Since the end of 2023, Vietnam’s tuna exports have shown signs of recovery and are forecasted to increase in 2024, especially in the latter half of the year.
According to statistics from the Vietnam Customs, in January 2024, Vietnam’s tuna exports reached over 79 million USD, up 58% compared to the same period in 2023, as January 2023 coincided with the Lunar New Year holiday. However, when compared to the period since 2018, the sales volume in January 2024 still surpasses the yearly average by about 46% – a truly positive signal for the start of the new year in 2024.
From the end of 2023, exports to various markets have been on the rise.
The top 10 main tuna export markets for Vietnam in January 2024 have changed, including the United States, Israel, Russia, Canada, Japan, Italy, Germany, the Netherlands, Thailand, and Poland. Compared to the same period in 2023, except for Thailand, exports to the other markets have all increased significantly.
In the EU market bloc, the reopening of preferential tariff quotas under the agreement in the EU-Vietnam Free Trade Agreement (EVFTA) is significantly boosting tuna export orders to this market in the first month of the year. Exports to most EU countries have seen substantial increases. Italy remains the leader in terms of export value in January 2024, with a nearly fivefold increase compared to the same period. Alongside Italy, exports to Poland and Sweden have also surged.
In the Middle East market bloc, despite the ongoing conflict between Israel and the Hamas movement, exports to some markets in this region are experiencing strong growth. Specifically, exports to Israel have increased by 43%, Lebanon by thirteenfold, Egypt by 43%… Currently, concerns about the escalating conflict are increasing the demand for long-shelf-life food products like canned tuna in these markets, thereby boosting exports.
Source: VASEP
