Vietnam Becomes Largest Tuna Supplier to Israel
|Fishermen carry a tuna in central Khanh Hoa Province. Photo: VnExpress|
Latest data from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that Vietnam’s exports to Israel jumped by 34% during the year until August 15 to nearly $25 million.
Eight companies ship tuna fish to Israel, but have all complained about Covid-related restrictions hurting their production in recent months.
VASEP has repeatedly been petitioning the government to quickly vaccinate workers in the fisheries sector to ensure the supply chain is not disrupted, VnExpress reported.
According to statistics released by the International Trade Center (ITC), the first half of the year saw the country surpass Thailand to become the largest tuna supplier to Israel, accounting for roughly 31% of their overall import value.
Furthermore, Israel simultaneously reduced tuna imports from other countries, whilst also increasing imports from the Vietnamese market.
Despite a wealth of export opportunities for Vietnamese tuna to the market, the local tuna industry is projected to face numerous difficulties due to the fourth wave of the Covid-19 pandemic, with several enterprises reducing their processing
Tuna exports to EU surge thanks to EVFTA
|Processing ocean tuna for export. Photo: VNA|
Vietnam exported 15,870 tonnes of tuna worth $73.33 million to the European Union in the first half of 2021, up 39.3% and 31.6%, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT).
The tuna shipments accounted for about 15.1% of Vietnam’s total seafood export value to the EU.
In the second quarter of 2021, the country shipped 9,360 tonnes of tuna to this market, raking in $45.05 million, up 43.9% in volume and 59.3% in value from the previous quarter.
The surges were attributed to tariff reductions granted to Vietnam’s tuna products under the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020.
|Vietnam exported 15,870 tonnes of tuna worth $73.33 million to the European Union in the first half of 2021. Photo: thuongtruong.com.vn|
According to the MoIT, Vietnamese tuna was sold at $4.62 per kg on average to the EU in the first six months of the year, down 0.27% year on year. The global tuna prices have been declining on the back of weakening demand of canned tuna during the period.
Significant growth was seen in a number of EU markets, including Poland which recorded imports of Vietnamese tuna rocketing 989% in volume and 608.6% in value, and Bulgaria, 289% and 229%, respectively.
Data from the European Statistical Office (Eurostat) showed that Vietnam was the EU’s eighth largest provider of tuna outside the union in the first four months of 2021, making up a 4.9% share of the EU’s total tuna imports, compared to 4% in the same period last year.
The MoIT’s Agency of Foreign Trade also warned that Vietnam’s tuna shipments are likely to continue facing difficulties from the EU as a result of the Covid-19 resurgence and the “yellow card” warning on the illegal, unreported and unregulated (IUU) fishing imposed by the EC on Vietnam, VietnamPlus reported./.
Vietnam's tuna exports records a significant decline due to complication in developments effected by Covid-19 global pandemic, according to the Vietnam Association of Seafood Exporters ...
Vietnamese tuna exports to the EU, Japan, U.S have vigorously bounced back following a period of plummeting due to the impacts of the COVID-19 pandemic.
Vietnam’s tuna exports to the United States have enjoyed a sharp rebound following a period of enduring a constant decline.