Vietnam’s tuna exports expected to grow by 20% for first half of 2024


Vietnam became the world’s fifth-largest exporter of tuna in 2023 behind Thailand, Ecuador, Spain and China, rising from eighth place 10 years prior. — Bloomberg

HO CHI MINH CITY: Tuna exports are projected to reach US$456.8mil in the first half of the year, a year-on-year increase of 20%, according to the Vietnam Association of Seafood Exporters and Producers.

After decreasing in 2023, exports rose by 22% in the first five months of the year to US$388mil.

Shipments of canned tuna products, bagged tuna and frozen loin/fillet increased by 44%, 24% and 7%, respectively. Exports of frozen whole tuna nearly tripled.

Exports to most markets increased, with those to the United States and European Union, the two largest, rising by 30% and 37% and accounting for 37% and 22% of total exports, respectively.

Exports to Israel, Russia and South Korea rose by 64%, 58% and 66%, respectively.

Speaking at the association’s annual general conference in Ho Chi Minh City on June 10, Cao Thi Kim Lan, director of the Binh Dinh Fisheries Joint Stock Co, said in 2023 Vietnam became the world’s fifth-largest exporter of tuna behind Thailand, Ecuador, Spain, and China, rising from eighth place 10 years ago.

She said a notable milestone was achieved in 2022 when exports of the fish topped US$1bil.

Speaking about the potential of the tuna industry, she said: “We have high-tech tuna processing factories, experienced and skilled labourers and reputable products that are exported to nearly 100 markets.

“With more than 30 years of experience, I believe the Vietnamese tuna industry can grow further if we make efforts to overcome internal challenges and resolve difficulties faced by the industry with support from the government.”

She said exports could reach US$1bil again this year if raw-material shortages are resolved.

She pointed out that more than 50% of the country’s exports are processed from imported tuna.

Firms have difficulty obtaining “statements of catch” for raw material at fishing ports, according to Lan. The statements are issued by relevant authorities to verify raw materials from fishing do not violate regulations on illegal and unreported catches.

She listed a number of reasons why they were unable to get the statements, including issues related to safety conditions and fishing in prohibited waters.

Another issue is that a number of fishing vessels have installed the VNPT electronic monitoring system but regularly encounter technical errors, causing a disconnect between the vessels and the system monitoring fishing activities for six hours or more and sometimes even for two or three days.

Buyers would not know these issues when they purchase the fish, she said.

She said local governments and other agencies needed to strictly implement checks for hygiene and food safety conditions on fishing vessels and fishing ports in line with government regulations.

She said the Agriculture and Rural Development Ministry should consider amending regulations so that the certificates of raw materials could be issued immediately when loading and unloading is completed from fishing vessels under the supervision of port staff.

“In cases where fishing vessels lose connection due to technical faults in communications, the ministry needs to provide guidance on issuing the certificates to businesses,” she said. — Viet Nam News/ANN

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

AZRB founder Tan Sri Wan Zaki dies
Sabah's Life Water rises 18.46% on Main Market debut
Ringgit opens marginally higher against US$ ahead of upcoming inflation data
Bursa Malaysia remains on a slide as US rally takes breather
Trading ideas: Maybank, Capital A, Sapura Energy, Paragon, Atlan, Fajarbaru, Tiong Nam, T7, Carimin, Jati Tinggi, MCE, Heineken
Oil ends lower after Opec cuts demand view
Mida identifies 12 Egyptian companies interested in investing in Malaysia - Tengku Zafrul
Sarawak’s infrastructure growth to boost KKB Engineering
Singapore project to lift Sunway’s 3Q24 earnings
Dexcom opens new RM2.8bil manufacturing facility in Penang

Others Also Read