Tuna exports exceed 90 million USD a month

This is the first time in more than 2 years the monthly export value of tuna has exceeded the 90 million USD mark.

Tuna exports exceeded 90 million USD a month after more than 2 years. (Photo: Vasep)

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), if this growth trend is maintained, Vietnam’s total tuna export turnover in 2024 is likely to reach 1 billion USD, up 18% compared to 2023.

Tuna export turnover to key markets has seen positive growth in October, except for two markets, the EU and the Republic of Korea.

In particular, quota exhaustion and IUU issues caused tuna exports to the EU to decrease by 15% in October. However, thanks to good growth in previous months, total exports to this market still increased by 17%.

After a slow growth rate in the third quarter, tuna exports to the US have seen positive changes in the last months of the year. High consumption demand at the end of the year along with impacts from the presidential election have boosted the country’s tuna import demand. Specifically, tuna exports to the US surged by 30% in October.

Along with the US market, Middle Eastern countries are also increasing tuna imports from Vietnam. Exports to this region are growing rapidly, especially in markets such as Israel, Egypt and Saudi Arabia in the past ten months.

In spite of being affected by political conflicts, the signing of the Vietnam - UAE Comprehensive Economic Partnership Agreement (CEPA) has created a new driving force, strongly promoting tuna exports to the Middle East.

In addition, the recovery of the Japanese economy and the strengthening of the Japanese Yen have contributed to the strong growth of tuna exports to this market in October, which increase nearly 31%./.