Tuna exports soar
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Vietnam exported $74 million worth of tuna in April, a 50 percent year-on-year surge, with the U.S. and E.U. buying more.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), tuna exports to the U.S. saw the highest growth with a 56 percent year-on-year surge in April.
The association also reported a change in the export structure with the export of fresh and frozen tuna to the U.S. rising in April, while that of canned products decreased. Exports to the E.U. and members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP) trade pact also saw increases of 31 percent and 42 percent in April, respectively.
The association said tuna exports to these major markets will continue to rise because preferential tariffs under free trade agreements are attracting foreign importers.
Vietnam has exported $226 million worth of tuna by the end of April this year, up 15 percent year-on-year, even as the number of importing markets reduced to 63 from 90 last year.
Questions & Answers
Q.Which specific markets were responsible for the significant increase in April's tuna exports?
Which specific markets were responsible for the significant increase in April's tuna exports?
The U.S. And the E.U. Were the main drivers of the surge in April, with exports to the U.S. Rising by 56 percent and to the E.U. By 31 percent year-on-year.
Q.How has the composition of tuna exports to the U.S. Changed recently?
How has the composition of tuna exports to the U.S. Changed recently?
There has been a shift in the export structure to the U.S. The export of fresh and frozen tuna increased in April, while the volume of canned products sent to the U.S. Market declined during the same period.
Q.What is the total value of tuna exports from Vietnam for the year to date?
What is the total value of tuna exports from Vietnam for the year to date?
Vietnam's tuna exports reached a total value of $226 million by the end of April this year. This represents a 15 percent increase compared to the same period last year.
Q.What is the reason given for the expected continued growth in tuna exports to key markets?
What is the reason given for the expected continued growth in tuna exports to key markets?
The association expects continued growth because preferential tariffs, available under free trade agreements, are proving effective in attracting foreign importers to Vietnamese tuna products.
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