Tridge summary
In 2023, Canada's tuna imports reached nearly 154 million USD, with Vietnam holding a 12% market share, ranking third. However, Vietnam's exports of frozen tuna meat/loin and canned tuna to Canada decreased due to high domestic logistics costs, unfavorable exchange rates, and Canadian policies favoring the South American economic bloc. Other factors such as high transportation fuel prices and slow loading and unloading at Canadian ports also affected the competitiveness of Vietnamese goods.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to World Trade Center (ITC) statistics, in the first nine months of 2023, Canada's tuna imports from all countries reached nearly 154 million USD. Vietnam ranked third, with a market share of 12%, after Thailand and Italy. Among tuna products, Vietnam mainly supplies frozen tuna meat/loin and canned tuna to the Canadian market, with a proportion of 54% and 40%, respectively. In 2023, Vietnam's exports of these two product groups to Canada both had decreased compared to 2022. According to the Vietnam Trade Office in Canada, high domestic logistics costs in Canada in 2023, had made Vietnam's export prices less competitive compared to neighboring South American countries. Besides, there is a low CAD exchange rate policy, especially due to the economic recession in Canada. In addition, Canada tends to promote policies towards the South American economic bloc, which is impacting Vietnam's seafood exports. In addition, high transportation fuel prices and slow loading and ...
Source: Vasep
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