Positive signals in Vietnam cephalopod exports in the first 2 months of 2021

In the first 2 months of the year, Vietnam's cephalopod exports continued to be dominated by the changing consumption trends in the context of a serious Covid epidemic. Accordingly, the demand is still more focusing on products that are reasonably priced, easy to process, with a long self stable, suitable for processing and consumption at home such as: dried squid, dried octopus, frozen octopus ... In addition, the Tet holiday also caused a decline in raw materials supply and rising sea freight hit the export value of cephalopod.

Top 10 single import markets of Vietnam cephalopod in the 2 months were Korea, Japan, Thailand, China and Hong Kong, Italy, USA, Australia, Malaysia, Philippines and Taiwan respectively, accounting for 93% of Vietnam's total exports of cephalopod.

China, EU and the US tend to increase imports of Vietnamese cephalopod. In particular, exports to China grew the most, up 162% over the same period in 2020, exports to the EU were up 17% and to the US were 18% higher.

The main export products of Vietnam during this period were frozen octopus, frozen squid and dried squid. In which, the export value of frozen octopus and dried squid soared over the same period.

In the first two months of 2021, there were more than 200 Vietnamese enterprises exporting cephalopod. In which, the 3 companies with the largest export value are S.RUAM Vietnam Co., Ltd; Huy Nam Seafood Co., Ltd and Hop Tan Seafood Corp.