Tuna exports to the US increase again

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Processing tuna for export. Photo: T.H

Specifically, the tuna export value of Vietnam to the US in August and September increased by 5.2% and 1.6%, respectively. Therefore, the total export value of this item in the first nine months of the year to the US was only US$208 million, down 13.8% over the same period in 2019.

By the end of September 2020, Vietnam's exports of fresh, frozen and dried tuna to this market continued to decline, down nearly 39% over the same period in 2019. Meanwhile, tuna exports processing and canning increased by nearly 29%. This growth increased the total export value of processed and canned tuna from Vietnam to the US from 36.8% to 55%.

By the end of September 2020, the group of frozen tuna fillets and tuna meat, code HS0304, remained the main export products of Vietnam to the US market. However, this year the export value of this item is decreasing compared to the same period in 2019.Currently, the proportion of the item has decreased to 44% of the total value of Vietnam's tuna exports to the US market in the first nine months of the 2020.

In contrast, Vietnam's canned tuna exports to the US market are on the rise. Canned tuna products of Vietnam exported to the US market are mainly canned skipjack tuna meat of all kinds. Compared to the previous quarter, the proportion of canned tuna exports of Vietnam is increasing, and now this product group accounts for nearly 36% of the total export value of tuna to this market. Along with canned tuna, other Vietnamese processed tuna products exported to the US market are also increasing.

Currently, because US businesses are rebuilding warehouses that were depleted during the COVID-19 pandemic, US food and raw materials imports also increased sharply. Along with this trend, imports of processed tuna, such as frozen steamed tuna meat - raw materials for canned tuna production, and canned tuna into the US are also increasing year-on-year.

Although there is still growth in canned tuna exports to this market, Vietnam's tuna products face difficulties in competing with similar products from Indonesia and Mexico, due to higher prices. While the prices of canned tuna products from Indonesia and Mexico tend to decrease, the prices of Vietnamese products tend to increase.