In W34 in the tuna landscape, the Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that tuna exports are expected to increase sharply in the last months of 2023 due to decreasing inventories in major export markets and the recently signed Vietnam-Israel Free Trade Agreement. The stockpiled volume of tuna in the United States (US), one of Vietnam's main markets, has begun to decrease, prompting importers to speed up imports. By the end of 2023, major markets like the US will have several festivals, which will increase the demand. Due to preferential tariffs, European Union (EU) importers are also seeking orders from Vietnam. Vietnam's tuna exports reached nearly USD 445.6 million in the past seven months, a decrease of 31% year-on-year (YoY).
China has banned the imports of Japanese seafood products due to Tokyo Electric Power's release of wastewater from the Fukushima Daiichi nuclear power plant. This decision comes as the Japanese fishery industry seeks to expand its overseas markets. China has already banned the import of almost all food products from prefectures near Fukushima since 2011. The ban on Japanese seafood imports in China, including Aomori tuna, resulted in a 24% YoY drop in the average price of fresh Aomori tuna to USD 64.50 per kilogram (JPY 9,383/kg). China is the largest single market for Japanese seafood exports, with an export value of USD 598.7 million (JPY 87.1 billion) in 2022. The export pressure of seafood, such as Japanese tuna, had already appeared before Japan's decision to discharge nuclear wastewater. China Customs Assets reported a 53% halve in imported Japanese seafood imports in Jul-23, and frozen fish fell by 13% month-on-month (MoM) to nearly USD 5 million (JPY 740 million). The actual impact of the import ban on the global seafood market is expected to take two weeks to determine.