Vietnam’s tuna exports to Peru double

After reaching a peak in 2022, Vietnam’s tuna exports to Peru continue to grow strongly in the first months of 2023. Peru is currently a major tuna import market of Vietnam, ranks 13th in the top largest tuna importer.

According to statistics of Vietnam Customs, Vietnam’s tuna exports in 2022 reached $6.4 million, up 139% compared to 2021, the highest level in the past 10 years. This growth trend continues in the first months of 2023, the export value in the first 2 months of the year reached more than 2.2 million USD, up 123% over the same period in 2022. Vietnam is exporting mainly processed and canned tuna products to this market.

In 2022, La Nina,  a weather pattern that occurs in the Pacific Ocean. In this pattern, strong winds blow warm water at the ocean’s surface from South America to Indonesia. As the warm water moves west, cold water from the deep rises to the surface near the coast of South America. This phenomenon negatively affects Peru’s tuna industry, causing tuna catch to decrease and costs to increase significantly. In addition, political instability in Peru has hindered the growth of the country’s fishing industry. Therefore, Peru is also increasing the import of tuna from other countries, including Vietnam.

In the Peruvian market, Vietnam from the 5th largest tuna supplier in 2021 has surpassed China to become the 4th largest supplier.