Vietnam's tuna exports to Italy triple year-on-year

Published Jul 15, 2024

Tridge summary

Vietnam has seen a significant surge in tuna exports to Italy, with a 224% increase in May 2024 compared to the same month in 2023, amounting to over 4 million US dollars. The first five months of 2024 witnessed a doubling of exports to nearly 15 million US dollars. Currently, Vietnam is the leading supplier of fresh, frozen, and dried tuna to Italy, surpassing the Philippines and Indonesia. Among the eight Vietnamese companies exporting to Italy, Yueh Chyang Canned Food and Mariso Vietnam are the largest contributors, accounting for 86% of the total exports. The growth in exports is attributed to the tariff benefits of the EU-Vietnam Free Trade Agreement (EVFTA), making Vietnamese tuna products more competitive in the Italian market.

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

Original content

According to the Vietnam Association of Aquatic Products Exporters and Producers (VASEP), Vietnam's tuna exports to Italy have continued to grow at a high rate since the beginning of the year. In May alone, Vietnam's tuna exports to Italy increased by 224% over the same period in 2023, reaching more than 4 million US dollars. In the first five months of 2024, Vietnam's exports to this market totaled nearly 15 million US dollars, which is twice as much as the same period in 2023. According to statistics from the European Statistical Office, Vietnam is Italy's largest supplier of fresh, frozen and dried tuna, higher than the Philippines and Indonesia. At the same time, in the canned tuna market, Vietnam is Italy's seventh largest source country, ranking after Indonesia, Ecuador, China, Solomon Islands, Colombia and Seychelles. Currently, there are about 8 Vietnamese companies exporting tuna to the Italian market. Among them, Yueh Chyang ...

Source: Foodmate