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Tuna Exports to Canada Continues to Rise Sharply

Click on the flag for more information about Viet Nam VIET NAM
Monday, April 01, 2024, 01:00 (GMT + 9)

Continuing the growth momentum from the end of 2023, Vietnam's tuna exports to Canada continue to grow in the first 2 months of 2024. In February 2024 alone, tuna exports to this market increased by 146% compared to in the same period last year. Cumulatively until the end of February 2024, tuna exports to Canada reached nearly 5.5 million USD, an increase of 68% over the same period in 2023.

Source: tsukijifoods -->

Canada is currently importing mainly frozen tuna meat/loin products and canned tuna from Vietnam. Compared to the same period, exports of both product groups increased by 150% and 25% respectively.

According to statistics from the International Trade Center (ITC), Vietnam is the third largest source of tuna for Canada in 2023, after Thailand and Italy. Last year, Canada's tuna imports from major sources mostly decreased.

The reason is that in recent years, seafood consumption, including tuna, in Canada has decreased because consumers switched from seafood products to beef, chicken and other protein products when the economy encountered difficulties. towel. Consumers tend to switch to protein sources with lower prices than seafood. Besides, due to economic difficulties, Canada's tuna imports are also affected.

<-- Source: Pantry Shelf

According to information from the Import-Export Department, Ministry of Industry and Trade, Canada is aiming to strengthen the implementation of many supervision policies and tighten management of imported goods to protect the domestic market. Therefore, businesses when exporting to this market will face many difficulties. Enterprises that want to promote exports must closely follow the market.

However, it is expected that Vietnam's tuna exports to Canada will have a chance to recover because the country's seafood consumption demand is forecast to increase in the next 5 years. According to Statista's forecast, Canada's seafood revenue will reach 4.79 billion USD by 2024 and will grow on average 4.90%/year.

Author: Nguyen Ha | Vasep (Translated from the original in Vietnamese)

[email protected]
www.seafood.media


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