With exports for the year estimated at $9-9.3 billion and demand increasing in key markets, things are looking up for Vietnam’s seafood industry, says an industry insider.
Vietnam's famous tuna export turnover hit US$87 million in August, the highest so far this year, according to the latest statistics from the Vietnam Association of Seafood Exporters and Producers.
Tuna exports are increasing strongly, especially canned products with an increase of 468% from the same period in 2022, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The signing of the Vietnam - Israel Free Trade Agreement will open up numerous opportunities for Vietnamese businesses seeking to access this potential market, according to the Vietnam Trade Office in Israel.
Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.