According to statistics from Vietnam Customs, a rise in Vietnam’s tuna exports in the first 7 months of this year was driven by an increase in exports of frozen tuna loins/fillets and other processed tuna. The export value of frozen tuna loins/fillets in this period climbed by 8% over the same period last year while that of other processed tuna increased by 65%.
The U.S
Vietnam's tuna exports to the U.S in July 2018 continued to decline. The export value in the first seven months of the year reached US$118 million, down 8% over the same period in 2017. This made the proportion of tuna exports to the U.S market decreases.
Meanwhile, exports of other processed tuna of Vietnam to the U.S this year increased sharply at the 3-digit.
This year imports of canned tuna products into the U.S increased sharply. These tuna species are of lower quality and cheaper which are creating unfair competition.
The EU
In July, Vietnam’s tuna exports to EU increased by 19%. The figure in the first 7 months increased by 22% to reach US$84 million.
After the recovery in June, Vietnam's tuna exports to Germany, Vietnam's largest tuna importing market in the EU fell by 18%. Meanwhile, exports to Italy and Spain recorded the high growth.
Exports of frozen tuna loins/fillets and other processed tuna of Vietnam to the EU increased, while those of canned tuna and other fresh/live/frozen tuna products declined. Notably, exports of other processed tuna products of Vietnam to this market increased dramatically by 305%.
Demand for canned tuna in the EU has been low since the beginning of the year. And in recent months, tuna production was low and supplies to the main producing regions such as Manta, Ecuador and Bangkok, Thailand dropped. Therefore, tuna prices inched up in the first month of the year, and this has affected the demand in the EU market.
Israel
Continuously from the beginning of 2018, Vietnam’s tuna exports to Israel increased continuously. Vietnam's tuna exports to this market continued to increase by 44% compared to July 2017, the figure in Jan-Jul 2018 estimated at nearly US$45 million, an increase of nearly 62% over the same period of 2017.
In the context of demand for canned/processed tuna in large markets such as the EU and U.S being low, Israel expected to be a potential market for these products of Vietnam. Vietnam's processed/canned tuna exports to this market showed the good results.
In Israel's canned/processed tuna segment, Thailand continues to be the biggest supplier, followed by Vietnam. Meanwhile, in the Israel's frozen tuna segment, Vietnam stayed as the leading supplier and had almost no competitors.
ASEAN
As Israel, Vietnam’s tuna exports to ASEAN also increased continuously. In the first seven months of 2018, Vietnam's tuna exports to this market amounted to nearly US$28 million, an increase of 62% over the same period in 2017. Thailand was the largest tuna importer of Vietnam, accounting for 73% of total tuna export value of Vietnam to ASEAN.
With export results in the first 7 months of this year, Vietnamese exporters are successfully moving to Asian markets.
Tuna consumption in the U.S and the EU is predicted to remain low in 2018 while Israel and ASEAN expected to be the potential alternative markets of Vietnam in the coming time.
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