Vietnam tuna exports to Italy shot up

Italy mainly imports fresh/live/frozen tuna from Vietnam (excluding tuna fillets/loins HS code 0304). Import value of this product in Jan-Feb 2016 estimated at US$3.2 million, up nearly 148% over the same period last year. Besides, the market imports other processed tuna products.

According to the International Trade Centre (ITC), in 2015, tuna imports into Italy reported the falls. In particular,  the import value hit more than US$746 million, down nearly 21%; with the volume of 137 thousand MT, down 10% compared to 2014.

In 2015, Italy’s imports of canned tuna and fresh/live/frozen tuna (excluding tuna fillets / loins HS code 0304) posted a year-on-year drop. Meanwhile, the figure in tuna fillets/loins HS code 0304 showed the rise.

Of that, canned tuna imports of Italy in 2015 touched nearly 106 thousand MT, worth more than US$624 thousand; down 13% in volume and 22% in value compared to 2014.

The figure in fresh/ live / frozen tuna (excluding tuna fillets / loins HS code 0304) estimated more than 28 thousand MT with the value of US$96 thousand, down  0.5% and 19%, respectively.

In 2015, Vietnam ranked the 10th among tuna suppliers outside the EU into Italy. Ecuador reamains the leader, followed by the Solomon Islands, Mauritius, the Seychelles, Indonesia, the Philippines and Thailand.

Out of the ASEAN countries exporting tuna to Italy, Indonesia's tuna exports showed a year-on-year growth, while the sales of Vietnam, the Philippines and Thailand fell due to low demand for tuna in the EU. In addition, the euro exchange rate and reducing-import policies of the EU had also affected on tuna imports into the EU, including Italy.

However, thanks to the Free Trade Agreement between Vietnam and the EU (EVFTA), in the coming time, Vietnam’s tuna exports to Italy expected to recover.

Written by Nguyen Ha

Compiled by Dieu Thuy