Vietnam sold tuna worth nearly USD 3 million (EUR 2.9 million) to France in the first six months of 2022, up 203 percent year-on-year.
Vietnam exported mainly frozen tuna loins, canned tuna, and other processed tuna products to France in the period, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
VASEP said France also increased imports of tuna from other suppliers, including the Philippines (up 442 percent year-on-year) and Indonesia (up 42 percent year-over-year).
However, the devaluation of the euro against U.S. dollar is expected to make tuna products costlier, which will affect demand in France and the E.U. in general, VASEP said.
Sales of tuna from Vietnam to the E.U. were up 4 percent year-on-year to USD 77 million (EUR 75.6 million) between January and June 2022. But the total export value of Vietnamese tuna shipped to the E.U. has dropped for three consecutive months from April to June, with sales in June falling 25 percent year-on-year to USD 9.5 million (EUR 9.3 million).
The U.S. remained the top buyer of tuna from Vietnam, purchasing products worth more than USD 300 million (EUR 294.5 million) in the first half of the year, a 96 percent increase compared to the same period of 2021. VASEP said the lower output of tuna fishing fleet in the U.S. in the first six months and the impacts of high inflation have helped drive up demand for canned tuna in the U.S. market from various suppliers, including Vietnam.
The combined sales to countries under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the period rose 50 percent to USD 68 million (EUR 66.8 million). The pact includes Australia, Canada, Japan, New Zealand, Singapore, Mexico, Vietnam, Peru, Chile, Brunei, and Malaysia.
Overall, Vietnam exported tuna worth USD 90 million (EUR 88.3 million) in June and USD 553 million (EUR 542.8 million) in the first half, up by 41 percent and 56 percent, respectively.
VASEP said it is expected Vietnam's tuna sector to continue to grow in the second half, but at a slower pace. It predicted Vietnamese companies will earn USD 1.1 billion (EUR 1.08 billion) from tuna exports this year, up 45 percent from 2021.
Photo by Anthony J Rayburn/MSC
