Vietnam’s tuna exports to EU skyrocket

Shipments of Vietnamese tuna products to the European Union (EU) surged 96 percent year on year in January 2024 to reach over US$17 million, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

Of these, fresh, frozen, and dried tuna exports soared 317 times.

A VASEP leader attributed the positive results to tax incentives from the EU-Vietnam Free Trade Agreement.

Military conflicts have raised the demand for non-perishable food products, such as canned tuna.

Nevertheless, some tuna exporters voiced concerns over obstacles caused by the Red Sea conflict.

Nguyen Thu, the owner of a company specializing in purchasing and exporting tuna from Binh Dinh Province in south-central Vietnam, noted a significant rise in shipping costs, leading to higher product prices and dampening import demand.

The European Commission’s ‘yellow card’ on Vietnamese seafood has yet to be lifted, exerting an impact on the export of tuna.

Vietnam currently exports the fish to 21 EU markets.

Italy is the largest buyer of Vietnam’s fresh and frozen tuna.

In January 2024, Vietnam’s tuna exports to Italy skyrocketed 364 percent over the same period last year.

(Source: https://tuoitrenews.vn/)