The US and the CPTPP group speed up the closing of orders to buy tuna fish, and Vietnam collects hundreds of millions of dollars

Published 2022년 4월 22일

Tridge summary

Vietnam's tuna exports have experienced a significant surge in the first quarter of 2022, with a 72% increase compared to the same period in 2021 and double the figure from 2019. The country's tuna export value exceeded $259 million, largely driven by a 123% increase in high-value frozen tuna meat/fillets, contributing to 72% of the total export value of this product group. The US remains Vietnam's largest tuna export market, followed by other CPTPP markets like Canada, Mexico, and Chile, despite a decline in exports to Japan. Facing challenges such as high raw tuna prices, increased sea freight, and the ongoing Covid-19 epidemic, the growth in tuna exports is expected to continue but is deemed to be in its early stages of recovery.

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

Original content

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), accumulated in the first three months of the year, Vietnam's tuna export value reached more than US$259 million. This number is up 72% over the same period in 2021, and 1.6 times higher than the same period in 2019, the time before the outbreak of the Covid-19 pandemic. The good news is that export orders of high-value frozen tuna meat/fillets (HS code 0304) in the first three months of this year increased sharply, reaching 123% over the same period, reaching $184 million. Especially, the proportion of export value of this product group increased from 55% in the first quarter of 2021 to 72% in the first quarter of this year. Exports of other processed tuna products (mainly frozen steamed tuna loins) also increased by 37% over the same period. And exports of canned tuna products tend to decrease. Khanh Hoa, Binh Dinh, Phu Yen, Ho Chi Minh City and Binh Duong are the leading localities in terms of tuna ...

Source: Danviet