QI: Up 18% in Vietnam cephalopod exports

Squid products continued to be the main export products of Vietnam in the first two months of 2018, accounting for 56% of total export value, while octopus accounted for 44%. Of that, sales of dried/salted/fresh/live/frozen octopus (HS code 03) accounted for the highest proportion of 34%; followed by fresh/live/frozen squid (HS code 03), accounting for 31.7%.

This year, thanks to abundant supply of raw materials and high demand from the main markets, Vietnam has boosted its exports to key markets. According to Vietnam Customs statistics, Vietnam’ cephalopod exports to 9 main markets including South Korea, Japan, the EU, Asean, China and Hong Kong, the U.S, Taiwan, Russia and Israel all went up over the same period last year.

South Korea: Exports to South Korea kept the good growth momentum. Vietnam’s cephalopod exports to the market in March 2018 reached nearly US$18 million, up 4% over the same period in 2017; the figure in Jan-Mar 2018 estimated at US$46 million, up 13% over the same period in 2017. South Korea remained as the largest importer of Vietnam cephalopod, accounting for over 36% of Vietnam’s total export value of this item.

Japan: According to Vietnam Customs statistics, Vietnam’s cephalopod exports to Japan in March 2018 reached US$11 million, up 3% over the same period in 2017; the figure in Jan-Mar 2018 hit US$30.6 million, up 17% over the same period last year. Japan's economy is on the trend of recovery, the yen has increased, which facilitated exports of Vietnam cephalopod to this market.

The EU: The EU held as the third rank in top cephalopod buyers of Vietnam. Exports of this item in March 2018 reached US$6.4 million, down 20% compared with March 2017. Therefore, exports to the bloc in the first three months of this year decreased by 13.5% to touch US$17.3 million. This may be driven by the impact of the EU "yellow card" for seafood exports of Vietnam. Italy, France and Spain continued to be the three biggest importers of Vietnam cephalopod in the EU. Of that, exports to Italy and France were down 25.5% and 7.3%, respectively.

ASEAN: In March 2018, Vietnam’s cephalopod exports to ASEAN rebounded to reach US$6.1 million, up 19% compared to March 2017. As a result, the total export value of this item to the region in the first three months of this year increased by 30% to hit US$16 million. Thailand was a large market of Vietnam cephalopod in ASEAN. Vietnam’s cephalopod exports to Thailand in the first 3 months of 2018 reached US$12 million, up nearly 27%.

China: Vietnam’s cephalopod exports to China continued to show the strong growth. In March 2018, Vietnam’s cephalopod exports to this market amounted to US$4.3 million, up 236% over the same period in 2017; the figure in the first three months of 2018 hit US$9.6 million, up 176% year on year.