Another gloomy year forecast for tuna exports
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Vietnam’s tuna exports declined by 9.8 percent in 2020 due to the impact of the Covid-19 pandemic, and are showing no signs of recovery.
Analysts point to two reasons for the continuing slump: the unpredictability surrounding the pandemic and intense competition from low-priced Chinese canned tuna in its largest market, the U.S.
Besides, consumers prefer tuna with the blue MSC label representing certification of the sustainable fishery by the Marine Stewardship Council.
Tuna exports were worth $649 million last year, according to the Vietnam Association of Seafood Exporters and Producers. Vietnam exports the fish to 108 markets.
Vietnam’s largest markets after the U.S. are the E.U., Canada, Southeast Asia, and Israel.
Questions & Answers
Q.What was the total value of Vietnam's tuna exports last year?
What was the total value of Vietnam's tuna exports last year?
Last year, Vietnam's tuna exports were valued at $649 million. This figure reflects the decline experienced in 2020 and the continued slump in the market, as reported by the Vietnam Association of Seafood Exporters and Producers.
Q.Why are tuna exports from Vietnam continuing to struggle?
Why are tuna exports from Vietnam continuing to struggle?
Exports are struggling due to two main factors. The ongoing uncertainty caused by the Covid-19 pandemic is one reason. Also, there is strong competition from cheaper Chinese canned tuna, particularly in the important U.S. Market.
Q.Which are Vietnam's largest export markets for tuna?
Which are Vietnam's largest export markets for tuna?
Vietnam exports tuna to 108 markets globally. Its largest markets include the U.S., followed by the E.U., Canada, countries within Southeast Asia, and Israel. These key markets are significant for the struggling export industry.
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