Vietnam: Many positive signals from tuna export markets

Published 2024년 6월 3일

Tridge summary

Vietnam has experienced a significant increase in processed and canned tuna exports in the past five years, with a 70% rise from 2020 to 2024. Despite challenges in fresh and frozen tuna exports, there has been a notable recovery in canned tuna. The demand for value-added seafood is expected to rise due to its convenience. In April 2024, Vietnamese tuna products were exported to over 90 markets, with growth in major markets like the US, EU, Israel, Canada, Japan, and Mexico. The surge in exports is attributed to a decrease in market inventory rather than increased demand.

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

Original content

Tuna exports with HS code 16 are increasing In the past 5 years, Vietnam's processed and canned tuna exports have tended to increase. In the first 4 months of the year alone, the export turnover of this product group increased from 91 million USD in 2020 to 154 million USD in 2024, an increase of 70%. In particular, Vietnam's canned tuna exports are gradually recovering, higher than the same period in 2019 before the COVID-19 pandemic. On the contrary, exports of fresh and frozen tuna, mainly frozen tuna meat or loin with the HS code 0304, are unstable. After peaking in 2022, exports of this product group decreased sharply. Entering 2024, exports of product groups have increased again, but the increase is not high—up 6% over the same period. According to experts' forecasts, convenience is key for shoppers, and value-added seafood that is pre-marinated or ready to heat and eat will continue to attract buyers looking to create combination meals to combine cooking with prepared ...

Source: Vasep