Egypt: A bright spot in Vietnam tuna exports in the first six months

(seafood.vasep.com.vn) The economic crisis due to the Covid-19 pandemic has not come to an end, the tuna industry is facing the second wave of the pandemic, which impacts severely on the global tuna market and tuna exports of Vietnam in particular. By the end of June, Vietnam's tuna exports in the first 6 months of 2020 continued to fall, down 20% over the same period in 2019, reaching nearly US$ 293 million.

Vietnam's canned tuna exports continue to grow over the same period in 2019. Meanwhile, exports of fresh, frozen, and processed tuna products continued to fall.

By the end of June, tuna export value to most major importers slashed compared to the same period in 2019, except for ASEAN and Egypt.

The US: Vietnam's tuna exports to the US continued to dive in June. For the first 6 months of 2020, Vietnam's tuna exports to the US reached nearly US$ 127 million, down 20% over the same period in 2019. Due to the impact of the Covid-19 pandemic, the demand for canned tuna soared, so the US went up imports of this product group from Vietnam, up nearly 10% compared to the first half of 2019. The growing outbreak of the disease is causing tuna exporters to worry about the market's resilience.

The EU: EU tuna imports from Vietnam continue to be a modest amount. The value of Vietnam's tuna exports to the EU in the first 6 months of 2020 was only nearly US$ 57 million, down 17% compared to the same period in 2019. Due to the effects of the Covid-19 epidemic, imports Vietnamese tuna from EU countries fluctuated unpredictably. In May 2020, Vietnam's tuna exports to the Netherland slumped, exports to this market in June reversed to increase. Meanwhile, tuna exports to the German market continued to grow well. However, like the US, although the EVFTA agreement will take effect early next month, businesses still cannot expect an export recovery to this market.

The ASEAN: In June, Vietnam's tuna exports to ASEAN reversed unexpectedly. Tuna export value of Vietnam to this market in June elevated to nearly 73%, bringing the total export value in the first 6 months to nearly US$ 21 million. Notably, while exports of other commodity groups of Vietnam declined, Vietnam's exports of canned tuna to ASEAN skyrockted, up 1,265% over the same period. It can be seen that the Covid-19 pandemic is having a great impact on the production and consumption of tuna in ASEAN countries, creating export opportunities for Vietnamese enterprises.

Egypt: In the context of continuous decline in tuna export to major markets, Egypt was considered a bright spot with continuous high growth. By the end of June, Vietnam's tuna exports to Egypt increase tremendously by 74% over the same period in 2019, reaching nearly US$ 8 million. Egypt is currently importing a score of processed and canned tuna from Vietnam, especially canned tuna. 


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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