W12 Tuna Update: Vietnamese Tuna Export Challenges Amid Global Expansion, Indonesia Advocates for Tariff Removal in Japan Talks

Published 2024년 4월 1일

In W12 in the tuna landscape, Vietnam's tuna exports display a mixed pattern from Jan-24 and Feb-24, with growth in some markets like CPTPP members but declines in others like the US and EU, attributed partly to challenges such as the EC's yellow card warning and raw material shortages. Meanwhile, Indonesia aims to finalize an agreement with Japan, seeking tariff removals on canned tuna imports as part of the Indonesia-Japan Economic Partnership Agreement Amendment Protocol negotiations. The talks are anticipated to conclude by Sep-23, potentially enhancing Indonesia's trade surplus with Japan, which reached USD 9.4 billion in exports in 2023.

Mixed Performance Amidst New Markets, Challenges, and Upcoming Opportunities in Vietnamese Tuna Exports

The Vietnamese tuna industry is experiencing contrasting trends in export performance from Jan-24 and Feb-24. Vietnamese tuna products have reached over 80 markets globally in the first two months, representing a 10% year-on-year (YoY) increase compared to the same period in 2023.

Notably, tuna exports to members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are exhibiting strong growth, with Feb-24 witnessing a YoY surge of 146% and 116% to Canada and Chile, respectively. However, exports to established markets like the United States (US) and the European Union (EU) experienced a decline in Feb-24. Month-on-month (MoM) exports to the US and EU dropped by 8% and 16%, respectively, compared to Jan-24.

Industry experts warn of ongoing challenges for Vietnamese tuna exports due to the yellow card warning of the European Commission (EC) against Vietnamese seafood. Additionally, a shortage of both domestic and imported raw materials is hindering production capacity. Despite the current hurdles, a positive outlook exists for the industry in the coming months.

Indonesia Pushes for Canned Tuna Tariff Elimination in IJEPA Talks with Japan

Indonesia's Trade Minister has emphasized the removal of specific Japanese tariffs on canned tuna imports from Indonesia as a crucial element in finalizing the Indonesia-Japan Economic Partnership Agreement (IJEPA) Amendment Protocol negotiations. The Indonesian Trade Minister has requested the immediate elimination of four Japanese tariff posts on Indonesian canned tuna imports as part of the IJEPA amendment process. This aligns with similar tariff removals granted by Japan to other ASEAN nations like the Philippines, Thailand, and Vietnam.

Indonesian officials are optimistic that the IJEPA amendment talks can be finalized, with a potential signing ceremony during the ASEAN-Japan 50th Anniversary Summit in Tokyo. Indonesia enjoys a trade surplus with Japan, with exports reaching USD 9.4 billion and imports totaling USD 6.8 billion in 2023. Overall trade between the two countries reached USD 42.0 billion in 2022, reflecting a significant 29.2% increase compared to 2021. Indonesian exports to Japan also hit a five-year high in 2022.