Vietnam tuna exports rebounded

According to the statistics from Vietnam Customs, Vietnam’s tuna exports in June 2018 touched nearly US$57 million, up 12.6% over the same period in 2017. The figure in the first 6 months of the year estimated nearly US$303 million, up 12% over the first half of 2017.

Of that, exports of fresh/live/frozen and dried tuna (HS code 03) reached US$159 million, accounting for 52.5% of total tuna export value of Vietnam in Jan-Jun 2018; the remaining was processed items. Vietnamese sales of fresh/live/frozen and dried tuna this year increased by 5.7% compared with the first half of 2017; of which exports of frozen tuna loins/fillets increased over 10%. Similarly, exports of canned/processed tuna also increased by 19% over the same period last year thanks to a 67% rise in canned tuna exports.

Top 8 major importing markets for Vietnamese tuna remained unchanged from the beginning of the year. However, the growth rate of export to some key markets has been positive.

The U.S

Vietnam's tuna exports to the U.S continued to decline. Therefore, Vietnam’s total tuna export value to the market in the first half of this year decreased by 8.3% to hit US$99 million. Exports of tuna items of Vietnam to the U.S continued to decrease over the same period, except for other processed tuna.

This year, imports of canned small tuna into the U.S continued to fall down. These products are sold as new Chunk Light tuna steaks, mainly in the food service sector. These products are creating an unhealthy competition in this market.

The EU

After the decline of imports in May 2018, Vietnam's tuna exports to the EU suddenly rebounded. The figure in June 2018 reached US$12.7 million, up 18.5% over the same period last year. As a result, the total tuna export value of Vietnam to the EU in the first half of 2018 increased by nearly 23% over the same period in 2017, reaching more than US$71 million.

In June 2018, Vietnam’s tuna exports to Germany- the largest importing market of Vietnam in the EU – went up compared to June 2017. Therefore, Vietnam's tuna exports to the three largest importers in the bloc in the first half of the year increased year on year.

Exports of frozen tuna loins/fillets of Vietnam to the EU have increased by over 31% over the same period of 2017. Sales of other processed tuna items inched up over 305% from a year before.

Israel

Vietnam's tuna exports to Israel continued to post the growth of 131% in June 2018. Therefore, the market continued to stay as Vietnam's third largest tuna buyer in the first half of 2018.

This remarkable growth was driven by enterprises promoting exports of canned/processed tuna to the market. The export value of this item to Israel in the first half of 2018 reached over US$29 million, up nearly 96% over the same period last year. Besides, exports of other tuna products of Vietnam to Israel also increased over the same period last year.

In the context of the increasingly fierce competition in the U.S market and a fall in consumption demand, Vietnam’s tuna exports to this market in the coming time forecasted to slow down. Meanwhile, exports to alternative markets such as Israel will continue the rise. Exports to the EU expected to be more favorable as the negotiation of the FTA between the EU and Vietnam is coming to an end.