Vietnam’s tuna exports to EU see strong surge thanks to EVFTA

21-Sep-2021 Intellasia | VNA | 5:02 AM Print This Post

Vietnam exported 15,870 tonnes of tuna worth 73.33 million USD to the European Union in the first half of 2021, up 39.3 percent and 31.6 percent, 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 percent 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 USD, up 43.9 percent in volume and 59.3 percent 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.

According to the MoIT, Vietnamese tuna was sold at 4.62 USD per kilogram on average to the EU in the first six months of the year, down 0.27 percent 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 percent in volume and 608.6 percent in value, and Bulgaria, 289 percent and 229 percent, 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 percent share of the EU’s total tuna imports, compared to 4 percent in the same period last year.

The MoIT’s Agency of Foreign Trade 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./.

https://en.vietnamplus.vn/vietnams-tuna-exports-to-eu-see-strong-surge-thanks-to-evfta/208187.vnp

 

Category: Economy, Vietnam

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