W28: Tuna Update

In W28 in the tuna landscape, according to Vietnam’s customs statistics, Vietnam's tuna export value in Jun-23 was nearly USD 65 million, showing a 28% decline compared to the same period in 2022. In the first six months of 2023, Vietnam's tuna exports reached USD 382 million, reflecting a 31% decrease compared to the same period in 2022. Vietnam's tuna exports to the Middle East declined in the first five months of 2023, reaching 32 million USD, down 21% from the fourth quarter of 2022. This follows a continuous decline in the fourth quarter of 2022. Tuna farming in bays around Indonesia is seen as a strategic move to support the national goal of achieving USD 7.6 billion in seafood exports in 2023.

In Jun-23, tuna exports to the United States (US) declined 48%, reaching nearly USD 26 million. In the first six months, the value reached only half of the previous year's value, reaching USD 143 million. On the other hand, tuna exports to the European Union (EU) have shown steady growth in the first six months of 2023, reaching over USD 12 million in Jun-23. This represents a 28% year-on-year (YoY) increase, highlighting consistent value growth in the EU market. Lastly, climate change-induced shifts in tuna migration patterns, leading them into areas where deep-sea mining is taking place in the Eastern Pacific Ocean, could threaten bigeye, skipjack, and yellowfin tuna populations. The mining activities may result in discharge plumes, elevated toxic metal levels, noise pollution, and increased vessel operations, potentially impacting tuna behavior and overall well-being.