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Tuna exports to Portugal increased by 135%

05/05/2022

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the export value of tuna to the Portuguese market has reached USD 1.1 million in the first three months of 2022, a strong increase of 135% over the same period in 2021.

Regarding products, Vietnam's tuna enterprises mainly export frozen tuna with HS code 0304 to this market. The average export price of these products of Vietnam is at USD 6,537/ton.

Explaining the sharp increase in seafood exports in general and tuna in particular, Mr. Truong Dinh Hoe - General Secretary of VASEP said, because businesses focus on fulfilling orders of old contract orders signed in 2021, and there are also new contracts in 2022. In addition, in the post Covid-19 pandemic period, market demand has also increased rapidly.

According to statistics of the World Trade Center, Portugal is currently the 6th largest tuna import market in the EU. In 2021, Portugal imports tuna from 35 countries around the world. In which, Vietnam is the 8th largest source of tuna outside the bloc to this market after Ecuador, China, Papua New Guinea, Mauritius, Indonesia, Ghana and the Philippines.

During the three years of the pandemic, Portugal's tuna imports continued to maintain good growth. Tuna import volume of this market has increased from 45 thousand tons in 2019 to 53 thousand tons in 2021.

According to VASEP, in 2021, the average price of Vietnam's tuna exports to Portugal tended to increase, so that although the export volume to this market decreased, the export value still increased. With the main export product of frozen tuna meat/loin, code HS0304, these products of Vietnam are having the highest prices among the suppliers.

Entering 2022, tariff preferences for Vietnamese tuna products under the EVFTA Agreement are creating momentum for Vietnamese tuna exporters to the Portuguese market. Besides, the reopening of European countries to tourists is expected to increase the demand for high-value tuna products in these countries. Therefore, the import demand of European countries including Portugal is currently increasing. And this will be an opportunity for Vietnamese tuna businesses to boost exports in the coming months.

“We believe that, in the second quarter of 2022, exports will continue to grow because the market's demand is still increasing and Vietnam's products are suitable for post-pandemic market requirements, especially with restaurant and hotel systems”- Mr. Hoe forecast.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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