Vietnam: Tuna exports to Egypt will continue to decline

Published 2022년 12월 1일

Tridge summary

Vietnam's tuna exports to Egypt in October 2022 saw a 41% decrease, amounting to only 569 thousand USD. Despite this, the first 10 months of 2022 witnessed a 17% increase in tuna exports to Egypt, reaching nearly 13.5 million USD. Egypt is Vietnam's second largest tuna market in the Middle East, following Israel. The market primarily consumes canned tuna, with a preference for chopped and cut varieties. However, there is growing interest in value-added tuna products. The devaluation of the Egyptian Pound due to inflation has led to an increase in the retail price of canned tuna, resulting in reduced consumption and import demand, potentially leading to unstable and further declines in Vietnam's tuna exports to Egypt.

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

Original content

According to statistics of Vietnam Customs, Vietnam's tuna exports to Egypt in October 2022 decreased by 41%, reaching only 569 thousand USD. Accumulated in the first 10 months of 2022, Vietnam's tuna exports to Egypt reached nearly 13.5 million USD, up 17% compared to the same period in 2021. Egypt is currently a large single tuna import market. 13th of Vietnam and 2nd largest in the Middle East, after Israel. In the context that tuna exports to traditional markets are increasingly difficult due to high competition and saturated consumption demand, Middle Eastern countries are being selected by Vietnamese enterprises to expand exports in recent years. Egyptian consumers favor canned tuna products because of their affordability, taste and convenience. In this market, canned tuna is considered a product that can be consumed anytime, anywhere and is the main ingredient for many meals. Egyptians mainly prefer chopped and cut tuna, accounting for 51% and 45% of canned tuna ...

Source: Haiquanonline