Vietnamese tuna: Increased supplies to Russia and changes in the world market

Overall Tuna Export Trends In July 2024, Vietnam’s total tuna exports were worth nearly $87 million, up 14% year-on-year. However, growth has begun to slow, particularly in key markets such as the EU, Israel, Canada and Mexico. For example, exports to the EU fell by 14% to $16 million. While Italy continues to show positive results with an 18% increase, other countries such as the Netherlands and Germany have seen sharp declines in shipments of 46% and 19%, respectively. Geopolitical Impact The situation in the Middle East, particularly tensions between Israel and Iran, has also had an impact on tuna exports to Israel, which fell by 31% in July. This highlights how geopolitical factors can impact seafood trade, creating instability in the markets. US Market: Steady Growth Unlike the European market, tuna exports to the US continue to grow, albeit at a more modest rate of only 17% in July. In the first six months of 2024, exports to the US amounted to $206 million, up 20% ...