Headway's tuna output makes a strong breakthrough in the EU and UAE markets in the first 8 months of 2024

Statistics from the first 8 months of 2024 show that Headway JSC has shipped nearly 4,000 tons of Vietnamese tuna to countries around the world, an increase of 50.3% over the same period in 2023. The three leading markets in terms of output are the EU (765.8 tons), UAE (616.7 tons) and the US (586.4 tons).

According to a report from the VASEP association, in the first 8 months of 2024, tuna export turnover reached nearly 648 million USD, up 19% over the same period last year. The US, EU, and Israel were the three main export markets with growth rates of 17%, 22%, and 47%, respectively.

The chart shows Headway's top 7 tuna export markets in the period of 2023, 2024 - Unit: tons

According to Headway's production statistics, the EU and UAE are the two markets with the strongest breakthroughs with impressive growth rates, increasing 3.3 times and 2.7 times compared to the first 8 months of 2023. Meanwhile, the US market showed signs of slowing down, witnessing a slight decrease of 11.9% compared to the same period last year. The analysis report shows:

• EU market: Tariff incentives from the EU-Vietnam Free Trade Agreement contribute to strong growth in the seafood industry, most commonly frozen and canned Vietnamese tuna products.
• UAE market: With a per capita seafood consumption higher than the world average, tuna, pangasius, and other marine fish imported into the UAE are Vietnam's main products.
• US market: Although the risks of conflict in the Red Sea affect shipping times and increase freight rates, the US still maintains a stable growth rate thanks to increased consumption demand in this market.

In the next stages of development, Headway will continue to expand its frozen seafood market share in key markets and countries. At the same time, we aim to conquer new potential markets, contribute to the domestic economy, and promote the integration process into the global value chain.

Source: VASEP