of the top 10 single markets for Vietnamese tuna exports. According to press reports, VASEP representatives have identified the RoK as a potential ...

Source: WTOCenter