Tuna exports in 2024 may slowly restore

Tuna are processed for export.

Tuna exports to many markets plunges

According to Ms. Nguyen Ha, tuna market expert of the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s exports to markets increased compared with the same period last year such as the EU, Russia, Chile or the Philippines... While exports to the US, Canada, Japan or Israel... decreased.

The US is Vietnam's largest tuna import market. After continuous growth in October and November, it decreased slightly in December. Tuna exports to this market dropped 1% to US$25 million in this month. For the whole year 2023, tuna exports to the US fell 33% to US$326 million.

Israsel is Vietnam’s second largest tuna import market. The imports to the market reduced by 6% in December. However, due to good growth in previous months, exports to this market in 2023 reached over US$ to 50 million, up 37%.

Similarly, tuna exports to Canada and Japan also dropped 12% and 8% in December, respectively.

Contrary to the export trend to the markets, exports to the EU in December rose 25%. However, for the whole year 2023, exports to this market increased slightly by 6% year-on-year. Italy is still a bright spot market with the strong growth of 361% year-on-year.

After a period of instability, Tuna exports to Russia continuously increased in the remaining months of 2023. In December alone, tuna exports to Russia grew 96% year-on-year. For the whole year 2023, exports to this market rose 18% to about US$29 million compared to the previous year.

Many difficulties in 2024

According to businesses, 2024 will face many difficulties, especially the European Commission (EC) maintaining a Yellow Card warning against Vietnam's seafood products. In addition, the price of raw tuna on the world market has declined, but tensions in the Red Sea have caused transport costs to increase, making the price of finished tuna products still high.

The inflation in major countries has been contained, the world economy has bottomed out but has restored slowly, so the demand for tuna imports in many countries has not shown signs of recovery. Competition in markets is increasingly fierce and inventory levels of processing and export enterprises are high. All of these factors will hinder the recovery of Vietnam's tuna exports.

In addition to market difficulties, businesses also suffer from many difficulties due to obstacles in Vietnam's current food safety control regulations.

According to the “Program for controlling food safety of aquatic products and aquatic products exported to the EU market" issued in Decision 5523 dated December 21, 2023 of the Ministry of Agriculture and Rural Development- related to requirements of Health Certificate (H/C) issued by competent authorities of foreign countries (under form No. “28” of the EC) attached to shipments of imported raw materials, including fish consignments (fishes are transshipped on freezer vessel) that are not processed, packaged or preserved on land.

These freezer vessels carry raw materials from the sea to deliver to Vietnamese businesses. Therefore, the it is impossible to be issued a H/C by any authority. Vietnamese tuna businesses face many difficulties and shortcomings when implementing this regulation. Vietnam's tuna export industry may be narrowed and face competition for market share in the EU as well as the supply of tuna raw materials when Vietnamese businesses are limit ed in many good sources of tuna raw materials.

According to EU regulations, when raw materials on freezer vessels are transferred to the EU member countries, EU authorities do not require the H/C issued by competent authorities, but only require H/C signed by the captain.

To create favorable conditions for tuna exporters, VASEP requests specialized management agencies to remove this obstacle for businesses.