Tuna Exports Soar

10:00:37 AM | 7/22/2022

Vietnam’s tuna export reached US$90 million in June, up 41% year on year, bringing the six-month value to US$553 million, up 56% on year, said Vietnam Customs. Tuna export shipments to main markets grew well, except for the EU, Israel and Egypt.

Tuna shipments to the United States were valued at more than US$300 million in the 6-month period, representing year-on-year growth of 96%. Vietnam’s tuna export extended its high growth in June.

Tuna exports to Europe rose 4% on year to US$77 million in the January-June period. However, many European countries are facing record inflation while the euro has depreciated sharply, making imported tuna products from Vietnam, the Philippines and Ecuador more expensive. Therefore, exporters need to take into account these factors to maintain growth momentum.

In the CPTPP market, tuna exports to Canada, Japan and Mexico extended positive growth, growing 50% from a year earlier to US$68 million. Specifically, shipments to Canada, Japan and Mexico looked up 68%, 26% and 30%, respectively. June tuna exports to Chile plunged 48% after the May slowdown.

Vietnam’s tuna exports are forecast to slow down in the second half of 2022, but still bring full-year value to US$1.1 billion, up 45% compared to 2021.

By Huong Ly, Vietnam Business Forum