Sales of tuna products from Vietnam to Italy have greatly benefited from a free trade agreement signed between the European Union and Vietnam.
The value of the exports of tuna to Italy soared to USD 5.55 million (EUR 4.68 million) in September, up nearly 8,600 percent compared to September last year, according to the latest data from Vietnam Association of Seafood Exporters and Producers (VASEP).
The high export value drove Italy to become the biggest buyer of tuna from Vietnam within the European Union in the month.
In the first nine months, Vietnam exported tuna worth USD 19.7 million (EUR 16.6 million) to Italy.
The jump in the export value in September was attributed to the European Union-Vietnam Free Trade Agreement (EVFTA), which entered into force beginning in August, VASEP said.
The EVFTA also helped boost tuna sales from Vietnam to the other markets within the E.U. Vietnam exported tuna worth USD 14.33 million (EUR 12 million) to the bloc in September, up 51 percent year-on-year. Between January and September, the country’s tuna exports to the E.U. were worth USD 98.2 million (EUR 82.7 million).
The value of the tuna exports to the United States recovered in the last two months. In September, the sales rose 2 percent year-on-year to more than USD 25 million (EUR 21 million). The U.S. market was the biggest buyer of frozen tuna loins of HS code 0304 and canned tuna from Vietnam as demand in the former was on the rise. VASEP expects the exports of canned tuna from Vietnam to the U.S. will continue to surge in the months ahead.
Exports of tuna from Vietnam to other major markets, such as Japan and Canada, also increased in September. However, sales to Egypt, its big market in the Middle East, declined in the month.
Exports of tuna from Vietnam are expected to rise to serve year-end seasons in many global markets, especially in the U.S. and E.U., VASEP said.
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