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Tuna exports from Vietnam to Japan reversed to hike
October 02, 2020, 04:41 PM
(seafood.vasep.com.vn) By the end of July 2020, the total value of Vietnam's tuna exports to Japan reached more than $ 16.8 million, up 8% over the same period in 2019. However, after continuous growth in the first five months of 2020, Vietnam's tuna exports to this market decreased in June and July.

In the first 7 months of 2020, exports of other processed tuna from Vietnam to Japan tend to spike, while exports of fresh, live, frozen, and canned tuna have slumped. Due to the fact that the proportion of exports of processed and canned tuna products increasing from 62% in the first 7 months of 2019 to more than 77% in the same period in 2020. Notably, the export of other processed tuna products, especially frozen tuna loin products, HS code 16041490 continued to jump compared to the same period in 2019.

Compared to the same period in 2019, the average export price of processed tuna to Japan fell, while the price of frozen tuna meat/ fillets tended to increase.

There were nearly 21 businesses that exported tuna to Japan in the first 7 months of 2020.

The growing outbreak of Covid-19 epidemic in the Japanese market continued to affect the tuna industry. Japanese people are changing their tuna consumption habits, switching from eating at restaurant to eating at home. Although sushi restaurants have converted to take-out, sales have still declined.

Retail sales of sushi and sashimi to households for home consumption elevated sharply, but sales of tuna products to restaurants remained stagnant. Japanese fresh tuna market is declining. The price of premium fresh tuna for sashimi processing in Japan has decreased, in addition, the cancellation of the spring festival and the rescheduling of the 2020 Olympics to 2021 has caused the demand for tuna in the market decline.

It is expected that in the coming time, when the Covid epidemic is not under control, Vietnamese tuna export to Japan is unlikely to go up.

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