Vietnamese tuna aims to return to billion-dollar commodity list

Published 2024년 4월 1일

Tridge summary

In the early months of 2023, Vietnam's tuna exports experienced a notable growth of 21%, reaching over US$131 million. The country has successfully penetrated more than 80 markets globally, with the United States, the European Union, and Israel being the primary importers. Despite the positive trajectory, the Vietnamese tuna industry anticipates challenges in 2024, including transportation issues due to Red Sea tensions, elevated freight rates, and the impact of the EU's IUU yellow card warnings. Experts recommend that Vietnam could mitigate these challenges and further enhance its tuna exports by capitalizing on free trade agreements, especially with Europe and the United Kingdom.

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

Original content

Ms. Nguyen Ha, a tuna market expert at the Vietnam Association of Seafood Processing and Exporters (VASEP), said the news is a positive sign for Vietnam’s tuna export activities in 2024. Statistics show that in the first two months of this year, tuna exports exceeded US$131 million, an increase of 21% over the same period last year. As Vietnamese companies actively expand export markets, tuna exports have grown well in recent months. According to VASEP, tuna products were exported to more than 80 markets in the first two months of this year, compared with 70 markets in the first two months of last year. Due to the market expansion, companies reduce the risk of reduced exports to major markets. The three largest markets for Vietnamese tuna are the United States, the European Union and Israel. In 2023, tuna exports to the United States, the European Union and Israel reached US$327 million, US$176 million and US$50 million respectively. In the first two months of this year, these ...

Source: Foodmate