In W35 in the tuna landscape, Vietnam's tuna exports are expected to increase in the second half of 2023, as tuna supply in the United States (US) has begun to decline, and tuna importers are considering accelerating imports. By the end of 2023, large markets like the US will host many holidays, increasing consumer demand. European Union (EU) importers are also seeking orders from Vietnam due to preferential tariffs. In the past seven months of 2023, Vietnam's tuna exports reached nearly USD 445.6 million, a 31% year-on-year (YoY) decrease. However, exports of high-quality fresh, frozen, and dried tuna products fell by 46% YoY, while processed and canned tuna shipments rose slightly by 4% YoY to over USD 204 million.
Furthermore, Vietnam's tuna exports to Israel reached nearly USD 25 million in the first half of 2023, a 92% YoY increase. The largest share of exports was frozen meat and tuna fillets, with a 29% YoY increase in value. Canned tuna export turnover also increased by 375% YoY, and other tuna products by 83% YoY. The Vietnam-Israel Free Trade Agreement (VIFTA) signed on July 25 will provide Vietnamese seafood exports, including tuna, access to the Israeli market and the Middle East region. The Vietnam’s Association of Seafood Exporters and Producers (VASEP) Secretary General suggested that tuna exporters ensure product quality, carefully study market information, promote confidence, and be responsible. To facilitate tuna exports, enterprises have asked the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade to provide more raw tuna import quotas.
Vietnam's tuna exports to South Korea during the first seven months of 2023 have surpassed USD 7 million, marking a remarkable increase of 2.5 times compared to last year. The growth in tuna exports occurred despite a 7% reduction in South Korea's overall tuna imports. Notably, Vietnam's canned, processed tuna products constituted nearly 77% of South Korea's total imports within this category, as reported by World Trade Center data.
Indonesia aims to boost its aquaculture industry by promoting tuna farming in several bays to alleviate overfishing problems and strengthen its economy. Indonesia's major tuna export markets include the US, Japan, Thailand, Saudi Arabia, the EU, Australia, Vietnam, the United Kingdom (UK), and the Philippines. Indonesia holds a high position in the world's fish farming sector, but production has recently been decreasing due to overfishing and overexploitation of its Pacific and Indian oceans. The country plans to achieve its export goal of USD 7.6 billion in 2023 through investment in tuna farming. The Indonesian President has urged the Ministry of Fisheries to prioritize expanding aquaculture productivity. Indonesia is also considering establishing tuna farms in suitable areas for various tuna species, such as yellowfin, bigeye, and southern bluefin tuna.
Lastly, the Philippines has become one of the world's leading tuna producers, producing over 475 thousand metric tons (mt) last year. In 2022, the Philippines exported more than 107 thousand mt of tuna, which is remarkable considering the country's relatively small size. According to data from BFAR (Bureau of Fisheries and Aquatic Resources), tuna made up 10.25% of the country's total fisheries production in 2022. The Department of Agriculture- Bureau of Fisheries and Aquatic Resources (DA-BFAR) has implemented initiatives to strengthen the tuna industry by setting up twelve Fisheries Management Areas, creating new regulations for tuna fishing, launching the Philippine Fisheries and Coastal Resiliency Project, and implementing the National MLambaklad and Payao Program, among other efforts.
