Tuna export market experiences significant fluctuations in early 2025

News 08:58 06/03/2025 Bảo Ngọc
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.

According to data from Vietnam Customs, the export turnover of tuna products from Vietnam in the first month of the year dropped by 16% compared to the same period, reaching over 66 million USD.

Among the various tuna product categories, all experienced a decline, except for fresh, frozen, and dried tuna (HS03 code) — excluding frozen tuna meat/loin (HS0304). Canned tuna exports saw the most significant decline, with a 36% decrease compared to the same period. This decline is attributed to the shortage of supply from domestic tuna fleets, making it difficult for Vietnamese canned tuna products to compete in markets with Free Trade Agreements (FTAs) like the EU, CPTPP, etc.

Vietnam’s tuna exports in January 2025 to major markets such as the US, EU, Israel, Japan, and Canada have all decreased compared to the same period last year.

Tuna exports to the US dropped slightly by 2%, totaling nearly 26 million USD. With concerns over potential tax increases, US importers increased their imports in the last months of 2024, which has led to high inventory levels in the early months of 2025. Moreover, fears over President Donald Trump's decision to impose new tariffs have caused US importers to limit new order placements. These factors are expected to impact tuna imports in the US during the early months of 2025.

Exports to the EU were also not promising in the first month, decreasing by 13%. Notably, canned tuna exports to this market dropped sharply by 21% compared to the same period. The preferential tariff quotas under the EVFTA agreement have been reactivated, but the ongoing shortage of domestic tuna supply continues to hinder canned tuna exports to this market.

Exports to markets within the CPTPP bloc also showed little improvement. Exports to Japan and Canada decreased significantly, with a reduction of 26% and 36%, respectively.

In 2025, the global tuna market is expected to continue fluctuating due to changes in consumer behavior, tariff policies, and supply-demand volatility. The free trade agreements between Vietnam and other countries will provide advantages for Vietnamese tuna exports to markets such as the EU, UAE, Japan, Canada, and more. However, meeting the origin rules remains a major challenge for the Vietnamese tuna industry. Standards for traceability, sustainable fishing, and combating IUU (Illegal, Unreported, and Unregulated) fishing are becoming mandatory conditions in major markets.

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