Tuna exports to Italy soars

	The market is in recession, tuna export businesses are facing significant challenges
	Tuna exports declined deeply

Tuna are processed for export. Photo: T.H

According to Ms. Nguyen Ha, tuna market expert of the Vietnam Association of Seafood Exporters and Producers (VASEP), although Italy is not in the top 3 largest tuna importers of Vietnam in the first half of the year, the tuna exports to this country saw a 12-fold increase in June.

Statistics of the General Department of Vietnam Customs show that after a decline in tuna export in January, Vietnam's tuna exports to Italy continuously saw 3-digit growth in the following months. Therefore, the export turnover of tuna to this market soared 37% year-on-year to US$5.8 million.

This year, the canned tuna import turnover of Italy accounted for 50% of tuna export to this country. The export turnover of this product to Italy increased 5 times compared with the same period in 2022. In addition to canned tuna, Vietnam's exports of frozen tuna meat and fillet HS code 0304 to this market also surged 71% year-on-year.

Meanwhile, Italy's tuna imports from other countries this year are only equivalent to the same period the previous year. Vietnam is the 12th largest tuna exporter of this market among over 33 exporters. Currently, Indonesia and Ecuador are leading in tuna exports to Italy.

According to businesses, the tax incentive under the EU-Vietnam Free Trade Agreement (EVFTA) attracts Italian importers for Vietnam’s tuna products, especially in the context of the current high price of raw tuna.

However, in the second half of the year when the preferential tariff quotas are used up, the tuna exports to this country may be slow down. In addition, if the inspection results of the EU’s fight against illegal, unreported and unregulated fishing (IUU) program in October do not meet the expectation of removing the yellow card, Vietnam's tuna exports to the EU, including Italy will be affected.

According to statistics of Vietnam Customs, there are not many businesses participating in exporting tuna to the Italian market. By the end of June, only about 10 enterprises exporting tuna to this market in the whole country such as Yueh Chyang Canned Food, Thanh Dung Canning Co., Ltd and Nha Trang Bay...