HANOI: Tuna export orders are likely to increase sharply in the last months of the year due to decreasing inventories in major export markets and the recently signed Vietnam-Israel Free Trade Agreement, the Vietnam Association of Seafood Exporters and Producers (Vasep) forecasts.
Vasep said domestic tuna exporters could expect positive prospects in the second half of this year.
The association said the stockpiled quantity of tuna in the United States – one of the main markets of Vietnam – has begun to decrease and importers were considering speeding up imports.
By the end of the year, major markets such as the United States will have many festivals, so consumer demand will increase. Meanwhile, preferential tariffs are an advantage that has pushed European Union (EU) importers to seek orders from Vietnam.
Over the past seven months of the year, Vietnam’s tuna exports reached nearly US$445.6mil, down 31% year-on-year, Vasep said.
While exports of high-value fresh, frozen and dried tuna products decreased 46%, shipments of processed and canned tuna goods saw a modest rise of 4% to over US$204mil, it said.
Besides, exports to the EU, Mexico, Israel and Thailand had recorded high growth over the same period of 2022.
The EU market showed signs of recovery, with a growth rate of 28% in June and July, earning Vietnam a turnover of US$12mil per month.
Notably, in the bloc, exports to the Netherlands also continuously grew remarkably while that to Germany maintained an increase of 30% in June and July.
At the same time, Vietnamese tuna exports to Mexico and Chile also recorded significant hikes of 100% and 90%, respectively. Meanwhile, tuna shipments to Thailand also soared 65% in the last two months. — Viet Nam News/ANN
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
