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Friday, February 3, 2023

Tuna fish export revenue hits US$1b for first time

The Saigon Times

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HCMC – Tuna fish export revenue had reached US$1 billion in the year to December 21, expectedly further rising to US$1.03 billion by the year’s end, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Among the tuna export items in the first 11 months this year, frozen tuna, the main tuna product, generated US$631 million, a 72% year-on-year rise.

Meanwhile, canned tuna brought in US$157 million and other processed tuna products reaped US$161 million, respectively, up 3% and 23% in value over 2021, according to VASEP.

The U.S., Canada, and Japan are Vietnam’s top three tuna buyers. In 11 months, while Vietnam tuna shipments to the U.S. market brought in US$461 million, up 56% in value over last year, shipments to Canada and Japan reaped US$48 million and US$38 million, up 75% and 58%, respectively.

VASEP stated that the current tuna exports are posing a concern as runaway inflation is eroding purchasing power in big markets such as the U.S., Belgium, Israel and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

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