W17: Tuna Update

Published May 5, 2023
In W17 in the tuna landscape, Vietnam's tuna exports to Peru continue to grow strongly, ranking 13th in the top tuna importer, after reaching a peak in 2022. On the other hand, Vietnam's tuna exports to Canada declined in the first three months of 2023, with exports of frozen tuna meat/loin HS0304 declining by 86%. This is due to rising prices, reduced carbon footprint, and increased competition from South America. Businesses must pay attention to quality and competitive prices to ensure market share. On the contrary, canned tuna HS16 exports increased by 102%. Vietnam's seafood industry urged the Prime Minister to approve a VND10 trillion low-interest loan package to help domestic producers sustain operations and ensure the livelihoods of smallholders. The Prime Minister emphasized the goal of removing difficulties and obstacles for the production, processing and export of forest and aquatic products. With the hope of increasing exports, Vietnamese seafood is being introduced at the Seafood Expo Global in Barcelona, Spain from April 25-27. Vietnam has joined 20 editions of the exhibition, sending 38 fisheries firms and intensively processed products such as ready-to-eat and ready-to-cook products to catch up with consumer trends. Artisanal fishermen in Shimoni, Kenya are struggling to catch tuna due to climate change. The Shimoni channel benefits from the north and south easterly monsoons, but the current monsoon has caused fishing difficulties. Thailand shipped USD 2.3B worth of canned tuna in 2022, making it the world leader in exports. It accounted for 24.8% of all canned tuna traded globally, followed by Ecuador with 15.2% and Spain with 9.5%.

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