Vietnam’s tuna exports declined by 9.8 percent in 2020 due to the impact of the Covid-19 pandemic, and are showing no signs of recovery.
Analysts point to two reasons for the continuing slump: the unpredictability surrounding the pandemic and intense competition from low-priced Chinese canned tuna in its largest market, the U.S.
Besides, consumers prefer tuna with the blue MSC label representing certification of the sustainable fishery by the Marine Stewardship Council.
Tuna exports were worth $649 million last year, according to the Vietnam Association of Seafood Exporters and Producers. Vietnam exports the fish to 108 markets.
Vietnam’s largest markets after the U.S. are the E.U., Canada, Southeast Asia, and Israel.