Tuna exports to UK market suffer decline on strict requirements
VOV.VN - Vietnamese tuna exports to the UK market endured a downturn in September, representing a fall of 36% against the same period from last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Industry insiders attributed the decrease to the UK's stringent import requirements placed on seafood products, which are equivalent to those of the EU.
Vietnamese aquatic exports are currently subject to the European Commission (EC)'s "yellow card" warning, a factor which has made Vietnamese tuna become less competitive in the UK market.
However, nine-month tuna exports to the market increased by 48% year on year to hit more than US$5.5 million.
With regard to product structure, Vietnam mainly exports frozen tuna meat/loin coded HS0304 to the UK market in the reviewed period, accounting for more than 94% of total export turnover.
This means Vietnamese exports of fresh and frozen tuna products to the UK have been increasing sharply compared to the same period last year, according to experts.
The International Trade Center (ITC) reported that the UK’s tuna imports during the seven-month period reached more than US$291 million, marking an increase of 4% year on year.
With the rising consumption demand during the year-end period coupled with the UK’s recent falling inflation, there is a positive outlook ahead for Vietnamese tuna exports to this market.
Currently, Vietnam makes up the 13th largest supplier of tuna to the UK market, behind Ecuador, the Philippines, Thailand, and Indonesia.