Vietnam’s canned tuna exports could boom since the EU countries and the US are stocking up amid the COVID-19 epidemic uncertainty.
The outbreak of COVID-19 is causing EU and the US to stock up on canned tuna, and this is likely to increase demand from Việt Nam this year, the Việt Nam Association Seafood Exporters and Producers has said.
VASEP forecast tuna exports to increase by around 15 per cent this year from more than US$719 million last year.
Exports to the US were worth $316 million, up nearly 38 per cent from 2018.
Demand for tuna is rising in the US, especially for canned products, leading to an increase in the country’s imports in recent years.
Besides, after the US-China trade war began, importers in the country have been looking for alternative sources of supply, including Việt Nam. Last year Vietnam remained the second largest tuna supplier to the US after Thailand.
But Vietnam’s tuna exports to the EU fell 11 per cent to $140 million due to the bloc’s yellow card.