Many tuna businesses divert exports to the Middle East

Since the beginning of the year, tuna exports to the Middle East have increased by 15% over the same period last year. The Middle East continues to be Vietnam's fourth largest tuna export market after the US, EU and CPTPP member countries. Currently, many tuna businesses are diverting their exports to Middle Eastern markets.

Processing tuna for export. Photo: T.H

According to Ms. Nguyen Ha, a tuna market expert, the Middle East is a potential tuna export market for Vietnam. However, the development of exports to this market has many ups and downs. Currently, Israel, Egypt and Lebanon are the three largest tuna import markets of Vietnam in this market bloc.

While tuna exports to Israel were suspended in 2020, tuna exports to this market have increased again in 2021. Currently, Israel is Vietnam's second largest single tuna export market after the US, accounting for 6% of Vietnam's total tuna export value in the first 10 months of the year. Tuna exports to this market increased by 39% compared to the same period in 2020.

Meanwhile, exports to Egypt declined after a boom last year. In 2019, Vietnam's tuna exports to Egypt sometimes increased by triple digits, in 2020 exports to this market increased by 63%. But in 2021, exports to this market stalled. Tuna export value also decreased significantly, by about 4%.

Along with Egypt, Vietnam's tuna exports to Lebanon also decreased slightly by 4% over the same period. The export value to this market reached nearly US$3.4 million, accounting for 6% of the total tuna export value to this market.

In 2021, there were 28 enterprises exporting tuna to the Middle East market. Of which, led by Tuna Vietnam Company Limited (Tuna Vietnam), Tan Phat Canned Joint Stock Company and Binh Dinh Seafood Joint Stock Company (Bidifisco), accounting for nearly 60% of the total export value to the Middle East market.

Currently, the Covid-19 pandemic has been gradually controlled in the markets, and the demand for canned tuna has stabilized again. But the demand for tuna imports from the Middle East is expected to continue to grow well, especially in markets such as the UAE or Yemen. Tuna exporters are all trying to both fight the pandemic and boost production to take advantage of the growing market demand.