After several months of declines, Vietnam tuna export to EU has recoverd in the remainder of this year.
Vietnam tuna exports to the EU is showing signs of recovery and upturn in the remainder of this year after several months of declines, hitting $87.9 million in the first ten months of 2016, a year-on-year rise of 4.9%.
Last year, EU countries imported processed tuna products while fresh, frozen and dried tuna products are staple imported items for this year reaching nearly $49 million in 10 months, up 22%, according to VASEP. Exports of processed tuna stood at just $39m, down 10%. Vietnamese tuna products are shipped to 20 EU countries, primarily to Italy, Germany and Belgium.
High tax rates have driven canned tuna products from Vietnam in a fix to compete at the EU market while similar products from Ecuador and the Philippines enjoy a zero percent tariff, according to VASEP.
Experts forecast that Vietnam tuna exports to the EU continue to increase in the remaining months as holidays of the year begin to come.