(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
Among Vietnam's exported tuna products, canned tuna exports experienced a decline in November. The export value for this product decreased by 8% year-on-year, which was one of the main reasons for the slower growth of Vietnam's tuna exports toward the end of the year.
In November, exports to key markets such as the EU, Israel, Russia, Japan, and South Korea declined compared to the same period last year. Although exports to the U.S. continued to grow, the growth rate slowed down.
In the EU market, tuna exports to Italy and Germany dropped significantly in November, with decreases of 95% and 39%, respectively, compared to the same period. Conversely, exports to the Netherlands increased slightly, by only 3%.
Similarly, tuna exports to Israel and Russia, after a period of strong growth, plummeted in November. Geopolitical instability in these two markets is impacting Vietnam’s tuna trade.
In the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market bloc, tuna exports to Japan, which saw consistent high growth in September and October, reversed in November with a 6% decrease. However, thanks to the growth in earlier months, cumulative exports to this market for the first 11 months still increased by 4% year-on-year.
Meanwhile, exports to Canada, which had previously declined, rebounded in November with an 11% year-on-year increase. Alongside Canada, exports to Mexico and Chile continued to show strong growth during the month.
According to enterprises, demand in various markets remains high; however, challenges related to raw materials and export procedures are hindering export activities. Businesses are urging the government to promptly revise regulations on the minimum size of skipjack tuna (50cm) permitted for harvesting under Decree No. 37/2024/NĐ-CP to facilitate export activities in the coming year.