AsemconnectVietnam - In the first 6 months of the year, Vietnam's tuna exports only reached 382 million USD, down by 31% compared to the first quarter of 2022.

The exports to many main export markets fell deeply.
According to the statistics figures of Vietnam Customs, Vietnam's tuna export value in June of 2023 only reached nearly 65 million USD, down by 28% compared to the same period of 2022. Totally in the first 6 months of the year, the exports of Vietnam's tuna reached 382 million USD, down by 31% compared to the first quarter of 2022.
According to the analysis of Ms. Nguyen Ha, tuna market expert of the Vietnam Association of Seafood Exporters and Producers, the exports of fresh, frozen and high-value dried tuna products decreased by 46% over the same period last year. Meanwhile, the exports of processed and canned tuna products reached nearly 175 million USD, up by 4% over the same period last year, mainly due to price increases.
Regarding the markets, tuna exports to the main markets such as the US, Japan, Canada have not shown any signs of recovery. Meanwhile, the exports to the EU, Mexico, Israel and Thailand are recording high growth over the same period last year.
Tuna exports to the US continued to decline in June of 2023, reaching only nearly 26 million USD, down by 48% over the same period last year. Totally in the first 6 months of 2023, the value of tuna exports to the US was equal to only half of the same period last year, reaching 143 million USD.
Americans are choosing canned tuna that suits their wallets amid tough inflation. Currently, the amount of tuna in stock in the US has begun to decrease, importers are considering increasing imports again. However, currently tuna prices in South America are lower than in Asia, which is increasing competition in this market.
Besides, tuna exports to the two largest import markets of the bloc, Japan and Canada, continued to decline in June. Meanwhile, the exports to Mexico and Chile grew strongly.
In Japan, after growing in the first quarter of 2023, tuna exports to this market decreased continuously in the second quarter. Particularly in June, the exports to this market decreased by nearly 31%, reaching more than 3 million USD. Therefore, in the first 6 months of 2023, the export turnover to Japan decreased by 10%, reaching nearly 17 million USD. The depreciation of JPY is causing the consumption of seafood products, including tuna, to be restrained.
Along with Japan, tuna exports to Canada are also gloomy. The exports to this market decreased continuously. In June alone, tuna exports to Canada decreased by 54%.
Exports to the EU increased in a row in the past 2 months
In contrast to the US market, tuna exports to the EU increased continuously in the past 2 months. After growing in May of 2023, tuna exports to the EU continued to grow in value in June, up by 28% to more than 12 million USD. As a result, totally in the first 6 months of 2023, tuna export turnover to the EU was at the same level as compared to the same period last year.
Notably the exports to the Netherlands have continuously grown "gallopingly" in the last 2 months at 3 digits. Along with the Netherlands, tuna exports to Germany are still maintaining good growth, with an increase of 30% in June. Meanwhile, the exports to Belgium are still lower than the same period.
According to Ms. Nguyen Ha's analysis, the Russia-Ukraine conflict, thrifty consumer spending, rising price of goods, rising petrol and depreciating EUR are the reasons for slow consumption in this market. But the preferential tariff is an advantage that pushes the EU to seek orders from Vietnam. However, at present, the import quota of canned tuna, frozen steamed tuna loin is almost used up. Therefore, Vietnam's tuna exports to this market will slow down.
Besides, tuna exports to Mexico and Chile increased strongly by 100% and 90% respectively. Along with Mexico and Chile, Vietnam's tuna exports to Israel and Thailand are also increasing at 164% and 65% respectively.
CK
Source: VITIC/ haiquanonline.com.vn