In 2023, Vietnam's tuna exports to Spain experienced a continuous decline. This downward trend persisted through the first two months of 2024. However, since March 2024, there has been a significant and sustained increase in Vietnam's tuna exports to Spain. According to statistics from Vietnam Customs, tuna exports to Spain in May 2024 surged by an impressive 182% compared to the same period in 2023, reaching nearly 1.8 million USD. This figure also surpassed the tuna export value to Spain in 2022. Cumulatively, in the first five months of 2024, tuna exports to Spain exceeded 5 million USD, marking a 32% increase over the same period the previous year.
Within the various tuna product groups, Spain imports the most frozen tuna meat and loin products with the HS code 0304 from Vietnam. It is particularly noteworthy that frozen steamed tuna loin products have also seen a rise in exports to Spain this year. Currently, ten companies are involved in exporting tuna to the Spanish market. Vietnamese tuna faces stiff competition from tuna exported by Ecuador, China, and the Philippines. These countries benefit significantly from their large exploitation fleets, which provide a substantial domestic raw material supply, putting them at an advantage over Vietnam.
Vietnamese tuna exporters have been working diligently to enhance their market presence in Spain. This involves not only improving the quality of the tuna products but also ensuring compliance with stringent international standards and regulations. Efforts to expand market share have included participation in international trade fairs, direct engagement with Spanish importers, and strategic marketing campaigns to highlight the quality and sustainability of Vietnamese tuna. The resilience and adaptability of Vietnamese exporters have played a crucial role in reversing the earlier decline and achieving robust growth in tuna exports to Spain.
Additionally, Vietnamese exporters have been focusing on developing strong relationships with Spanish importers and distributors. This strategy aims to secure long-term contracts and stable demand for Vietnamese tuna. By consistently delivering high-quality products and maintaining reliable supply chains, Vietnamese exporters have been able to build trust and credibility in the Spanish market. The increased demand for frozen steamed tuna loin products, in particular, reflects the success of these efforts.
Looking ahead, the outlook for Vietnam's tuna exports to Spain remains positive. The ongoing efforts to improve product quality, adhere to international standards, and strengthen market relationships are expected to support continued growth. Vietnamese tuna exporters are well-positioned to capitalize on the rising demand in Spain, ensuring that the upward trend in exports persists.
Source: Vasep.com
