According to the Association of Seafood Exporters and Producers (VASEP), tuna exports will continue to grow compared to the same period in 2021, but the export value tends to decrease month by month due to the increase in inflation in main export markets such as the US and the EU, and the slowdown in consumption demand.

According to VASEP, in September 2022, tuna exports reached more than USD 78 million. This figure, although still an increase of 54% over the same period in 2021, is 15% lower than the previous month, August.

Accumulated over the first 9 months of 2022, Vietnam's tuna exports reached nearly USD 808 million, an increase of 55% over the same period in 2021. With the export results achieved in the past 9 months, it is expected that Vietnam's tuna exports will soon peak USD 1 billion.

The US continues to be Vietnam's largest tuna export market with turnover in September reaching over USD 31 million, an increase of 33% over the same period in 2022, 14% lower than the previous month, August.

Exports to the CPTPP in September continued to increase by 95% over the same period, reaching nearly USD 11 million, but 32% lower than the previous month. Exports to Israel and Saudi Arabia are also slowing down, the growth rates in September were 24% and 577% respectively over the same period, 35% and 44% lower than in August, respectively.

Meanwhile, exports to the EU in September reached nearly USD 18 million, an increase of 64% over the same period. This figure is 27% higher than the previous month, August. This year, due to the high cost of sea freight, EU canners do not want to ship their goods through the port of Rotterdam in the Netherlands, which will add to the cost of their CFR bill. Therefore, Vietnam's tuna exports to EU markets such as Belgium and Germany tend to increase sharply. In September, tuna exports to Belgium increased by 199%, to Germany increased by 48% over the same period last year.

As of the end of September, Vietnam's exports of tuna products continued to increase over the same period, except for fresh, frozen and dried tuna with HS code 03 (excluding frozen tuna meat/loin). Although the growth rate has slowed down compared to previous months, Vietnam's exports of frozen tuna meat/loin code HS0304 are still high. In the first 9 months of the year, the export value of this product group increased by 99% over the same period. Exports of canned tuna increased by 6% and other processed tuna increased by 18%.

Among exporters, Dragon Waves, Bidifisco and Havuco are the 3 largest tuna exporting companies, accounting for 25% of the country's total tuna export turnover in the first 9 months of 2022.

Kylie Nguyen