The export of tuna to Italy has experienced remarkable growth

14/08/2023 14:07

Despite having only 10 companies involved in exporting tuna to Italy, Vietnam's tuna export revenue to Italy has achieved remarkable and exceptional growth.

According to Ms. Nguyễn Hà, a specialist in the tuna market from the Vietnam Association of Seafood Processing and Export (VASEP), although Italy is not among the top 3 largest importers of Vietnamese tuna in the first 6 months of this year, it has drawn attention with a 12-fold increase in June 2023.

Statistics from the General Department of Customs show that Vietnamese tuna exports to Italy, after declining in January, have maintained a triple-digit growth trend in the following months. As a result, the cumulative total of tuna exports to this market in the first 6 months of 2023 reached 5.8 million USD, a 37% increase compared to the same period in 2022.

In contrast to the previous year, Italy has become the largest importer of Vietnamese canned tuna this year, accounting for over 50% of the total tuna export value to this market. The value of these canned tuna exports to Italy has increased fivefold compared to the same period in 2022. Alongside canned tuna, the exports of frozen tuna meat and loins under HS code 0304 from Vietnam to Italy also surged by a significant 71% compared to the same period.

Meanwhile, Italy's tuna imports from various countries this year have remained relatively stable compared to the previous year. Vietnam is currently the 12th largest tuna supplier to this market among more than 33 sources. Presently, Indonesia and Ecuador lead in tuna exports to Italy.

The tariff advantages established by the provisions in the European Union-Vietnam Free Trade Agreement (EVFTA) are among the factors driving the attraction of Vietnamese tuna products to Italian importers, especially in the context of soaring raw tuna prices.

However, moving into the latter half of the year, as the tariff advantage quota is exhausted, there is a likelihood that tuna exports to Italy will slow down. Additionally, if the results of the inspection regarding the EU's Illegal, Unreported, and Unregulated (IUU) fishing control program in October fail to meet expectations for lifting the yellow card warning, Vietnamese tuna exports to EU countries, including Italy, will be affected.

According to statistics from the Vietnamese Customs, currently, there aren't many companies participating in tuna exports to the Italian market. Up until the end of June 2023, the entire country had only about 10 companies engaged in exports to this market. Among them, Yueh Chyang Canned Food, Thanh Dung Canning Co., Ltd, and Nha Trang Bay are leading the way.

Source: haiquanonline.com.vn