Vietnamese tuna exports surged in the first quarter of 2024

Published 2024년 5월 2일

Tridge summary

Vietnamese tuna exports in March increased by 17% to nearly US$84 million, with the United States being the largest export market. Orders to the EU also rebounded, increasing by 30%. There was also a significant rise in exports to Israel and Canada. However, exports to Japan, Mexico, Chile, and Thailand all experienced a decline. Vietnamese tuna export businesses are expected to face challenges this year due to tension in the Red Sea, leading to increased logistic costs and shipping time. Additionally, local firms are facing difficulties in obtaining certification for raw materials, which is impacting their production activities.

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

Original content

In March alone, Vietnamese tuna exports soared by 17% to reach nearly US$84 million compared to the same period from last year. The United States remains the country’s largest export market with turnover reaching more than US$32 million, up 16% on-year. Along with the US, export orders to the EU rebounded in March, increasing by 30% to US$19 million. Furthermore, tuna exports to Israel and Canada also continued to witness rises of 95% and 143% on-year, respectively. After a period of instability, Vietnamese tuna exports to the Russian market have also bounced back since the end of 2023, edging up by 4% in turnover in March. Meanwhile, tuna exports to other major markets in March such as Japan, Mexico, Chile, and Thailand all experienced a downward trajectory of 18%, 38%, 34%, and 78%, respectively. According to industry insiders, Vietnamese tuna export businesses are anticipated to face a number ...

Source: Vasep