Middle East emerges as fourth largest consumer of Vietnamese tuna
VOV.VN - The Middle East has become the fourth largest consumer market of Vietnamese tuna, behind only the United States, the European Union, and the CPTPP market, according to the Ministry of Industry and Trade.
Vietnamese tuna exports to a number of markets throughout the Middle East region recorded a considerable surge last year compared to the same period from 2022.
Specifically, tuna exports to Israel, Lebanon, the United Arab Emirates (UAE), and Turkey climbed by 37%, 17%, 23%, and 73%, respectively.
Meanwhile, exports to other markets endured a downward trajectory including Egypt, down 47%, and Saudi Arabia, down 78%.
Although the Middle East accounts for nearly 10% of Vietnam’s total tuna export turnover, the market sets forth high requirements for imported food products, including Halal certification, forcing local firms to fully abide by these stringent standards.
Insiders have pointed out that the tuna industry will face numerous difficulties this year, especially as the European Commission (EC) has maintained its yellow card warning against Vietnamese seafood exported to the bloc.
Although the price of raw tuna in the world market has cooled down, tensions in the Red Sea have fuelled transport costs, making the price of finished tuna products stay high.
Moreover, slow economic recovery globally, fierce competition, and high inventories are anticipated to hinder Vietnamese tuna exports this year.
