Vietnam: Tuna exports in EU and Israeli markets decreased sharply in September 2023

Published 2023년 11월 3일

Tridge summary

In September, Vietnam's exports of frozen tuna meat/loin products declined, leading to a 41% decrease in exports for the first 9 months of 2023. Canned tuna exports also showed a downward trend, decreasing by 15% in September. On the other hand, exports of other processed tuna products, particularly frozen steamed tuna meat/loin, increased by 97% in September and 29% in the first 9 months of 2023. Tuna exports to major markets like Canada and Russia showed signs of recovery, but exports to traditional markets like the EU and Israel decreased. Tuna exports to the US market also declined, potentially due to decreased consumer confidence. Additionally, a war between Israel and Hamas impacted exports to Vietnam's second largest single tuna import market, and overall tuna exports are not expected to be positive in the last quarter of the year.

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

Original content

Regarding products, Vietnam's exports of frozen tuna meat/loin products with code HS0304 continued to decline in September. Therefore, accumulated in the first 9 months of 2023, exports of this product group decreased by 41%, reaching 315 million USD. Vietnam's canned tuna exports followed a downward trend this month, down 15% over the same period. Therefore, Vietnam’s total export value of this product group in the first 9 months of 2023 decreased slightly by 0.2% over the same period. Meanwhile, exports of other processed tuna products, mainly frozen steamed tuna meat/loin, tended to increase faster in September, with an increase of 97%. This increase has raised the total export value of this product in the first 9 months of 2023 to more than 107 million USD, up 29% over the same period. Regarding markets, tuna exports to some major markets like Canada and Russia showed signs of recovery in September after a period of decline, with increases of 44% and 124% respectively. ...

Source: Vasep