Boosting tuna exports to Japan

Vietnamese tuna exports to Japan remain on the rise

Vietnam and Japan are members of the ASEAN-Japan Comprehensive Economic Partnership (AJCEP), the Vietnam-Japan Economic Partnership Agreement (VJEPA), the CPTPP, and the Regional Comprehensive Economic Partnership (RCEP). These free trade agreements (FTAs) have removed tariff barriers to bilateral trade. In 2022, the bilateral trade value exceeded US$43 billion. Japan’s tariff preferences for Vietnam under the CPTPP are facilitating Vietnamese tuna exports to this market. Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) show that in January 2023, Vietnam exported nearly US$2.3 million worth of tuna to Japan, a year-on-year increase of 38 percent.

According to VASEP, in January 2023 Japan increased the import of Vietnamese fresh, frozen and dried tuna, while reducing the import of processed and canned tuna products. Flesh/loin exports accounted for 52 percent of the total value of tuna exports to this market and increased by 162 percent compared with that of January 2022, mostly including frozen yellowfin tuna loin.

Due to a decrease in domestic catches, Japan has to import more fresh and frozen tuna products from other countries, including Vietnam. Since the beginning of 2023, Japan’s tariff preferences for Vietnam under the CPTPP have given a boost to Vietnamese tuna exports to this market. An Hai Fishery, FoodTech and Mariso Vietnam were the top three exporters, accounting for more than 68 percent of the total export value.

Given the export results of the early months of 2023, VASEP predicted Vietnamese tuna exports will face additional difficulties due to growing inflation and changes in consumer habits with greater focus on lower-cost products. Moreover, the cost of seafood catch remains high and the European Commission has yet to remove the yellow card on Vietnamese seafood exports for illegal, unreported and unregulated (IUU) fishing. These factors continue to be hindrances for the tuna sector.

Experts also warned Vietnamese companies of the Japanese market’s growing requirements and advised them to seek information about the market as well as opportunities for access to major distribution channels of Japan such as supermarkets and hypermarkets. Domestic companies should pay special attention to meeting Japanese requirements in terms of goods origin and quality.