Tuna exports increase spectacularly

Tuna exports increased by nearly 50% in April 2021, exporters of this item are trying to overcome difficulties to achieve spectacular results.

Turnover increased by nearly 50%

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), in April 2021, Vietnam's tuna exports continued to grow with the export value of tuna reaching more than US$74 million, an increase of nearly 50% over the same period in 2020, bringing the total export value in the first four months to nearly US$226 million, up 15% over the same period last year.

Since the beginning of the year, tuna exporters have encountered many difficulties due to the rapid increase of production costs at the beginning of the year, lack of containers, and escalation of sea freight to major markets, but enterprises have made efforts to overcome difficulties, cut costs, and ensure export production.

By the end of April 2021, exports of all four groups of tuna products of Vietnamese enterprises increased compared to the same period in 2020.

Notably, after a decline in the first three months, at the end of April, two groups of export products, which are frozen tuna meat/loin (the loin along the back of a tuna) with code HS0304 and other processed tuna with code HS16 (mainly frozen steamed tuna loin) increased again, 17% and 24% respectively over the same period last year.

After a period of disruption in production and export activities due to the impact of the Covid-19 pandemic, Vietnam's tuna enterprises have begun to adapt.

Compared to the previous year, the top ten tuna exporters in Vietnam are still familiar faces, but the position has changed.

In the first four months of this year, the total export value of the top ten enterprises accounted for more than 58% of the total tuna export value of the country. Leading are three companies: Mariso Vietnam, Dragon Wave and Bidifisco. The sales of the three companies all saw high growth over the same period last year.

Steady growth in major markets

Exports to major markets have mostly increased. According to Vietnam Customs statistics, Vietnam's tuna products have been exported to 63 markets in the first four months of 2021. Compared to the same period last year, the size of Vietnam's tuna export market is much smaller, less than 27 markets.

But with the above growth results, it can be seen that although the market size is narrowed, but with efforts to adapt and rise strongly, Vietnam's tuna enterprises have boosted exports in the first four months of 2021. Compared to the first three months of the year, the by the end of April, exports to main markets had accelerated. Growth rates in major markets such as the US, EU, CPTPP, Israel, were all higher than in March.

According to Ms. Nguyen Ha, tuna market expert of VASEP, the pandemic is gradually being controlled, and the food service industry is gradually reopening. This has changed the structure of imported tuna products into markets compared to 2020. In the US market, Vietnam's tuna exports increased by 56% over the same period last year, higher than that of March.

The structure of Vietnam's tuna export products to this market is changing. Export growth of processed and canned tuna products slowed down, while fresh and frozen tuna exports increased over the same period last year.

Along with the US, Vietnam's tuna exports to two major market blocs, the EU and CPTPP, also continued to grow in April. The growth rate of exports to the EU and CPTPP increased from 31% and 41%, respectively in March to 37% and 47% in April. Export structure of exported tuna products also shifted to a stronger increase in fresh and frozen tuna products.

According to experts, in the current difficult export context, tariff preferences through agreements are attracting the attention of importers and creating favourable conditions for enterprises to promote exports.

Source: Custom News