Vietnamese tuna exports impacted by Russia-Ukraine conflict

VOV.VN - The ongoing armed conflict between Russia and Ukraine has significantly affected Vietnamese tuna exports to these markets, according to Vietnam Association of Seafood Exporters and Producers (VASEP).

As shown in the statistics compiled by the General Department of Vietnam Customs, as of the end of 2021 both Eastern European countries were among the 20 largest markets in terms of tuna import value from Vietnam.

At present, Russia represents the 13th largest importer of Vietnamese tuna. Last year saw Vietnamese tuna exports to the Russian market reach over US$14 million, accounting for 2% of the country’s total export value. In particular,  tuna exports to Russia in January enjoyed an annual increase of 427%.

Furthermore, Ukraine is also currently the country’s 19th largest tuna import market. Over the past five years, the export value of tuna has continuously increased, with last year witnessing tuna export value soar by 106% on year.

According to the VASEP, some exported orders were returned back due to the ongoing Russia-Ukraine conflict. Currently, local tuna exports to the two countries must be halted due to the risks of banking transactions, coupled with supply chain disruption on production and imports and exports.

Moreover, both Ukraine and Russia are the most important suppliers of sunflower oil to the global market, including Vietnam. Therefore, if the conflict continues to escalate, the price of most of the vegetable oils used in tuna processing will jump to all-time highs, thereby pushing up the production cost of canned and bagged tuna in the to come.

 

 

Related

Tuna exports to US soar by 210%
Tuna exports to US soar by 210%

VOV.VN - Vietnamese tuna exports to the United States saw a year-on-year surge of 210% in January to reach nearly US$44 million, accounting for roughly 50% of the total export value of the product, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Tuna exports to US soar by 210%

Tuna exports to US soar by 210%

VOV.VN - Vietnamese tuna exports to the United States saw a year-on-year surge of 210% in January to reach nearly US$44 million, accounting for roughly 50% of the total export value of the product, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Tuna exports to China skyrocket in first half of September
Tuna exports to China skyrocket in first half of September

VOV.VN - The export value of Vietnamese tuna to China during the first half of September soared by 332% compared to the same period from last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Tuna exports to China skyrocket in first half of September

Tuna exports to China skyrocket in first half of September

VOV.VN - The export value of Vietnamese tuna to China during the first half of September soared by 332% compared to the same period from last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Tuna exports to EU see strong surge thanks to EVFTA
Tuna exports to EU see strong surge thanks to EVFTA

Vietnam exported 15,870 tonnes of tuna worth US$73.33 million to the European Union in the first half of 2021, up 39.3 % and 31.6 %, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT).

Tuna exports to EU see strong surge thanks to EVFTA

Tuna exports to EU see strong surge thanks to EVFTA

Vietnam exported 15,870 tonnes of tuna worth US$73.33 million to the European Union in the first half of 2021, up 39.3 % and 31.6 %, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT).