Vietnam cephalopod sales to France rocketed

However, cephalopod imports into the market this year were low. According to ITC statistics, France’s cephalopod imports in the first five months of this year totaled 5.9 thousand MT, worth by US$23.4 million, down 54% in volume and 52% in value.

Recently, France increased imports of fresh/chilled and processed octopus, and reduced those of other products such as frozen octopus and squid items. Of that, in Jan-Apr 2017, imports of processed squid (HS code 16) represented the largest proportion of 64% in total import volume, down 16% over the same period in 2016; followed by frozen/dried/salted cuttlefish (HS code 030749) with the share of 26%, down 69% from a year before; imports of octopus products accounted for 0.1%, down 62% year on year.

Spain, Italy, Peru, Germany and Vietnam were top 5 largest suppliers of cephalopod in the first 4 months of 2017. This year, total cephalopod imports into France were low due a drop in Spain’s supplies. With the proportion of over 79% in total cephalopod import volume into France in the first four months of this year, a 38 percent dip in supplies from Spain has reduced France's imports. In the period, France increased imports from Italy, Peru, Germany, Vietnam and Malaysia; however that could not offset the decline in supplies from Spain.

Besides, in early this year, the world's cephalopod production has been low, which pushed up prices and limited supplies to the French market.

According to ITC, the average import price of cephalopod into France in the first 5 months of this year posted the upward trend. The price increased from US$3.37/kg to US$4.15/kg in the period. Out of top 5 biggest exporters, the average price from Spain showed lowest level of US$2.76-3.39 per kg. That from Peru ranged from US$3.72 to US$4.06 per kg. Meanwhile, the average import price of Vietnam’s cephalopod products into the market was on the upward trend, fluctuating at US$ 3.85 – US$8.39 per kg.