Việt Nam’s tuna exports to US, Europe forecast to rise as people stock up amid pandemic

March 24, 2020 - 16:19

The outbreak of COVID-19 is causing EU and the US to stock up on canned tuna, and this is likely to increase demand from Việt Nam this year, the Việt Nam Association Seafood Exporters and Producers has said.

Việt Nam's canned tuna exports could boom since the EU countries and the US are stocking up amid the COVID-19 epidemic uncertainty. — VNS Photo Văn Châu

HCM CITY — The outbreak of COVID-19 is causing EU and the US to stock up on canned tuna, and this is likely to increase demand from Việt Nam this year, the Việt Nam Association Seafood Exporters and Producers has said.

VASEP forecast tuna exports to increase by around 15 per cent this year from more than US$719 million last year.

Exports to the US were worth $316 million, up nearly 38 per cent from 2018.

Demand for tuna is rising in the US, especially for canned products, leading to an increase in the country's imports in recent years.

Besides, after the US-China trade war began, importers in the country have been looking for alternative sources of supply, including Việt Nam. Last year Việt Nam remained the second largest tuna supplier to the US after Thailand.

But Việt Nam's tuna exports to the EU fell 11 per cent to $140 million due to the bloc’s yellow card. — VNS

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Price gap of gold narrows in Viet Nam and globally

Gold prices went up in both global and local markets on March 24 when the gap of the prices between the two markets narrowed.

Economy

Foreign investors pour $8.55b into VN in Q1

Foreign investors poured a total of US$8.55 billion into Việt Nam from January 1 to March 30, equivalent to 79.1 per cent of the same period last year, according to the latest report by the Foreign Investment Agency.

Economy

Emirates Group takes adaptive measures to cope with COVID-19 pandemic

Emirates and dnata (Dubai National Air Transport Association) have been adapting operations in line with regulatory directives as well as travel demand since the COVID-19 outbreak began, according to the Emirates Group.

Economy

SCIC raises US$14.5 million from State capital sale

The State Capital Investment Corp (SCIC) has earned VNĐ342 billion (US$14.5 million) for selling a part of its ownership at the Civil Engineering Construction Corporation No 5.

Economy

Côn Đảo Island to be temporarily closed to prevent COVID-19

The southern province of Bà Rịa-Vũng Tàu decided to temporarily closed Côn Đảo Island, a popular tourist attraction, to visitors starting Tuesday.

Economy

COVID-19 pandemic challenges garment and textile businesses

Half of all textile exports from HCM City go to the US, while the EU accounts for 15-18 per cent of annual exports.

Economy

Việt Nam’s cashew exports to US up in two months

Việt Nam’s cashew exports to the US in the first two months of the year rose by 21 per cent in volume to 17,900 tonnes and 3.6 per cent in value to US$126.2 million year-on-year, according to the General Department of Customs.

Economy

US dollar demands keep stable in local market

The US dollar listed at commercial banks has so far this year gained 1.67 per cent against the Vietnamese đồng due to a rise in the global market, but supply and demand for the greenback in the domestic market has remained stable.

Economy

Solar rooftop industry poised for rapid growth

Technological advances, preferential credit policies and pricing incentives have set the stage for solar rooftop energy to become the next big thing in clean energy in Việt Nam, according to industry insiders.