W3 Tuna Update: Vietnamese Canned Tuna Leads Tuna Exports to the EU in 2023 with 28% YoY Surge, While Indonesia Secures 0% Export Tariff for Processed Tuna in Japan

Vietnamese Canned Tuna Leads Tuna Exports to the EU in 2023

In 2023, Vietnamese canned tuna became the leading export product to the European Union (EU), representing over 40% of the total export turnover to the EU and reaching approximately USD 71 million — a significant 28% year-on-year (YoY) increase. The continuous export growth was notable, particularly after the resumption of tariff-preferential quotas under the EU-Vietnam Free Trade Agreement (EVFTA). As the preferential quota was exhausted towards the end of 2023, canned tuna exports to the EU experienced a slowdown and occasional decline. The three largest import markets for Vietnam's canned tuna were Germany, the Netherlands, and Italy, all of which saw increased exports in 2023, with Italy experiencing a remarkable 456% YoY surge. This surge is attributed to the high average import price of Vietnamese canned tuna within the EU, prompting EU countries to increase imports from external sources. Additionally, the El Niño phenomenon, causing a drought in the Panama Canal in late 2023, disrupted Ecuadorian tuna exports to the EU, further contributing to the heightened demand for Vietnam's canned tuna.

Indonesia Secures Zero Export Tariff for Tuna Exports to Japan

Indonesia's Ministry of Maritime Affairs and Fisheries (KKP) has agreed to reduce the export tariff from 9.6% to 0% for four processed tuna commodities exported to Japan. The zero export tariff applies to canned tuna, canned skipjack tuna, and two tariff posts for katsuobushi. This could boost Indonesian fishery product exports to Japan. One of Indonesia's main export destinations for fishery products, Japan has the potential for increased exports, particularly of skipjack tuna. In 2022, Japan was the second-largest importer of skipjack tuna globally, with an import value of USD 2.2 billion, representing around 13% of the world total. Indonesia ranks 6th among skipjack tuna suppliers to Japan, with a 7% share. The agreement is a positive development for Indonesian tuna business actors, and the reduced tariff aims to enhance competitiveness in the Japanese market.

South Korea's Fishery Exports Exceed USD 3 Billion for Second Consecutive Year

According to the Ministry of Oceans and Fisheries, fishery product exports from South Korea surpassed USD 3 billion for two consecutive years. The key contributors to 2023's seafood export performance were seaweed, tuna, and oysters. Tuna, a primary product from deep-sea fishing, recorded an export value of USD 560 million, being shipped in raw form to countries such as Japan and Thailand.

Togo Gears Up for Sustainable Tuna Fishing with Ratification of WTO Fishing Subsidy Convention

Togo has received approval from the Council of Ministers to ratify the World Trade Organization's (WTO) fishing subsidy convention, and the Ministry of Fishing has been authorized to initiate the necessary steps. This decision allows Togo to implement measures that reduce harmful subsidies in fishing practices, contributing to the global conservation of fish stocks. Togo ratified the International Convention in May-23 for the Conservation of Certain Species of Wild Fauna and Flora in the Atlantic Ocean. The ratification of this convention is anticipated to boost industrial tuna fishing in Togo, thereby fostering job creation.