Tuna export revenue forecast to grow on better catch

Last year Vietnam fetched US$500 million worth of tuna export, a rise of 9% after three consecutive years of decline.Fishermen of Binh Dinh Province are seen unloading tuna from a boat at Quy Nhon fishing port. The volume of tuna caught in three central coastal provinces in the January-February period of 2017 rose by 20% year-on-year to 3,540 tons - PHOTO: TTXVN

HCMC - The volume of tuna caught in three central coastal provinces in the January-February period of 2017 rose by 20% year-on-year to 3,540 tons, meaning that local enterprises this year will have abundant tuna supply for export sale.

According to a report of the Ministry of Agriculture and Rural Development, the three central provinces that are strong in tuna fishing are Binh Dinh, Phu Yen and Khanh Hoa. Thanks to higher volumes, the export value of Vietnamese tuna this year is expected to pick up substantially against 2016 when many local enterprises could not secure sufficient material for export processing.

Phu Yen in the first two months harvested only 432 tons, down 27% year-on-year, but the other two provinces enjoyed bumper catches, with Binh Dinh netting 2,276 tons, up 22% year-on-year, and Khanh Hoa obtaining 832 tons, surging 68%.

According to the Vietnam Association of Seafood Exporters and Producers ( VASEP), Vietnam’s exports of tuna frozen fillets to the European Union (EU) last year took a market share of 12%. The country’s tuna exports last year could have been much higher, but due to the falling fishing volume, local enterprises were forced to import materials from neighboring countries and boost export prices, resulting in its lower competitiveness in the European market.

The European Commission has recently proposed the Inter-American Tropical Tuna Commission (IATTC) impose restrictions on tuna fishing boat fleets and fishing activity in its member countries, paving the way for Vietnam’s tuna shipments to the EU to rise in the coming time