Covid-19 impact on exports of live, fresh tuna

Published 2020년 4월 22일

Tridge summary

The article highlights a significant decrease in Vietnam's tuna export value in the first quarter of 2020, with a 10.4% drop compared to the same period in 2019. This decline is largely due to a slump in tuna exports to major importers, including the US, EU, and ASEAN, caused by the Covid-19 pandemic and its impact on demand and trading activities. While tuna exports to some markets have seen growth, the value of these exports is small. The pandemic has also shifted the global tuna consumption trend towards canned tuna, prompting businesses to increase processed tuna production. However, the pandemic is also affecting the supply of raw tuna, leading to a rise in prices in some areas.

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

Original content

(seafood.vasep.com.vn) According to the statistics of Vietnam Customs, after the growth in February 2020, tuna export value plunged in March 2020. Total tuna export value of Vietnam in the first quarter of 2020 down 10.4% over the same period in 2019. This result is due to the decline in tuna export value to major importers. Specifically, after the growth in February, tuna exports to all three largest importers of Vietnam, the US, EU and ASEAN, all slumped in March. In the US market, after a recovery in February, Vietnamese tuna exports to this market fell by 23% in March. The outbreak of the Covid-19 pandemic in the US caused the country to impose a shutdown. Accordingly, the number of people allowed in public places is limited, citizens are required to restrict participation in activities ... this has reduced the demand for tuna in this market. Similarly, Vietnamese tuna exports to the EU also dropped by over 27% in March 2020. With the number of cases and deaths from Covid-19 ...

Source: Vasep