After a period of decline in 2023 and early 2024, Vietnam’s tuna exports to Spain have experienced a significant rebound. From March 2024 onwards, there has been a marked increase in the volume of tuna exports to this European market.
Statistics from Vietnamese Customs indicate that in May 2024, tuna exports to Spain soared by 182% compared to the same month in 2023, reaching nearly 1.8 million USD. This figure even surpasses the export values from 2022. Over the first five months of 2024, cumulative tuna exports to Spain exceeded 5 million USD, reflecting a 32% rise year-on-year.
Spain has shown a particular interest in frozen tuna meat/loins, classified under HS code 0304, which are the most imported tuna products from Vietnam. Additionally, there has been a noticeable uptick in the export of frozen steamed tuna loins to this market in 2024.
Currently, ten Vietnamese companies are active in exporting tuna to Spain, with Trang Thuy Seafood Co., Ltd, Bidifisco, and Tuna Vietnam leading the charge. These three companies collectively account for 60% of Vietnam’s total tuna export value to Spain.
Vietnamese tuna faces competition in Spain from Ecuador, China, and the Philippines. These countries benefit from strong fishing fleets and a more abundant supply of domestic raw materials, challenging Vietnam’s position in the market.
VFM
