News

Vietnamese tuna exports to the UK decreased

Tuna
Seafood
United Kingdom
Vietnam
Market & Price Trends
Published Nov 16, 2023

Tridge summary

Tuna exports from Vietnam to the UK have been growing steadily, with a 48% increase in the cumulative 9 months, reaching over $5.5 million USD. However, in September, there was a 36% decline in exports due to the high inflation rate in the UK, which affected seafood sales. Despite this, the recent drop in food inflation rate may signal a recovery in the tuna market in the UK, presenting an opportunity for Asian countries, including Vietnam, to export to this market.
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

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that in the cumulative 9 months, tuna exports to the UK increased by 48% over the same period last year, reaching more than 5.5 million USD. However, in September, exports slowed down, falling 36% after a period of good growth. In terms of product structure, Vietnam exports the most meat and frozen tuna cans - accounting for 94% of total export turnover. Compared to the same period last year, fresh and frozen tuna products from Vietnam to the UK are increasing sharply. In the first months of 2023, the UK has one of the highest inflation rates among major economies. High inflation has affected seafood sales, including tuna, in this country. Demand for tuna products and long-preserved seafood such as canned and bagged tuna has dropped sharply. However, according to Kantar Worldpanel's report, the food inflation rate in the UK has dropped back to single digits for the first time since July 2022. The annual food ...
Source: VNExpress
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