Viet Nam's tuna exports up strongly in January

Wednesday, Mar 02, 2022 06:56

Purchasing tuna at Hon Ro Port, Khanh Hoa Province. In January, Khanh Hoa continued to be the largest tuna exporter of Viet Nam with a value of US$40 million. — VNA/VNS Photo Phan Sau

Viet Nam's tuna export turnover in January reached US$88 million, up 108 per cent over the same period in 2021, according to the General Department of Customs.

The tuna exports grew very strongly to most of Viet Nam's major tuna export markets.

This showed that with the pandemic under control, local enterprises had taken the growing demand in the world market to boost exports, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

The enterprises have enhanced production and met increasing export orders so that they can take advantage of the incentives of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP) and the EU-Viet Nam Free Trade Agreement.

The production of the fishery sector, including the tuna processing production industry, is gradually recovering from the end of 2021 when the demand from all markets increased, so export prices have increased.

Frozen tuna fillets were still the main products in Viet Nam's tuna exports, accounting for more than 66 per cent of total exports in January.

Of which, Viet Nam saw a strong increase in exported frozen tuna fillets and other processed tuna (mainly frozen tuna loin) at 172 per cent and 278 per cent, respectively, over the same period.

The large export markets for Vietnamese tuna products have had a strong recovery in consumption demand when those opened after the COVID-19 vaccination campaign. They included the US, Europe, Israel, Italy, Canada, Japan, CPTPP, Russia, Saudi Arabia and Egypt.

The US was still Viet Nam's largest tuna export market in January with an export value of $44 million, up 210 per cent over the same period in 2021. This figure accounted for 50 per cent of the total export value.

Along with the US, tuna exports to EU countries also accelerated in the year's first month. The Netherlands and Lithuania were among the top three leading EU markets in tuna import value from Viet Nam.

Viet Nam's tuna export value to the two markets in January surged by 243 per cent and 1,938 per cent on-year, respectively.

In the CPTPP bloc, the tuna exports to several markets prospered in the first month of 2022, after a decline in the fourth quarter of 2021. For example, the exports to Canada and Peru increased by 26 per cent and 2,289 per cent on-year, respectively.

Although Chile was no longer in the top four leading markets, exports to this market also increased sharply by 219 per cent. Meanwhile, exports to Japan decreased by 17 per cent over the same period.

In January, Khanh Hoa Province continued to be the largest tuna exporter of Viet Nam with a value of $40 million, accounting for 45 per cent of the total tuna export turnover.

Following were Binh Dinh Province with A tuna export value of $11 million, accounting for over 13 per cent and Long An Province with $7.7 million, accounting for nearly 9 per cent.

Phu Yen Province, HCM City and Binh Duong Province also had a significant tuna export value, accounting for 6-8 per cent.

At present, Viet Nam has 72 enterprises exporting tuna products. Leading companies are Bidifisco, Dragon Wave, Tithico, Highland Dragon and Nha Trang Bay, accounting for nearly 46 per cent of the country's total tuna export turnover.

VASEP has forecast that Viet Nam's tuna exports will continue to be positive in the next months of 2022 due to tariff preferences in markets such as the EU and CPTPP bloc.

This year, the tuna industry is expected to continuously face many challenges, such as difficulties in trade activities of the world sea freight rates without tending to decrease.

The change in quarantine regulations for imported products in many countries and warnings about food safety will be challenges for the local export businesses.

However, the export markets have been reopened to increase demand from foodservice chains, boosting imports. Viet Nam's tuna exports will continue to increase in the next months. —VNS

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