Surge in Tuna Exports to Italy

According to the General Department of Vietnam Customs, Italy has become Vietnam’s largest tuna export market in the European Union, as reported by VNA & VOV.

The statistics show changes in tuna exports to Germany, the Netherlands, and Italy, the three leading import markets of the bloc, in October. While tuna exports to Germany and the Netherlands decreased significantly, exports to Italy increased 30 times, making it the largest importer of Vietnamese tuna.

Illustrative photo. Photo: VNA

Meanwhile, statistics show that exports to Poland in the first nine months have increased by 125% to exceed USD 4 million.

The Vietnam Association of Seafood Exporters and Producers (VASEP) noted that Poland is the seventh-largest EU market for Vietnamese tuna, and the continuous growth of tuna imports in Poland over the past five years presents a great opportunity for Vietnamese products in the country.

Vietnam is currently the third-largest non-EU supplier of tuna to Poland, following Ecuador and the Philippines. While the Philippines’ exports to Poland have been decreasing, Vietnam’s exports are on the rise, the association said.

Among the tuna products shipped to Poland, canned fish accounts for the largest proportion, more than 83%, with a surge of 211% in value.

Businesses attribute the significant increase in exports to Poland to the impact of inflation. Higher prices in supply chains such as vegetable oil, cans, and carton packages have also boosted importers’ direct purchases.

The VASEP assesses that the demand for Vietnamese seafood in the EU is gradually increasing again due to preparations for the year-end festival season. The EU is expected to be a bright spot for exports in the last months of this year, as it is considered to have a more stable economy than other key markets.

Although exports to the UK have fallen in recent months, total tuna shipments to the UK have still increased by 48% during January – September, surpassing USD 5.5 million. The export value of fresh and frozen tuna products has risen sharply compared to the same period last year.

Vietnam currently holds a modest market share of 1% and ranks 13th among the tuna suppliers for the UK, according to VASEP.

In October, the value of tuna exports to the EU exceeded USD 15 million, down 19% year on year. However, the 10-month export value rose 1% to more than USD 143 million.

Meanwhile, tuna exports to the United States and Canada increased by 6% in October, after experiencing a decline in previous months. The export value of tuna products to Chile, the Philippines, and the Republic of Korea also saw significant increases of 406%, 116%, and 402% respectively.

Notably, the Republic of Korea is currently among the top 15 markets importing the most tuna from Vietnam.

During the first 10 months of 2023, tuna exports brought in USD 693 million, showing a 22% year-on-year decrease and ranking third among aquatic products, reported VASEP.

During this period, the total overseas shipments of aquatic products decreased by 21% to USD 7.4 billion, with all the products recording lower export revenue compared to the same period last year, according to VASEP.