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Down in cephalopod exports to Italy due to higher price
December 05, 2018, 08:23 AM
(seafood.vasep.com.vn) In the first five months of 2018, Italy's cephalopod imports decreased. The reason was that the fall in production led to a shortage of the supply, which has pushed the prices of cephalopod higher and reduced the demand for imports into this country.

According to statistics from the International Trade Center (ITC), in the first five months of 2018, Italy imported 5.6 thousand MT of this item, worth by nearly US$39 million, down 28% in volume and 14% in value compared for the same period of 2017.

This year, imports of cephalopod products into Italy have decreased over the same period in volume, but the import value of some items still increase due to higher prices. Italy currently increased imports of frozen/smoked/salted squid and fresh/live/chilled octopus, accounting for 33% and 27%, respectively.

IMPORTS OF CEPHALOPOD INTO ITALY

Products

Value (Thousand US$)

Volume (MT)

Jan-May 2017

Jan-May 2018

Variation (%)

Jan-May 2017

Jan-May 2018

Variation (%)

Frozen/smoked/salted squid

20,096

12,809

-36.3

3,678

2,309

-37.2

Fresh/live/chilled octopus

10,924

10,334

-5.4

1,580

1,128

-28.6

Processed octopus

3,918

4,732

20.8

435

420

-3.4

Frozen/dried/salted octopus

5,903

6,976

18.2

1,008

859

-14.8

Processed squid

4,330

4,012

-7.3

1,096

889

-18.9

Total

45,171

38,863

-14.0

7,797

5,605

-28.1

(Source: ITC)

This year, the production of cephalopod in the world has reduced which affected supplies to Italy and pushed the average import price of cephalopod higher into Italy in the first 5 months of 2018 from 13 to 29 % over the same period of 2017.

Italy currently imported cephalopod from 23 countries around the world. In particular, most of the supplies of cephalopod to Italy were from the intra-EU countries, led by Spain. Indonesia, Peru and Vietnam were the three largest extra-EU suppliers of cephalopod to the Italian market. In general, due to the scarce supply of raw materials, Italy's cephalopod imports from the main suppliers decreased.

According to statistics of Vietnam Customs, in the first eight months of this year, Vietnam’s cephalopod exports to Italy reached nearly US$27 million, down 36% over the same period last year. Italy was currently the largest market of cephalopod of Vietnam in the EU, accounting for 6.4% of the total export value of Vietnamese cephalopod.

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