Frozen tuna meat and loins continue to lead Vietnam’s tuna export sector, achieving remarkable growth across major global markets. With strong demand in the U.S., EU, and Russia, Vietnam is solidifying its position as a top supplier of quality frozen tuna.
Vietnam’s frozen tuna products, including loins, steaks, and saku cuts, remain highly sought after, reaching over 70 countries worldwide. Key export markets include the United States, European Union, Russia, Canada, and Israel.
Market Highlights and Growth Trends
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United States: Vietnamese frozen tuna exports to the U.S. have shown consistent growth throughout 2024, peaking in August with exports exceeding $23 million. Total exports to the U.S. reached $137 million by August, a 15% increase year-over-year. However, the growth pace has slowed slightly in recent months, suggesting stabilization as the year-end approaches.
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European Union: The EU market continues to welcome Vietnamese frozen tuna products, with a 9% increase in imports in the first eight months of 2024, totaling $55 million. Leading importers include the Netherlands, Lithuania, and Belgium. The Netherlands, in particular, saw a 68% surge in imports to nearly $18 million, buoyed by tariff advantages under the EU-Vietnam Free Trade Agreement (EVFTA).
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Russia: Russia has emerged as the second-largest single market for Vietnam’s frozen tuna meat/loin exports after the U.S., with an impressive 80% growth by August, totaling close to $18 million. Russia’s favorable tariffs and logistical efficiency have propelled this demand despite increased transportation costs linked to tensions in the Red Sea region.
Outlook and Strategic Insights
Vietnam’s frozen tuna sector continues to expand in competitive markets, driven by high-quality products and tariff benefits. Despite some recent challenges, such as rising transportation expenses, the consistent demand from top importers signals a positive outlook. Vietnam’s tuna exporters are well-positioned to leverage these advantages and maintain growth momentum in 2024.
Stay tuned to VNSEAFOOD for further updates on Vietnam’s dynamic seafood export industry.
