Vietnam's tuna market share in Chile increased sharply

Published 2022년 7월 19일

Tridge summary

Vietnam has seen a significant increase in tuna market share in Chile since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was implemented in January 2019. Despite COVID-19 pandemic challenges, tuna exports to Chile continued to grow, reaching over 4 million USD in the first 5 months of 2022, a nearly 59% increase year-over-year. Chile's total tuna imports exceeded 17,000 tons, worth over 39 million USD, in the first four months of 2022, with Vietnam accounting for 87% of the total tuna value imports. However, rising sea freight costs may impact the competitiveness of Vietnamese companies, potentially slowing down tuna exports to Chile.

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

Original content

Vietnam’s tuna market share in Chile increased sharply. After the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect from January 2019, Vietnam’s tuna export turnover to Chile has prospered. Even when the outbreak of the Covid-19 pandemic hindered tuna export to other markets, Vietnam’s tuna export to Chile still maintained the growth. Vietnam tuna exports to Chile increase continuously in the first 5 months of 2022. According to statistics of Vietnam Customs, tuna export to Chile in the first 5 months of 2022 reached more than 4 million USD, a rise of nearly 59% compared to the same period in 2021. In particular, tuna exports to this market have recorded 3- digit growth in some months. Chile is currently importing a lot of frozen tuna meat/loin from Vietnam, accounting for 87% of the total tuna value imports. According to the statistics of the World Trade Center (ITC), Chile’s total tuna import reached more than 17 thousand tons, worth more ...

Source: Fish Focus