Would 2024 see Vietnam tuna exports hit the billions?

Published 2024년 5월 4일

Tridge summary

Vietnam's tuna exports in March 2024 saw a 17% increase, generating around $84 million in revenue. The first quarter of 2024 witnessed a 19% increase in tuna export revenue compared to the same period in 2023, but a 17% decrease from 2022. Despite the rise in March, the sector may not reach the billion-dollar mark as in 2022 due to challenges such as a slight decrease in domestic tuna catch output and unstable exports to major markets. These challenges include escalating tensions in the Red Sea, increased freight costs, and prolonged delivery times, as well as issues related to seafood harvesting and regulations related to illegal, unreported, and unregulated (IUU) fishing.

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

Original content

Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces. Slight decrease in domestic tuna catch output According to statistics from the Ministry of Agriculture and Rural Development, the total marine catch volume in the first three months of 2024 is estimated at 833.6 thousand tons, a slight decrease of 0.1% compared to the same period in 2023. Specifically for tuna, the catch volume in the first three months of 2024 in the three key provinces for tuna fishing is estimated at 5,392 tons, a slight decrease of 0.8% compared to the same period last year. Specifically: in Phu Yen, the estimated catch is 1,008 tons, a decrease of 12% compared to the same period; in Binh Dinh, the estimated ...

Source: Vasep