The total value of Vietnam’s tuna exports declined 6 percent year-on-year in August, but sales to many markets – including the United States and Israel – surged significantly compared to a year ago, the Vietnam Association of Seafood Exporters and Producers (VASEP) said 24 September.
In the month, the export value to the United States and Israel grew 5.2 percent and 238 percent year-on-year, respectively, VASEP said, without providing the sales values.
The pandemic has negatively affected demand for fresh and frozen tuna in the U.S. However, importers in the U.S. boosted purchases of processed and canned tuna from Vietnam for retail purposes, driving up the year-on-year growth of these products to 97 percent in August.
Vietnam mainly exported cooked tuna loins (HS code 16041490) and frozen tuna (HS code 03048700) to the U.S. in the month. Average prices of these products were USD 6.60 and USD 9.30 (EUR 5.70 and EUR 8.00) per kilogram, respectively.
However, sales of tuna from Vietnam to the European Union fell 17 percent year-on-year in August, following a growth of 65 percent in July, despite a significant growth recorded in Germany and the Netherlands.
As it took at least three weeks for shipments from Vietnam to arrive Europe, exporters from Vietnam had shipped a massive volume of tuna in July. The cargoes were kept at storage facilities in European ports and were ready for customs clearance to enter the markets from 1 August to take advantage of the European Union-Vietnam Free Trade Agreement (EVFTA), VASEP had said.
According to VASEP, the decline in the tuna sales to the E.U. in August was understandable because the United Kingdom, which is the biggest European buyer of canned tuna from Vietnam, was no longer within the bloc.
Vietnam largely exported frozen tuna (HS code 03048700), canned tuna (HS code 16041419) and frozen cooked tuna (HS code 16041490) to the E.U. in the month-which enjoy preferential tariff treatment under the EVFTA. Average prices of the frozen tuna and frozen cooked tuna from Vietnam to the bloc in August were USD 6.41 and USD 4.98 (EUR 5.50 and EUR 4.30) per kilogram, respectively.
Sales to Japan, another important market for tuna from Vietnam, also shrank nearly 35 percent year-on-year in August due mainly to the COVID-19 pandemic.
It is forecasted that Vietnam’s export value of tuna is not likely to recover soon because of the negative impacts from the pandemic. However, sales to some major markets are expected to grow positively in the remaining months of the year, VASEP said.
Image courtesy of Toan Dao/SeafoodSource
