Vietnam’s tuna exports in November fell short of expectations

Published 2024년 12월 31일

Tridge summary

Vietnam's tuna exports, especially canned tuna, saw a decline in November, with a decrease of 8% year-on-year. This was due to a drop in exports to key markets such as the EU, Israel, Russia, Japan, and South Korea. While exports to the U.S. continued to grow, the growth rate slowed down. Geopolitical instability in Israel and Russia is affecting Vietnam’s tuna trade. In the CPTPP market bloc, tuna exports to Japan decreased by 6% in November, but still showed a 4% increase for the first 11 months. Meanwhile, exports to Canada, Mexico, and Chile continued to grow strongly in November. Businesses are facing challenges related to raw materials and export procedures, and are urging the government to revise regulations on the minimum size of skipjack tuna for harvesting to facilitate export activities.

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

Original content

Among Vietnam's exported tuna products, canned tuna exports experienced a decline in November. The export value for this product decreased by 8% year-on-year, which was one of the main reasons for the slower growth of Vietnam's tuna exports toward the end of the year. In November, exports to key markets such as the EU, Israel, Russia, Japan, and South Korea declined compared to the same period last year. Although exports to the U.S. continued to grow, the growth rate slowed down. In the EU market, tuna exports to Italy and Germany dropped significantly in November, with decreases of 95% and 39%, respectively, compared to the same period. Conversely, exports to the Netherlands increased slightly, by only 3%. Similarly, tuna exports to Israel and Russia, after a period of strong growth, plummeted in November. Geopolitical instability in these two markets is impacting Vietnam’s tuna trade. In the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market ...

Source: Vasep