The COVID-19 pandemic continues to negatively impact Vietnam’s exports of tuna, with the country posting lower sales value in the first 11 months of 2020, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The country exported tuna worth nearly USD 600 million (EUR 490.8 million) from January to November last year, down 11 percent year-on-year. As lockdowns were imposed in several key markets, demand for fresh and frozen tuna declined but demand for canned tuna rose.
As a result, the country's exports of fresh and frozen tuna fell 26 percent in value in the first 11 months, while sales of canned and processed tuna increased 9 percent year-on-year, VASEP said.
Vietnam exported its tuna products to 106 markets in the world, but many of its key markets, including the United States and ASEAN nations, decreased their purchases due to pandemic impacts.
Vietnam’s export value of tuna to the U.S. fell 12.4 percent year-on-year to USD 261 million (EUR 213.5 million) from January to November, as the growth in canned tuna sales failed to offset the decline in sales of fresh and frozen tuna.
In the U.S., the presence of low-priced canned tuna from China was upping competition in the market. Moreover, major importers such as Walmart, Bumble Bee, and Chicken of the Sea were seeking sustainable tuna products certified by the Marine Stewardship Council (MSC), which is likely to reduce demand for tuna from traditional suppliers, according to VASEP.
Sales of tuna from Vietnam to ASEAN nations dropped nearly 28 percent year-on-year to USD 35.5 million (EUR 29 million) in the first 11 months. The value of Vietnam's exports to Thailand tumbled by 27.5 percent year-on-year in the period.
The European Union was one of the few markets where Vietnam increased its sales between 1 January and the end of November. Vietnam’s tuna export value rose 0.5 percent year-on-year in the first 11 months as frozen and canned tuna products from Vietnam benefited from the European Union-Vietnam Free Trade Agreement (EVFTA) that came into force from 1 August last year, VASEP said.
Photo courtesy of Tran Thi Hai Yen/Shutterstock
