Canned tuna exports to EU market edge up by 71%
Vietnam’s tuna exports to the European Union made significant breakthroughs during the opening five months of the year, with canned tuna products witnessing a sharp increase of 71% year on year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Most notably, tuna exports to the EU bounced back in May after enduring a decline in April, up 15% compared to the same period from last year.
Germany and the Netherlands were the two largest consumers of Vietnamese tuna throughout the reviewed period with respective increases of 23% and 26%.
Until the end of May, more than 31 enterprises had bene involved in exporting tuna to the EU market. Among them, FoodTech, Bidifisco, and Yueh Chyang Canned Food made up the three leading exporters that accounted for more than 40% of total tuna export turnover.
According to VASEP, due to the impact of inflation, high inventories, and rising prices of canned tuna, EU importers tend to increase their imports from nations with preferential tariffs, including Vietnam.
Truong Dinh Hoe, general secretary of VASEP, predicted that seafood exports, especially tuna exports to the EU market, would gradually recover ahead over the coming months thanks to rising demand during the festive season, along with other positive signs in the consumption markets.
Hoe noted the rebound in seafood consumption in May was a good signal for a general hike in aquatic exports during the year-end period.
Apart from these advantages, the VASEP leader advised enterprises to devise a proper marketing strategy in a bid to further boost aquatic exports to the EU market amid the global price of skipjack tuna not cooling down, along with making use of the preferential tariff quota that the EU has granted for Vietnamese canned tuna products under the Vietnam-EU Free Trade Agreement (EVFTA).
