Vietnam's tuna exports in October 2024 increased by 22% year-on-year

Published 2024년 12월 2일

Tridge summary

The Vietnam Association of Seafood Exporters and Processors forecasts a significant growth in the country's tuna exports, with an anticipated increase of 18% to reach US$1 billion this year. This growth is largely driven by rising exports to the United States, Middle East, and Japan, which have offset the challenges faced in exporting to the EU due to the implementation of regulations against IUU fishing. Despite a slight deceleration in the third quarter, the US market has seen a surge in demand for tuna imports, attributed to the recovery in aquatic product demand during the year-end holidays and the US presidential election. Meanwhile, Japan's demand for tuna has also increased, linked to economic improvement and a sharp appreciation of its national currency, leading to a 31% growth in Vietnam's tuna exports to Japan in October.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Vietnam Association of Seafood Exporters and Processors said that if this growth trend is maintained, the country's total tuna exports are expected to reach US$1 billion this year, an increase of 18% year-on-year. Except for the EU and South Korea, Vietnam's tuna exports to major markets have shown an upward trend in October. The difficulties faced in making full use of preferential tariff quotas and facing the implementation of relevant regulations on "combating illegal, unreported and unregulated (IUU) fishing" will hinder Vietnam's tuna exports to the EU in the last few months of this year. In October, Vietnam's tuna exports to this market fell by 10% year-on-year, but due to the good growth momentum in the first few months, the total exports in the first 10 months still increased year-on-year. 17%. After slowing down in the third quarter, Vietnam's tuna exports to the United States accelerated again in the last few months. The demand for aquatic products gradually ...
Source: Foodmate

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