Vietnam’s tuna exports to Italy plunge

This decline has caused Italy from the largest tuna import markets of Vietnam in the EU in 2021 to fall to 7th position in the first 10 months of 2022.

Currently, there are 11 enterprises exporting tuna to Italy, of which Nha Trang Bay, Dragon Waves and Thanh Dung Canning Co.,Ltd are the 3 largest companies exporting tuna to this market, accounting for 68% of the total export value. 

According to Eurostat statistics, Vietnam is currently the 7th largest tuna supplier to the Italian market, accounting for 3% of Italy's total tuna imports.

Vietnamese canned tuna is a favorite and widely consumed product in Italy

This year, Italy has lifted the preventing Covid-19 restrictions and the reopened  restaurants and cafes, as well as the recovered tourism industry, which have increased tuna consumption in this country. Italy is currently importing a lot of processed and canned tuna. Currently, 1 in 3 Italians consume canned tuna at least 2 to 3 times a week.

However, due to the dual impact of the Covid-19 pandemic and the Russia-Ukraine conflict, inflation in Italy in the second half of 2022 tends to increase. Price of tuna and other seafood products in Italy increased by 8.8% in the first 10 months of 2022. This has restrained imports and affected tuna consumption in this country. The Italian importer's new trend is to choose tuna sources that offer many incentives, tax reductions or cheap prices such as Ecuador, Colombia or Ivory Coast. Besides, Italy tends to increase imports from internal sources such as Spain or Greece.

Compiled by Thuy Linh