Vietnamese tuna exports shows some effective changes
There are some effective changes in sales of Vietnamese tuna in the US and China markets in October, making export value of this species in the whole country reach 67 million USD, up 16% year-on-year. Vietnamese tuna exports in ten months of the year reaches nearly 541 million USD, up 11% year-on-year.
After consecutive slump of tuna exports to the US market, slight increase in sales has been recorded with 26 million USD in October, up 35% as compared to the same period last year. The US is consideredthe most potential market of Vietnamese tuna companies as it accounts for 34% of total Vietnam’s tuna export value. After the US buyers stop sending their orders to China due to concerns of tax increase, it opens up opportunities for tuna exporters including Vietnam. Hence, Vietnam hopes to see more increased in tuna exports to the US market in next months.
After a while of impressive growth, Vietnamese tuna exports to the EU market decreases slightly in October with 18 million USD in value, down 4% as compared to the previous year. The whole country gains 136 million USD from tuna export in ten months, up 18%.
Increase in sales are recorded in Spain and Netherland but decrease remains in German and Italy.
Export price of Vietnamese tuna to the EU market is going up, leaving a decline in demand which is expected to grow at the end of the year since consumers prepare for festivals. Besides, EU tuna buyers are thinking about sending orders to China, Thailand, and Vietnam as quota of importing boiled and frozen tuna loin/fillet is imposed on 01 January until import volume reaches 25,000 tons. It is important for instant transport and loading at EU ports before quota is filled. Vietnamese tuna exports to EU, therefore, may increase.
Countries of the Middle East group continue to import tuna from Vietnam with Israel paying 2.7 million USD for Vietnamese tuna products in October, up 88% year-on-year. Thus, in ten months of the year export to this Israel market increases by 52% as compared to the same period of 2017. Israel is a potential market for Vietnamese canned tuna which is close to saturation in the US, EU and Japan. Tuan export is forecasted to increase in not only Israel but other countries like Egypt.
After a while of increase in sales, Vietnamese tuna export to ASEAN has seen some declines with 5.1 million USD in October, down 17% year-on-year. This is due to decrease in sales to Thailand, the largest buyer of the group. It is forecasted that Vietnamese tuna exports to this market will slows at the end of the year as the production of tuna material faces some difficulties.