The Russia-Ukrain conflict has caused price increase not only in energy commodities to, but also in food commodities in countries. This situation is creating the opportunities for Vietnamese seafood in general, and tuna in particular, to increase exports to other markets.
The US
By the end of June 2022, the total value of tuna exports to the US market reached more than 300 million USD, an increase of 96% compared to the same period in 2021. Vietnam's tuna exports continued to maintain a high growth rate in June. In the first 6 months of 2022, tuna catches in the East Pacific (EPO) were low, which affected the catches of the US fishing fleet. Besides, high inflation has pushed up the demand for canned tuna. All of this has boosted US tuna imports from sources, including Vietnam.
The EU
Vietnam's tuna exports to the EU have continuously declined in the past 3 months. Tuna export turnover to the market in June decreased by 25% compared to June 2021, reaching nearly 9.5 million USD, bringing the total export turnover in the first 6 months to 77 million USD, up 4% over the same period.
According to a report released by the European Union's (EU) data statistics agency Eurostat on July 1st, consumer prices of 19 countries in the eurozone rose 8.6% in June (consumption in this region a month ago was 8.1%). In which, the group of food items increased by 8.9%, showing that inflation is spreading in the eurozone. Despite recorded inflation, the European Central Bank (ECB) has not been able to raise interest rates as quickly as the US. This delay caused the euro to depreciate against the US dollar.
The price of tuna products increases due to higher costs of necessary goods, a strong dollar may cause the final tuna products imported into the EU from countries outside the bloc such as Vietnam, Philippines, Ecuador,.. to be more expensive. This has affected tuna imports of EU countries.
CPTPP
Tuna exports to Canada, Japan and Mexico continued to grow positively. By the end of June 2022, CPTPP is the third largest export market block of Vietnamese tuna exporters (after the US and EU). The demand for tuna imports from CPTPP countries reached US$68 million, up 50% over the same period last year. Of which, exports to Canada increased by 68%, to Japan by 26% and to Mexico by 30%. Particularly for Chile, export turnover to this market, after slowing down in May, showed signs of decreasing in June, down 48%.
In addition to the three major export markets above, in the first 6 months of 2022, tuna exports to Saudi Arabia, Thailand, the Philippines or Russia still grew well. Total export value of tuna to Saudi Arabia reached 1.2 million USD, to Thailand increased by 59%; Philippines up 86%...
At the beginning of this year, due to an increase in oil prices, 40-45% of fishing vessels nationwide had to lie on shore. This has greatly affected the supply of raw tuna for factories, especially the supply of raw materials of wholly obtained (ie, domestic origin). Therefore, tuna processing and exporting enterprises must import from countries and territories that do not have a free trade agreement (FTA) with Vietnam. This has made Vietnam's tuna exports unable to take advantage of the FTA to increase their competitiveness compared to other rivals.
It is forecasted that tuna exports in the second half of 2022 will continue to grow positively, but the growth rate will slow down. Tuna export turnover in 2022 is expected to reach about 1.1 billion USD, up 45% compared to 2021.
Compiled by My Hanh
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
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