Gloomy prospects ahead for tuna exports to major markets
|
As a result of the negative impact caused by the COVID-19 pandemic, the demand for canned tuna increased, with the US increasing imports of the product from the country, with a rise of approximately 10% on-year.
The nation grossed roughly US$57 million from exporting tuna to the EU market during the six-month period, marking a fall of 17% from the same period last year.
Moreover, Vietnamese tuna exports to the EU bloc witnessed an unprecedented level of fluctuation. Most notably, tuna exports to the Netherlands suffered a decline in May, although they recovered strongly in June, while exports to the German market continued to record positive growth.
Although the European-Vietnam Free Trade Agreement is poised to come into effect in August, exports to the EU market are not anticipated to rebound in the near future due to the global impact of the COVID-19 epidemic.
Elsewhere, the ASEAN and Egyptian markets can be considered the bright spots for export growth, with export turnover reaching US$21 million and US$8 million, respectively, during the first half of the year.
This can be seen as the country’s exports of canned tuna to the ASEAN market increased sharply by 1,265% against the same period last year, whilst Egypt is currently importing a large quantity of processed and canned tuna from the Vietnamese market.
Related News
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Dong Nai Customs: understand the business situation to develop effective support solutions
13:27 | 04/04/2023 Customs
Tuna exporters aiming for smaller markets
15:51 | 27/03/2023 Import-Export
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Seafood enterprises propose to remove obstacles from exporting to the EU
10:34 | 02/04/2023 Import-Export
Need to effectively use tools to prevent exchange rate risks in import and export field
10:32 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export