In W45 in the tuna landscape, In Sep-23, Vietnam's tuna exports experienced an 8% year-on-year (YoY) decrease and a significant 18% month-on-month (MoM) decline, reaching USD 72 million. Vietnam’s tuna exports to the United States (US) decreased slightly by 1% MoM in Sep-23. However, the accumulated tuna exports for the first nine months of 2023 to the US decreased by more than 41% YoY. Along with the US, Vietnam’s tuna exports to the EU decreased by 25% YoY, mainly from the decline in the German market. In addition, the EU's preferential tariff quotas for Vietnam's canned tuna products under the EU-Vietnam Free Trade Agreement (EVFTA) have been used up. It is expected that this will inhibit export orders to the EU market.
Furthermore, from Jan-23 to Oct-23, Turkish tuna exports experienced a 43% YoY increase, reaching USD 40 million. As of Oct-23, Turkish aquatic products have been exported to over 100 countries and Turkey has become the top supplier to the European market. The country aims to achieve a revenue of USD 1.7 billion by the end of 2023 and USD 2 billion in 2024 for total aquatic product exports.
Lastly, the Blue Marine Foundation has released a report on a six-month investigation into the canned tuna sold by UK retailers. According to the reports, there are significant differences in the sourcing policies of UK retailers' 'own-label' canned tuna and brand-name tuna. Only one of the top ten supermarkets in the UK, Marks & Spencer, could provide evidence that none of the canned tuna sold in its stores was caught using fishing gear that is harmful to the environment. The report highlights the overfishing crisis in the Indian Ocean, with two out of three tropical tuna stocks being overfished.