Vietnam tuna exports to EU to be up 35%

As of the first half of November 2017, Vietnam’s tuna exports to the EU reached US$123.2 million, up 31.8% over the same period last year. Exports to Germany and the recorded the good growth of 37.5% and 52.7%, respectively over the same period last year.

Vietnam’s shipments of frozen tuna loins/fillets to the EU took the main share, followed by canned tuna. Notably, Vietnam recently boosted exports of fresh/live/frozen tuna to the market, while reducing those of processed tuna compared with the same period last year.

According to ITC, tuna imports into the EU countries in the first 8 months of 2017 hit over US$3.25 billion, up 20.7% over the same period in 2016.

In the first half of 2017, Spain, Italy and France were top three largest buyers in the EU.

In the first 8 months of 2017, imports of canned tuna (HS code 160414) accounted for the largest share of 72.4-83% in tuna imports into the EU. The average import price of processed tuna in some large markets such as Spain, Germany and the UK increased over 2015 and 2016. Currently, Vietnam tuna also had to compete strongly to gain market share in Germany.

By the end of 2017, Vietnam’s tuna exports to the EU forecasted to continue the good growth with the rise of 35% in value compared to 2016.