Tuna exports expected to grow strongly
The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that tuna exports will continue to grow this year, fueled by increasing demand and favorable tariff policy changes in international markets.
USD 1 billion in export value
According to customs data, tuna export revenue in 2024 reached $989 million, up 17% from 2023. Notably, after a continuous decline in the early months, exports of other processed tuna products saw steady growth in the final months, rising 24% year-on-year and accounting for 17% of total export revenue.
On the contrary, canned tuna exports tended to decline in the second half of the year, despite an overall annual increase of 17%. Frozen tuna meat/loin products maintained the largest market share. In 2024, exports in this category rebounded, showing a strong upward trend in the year’s final months.
By the end of 2024, tuna exports to major markets had surpassed 2023 levels. However, growth showed signs of instability in the year’s second half. While exports to the EU and Canada rebounded, shipments to Japan and Israel continued to decline.
According to VASEP, tuna exports are expected to sustain their growth in 2025, driven by rising consumer demand. Additionally, changes in international tariff policies, particularly in the U.S., will boost exports. During President Donald Trump’s term, Vietnam may continue benefiting from high tariffs on Chinese imports.
Motivate fishermen, facilitate businesses
However, tuna exports continue to face significant challenges. Businesses report that exports to other markets are slowing due to difficulties in obtaining the Seafood Catch Certificate (SC) and Catch Certificate (CC) required for traceability.
On December 5, 2024, the Prime Minister issued Official Telegram No. 127/CĐ-TTg on rectifying the issuance of certificates of origin for harvested seafood and local catch certificates. However, fish port management units and local fisheries authorities have yet to fully comply with regulations or have applied them rigidly and mechanically. In some cases, they have misinterpreted regulations, imposing unwarranted requirements that complicate the issuance of SC and CC certificates for seafood exports. As a result, application backlogs continue to disrupt production and export activities.
As of January 1, 2025, tariff quota preferences under the European Union – Vietnam Free Trade Agreement (EVFTA) have been reinstated. Meanwhile, despite the peak offshore fishing season, many skipjack tuna vessels in the three key provinces remain docked due to a shortage of fish meeting size regulations, ensuring financial losses for fishermen if they set sail.
According to fishermen, the purchase price of tuna from wholesalers has dropped significantly. As a result, fishing vessels either face fuel cost losses or struggle to cover labor expenses. In this situation, businesses cannot source pure-origin skipjack tuna for export under preferential tax policies. If this continues, fishermen will lose their income, businesses will lose market share, and importers may turn to alternative suppliers like the Philippines or Ecuador, which also enjoy tariff incentives.
Additionally, Thailand is actively negotiating a Free Trade Agreement with the EU. In today’s competitive market, losing access can make recovery extremely challenging. As a result, businesses and fishermen are eagerly awaiting an adjustment to the minimum allowable catch size for skipjack tuna (50cm) under Decree 37/2024/NĐ-CP.
To further promote tuna exports, VASEP emphasizes the need for solutions that help fishermen comply with legal regulations, including IUU (Illegal, Unreported, and Unregulated) fishing, while staying motivated to enhance offshore fishing, reinvest in their operations, and maintain stable exploitation and consumption of raw materials.
Key measures include establishing an auction market to ensure fair pricing for fishermen and facilitate traceability data collection. Additionally, it is essential to continuously review and appropriately amend regulations on fishing zones (coastal, inshore, and offshore) and update minimum catch size requirements for certain species, particularly skipjack tuna, yellowfin tuna, and other migratory species.
For businesses, continue reviewing and refining the processes for issuing SC and CC certificates to resolve recent issues. Streamline the registration process for selecting sampling inspection methods (by production or export batch) by allowing businesses to decide when submitting their export production plans, based on factory scale.
VFM
