EFFECTS OF THE COVID-19, CANNED TUNA PRODUCT INCREASED

Date post :01/08/2020 - 9:20 AM

Due to the impact of the income epidemic of people in the affected markets, the trend to seek cheaper alternatives such as canned or bagged tuna products is preferred. resulting in an increase in exports of this product.
According to statistics of Vietnam Customs, in April 2020, Vietnam's tuna export to the US market still decreased by 36% compared to the same period last year. But for the US, due to the impact of the Covid-19 pandemic, the demand for canned tuna in this market has increased. This has caused Vietnam's canned tuna exports to the US after a long period of continuous decline showing signs of growth, up 2% over the same period in 2019.

Similarly, Vietnam's tuna exports to the EU continued to decline in April. Therefore, the total value of Vietnam's tuna exports to this market in the first four months of the year still decreased by 18% compared to the previous year. with the same period, reaching nearly 82 million USD. However, like the US and other countries, the demand for canned tuna in EU countries increased.

An outbreak of disease is causing tuna production plants of EU countries such as Spain, Italy ... to slow down, plus increasing demand has led the EU to increase imports of canned tuna from outside. Currently, Vietnam's canned tuna exports to the EU also tend to increase over the same period, up 2.7%.

Meanwhile, the demand for tuna in general and canned tuna in particular to other markets also increased. Specifically, tuna exports to ASEAN after a decline in March, have grown again. Vietnam's tuna exports to this market in April increased by 4% over the same period. Notably, tuna exports to the largest import market in the bloc, Thailand, increased by 61%.

In some other major export markets, such as Japan and Egypt, continued to increase. By the end of April 2020, Vietnam's tuna exports to Japan increased by 36% and Egypt increased by 59%.

According to the Vietnam Association of Exporters and Producers (VASEP), for the immediate future, with the situation of the Covid-19 epidemic in major export markets, it is still worse, this is expected to cause the tuna market. The world continues to fluctuate. The demand for canned tuna in markets will continue to increase. In addition, due to the impact of the income epidemic of people in the affected markets, the trend of finding cheap alternatives such as canned or canned tuna fish products will more popular. This will impact tuna import trends in markets in the coming months. Therefore, businesses need to follow the market closely to make appropriate adjustments.

 

Source: Bao Ngoc - congthuong.vn

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