Accordingly, in the first quarter of 2022, Vietnam’s tuna exports reached more than 259 million USD, up 72% over the same period in 2021 and up 1.6 times over the same period in 2019, the time before the outbreak of Covid-19 pandemic. With the above turnover, tuna exports in the first quarter reached the highest level in the past 5 years.
Regarding the market, tuna exports to the CPTPP market tend to accelerate. Accordingly, the export value of tuna to the CPTPP market in March 2022 reached nearly 14 million USD, up 49% compared to March 2021. Generally in the first quarter of 2022, tuna exports reached 30.4 million USD, an increase of 40% compared to the same period in 2021.
In the CPTPP market block, Canada is the bright spot for Vietnam’s tuna export with the export value in the first quarter of 2022 reaching 14 million USD, up 70% over the same period in 2021. Compared to 2019, before the outbreak of Covid-19 pandemic, tuna exports had doubled.
According to the Association of Seafood Exporters and Producers, Canada is currently the second largest single importer of Vietnam’s tuna after the US, with a share of nearly 5% of the total tuna export value and is the largest tuna importer in the CPTPP block.
Vietnam is also the second largest supplier of tuna to the Canadian market, after Thailand, accounting for 12% of the total volume of Canada’s tuna imports in 2021. In this market, Vietnam is the biggest supplier of frozen tuna.
In addition to enjoying the MFN 0% most-favored nation tax rate before the CPTPP was signed, the Canadian market also has some very good advantages for Vietnamese tuna to boost exports as follows: There is no export quota; Seafood products from Canada and Vietnam are more mutual than direct competition; At the same time, products imported into Canada are very easy to access to the US market.