Tuna exports jump by 56 percent in H1
In this article (5)
Tuna exports in the first six months were worth US$553 million, a 56 percent rise year-on-year, according to data from the Vietnam Association of Seafood Exporters and Producers.
Exports to the U.S. all but doubled thanks to higher demand, especially for canned tuna.
Exports to members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also rose sharply, especially to Canada (up 68 percent), Japan (up 26 percent) and Mexico (up 30 percent).
The EU market grew the slowest at 7 percent.
The association expected high growth for tuna export in the second half of the year, with export rising 45 percent from 2021 to $1.1 billion.
It warned rising fuel prices, which have kept fishing boats on shore, would affect supply.
Questions & Answers
Q.What was the total value of tuna exports in the first half of the year?
What was the total value of tuna exports in the first half of the year?
Tuna exports in the first six months of the year were valued at US$553 million. This figure represents a significant 56 percent increase compared to the same period in the previous year.
Q.Which market showed the highest growth for tuna exports in the first half?
Which market showed the highest growth for tuna exports in the first half?
Exports to the U.S. Market nearly doubled during the first half of the year, making it the strongest performer. This surge was primarily driven by increased demand, particularly for canned tuna products.
Q.What potential challenges might affect tuna supply later in the year?
What potential challenges might affect tuna supply later in the year?
The association warned that rising fuel prices could impact tuna supply. High fuel costs have led to fishing boats remaining on shore, which may subsequently reduce the amount of tuna available for export.
Q.Which CPTPP member countries saw significant increases in tuna exports?
Which CPTPP member countries saw significant increases in tuna exports?
Among CPTPP members, exports to Canada rose by 68 percent, Japan by 26 percent, and Mexico by 30 percent. These figures contributed to a sharp overall increase in exports to the agreement's member countries.