Surge in tuna exports to Italy

Vietnam’s tuna exports to Italy have experienced a remarkable surge since earlier this year, consistently growing at triple-digit rates. In May alone, tuna exports to Italy soared by 224% compared to the same period in 2023, exceeding USD 4 million. For the first five months of 2024, the total exports to Italy nearly reached USD 15 million, tripling from the same period in 2023.

According to statistics from Vietnamese Customs, while fresh, frozen, and dried tuna (excluding frozen tuna fillet/loin under HS code 03034) were not exported to Italy last year, these products now account for 64% of the total export value to this market. Canned tuna follows closely. Exports of both categories have increased year-on-year.

Contrary to the rising trend from Vietnam, tuna imports into Italy from other countries have been on a decline, falling by 19% in the first quarter of 2024.

Source: Vasep

Eurostat statistics reveal that Vietnam has become the largest non-EU supplier of fresh, frozen, and dried tuna to Italy, outpacing the Philippines and Indonesia. In the canned tuna segment, Vietnam is the seventh-largest supplier to Italy, following Indonesia, Ecuador, China, Solomon Islands, Colombia, and Seychelles.

Currently, around eight companies are involved in exporting to this market. Among them, Yueh Chyang Canned Food and Mariso Vietnam are the leading exporters, accounting for 86% of the total export turnover.

According to industry sources, the tariff benefits provided by the EU-Vietnam Free Trade Agreement (EVFTA) are significantly boosting the appeal of Vietnamese tuna products in the Italian market. If the challenges related to raw materials can be addressed, Vietnamese enterprises will have even greater opportunities to increase exports to Italy.

(Source: https://vietfishmagazine.com/)