Soar in Vietnam cephalopod sales to China
(seafood.vasep.com.vn) In the first half of this year, Vietnam’s cephalopod shipments to China witnessed the highest growth rate among major importing markets of Vietnam. In July 2017, Vietnam’s cephalopod exports to the market valued at US$6.5 million, a remarkable increase of 226% compared to July 2016. The figure in the first 7 months of this year totaled over US$21 million, up 140% over the same period in 2016.
Vietnam ranked the 20th in top leading suppliers of cephalopod to China and the 4th largest exporter of live/fresh/chilled squid (HS cod 030741) to the market behind North Korea, Japan and Indonesia. Out of top 4 suppliers of live/fresh/chilled squid to China, only Vietnam and Indonesia enjoyed the tax rate of 0%, while the others were subject to the tax rate up to 6%.
Vietnam held as the 3rd biggest exporter of frozen octopus (HS code 030759) to China behind Japan and Mauritania. For this item, Vietnam also enjoyed the tax rate of 0% while India, which is also one competitor of Vietnam, was subject to the tax of 17%.
The import demand for cephalopod products in China is high, which is for domestic consumption and re-exporting. In addition, the country imports mainly raw materials with low value and buys more frozen squid for middle-income Chinese farmers.
|
CEPHALOPOD IMPORTS INTO CHINA
|
|
Products
|
Volume (kg)
|
Value (Thousand US$)
|
|
Jan-May 2016
|
Jan-May 2017
|
Variation (%)
|
Jan-May 2016
|
Jan-May 2017
|
Variation (%)
|
|
Processed squid (HS code 160554)
|
3,745,595
|
8,809,344
|
135.2
|
6,328
|
25,779
|
307.4
|
|
Frozen squid (HS code 030749)
|
52,814,449
|
2,662,741
|
-95.0
|
100,355
|
10,008
|
-90.0
|
|
Processed octopus (HS code 160555)
|
1,027
|
9,223
|
798.1
|
11
|
47
|
327.3
|
|
Live/fresh/chilled squid (HS code 030741)
|
2,706
|
0
|
-100.0
|
51
|
0
|
-100.0
|
|
Frozen octopus (HS code 030759)
|
743,706
|
185,198
|
-75.1
|
2,745
|
784
|
-71.4
|
|
Live/fresh/chilled octopus (HS code 030751)
|
11
|
11,952
|
108,554.5
|
0
|
84
|
|