Photo: VASEP/FIS

Tuna Exports Require Momentum for Growth in 2025

VIET NAM
Thursday, January 23, 2025, 00:10 (GMT + 9)

Vietnam's tuna industry faced significant challenges in the second half of 2024.

Despite these obstacles, the industry achieved a remarkable milestone, with export turnover nearing $1 billion. Maintaining this growth trajectory, however, will require concerted effort and innovation, according to Nguyen Ha, Tuna Market Expert from the Vietnam Association of Seafood Exporters and Producers (VASEP).

Impressive Export Turnover

Statistics from Vietnam Customs reveal that Vietnam's tuna exports in December 2024 totaled nearly $86 million, marking a 17% increase compared to December 2023. For the entire year, export turnover reached $989 million, a 17% rise over 2023.

Over the past year, Vietnam’s tuna exports showed consistent year-over-year growth. Particularly noteworthy was the rebound in exports of processed tuna products, which saw a 24% increase in the latter months of 2024 after an earlier decline. This segment accounted for 17% of total export turnover.

Photo: Vneconomy/FIS

Meanwhile, canned tuna exports, which performed strongly in the first half of the year, experienced a slowdown in the second half. Still, cumulative exports of canned tuna rose by 17% in 2024. Frozen tuna meat and loin products remained the largest export category, showing strong growth, especially in the year's closing months.

Photo: Vneconomy

In terms of markets, tuna exports to major destinations were higher than in 2023, though growth rates fluctuated in the latter half of the year. Notably, exports to the EU picked up again in December, while shipments to Canada, after a period of decline, surged by 40% in the last two months of the year compared to the same period in 2023.

Photo: Vneconomy/FIS

In contrast, exports to Japan and Israel declined in the final months of 2024. Exports to Japan fell by 27% in December, while shipments to Israel dropped by 28%.

Opportunities and Challenges for 2025

The outlook for Vietnam’s tuna industry in 2025 is optimistic, buoyed by increased global demand and favorable tariff policies in key markets. For instance, during Donald Trump’s second presidential term, Vietnam may continue to benefit from high tariffs imposed on Chinese imports. Additionally, renewed tariff incentives under trade agreements present an opportunity for Vietnamese businesses to expand their export footprint.

However, the industry faces several hurdles that must be addressed to sustain growth.

Photo: Vneconomy

For Fishermen:

To support sustainable marine exploitation, fishermen need clear incentives and streamlined regulations. Key recommendations include:

1. Establishing an Auction Market: This would help fishermen secure the best prices for their catch while centralizing traceability data.
2. Revising Fishing Regulations: Adjusting policies related to fishing areas (shore, inshore, and offshore) and the minimum allowable size for key species such as skipjack and yellowfin tuna.
3. Promoting Cooperative Models: Encouraging collaboration between Vietnamese corporations and coastal nations to expand fishing operations, ensuring a sustainable and abundant supply of raw materials.

Photo: Vneconomy/FIS

For Enterprises:

Businesses must work towards improving operational efficiency and reducing administrative burdens. Recommended actions include:

1. Streamlining Certification Processes: Simplify procedures for issuing sanitary (S/C) and catch certificates (C/C) to address existing bottlenecks.
2. Facilitating Sampling and Inspection: Allow businesses greater flexibility in registering sampling and inspection plans, tailored to their production and export volumes.
3. Enhancing the Business Environment: Promote investment-friendly policies to strengthen the industry’s competitiveness.

A Collaborative Path Forward

With coordinated efforts between regulatory agencies, enterprises, and fishermen, Vietnam’s tuna exports have the potential for robust growth in 2025. By addressing current challenges and leveraging opportunities, the industry can achieve greater sustainability and prosperity in the global market.

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