Vietnam tuna exports to Italy took a plunge

Published 2022년 12월 7일

Tridge summary

Vietnam's tuna exports to Italy, the former's largest tuna import market in the EU, have seen a dramatic decline with an 88% decrease in October 2022 compared to the same period in 2021, totaling $225,000. The first 10 months of 2022 witnessed a 72% drop, totaling $7.6 million. This reduction relegates Italy to the 7th position among Vietnam's EU tuna markets. The decline is attributed to the dual impact of the COVID-19 pandemic and the Russia-Ukraine conflict, coupled with Italy's shift towards tuna sources offering incentives or cheaper prices, such as Ecuador, Colombia, or Ivory Coast. Despite Italy's reopening and increased tuna consumption due to restored restaurant and cafe operations, rising inflation in the country (8.8% in the first 10 months of 2022) has further dampened imports and tuna consumption.

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, after recovering in September 2022, increasing 40 times over the same period, Vietnam's tuna exports to Italy in October continued to plummet. According to statistics of Vietnam Customs, the value of tuna exports to Italy in October 2022 decreased by 88% compared to the same period in 2021, reaching 225 thousand USD. In the first 10 months of 2022, Vietnam's tuna exports to Italy reached $7.6 million, down 72% over the same period last year. This decline has led Italy from being the largest tuna import market of Vietnam in the EU in 2021 to 7th position in the first 10 months of 2022. Currently, there are 11 enterprises exporting tuna to Italy, of which Nha Trang Bay, Dragon Waves and Thanh Dung Canning Co.,Ltd are the 3 largest companies exporting tuna to this market, accounting for 68% of the total export value to Italy. this market. According to Eurostat statistics, Vietnam is currently the 7th largest ...

Source: Vinanet