Vietnam: Tuna exports to South Korea reached nearly 6 million USD in 6 months

Published Aug 7, 2024

Tridge summary

Vietnam's tuna exports to Korea have seen a significant increase, growing by over 100% in the past three months. The export value for June reached nearly 6 million USD, a six-fold increase from the same period in 2023. The first half of 2024 saw tuna exports to Korea total over 14 million USD, a 144% increase. Korea is now among the top 10 single markets importing the most tuna from Vietnam. The exports are mainly processed and canned tuna, with 99% of the total export turnover. The increase in exports is due to the Korean market's potential and the trend of reducing consumer spending on seafood.

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

Original content

According to VASEP, in the past 3 consecutive months, Vietnam's tuna export to Korea has grown at a 3-digit rate. In particular, in just June, export value reached nearly 6 million USD, an increase of nearly 6 times compared to the same period in 2023. Accordingly, cumulatively in the first 6 months of 2024, tuna exports to Korea reached more than 14 million USD, an increase of 144% over the same period. Korea became one of the 10 single markets that imported the most tuna from Vietnam. According to statistics from Vietnam Customs, in the first 6 months of this year, there were 15 businesses participating in exporting tuna to this market. Leading these are Nha Trang Bay, Yueh Chyang Canned Food and Trinity Vietnam, accounting for 86% of total exports in the first half of 2024. In June 2024, tuna exports to Korea reached nearly 6 million USD With a population of more than 51 million people, Korea is currently a potential market for Vietnamese tuna exporters with a high growth trend ...

Source: VNRuralEconomics