Vietnam's tuna exports are expected to grow by 20% in the first half of the year

Published 2024년 6월 28일

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts a 20% increase in tuna exports, reaching 456.8 million USD in the first half of 2024. This follows a 22% rise in the first five months of the year. The United States and European Union are the largest markets, accounting for 37% and 22% of total exports, respectively. Vietnam's tuna industry has seen significant growth, becoming the world's 5th largest tuna exporter in 2023 and exporting over 1 billion USD worth of tuna in 2022. However, the industry faces challenges such as raw material shortages and technical issues with the VNPT electronic monitoring system on fishing vessels. The Ministry of Agriculture and Rural Development has been called upon to address these issues.

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Original content

HCM City (VNS/VNA) - Tuna exports are projected to reach 456.8 million USD in the first half of 2024, a year-on-year increase of 20%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). After decreasing in 2023, exports rose by 22% in the first five months of the year to 388 million USD. Shipments of canned tuna products, bagged tuna and frozen loin/fillet increased by 44%, 24%, and 7%. Exports of frozen whole tuna nearly tripled. Exports to most markets increased, with those to the US and the EU, the two largest, rising by 30% and 37% and accounting for 37% and 22% of total exports. Exports to Israel, Russia and the Republic of Korea rose by 64%, 58% and 66%. Speaking at the association’s annual general conference in HCM City on June 10, Cao Thị Kim Lan, Director of the Binh Dinh Fisheries Joint Stock Company, said in 2023, Vietnam became the world’s 5th largest exporter of tuna behind Thailand, Ecuador, Spain, and China, rising from the 8th place 10 ...

Source: Vasep