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Source: Socialist Republic of Vietnam

This staggering increase transformed Italy into Vietnam’s largest tuna market in the EU in the first nine months of this year.

The figures were announced by the Vietnam Association of Seafood Exporters and Producers (VASEP) last week.

Canned tuna was still the only export product group to post growth over the same period, up 22%. Meanwhile, Vietnam’s exports of fresh and frozen tuna decreased by 30%.

Vietnam’s tuna exports to the EU market had high growth last month, a year-on-year increase of 51%, after two months the EU-Vietnam Free Trade Agreement (EVFTA) took effect.

The EU’s abolition of tax on fresh and frozen tuna products right after the agreement came into effect has made these Vietnamese products more attractive for EU countries.

Besides, Vietnamese processed and canned tuna products are also attractive to this market. This showed the door to the EU market was opening wider for Vietnamese tuna businesses, said VASEP.

The country’s tuna exports to the US showed signs of recovery in the last two months after a period of decline due to the impact of the COVID-19 pandemic.

Tuna export value of Vietnam to the US reached more than US$25 million last month, up 2% over the same period last year.

The market for canned tuna in the US, after a long period of gloom, has shown good growth due to its familiarity with most consumers and the disruption of beef, pork and poultry supplies due to the pandemic.

Therefore, the US’s tuna imports are increasing compared to the same period last year.

In addition to the US and EU markets, Vietnam’s tuna exports to Japan and Canada also grew last month.

After three consecutive months of decline, tuna exports to Japan have increased again. Meanwhile, Canada is a bright spot market for Vietnam this year, with continuous three-digit growth in recent months.

MIL OSI Asia Pacific News