Vietnamese tuna exports surged in Q1/2024

Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.

In March alone, Vietnamese tuna exports soared by 17% to reach nearly US$84 million compared to the same period from last year. The United States remains the country’s largest export market with turnover reaching more than US$32 million, up 16% on-year.

Along with the US, export orders to the EU rebounded in March, increasing by 30% to US$19 million.

Furthermore, tuna exports to Israel and Canada also continued to witness rises of 95% and 143% on-year, respectively.

After a period of instability, Vietnamese tuna exports to the Russian market have also bounced back since the end of 2023, edging up by 4% in turnover in March.

Meanwhile, tuna exports to other major markets in March such as Japan, Mexico, Chile, and Thailand all experienced a downward trajectory of 18%, 38%, 34%, and 78%, respectively.

According to industry insiders, Vietnamese tuna export businesses are anticipated to face a number of challenges this year due to tension in the Red Sea, which has led to increases in logistic costs and shipping time.

In addition, local firms have also encountered difficulties in obtaining the certification of raw materials (S/C), which lasts for months, causing a major impact on their production activities.

(Source: https://seafood.vasep.com.vn/)