Tuna exports to UK triple
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Tuna exports to the U.K. tripled year-on-year in the first two months even as shipments to some main markets like the U.S. and E.U. plunged.
Exports to the U.K. were worth US$1.3 million, enabled by a 13-fold rise in February, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam now ranks 13th out of 45 countries and territories that export tuna to that country.
Last year its exports to the U.K. rose by 10%.
Other markets to which Vietnam’s tuna exports grew by 32-99% in the first two months were Japan, Thailand, Germany, and Israel.
They made up the country’s top five markets in the first two months along with the U.K.
Vietnam’s total exports, however, dropped 30% year-on-year to $109 million in the period.
The U.S. and the E.U. each posted a 50% decline, which VASEP attributed to rising inflation and a change in consumers’ shopping habit.
The fact that Vietnam still has a yellow card given by the E.U. for illegal, unreported and unregulated fishing also pose challenges to exports, VASEP added.
The association expects global demand for tuna to recover in the second half of this year.
Vietnam has nine tuna species across its seas, with an estimated reserve of 600,000 tons. The three biggest tuna fishing localities are Binh Dinh, Phu Yen, and Khanh Hoa.
Questions & Answers
Q.What specific factors led to the significant increase in tuna exports to the UK?
What specific factors led to the significant increase in tuna exports to the UK?
The article does not specify the exact reasons for the triple increase in tuna exports to the UK. It only notes that the rise was enabled by a 13-fold increase in February, according to VASEP.
Q.Which other markets experienced growth in Vietnamese tuna exports during the first two months, apart from the UK?
Which other markets experienced growth in Vietnamese tuna exports during the first two months, apart from the UK?
Besides the UK, Vietnam's tuna exports also grew to Japan, Thailand, Germany, and Israel by 32-99% in the first two months. These markets, along with the UK, constituted Vietnam's top five.
Q.What were the main reasons cited for the overall decline in Vietnam's total tuna exports and the drop to the US and EU?
What were the main reasons cited for the overall decline in Vietnam's total tuna exports and the drop to the US and EU?
VASEP attributed the decline in total exports, and the 50% drop to the US and EU, to rising inflation and a change in consumers' shopping habits. The EU's yellow card for illegal fishing also poses challenges.
Q.When is global demand for tuna expected to improve, according to industry forecasts?
When is global demand for tuna expected to improve, according to industry forecasts?
The Vietnam Association of Seafood Exporters and Producers (VASEP) anticipates that global demand for tuna will begin to recover during the second half of the current year.
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