Vietnam's tuna export enterprises face many challenges

Published 2023년 6월 21일

Tridge summary

Tuna processing and exporting businesses are facing challenges due to market uncertainties and increasing raw and production costs. Skipjack tuna prices have reached a five-year high due to low catches, leading to a decrease in supply. Traditional tuna export markets have seen a decrease in demand, while new markets like Israel, Thailand, and Russia have shown strong growth. However, the economic situation in the US has caused a significant decrease in tuna exports to that market. Vietnam's tuna exports to the EU also decreased in April. To support fishermen and maintain production, companies have increased processed tuna production and explored new markets. However, the challenging export market has led to increased inventories and has resulted in most businesses operating cautiously and seeking state support.

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

Original content

Tuna processing and exporting enterprises are facing many difficulties because of uncertainties of the market, rising raw price and production costs. Skipjack tuna prices hit a peak Continuously from the beginning of the year, tuna catches remained low, causing a decrease in the supply of raw materials. This has pushed skipjack prices to peaks. The price of frozen whole skipjack tuna with size >1.8kg in Bangkok, after a slight decrease from $1,750/ton to $1,700/ton, stabilized in February. However, lower catches has led to a decrease in the amount of skipjack tuna arriving at Bangkok ports, causing prices to increase significantly. The price of frozen whole skipjack tuna with size >1.8kg in Bangkok rose to $2,050/ton in May, an increase of nearly 21% in just 3 months, and an increase of 8% over the same period. This is the highest price in the past 5 years. Low demand in key markets Tuna exports to traditional markets all decreased in April. Besides, some new markets still ...

Source: Vasep