Tuna exports continued to decline in October 2019

(seafood.vasep.com.vn) In October, 2019 Vietnamese tuna exports continued to decline. Export value in October 2019 only reached nearly US$ 63 million, down 6.4% over the same period in 2018. By the end of October 2019, Vietnamese tuna was exported to 107 markets, compared to 103 markets in 2018.

Compared to September, Vietnamese tuna exports to major markets have seen many changes. Notably, the growth has returned to ASEAN and Canada. Meanwhile, tuna exports to the US market are showing signs of slowing down.

The US: Until the end of October 2019, the US continued to be Vietnam's largest tuna importer. The proportion of export to this market was still higher than the same period in 2018. Notwithstanding, after a period of continuous good growth, tuna export to the US in October has slowed down, making the proportion of the US in total tuna export of Vietnam decrease compared to the previous month. Tuna export value of Vietnam to the US in October was only equivalent to the same period in 2018, reaching US$26 million.

Currently, the US is the most diversified import market for Vietnamese tuna products with live, fresh and frozen and canned tuna products such as: Frozen yellowfin tuna loin, frozen yellowfin tuna cubes, frozen yellowfin tuna saku, canned bigeye tuna...

EU: Vietnamese tuna export to EU has not shown any sign of recovery. The export value of Vietnamese tuna to this market in October 2019 decreased by nearly 25% compared to October 2018. Therefore, in the first 10 months of 2019, Vietnamese exports to this market still fell by nearly 12% over the same period in 2018, reaching US$120 million. In particular, exports to the three largest importers in the block (Spain, Italia and the Netherlands) also declined by 7%,18% and 18% respectively.

ASEAN: Contrary to the trend of tuna exports to the EU, Vietnamese tuna exports to ASEAN are showing signs of recovery. The export value of Vietnamese tuna to this market in October rose by 10% compared to October 2018. However, due to the continuous decline in the previous months, the total export value in the first 10 months still slid by 3% over the same period in 2018, reaching US$43 million. In this market, Thailand continued to reduce Vietnamese tuna imports, while the Philippines and Indonesia tend to increase imports tuna from Vietnam.

Japan and Canada: These two markets are also continuing to increase tuna imports from Vietnam. Both countries are currently increasing imports of canned tuna from Vietnam, while reducing imports of live, fresh and frozen tuna. Vietnamese tuna is currently very attractive in these two markets after a gloomy period of export.

Mexico: In October, 2019 Mexico was still a thriving market. Vietnamese tuna exports to this market continued to grow at a high rate, up 255% over the same period in 2018. However, Vietnamese tuna exports to this market were not diversified. Currently, Vietnam only exported frozen tuna loin products to Mexico. 


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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