Vietnam has many opportunities to boost tuna exports to the UK

United Kingdom
Published Sep 15, 2023

Tridge summary

Vietnam is the 13th largest source of tuna in the UK market, but it is expected to increase its tuna exports to the UK due to the effects of El Niño on shipping routes. The prolonged El Niño phenomenon has decreased rainfall in the Panama Canal, forcing shipping companies to choose alternative routes, creating an opportunity for Asian countries, including Vietnam, to increase tuna exports to European countries. Despite a decrease in overall tuna exports, Vietnam's tuna exports to the UK have seen positive growth in the first 7 months of 2023, thanks to the Vietnam - UK Trade Agreement (UKVFTA) and the UK's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Source: According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), in the UK market, Vietnam is the 13th largest source of tuna, while Ecuador, Mauritius and Seychelles are leading this market. However, Vietnam's tuna export activities to the UK in the last months of the year will continue to be positive, VASEP forecasts. The reason is that this year, the prolonged El Niño phenomenon causes rainfall in the Panama Canal to decrease, thereby affecting the transportation of goods from South American countries, including Ecuador, to European countries via Panama Canal. Shipping companies must choose alternative routes, for example going around the Strait of Magellan, at the tip of South America, with an additional travel distance of thousands of kilometers. "Therefore, it can be said that this is an opportunity for Asian countries, including Vietnam, to increase tuna exports to European countries, including the UK," VASEP said. ...
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