Rebounded in Vietnam cephalopod sales to China

Vietnam’s cephalopod exports to China were unstable and tended to decrease in recent years (2012-2016). In 2017, exports of this item to the market showed the continuous growth.

As of October 2017, Vietnam’s cephalopod shipments to China amounted to US$35.5 million; up 168% over the same period in 2016. This was the market with the highest growth rate in top leading cephalopod buyers of Vietnam during this time.

From May to September 2017, Vietnam’s cephalopod exports to China continued to record the 3-digit growth. Notably, in August 2017, exports to this market increased by 400% compared with August 2016.

This can be a good sign for Vietnam’s cephalopod exporting enterprises to China this year.

According to the International Trade Center (ITC), in the first half of 2017, cephalopod imports into China reached US$46.7 million; down 65.4% over the same period in 2016. Peru, South Korea, the U.S, Chile were the leading exporters of cephalopod to China.

Vietnam held as the 20^th leading supplier of cephalopod to the Chinese market and the 4^th largest exporter of live/fresh/chilled squid (HS code 030741) to the market, behind South Korea, Japan and Indonesia. Out of top 4 exporters of live/fresh/chilled to China; only Vietnam and Indonesia enjoyed the tax rate of 0%, while the others were subject to the tax rate of up to 6%. Meanwhile, Vietnam ranked the 23rd in top biggest exporters of frozen squid (HS code 030749) to China.

Vietnam was the third supplier of frozen octopus (HS code 030759) to China, behind Japan and Mauritania.

In the first 6 months of 2017, China increased imports of processed squid (except for smoked item, HS code 60554); live/fresh/chilled octopus (HS code 030751); processed octopus (HS code 160555). Of that, imports of fresh/chilled/frozen octopus (HS code 030751) experienced the highest rise of 117.863% over the same period in 2016.