11:32 | 20/10/2018 Trade
The Middle East is currently the best selection for Vietnamese exporters of canned tuna to expand market in the context that the consumption demand in such traditional markets as the US and the EU are experiencing a slowdown, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.
|Tunas caught by fishermen in Phu Yen - Source: VNA|
Statistics of the Vietnam Customs showed that the export turnover of tuna to Middle East nations in the first nine months of 2018 enjoyed a year-on-year surge of 42 percent. Of the total value, 80 percent came from the export of canned tuna.
Currently, the Middle East market buys about 16 million tuna cans, or 200,000 tonnes, from other countries. In the region, Egypt, Arab Saudi and Israel are the three largest importers of tuna, accounting for 21 percent, 19 percent and 11 percent of the market share, respectively.
According to VASEP, among 14 Middle East nations, Israel and Egypt are the two biggest buyers of Vietnamese tuna.
Vietnam’s tuna export revenue is expected to reach the target of US$500 million in 2018, as the turnover already hit US$351 million in the first seven months of this year.