Vietnamese tuna exporters face many challenges

Published 2023년 6월 23일

Tridge summary

Tuna processors and exporters are facing challenges due to market uncertainty, rising raw material prices, and production costs. Tuna catches have remained low, leading to a decrease in supply and record high prices for skipper tuna. Exports to traditional markets have declined, while shipments to new markets like Israel, Thailand, and Russia have grown. However, exports to the US and EU have decreased, leading to a difficult export market. This has made it difficult for businesses to secure orders and capital, impacting fishermen's income. To maintain production, companies have increased their production of processed tuna and explored new markets, but increased inventories and production costs have forced most businesses to seek government support.

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

Original content

Tuna processors and exporters face many challenges due to market uncertainty, rising raw material prices and production costs. Since the beginning of the year, tuna catches have remained low, which has led to a decrease in the supply of raw materials. This has sent skipper tuna prices to record highs. The price of frozen whole skipjack tuna over 1.8 kg in Bangkok has stabilized after a slight decline from $1,750/t to $1,700/t in February. However, the decline in catch has led to a decrease in the amount of skipjack tuna arriving in Bangkok's ports, leading to a significant increase in prices. The price of frozen whole skipjack tuna over 1.8 kg in Bangkok rose to $2,050 per ton in May, an increase of almost 21% in just 3 months. This is the highest price in the last 5 years. Exports of tuna to traditional markets declined in April, although shipments to some new markets continued to grow, such as Israel increased by 49%, Thailand by 486% and Russia by 486%. Exports to the US market ...

Source: Fishretail