(seafood.vasep.com.vn) China is the 5th largest importer of Vietnam cephalopod, accounting for 6.6% of the total export value of Vietnam cephalopod to markets.
Through November 2017, Vietnam’s cephalopod exports to the China and Hong Kong reached US$37.8 million, up 145.6% over the same period in 2016. Of that, exports to Hong Kong valued at US$6.3 million, up 25.3% year on year. Shipments to China experienced the highest growth rate among major importing markets of Vietnam cephalopod in the first 11 months of the year.
Vietnam's cephalopod exports to China from the beginning of the year achieved the positive growth. From May to September 2017, Vietnam’s cephalopod exports of to China continued to the 3-digit growth. Notably, in August 2017, exports to this market increased by 400% compared with August 2016. This can be a good signal for Vietnam’s cephalopod enterprises exporting to China this year.
Consumption of cephalopod in China is on the rise because people are more concerned about their health, so they look for healthier foods such as seafood. A rise in the middle class and the number of tourists also increase consumption of squid and octopus in restaurants. In addition, the stable Yuan stimulates the demand of Chinese importers.
According to the International Trade Center (ITC), in the first 8 months of 2017, China's cephalopod imports touched US$84.7 million; down 54.5% over the same period in 2016.
Vietnam was the 20th biggest supplier of cephalopod to China and the 4th largest exporter of fresh/live/chilled squid (HS code 030741) to the market behind South Korea, Japan and Indonesia. Out of top 4 countries exporting live/fresh/chilled squid to China, Vietnam and Indonesia enjoyed the tax rate of 0% while the others were subject to the tax rate of up to 6%.
Vietnam was the 3rd exporter of frozen octopus (HS code 030759) to China behind Japan and Mauritania.
In the first 8 months of 2017, China increased imports of processed squid (HS code 160554), live/fresh/chilled octopus (HS code 030751) and processed octopus (HS code 160555). Of that, imports of fresh/chilled/frozen octopus (HS code 030751) posted the highest rise.
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Cephalopod imports into China by products (Thousand US$; Source: ITC)
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HS
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Products
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Jan-Aug 2016
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Jan-Aug 2017
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Variation (%)
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| |
Total
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186,082
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84,730
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-54.5
|
|
160554
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Processed squid
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8,889
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63,692
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616.5
|
|
030749
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Cuttlefish and squid
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172,018
|
19,847
|
-88.5
|
|
030751
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Fresh/live/chilled octopus
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1
|
110
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10,900.0
|
|
160555
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Processed octopus
|
26
|
103
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296.2
|
|
030741
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Live/fresh/chilled squid
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81
|
-
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-100.0
|
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030759
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Frozen/dried / salted octopus
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5,067
|
978
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-80.7
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