Vietnam’s tuna exports to Canada surge 44% in September

Published 2023년 11월 2일

Tridge summary

Vietnam's tuna exports to Canada saw a significant increase of 44% in September, amounting to over US$3 million. However, overall tuna exports to Canada have been declining, dropping by 47% in the first nine months of 2023. Despite the potential of the Canadian market as the 12th largest tuna import market in the world, the recovery of tuna exports is not expected to happen soon due to increasing consumer credit debt and tighter spending habits among Canadians.

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

Original content

According to the latest statistics from Vietnam Customs, tuna exports to Canada reversed in September, increasing 44% year-on-year to more than US$3 million. Vietnam's seafood export report shows that after a period of sustained high growth in 2022, tuna exports to the Canadian market have been "hit" by inflation, which directly affects consumer demand and limited orders. As a result, Vietnam's tuna export turnover to this market has continued to decline. Since the beginning of 2023 and cumulatively in the first nine months of 2023, tuna exports to this market have dropped by 47% year-on-year. According to data from Agriculture and Food Canada, fish and seafood consumption per household will be approximately C$314 in 2021, with an average compound annual growth rate (CAGR) of 5.6% during 2017-2021. It is expected that by 2026, per Household seafood consumption will increase to CAD 348, with a compound growth rate of 2.1% from 2021 to 2026. In 2022, Canada became the ...

Source: Foodmate