Tuna exporting enterprises worry about order disruption

DNVN - Rising tensions between Iran and Israel are putting Vietnamese tuna exporters at risk of disrupted orders, especially in the final months of the year. Although Israel is a potential market for Vietnamese tuna, regional conflicts could have a negative impact on transportation and exports.

Israel has become an important tuna export market for Vietnam, behind the US and the EU. Statistics from Vietnam Customs show that in 2023, tuna export turnover to Israel increased by 37% compared to the previous year, reaching over 50 million USD. The Vietnam - Israel Free Trade Agreement (VIFTA), signed in July 2023, has brought many opportunities for the Vietnamese seafood industry, especially tuna.

Entering 2024, tuna exports to Israel continued to record strong growth, but in the past three months there have been signs of slowing down. Specifically, export turnover decreased by 31% in July, however, in August there were signs of recovery with an increase of 20% compared to the same period last year, but still not reaching the expected level.

Tensions between Iran and Israel could create fluctuations in tuna exports in the coming time.

The Vietnam Association of Seafood Exporters and Producers (VASEP) considers Israel a potential market for Vietnamese tuna. Despite frequent conflicts in the Middle East, tuna exports to the region have maintained a growth trend.

However, Ms. Nguyen Ha, tuna market expert of VASEP, warned that tensions between Iran and Israel could create fluctuations in the coming time.

In addition, the Middle East, with its strategic location connecting three continents: Asia, Europe, and Africa, is a hotspot for maritime transport. If the conflict continues, the sea route through the Gulf of Aden, one of the most important routes between Europe and Asia, could be affected. Disruption of this route will impact international trade, including Vietnam's seafood exports.

This year, tuna exporters have also encountered difficulties in purchasing raw materials domestically due to regulations on the minimum size of skipjack tuna allowed to be caught. This has forced businesses to increase raw material imports, leading to increased transportation and financial costs.

After a long period of facing difficulties, many businesses hope for the end-of-year holidays to restore production and exports. However, if the Israeli market encounters obstacles, inventories will increase, putting pressure on cash flow, making it even more difficult for businesses to maintain operations.

Minh Thu

Source: https://doanhnghiepvn.vn/kinh-te/doanh-nghiep-xuat-khau-ca-ngu-lo-gian-doan-don-hang/20241017062558076