Vietnam: Tuna exports to Japan increase sharply

Published Nov 28, 2024

Tridge summary

In October 2024, Vietnam saw a 31% increase in tuna exports to Japan, reaching a value of nearly 3.5 million USD. This surge helped mitigate the negative trend in exports to Japan earlier in the year, resulting in a 5% increase in total tuna export value to 28 million USD from January to October 2024. The majority of the exports consisted of processed tuna products (HS code 16), with leading companies Mariso Vietnam, AH Fishco, and Evertrust Food Co., Ltd contributing two-thirds of the total export value. This growth comes amidst a general decline in Japan's tuna imports from its main suppliers, with Vietnam experiencing the least decrease. This growth in tuna imports aligns with an uptick in Japanese household spending and economic growth, alongside the government's plan to spend 21.9 trillion yen on an economic stimulus package, which is anticipated to further boost seafood, including tuna, imports.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from Vietnam Customs, in October 2024 alone, tuna exports to this market increased by 31% over the same period, reaching nearly 3.5 million USD. This figure contributed to offsetting the decline in exports to Japan in the first half of the year, bringing the total export value in the first 10 months of 2024 to nearly 28 million USD, up 5% over the same period. Among the tuna product groups exported to Japan, other processed tuna products with HS code 16 such as smoked tuna meat, marinated tuna slices, etc. (except canned tuna), are the main export product group to this market. And it is also the only product group that increased compared to the same period in the first 10 months of this year. Currently, Vietnam has more than 20 enterprises exporting tuna to Japan. Of which, Mariso Vietnam, AH Fishco and Evertrust Food Co., Ltd are the 3 leading companies in exporting to this market, accounting for 66% of the total tuna export turnover to this market. ...

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