Strong sales to the United States boosted Vietnam’s earnings from its tuna exports in January 2022, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The U.S. was Vietnam’s top customer at USD 44 million (EUR 39.1 million) in sales, up 210 percent from January 2021 and 5 percent month-on-month.
Overall, Vietnam shipped tuna products worth nearly USD 88 million (EUR 78.3 million) in January, a 108 percent year-on-year jump and up 0.5 percent from December 2021. Its sales to the European Union accelerated as well, with the Netherlands and Lithuania upping their purchases by 243 percent and 1,938 percent, respectively. Vietnam’s tuna exports to Canada rose 26 percent year-on-year in January, its sales to Peru lifted 2,298 percent, and its Chile sales increased by 219 percent year-on-year).
However, the value of Vietnam’s exports to Japan and China declined in January.
VASEP said the increase in exports in January showed that tuna producers in Vietnam are taking advantage of a global recovery in demand for tuna products, and are benefiting from free trade agreements including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA).
In January, Vietnam’s sales of frozen tuna fillets of HS0304 code rose 172 percent, accounting for more than 66 percent of its tuna export value. The value of the exports of other processed tuna, mostly frozen cooked tuna loins, surged 278 percent compared to a year ago.
Khanh Hoa was the largest tuna-producing province in Vietnam, with sales of nearly USD 40 million (EUR 35.6 million) in January, followed by Binh Dinh province with USD 11 million (EUR 9.8 million) and Long An province with USD 7.7 million (EUR 6.8 million).
Currently there are 72 tuna exporters in Vietnam, with the leading five companies including Bidifisco, Dragon Wave, Tithico, Highland Dragon, and Nha Trang Bay accounting for nearly 46 percent of the country’s total tuna export value.
VASEP said the tuna industry will face several hurdles this year, including exorbitant freight rates and a tightening of inspection measures for pandemic prevention and food safety in several countries. However, higher demand from the foodservice sector in many countries will help tuna exporters maintain momentum in the coming months, VASEP said.
Photo courtesy of VASEP
