Tuna exports spike in April

Vietnam exported US$ 74 million worth of tuna in April, an increase of nearly 50 compared with the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Since the beginning of the year, local tuna exporters have encountered numerous challenges including a hike in production cost, a shortage of containers, and escalating maritime transportation costs. However, businesses have made strong efforts to overcome difficulties, cutting costs and ensuring there were enough products for exports, it said.

During the first four months of this year, the country’s tuna export revenue reached US$ 226 million, up 15 percent against last year’s figure.

By the end of April,  exports of all types of tuna soared compared with the same period. Notably, after experiencing a decline in the first three months of the years, exports of frozen tuna (code HS0304) and processed tuna (code HS16) bounced back, recording a rise of 17 percent and 24 percent, respectively.

Vietnamese tuna products have been shipped to 63 markets around the world, a decline of 27 markets compared to last year

However, the country recorded positive growth in tuna export from major markets including the United States, the European Union (EU), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP), and Israel.

Tuna exports to the US saw the highest growth with 56 percent year-on-year. 

 Exports to the EU and members of the CPTTP trade pact also expanded from 31 percent and 42 percent in March to 37 percent and 47 percent in April, respectively.

The VASEP also reported a change in the export structure with the export of fresh and frozen tuna surge to these markets rising in April.

The association forecast that Vietnam’s tuna exports to major markets would continue to rise in the coming time thanks to preferential tariffs buoyed by free trade agreements.