Cephalopod exports surged in Jan-Feb 2017

Although Korea was the largest market of Vietnam cephalopod, the market had the lowest growth among those of three major importing markets. In the first two months of this year, exports to South Korea reached US$23.07 million, up 8% over the same period in 2016. In February 2017, the sales reached US$8.1 million, up 34% from Feb 2016.

Thanks to positive outlook in the economies of the US, Japan and the EU in the early months of this year, cephalopod exports reported the growth in these markets, especially the EU. Cephalopod exports to the EU in the first two months of this year were worth US$11.9 million, up nearly 60% over the same period last year. Particularly, in February 2017, export value reached US$3.2 million, up 22% compared to February 2016. The EU was the third largest market of Vietnam cephalopod, accounting for 19% of the total export value of cephalopod. Belgium was the third largest importer in the bloc but had the highest growth rate. In the first 2 months of this year, exports to Belgium reached US$869 thousand, up 245.7%. France was the second largest importer of Vietnam cephalopod in the EU. Italy was the leading importer in the EU, reaching US$6.5 million, up 35.7% over the same period in 2016.

Asean was the fourth largest market, accounting for 11.2% of the totals, reaching US$6.9 million, down 5% over the same period of 2016. Thailand accounted for 84% of the market, reaching US$5.8 million, up 0.2% over the first two months of 2016. Exports of cephalopod to China, Hong Kong increased by 25% in the first two months of this year reaching US$2.1 million while exports to Taiwan fell sharply nearly 57%, reaching US$$402 thousand.

In the first two months of this year, squid exports reached US$$36.2 million, accounting for 58% of total exports, while octopus accounted for 42% with the value of US$26.2 million.

Written by Ngoc Thuy