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Vietnam Tuna exports surge despite barrier to EU

The nation’s exports of tuna so far this year increased sharply over the same period last year, according to the Viet Nam Association of Seafood Exporters and Producers.

Export value saw three-digit increases to popular markets such as the Republic of Korea with growth of 412 per cent, followed by Taiwan at 328.8 per cent and Canada, 198.3 per cent.

According to the Viet Nam General Department of Customs, the country exported 37,500 tonnes of tuna worth US$147 million, a year-on-year increase of 71.2 per cent in volume and 98 per cent in value.

At present, the US is the largest and most stable market for Viet Nam’s tuna. The US imported 15,000 tonnes of tuna from Viet Nam worth over $75 million, a year-on-year increase of 103.8 per cent in volume and 179.8 per cent in value.

During the review period, the nation also exported 2,600 tonnes of tuna to Japan for nearly $16 million, an increase of 50.7 per cent in volume and 119.9 per cent in value.

However, it is difficult for Vietnamese tuna in Japan to compete with similar products from other regional countries like Thailand and the Philippines due to a higher tax rate.

In addition, export of Vietnamese tuna to the EU decreased due to the effects of the EU’s IUU (illegal, unreported and unregulated fishing) regulation. Viet Nam’s export of tuna to the EU hit 7,000 tonnes worth over $24.6 million, a year-on-year decrease of 14 per cent in volume and 6.6 per cent in value.

Source: VASEP

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