In January 2023, Japan was one of the few tuna import markets of Vietnam that maintained a good growth rate. Vietnam’s tuna export value to this market reached nearly 2.3 million USD, up 38% over the same period in 2022.
The decrease in catch of the domestic fleet is causing Japan to increase imports of fresh and frozen tuna from other countries, including Vietnam. Moreover, in the first period of 2023, the tariff preferences under the agreement that Japan offers to Vietnam in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are restarting, which is creating advantages for Vietnamese tuna products.
This year, Japan increased imports of fresh, frozen and dried tuna products from Vietnam while decreasing imports of processed and canned tuna products. Vietnam’s export value of tuna meat/loin products accounts for the highest proportion of 52% of the total tuna export value to this market. Over the same period, exports of this product group increased by 162%. Vietnam exports mainly frozen yellowfin tuna to the Japanese market.
The average C&F export price of frozen yellowfin tuna loins from Vietnam to Japan in January 2023 was at $7,699/ton, while the CFR price was at $7,994/ton.
Among the companies participating in exporting to the Japanese market, An Hai Fishery, FoodTech and Mariso Viet Nam are taking the lead in January, accounting for over 68% of the total export value.