The value of tuna exports from Vietnam to the United States and European Union has risen in the first six months of 2019, thanks to the U.S.-China trade war and clearance of material shortage, the Vietnam Association of Seafood Exporters and Producers (VASEP) said in a statement on Wednesday, 31 July.
Vietnam earned USD 159 million (EUR 142.6 million) from sales of tuna to the U.S. in the first half of the year, soaring 61 percent from the same period in 2018.
The U.S. raised import tariffs on tuna products from China to 25 percent from 10 percent on 10 May, forcing U.S. importers to look for cargoes from other suppliers, including Vietnam and Thailand, said VASEP.
The value of the tuna exports from Vietnam to the E.U. also rose slightly – by 0.7 percent year-on-year – to nearly USD 71 million (EUR 63.7 million) between January and June.
In the first quarter, tuna exporters from Vietnam to the E.U. were desperately seeking help as a number of local fishing ports refused to grant certificates of origin for tuna catches, starting at the beginning of the year. As the issue was later addressed, the export value to the bloc recovered in the second quarter, said VASEP. Italy and the Netherlands were two main buyers of tuna from Vietnam in the first half of 2019.
Vietnam and the E.U. signed a free trade agreement in Hanoi on 30 June. VASEP said this agreement will help tuna products from Vietnam gain more advantages over those from Thailand and China, which have not inked similar deals with the E.U.
Vietnam exported tuna worth USD 366 million (EUR 328.4 million) in the first six months of this year, up 21 percent year-on-year. In the second quarter alone, the export value increased 23 percent to USD 203 million (EUR 182.1 million).
As of 2017, Vietnam had 47,870 tuna fishing boats coming mainly from Binh Dinh, Phu Yen, and Khanh Hoa central provinces.
In 2018, Vietnam exported tuna worth USD 592.9 million (EUR 531.9 million), more than double from 2010, according to the Ministry of Agriculture and Rural Development.
Image courtesy of Toan Dao/SeafoodSource
