Tuna exports have positive signals

Published 2020년 8월 30일

Tridge summary

Vietnam's tuna exports have seen a decrease of nearly 17% in the first seven months of 2020 compared to the same period in 2019, largely due to the impact of the Covid-19 pandemic. However, the outlook for the rest of the year is positive as there has been a sudden growth in exports to the EU, Israel, and Canada. The EU market now accounts for over 20% of Vietnam's total tuna exports, with a significant increase in July 2020 due to the EVFTA. Other major markets like Israel and Canada are also showing signs of recovery. Despite a decline in fresh and frozen tuna exports to the US, the demand for processed and canned tuna products has increased. However, the market situation is expected to remain unstable due to the complexities of the Covid-19 epidemic.

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

Original content

The Association of Seafood Exporters and Producers (VASEP) said that by the end of July 2020, Vietnam's tuna exports still decreased by nearly 17% compared to the same period in 2019, reaching nearly $ 357 million. During the past 7 months, the Covid-19 epidemic has significantly affected Vietnam's tuna exports to markets. However, Vietnam's tuna export outlook for this year seems to be more hopeful as it sees a sudden growth reversal in exports to markets like the EU, Israel and Canada. After a long period of continuous decline in imports, Vietnam's tuna exports to the EU increased by nearly 65% in July 2020. This growth has helped increase the proportion of the EU market in Vietnam's total tuna exports in the first 7 months of 2020 to more than 20%. Notably, Vietnam's tuna exports to the three main EU markets, Germany, Italy and the Netherlands, saw a high three-digit growth in July, 119%, 200% and respectively. 210%. According to VASEP, this growth was due to the impact of the ...

Source: CafeF