According to the Vietnam Association of Seafood Exporter and Producers (VASEP), tuna exports in the last months of the year will show signs of strong growth due to decreasing invetories in major export markets. 

VASEP said the stockpiled quantity of tuna in the U.S., one of the main markets of Vietnam, has begun to decrease and importers were considering speeding up imports. By the end of the year, major markets such as the U.S. will have many festivals, so consumer demand will increase.

Over the past seven months of this year, Vietnam's tuna exports reached nearly 445.6million, down 31% compared to 2022, VASEP said. Some markets such as the EU, Mexico, Israel, and Thailand have higher growth compared to the same period last year. 

According to Nguyen Ha, tuna market expert of VASEP, in the context that exports to the main traditional markets had all declined, Israel had emerged as a potential market. Especially, the Vietnam-Israel FTA (VIFTA), signed on July 25, would open up opportunities for Vietnam's seafood exports, including tuna, to access the Israel market and lucrative Middle East region, Ha said.

This is a good sign for tuna export businesses, but it is also a challenge when exporting to a new market. Tuna exporter  need to ensure product quality, carefully study market information, promote credibility and be responsible.

Source: VASEP

              VNexpress