Vietnam boosts tuna exports to US in October, thanks to trade war
The tariff conflict between the United States and China has enabled Vietnam and other tuna exporters to increase shipments to the United States and this trend is expected to continue in the coming months, Vietnam Association of Seafood Exporters and Producers (VASEP) said in a statement last week.
In October, Vietnam exported tuna worth USD 26 million (EUR 22.9 million) to the United States, soaring 35 percent from the same month in 2017 and up 36.8 percent month-on-month. The rise in October was reached following continuous declines in the previous months. And it was made when U.S. importers suspended cargoes from China due to higher duties, said VASEP.
The value of tuna exports from Vietnam to the United States in the first 10 months stood at USD 183 million (EUR 161.2 million), down nearly 3 percent from the same period last year.
The U.S. was the biggest buyer of tuna from Vietnam, followed by the European Union. In October, Vietnam shipped tuna worth USD 18 million (EUR 15.9 million) to E.U., down 4 percent year-on-year.
VASEP, however, expects shipments to the E.U. to increase by the year-end to meet rising demand during holiday season in Europe.
Between January and October, Vietnam exported tuna products worth USD 136 million (EUR 120 million) to the E.U., up 18 percent year-on-year as the export value was high in previous months.
The export value to the Association of Southeast Asia Nations (ASEAN) also fell in October to USD 5.1 million (EUR 4.5 million), down 17 percent from last year mainly due to the decline in the value gained from Thailand, the largest importer of tuna from Vietnam in the bloc, according to VASEP.
Vietnam also exported tuna worth USD 2.7 million (EUR 2.4 million) to Israel in October, jumping 88 percent from the same month last year.
In total, exports of tuna from Vietnam in October were up 16 percent year-on-year to USD 67 million (EUR 59.1 million). In the first 10 months, the country exported tuna worth USD 541 million (EUR 477.6 million), up 11 percent from 2017.