Vietnam’s tuna exports have increased significantly over the past year, topping 1 billion USD in Vietnam’s total global tuna exports and setting a record high of USD 487 million for exports to the US. At the moment, the US represents more than one-third of Vietnam’s total tuna export revenue, making it the country’s top market for tuna exports.
The country’s rich natural resources and advantageous location in the South China Sea play a significant role in the sector’s growth. Due to its extensive coastline, Vietnam is a great location for the tuna fishing business. The government has also taken steps to protect the sector’s sustainability, including developing a national fisheries management system, enforcing strict laws on fishing methods, and encouraging sustainable aquaculture.
Despite the high costs of fishing, with each 20-day to one-month trip costing up to VND200 million, last year fishermen continued to venture out to sea and managed to collect a total of 70,000 tons of tuna, including 17,000 tons of bigeye tuna. This is a testament to the hard work and dedication of the fishermen who are determined to “bring money home for their mothers”. This is evidence of the fishermen’s perseverance and commitment to “bring money home”. Even though the amount of tuna that fishermen collect only makes up one-third of of the raw materials used in processing plants, it is still a significant source of raw materials since the quality of the tuna is improving.
Currently, there are about 200 tuna exporting companies in the country. Due to corporate investments in product quality improvement and increased production efficiency, the quality of Vietnam’s exported tuna has also greatly improved. This has enabled Vietnam’s tuna fulfill the demanding standards of the global market and expand its exports to 99 countries.
Overall, the export of seafood from Vietnam, and specifically the export of tuna, have grown significantly in recent years and are predicted to continue to grow in the years to come. Thanks to the government’s attention to sustainability and the commitment of the fishermen, Vietnam’s tuna exports appear to be on track to progressively take a commanding position on the global market for tuna exports.
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