Italy doubled imports, earning more than 200 million USD since the beginning of the year

Vietnam’s tuna export industry is witnessing impressive growth in the first quarter of 2024. According to preliminary statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), fish export turnover Tuna in the first 3 months of the year reached 215 million USD, up 19% over the same period in 2023. In March alone, tuna exports reached nearly 84 million USD, up 17% over the previous month.

This growth is driven by increased demand from key markets such as the US, EU, Israel and Canada. The US continues to be the largest market for Vietnamese tuna with more than 32 million USD, an increase of 12%. Meanwhile, exports to European countries also grew again, reaching a turnover of 19 million USD, an increase of 30%. Notably, exports to Russia have begun to recover after a period of instability, with an increase of 65% in the first quarter.

Exported tuna products also recorded strong growth. Fresh, frozen and dried tuna increased by 195%, frozen tuna meat/loin increased by 2%, and canned tuna increased by 49% compared to the same period last year. This shows product diversification and growing demand for Vietnamese tuna products in the international market.

However, Vietnam’s tuna industry is also facing some challenges. Tuna fishing output in the first 3 months of 2024 in 3 key provinces is estimated to reach 5,392 tons, down slightly by 0.8% over the same period last year. This may affect the supply of raw materials for processing and export.

Besides its economic value, tuna is also known as a “super food” with many health benefits. Tuna has the ability to reduce cardiovascular disorders, lower blood pressure and cholesterol, strengthen the immune system, prevent cancer and many other benefits. This contributes to boosting the demand for tuna consumption globally.

Despite achieving impressive results in the first quarter, VASEP expects that this year’s tuna exports will hardly reach the 1 billion USD mark like in 2022 due to the difficulties the industry is facing. However, with the efforts of businesses and the support of the government, Vietnam’s tuna industry still has the potential to grow in the future.