Vietnam saw its tuna export value rise in the first two months thanks mainly to the increase in sales to the U.S. and the E.U., according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The country shipped tuna worth USD 155 million (EUR 141 million) over January-February, with February sales rising 57 percent year-on-year to USD 67 million (EUR 61 million). Of that total, the exports of fresh, frozen, and dried tuna products were worth USD 106 million (EUR 96.4 million) in the first two months of the year, accounting for 68.4 percent of the total export value.
Khanh Hoa was the province which has the largest tuna export value in Vietnam, accounting for 45 percent of the country’s total export value of the fish, followed by Binh Dinh Province (13 percent), Long An Province (9 percent) and Phu Yen (9 percent).
The value of tuna exports from Vietnam to the U.S. in the first two months was USD 80 million (EUR 72.7 million), soaring 99 percent from a year earlier and accounting for 51.6 percent of the total value.
Tuna exporters from Vietnam also boosted shipments to other markets that have signed free trade agreements with Vietnam.
Sales to the E.U. grew 52 percent year-on-year to nearly USD 24 million (EUR 21.8 million) in the first two months. The Netherlands became the largest buyer in the bloc, up 114 percent year-on-year, followed by Germany and Belgium.
The free trade agreement between the European Union and Vietnam, or EVFTA, took effect in August 2020. It gave Vietnam annual quotas for duty-free imports of 11,500 metric tons (MT) of canned tuna, and with taxes for other tuna products gradually being reduced or abolished.
Tuna exporters from Vietnam also took advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to increase sales to members such as Canada and Mexico, VASEP said.
The pact, which includes Australia, Canada, Japan, New Zealand, Singapore, Mexico, Vietnam, Peru, Chile, Brunei, and Malaysia, became effective for Vietnam in January 2019.
Vietnam has 110 tuna exporters, with the top five companies- Bidifisco, Dragon Waves, Mariso Vietnam, Tithico and Havuco-accounting for 39 percent of the country’s total export value.
Photo by Toan Dao/SeafoodSource
