Tuna businesses redirected to the Middle East market

The stable growth rate of the Middle East market in terms of Vietnam's tuna exports has gathered the attention of many tuna businesses.

Many tuna businesses have shifted their attention to the Middle East market. Photo: TL.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), for the first ten months of 2021 the tuna export value to the Middle East reached USD 57.5 million, an increase of 15% over the same session in 2020.

The Middle East continues to be Vietnam’s fourth-largest tuna export market. Israel, Egypt and Lebanon are three of Vietnam's largest tuna import markets in the Middle East’s market block. The Israeli market is the most important one among the three countries.

Last year, tuna exports to Israel became stagnant. However, tuna export activities to this market have once again regained its uptrend this year.

Israel is currently Vietnam's second-largest single tuna export market after the US, accounting for 6% of the country's total tuna export value in the first ten months of this year. Compared to the same period of 2020, tuna exports to this market have risen by 39%.

As the Middle East market is showing stable growth this year, many tuna businesses have redirected their activities to this market.

Since the beginning of this year, the Middle East market has welcomed 28 businesses participating in tuna export activities. The leading enterprises include Vietnam Tuna Company Limited (Tuna Vietnam), Tan Phat Foods Corporation and Binh Dinh Fishery Joint Stock Company (Bidifisco). These three businesses accounted for 60% of the total tuna export value to the Middle East.