Egypt: A bright spot in Vietnam tuna exports in the first six months

Published Aug 18, 2020

Tridge summary

The tuna industry is being heavily impacted by the second wave of the Covid-19 pandemic, with Vietnam's tuna exports experiencing a 20% decrease in the first half of 2020 compared to the previous year, totaling nearly US$ 293 million. This decline is predominantly seen in fresh, frozen, and processed tuna products, while canned tuna exports have seen growth. The US and EU are among the major importers that have reduced their tuna imports from Vietnam, although the US has seen a 10% increase in canned tuna imports. The ASEAN region and Egypt present opportunities for Vietnamese tuna exporters, with Vietnam's tuna exports to ASEAN Surging by 1,265% and to Egypt by 74% due to reduced imports from other countries.

Additionally, the article mentions the potential effects of the EU-Vietnam Free Trade Agreement (EVFTA), which is set to take effect in the coming months, on the recovery of tuna exports to the EU. However, businesses do not expect an immediate recovery and note that the situation remains uncertain due to the ongoing pandemic.

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

Original content

(seafood.vasep.com.vn) The economic crisis due to the Covid-19 pandemic has not come to an end, the tuna industry is facing the second wave of the pandemic, which impacts severely on the global tuna market and tuna exports of Vietnam in particular. By the end of June, Vietnam's tuna exports in the first 6 months of 2020 continued to fall, down 20% over the same period in 2019, reaching nearly US$ 293 million. Vietnam's canned tuna exports continue to grow over the same period in 2019. Meanwhile, exports of fresh, frozen, and processed tuna products continued to fall. By the end of June, tuna export value to most major importers slashed compared to the same period in 2019, except for ASEAN and Egypt. The US: Vietnam's tuna exports to the US continued to dive in June. For the first 6 months of 2020, Vietnam's tuna exports to the US reached nearly US$ 127 million, down 20% over the same period in 2019. Due to the impact of the Covid-19 pandemic, the demand for canned tuna soared, so ...

Source: Vasep