(vasep.com.vn) South Korea, EU, and Japan were the top three importing markets for Vietnam cephalopod in 2014. Last year saw attractions for exports to South Korea, a clear rebound in the EU and difficulties in Japanese market.
By November 2014, cumulative value for cephalopod exports were nearly US$ 438 million, up 8.5% year-on-year. Exports to South Korea rose by 26.8%, to EU increased by 10.2% and Japan declined by 8.6%.
Right from the beginning of 2014, there was a shift in choosing export market, from Japan to South Korea and European countries (Italy, Germany, Spain).
The year 2014 witnessed encouraging developments of Vietnam cephalopod exports to South Korea. At the end of 2014, Vietnam - South Korea FTA brought new opportunities for Vietnam to export agricultural and fishery products including shrimp, fish and cephalopod. Tariff levied on cephalopod from Vietnam will reduce to 5% in 5 years. Rapid positive growth rates ranging from 3% to 58% were seen all year round, except for January, when export value of this item downed by 1.3% year-on-year. In Q2/ 2014, export value increased by 45-58%, compared to Q2/ 2013.
From January to November 2014, Vietnam cephalopod export value to Japan was US$ 100.98 million, equivalent to 23.1% of total cephalopod export value, down 8.6% year on year. The decline reveals lower demand and fierce competitions with slow sales and high inventory levels.
There was a recovery in the EU market in 2014. Exports to Italy accounted for 11% of total export value, though export value to this market dipped insignificantly by 0.2%. It is noted that cephalopod exports to Spain increased by 107% in 2014. It is forecast that in 2015, cephalopod exports to EU will experience stronger growth, at 15-25% higher than in 2014.
Vietnam seafood enterprises had to increase imports of raw materials for process and exports. In the first 11 months of 2014, total cephalopod import value reached US$ 36.7 million, up 13.2% year-on-year. Indonesia, accounted for 17% of total raw cephalopod imports, was the biggest exporter, followed by Taiwan with 15.7%, India with 12.6%, and China with 8.15%.