Vietnam: Tuna exports have decelerated

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after months of good growth despite inflation, Vietnam's tuna exports slowed down in October 2022. Accordingly, this month's export value increased only 4% over the same period in 2021, reaching more than $76 million, the second lowest since the beginning of the year. Accumulating 10 months of 2022, tuna export turnover reached more than USD 884 million, up 49% over the same period in 2021. According to Ms. Nguyen Ha, tuna market expert of VASEP, the market signals are no longer as positive as in the first half of the year. Rising inflation is reducing purchasing power in markets, especially in the US, Belgium, Israel, and Egypt markets, even in markets that have the advantage of CPTPP tariffs or geographical advantages. Specifically, tuna exports to the US decreased by nearly 6% in October, to nearly 31 million USD. After peaking in April, the value of Vietnam's tuna exports to the US has decreased ...