Vietnam cephalopod sales to EU on the rise

The EU remained as the third largest importer of Vietnam cephalopod, accounting for 18.3% in Vietnam's cephalopod shipments to markets. Italy, France and Spain continued to be top biggest importing markets of Vietnam in the EU. Sales to these 3 markets recorded the good growth.

Supplies increased thanks to a rise in production and import volume, along with the flexibility of exporters in adjusting product structure and markets, besides, high demand for cephalopod items for festivals in the end of the year in the EU also facilitated Vietnam’s cephalopod exports to the market in the period.

Italy stayed as the largest buyer of Vietnam cephalopod in the EU; taking up 56.6% in Vietnam’s total export value of cephalopod to the EU. In Jan-Aug 2017, exports to the market reached US$41.6 million; up 85% year on year. France ranked the second. Exports to this market as of August 2017 recorded the highest growth of 230% with the value of US$6.6 million. Exports to Spain reached US$5.5 million; an increase of 55% over the first 8 months of 2016.

According to the International Trade Centre (ITC), in the first half of this year, cephalopod imports into Italy hit US$54.7 million; down 88% over the same period last year. Spain, France, Thailand were the three largest suppliers to Italy and Vietnam was the 9th largest one. Cephalopod imports from these suppliers all decreased in the period.

Recently, France increased imports of fresh/chilled and processed octopus, and reduced those of other products such as frozen cephalopod. In particular, imports of processed squid (HS code 16) accounted for the largest proportion of 64% in total import volume, down 16% over the same period in 2016; followed by those of frozen/dried/salted cuttlefish (HS code 030749) with 26% , down by 69%; and those of octopus products with 0.1%, down 62%.

Spain, Italy, Peru, Germany and Vietnam were top 5 largest suppliers of cephalopod to the market in the first half of 2017. This year, cephalopod imports into France stayed low due to a 38% fall in supplies from Spain. Meanwhile, the market increased imports from Italy, Peru, Germany, Vietnam and Malaysia, but that could not offset the decline in supplies from Spain.

In the first 7 months of 2017, cephalopod imports into the EU reached US$204.9 million; down 86.8% over the same period in 2016. Spain held as the largest supplier to the EU and Vietnam became the fifth largest cephalopod exporter to the bloc.

Untill the end of the year, Vietnam’s cephalopod exports expected to continue the possitive growth.