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Vietnam cephalopod exports up 55%
October 27, 2017, 08:00 AM
(seafood.vasep.com.vn) Vietnam’s cephalopod exports showed the continuous increase from the beginning of this year. Through Aug 2017, Vietnam’s cephalopod sales totaled US$402 million, up 55% over the same period last year. Exports in Sep 2017 to top 9 major importing markets recorded the positive growth over the same period in 2016. Supplies increased thanks to a rise in capture output and import volume, along with the flexibility of exporters in adjusting the structure of products and markets, which had facilitated exports of cephalopod in the first 8 months of the year.

Shipments of squid products remained the large proportion of 59% in the total export value in Jan-Aug 2017. Of that, exports of fresh/live/frozen squid accounted for the highest proportion of 39%; followed by dried/salted/fresh/frozen octopus with 33%.

Currently, Vietnam exported cephalopod to 59 countries, up 9 markets over the same period in 2016, making up 99% of Vietnam’s total cephalopod exports in the first 8 months of this year.

Vietnam’s cephalopod sales to South Korea in Aug 2017 amounted to US$22 million; increasing by 34% compared with Aug 2016. The figure in the first 8 months of this year estimated at US$136 million; up 40% year on year. The country remained as the 1st rank in top cephalopod importers of Vietnam, accounting for 34% of the total export value.

Vietnam’s cephalopod shipments to Japan reported the continuous growth. Exports in Aug 2017 reached US$17 million, up 56% from Aug 2016. The figure in Jan-Aug 2017 was US$94 million, up 43% over same period last year. Japan ranked the 2nd top leading cephalopod buyers of Vietnam, accounting for 23%. A decrease in the world production of cephalopod and a rise in yen led to a jump in imports of this item into the market from Vietnam.

The EU held as the 3rd rank in the period with good growth. Vietnam’s cephaopod sales to the EU as of Aug 2017 reached US$73 million, up 94% from a year before. Italy, France and Spain continued to be top 3 biggest importers in the bloc. Exports to the three markets posted the good growth.

ASEAN remained as the 4th rank. Vietnam’s cephalopod sales to the region hit US$46 million, up 44% over the same period last year. Thailand and Malaysia were two major importing markets of Vietnam in the bloc. Shipments to Thailand rose remarkably.

In the period, exports to China witnessed the highest growth rate among major buyers of Vietnam cephalopod. Vietnam’s cephalopod exports to China and Hong Kong reached US$30 million, up 182% over the same period in 2016. Of that, sales to Hong Kong were worth by US$4.4 million, up 36%.

In the coming time, global cephalopod production forecasted to remain low, which will push the price of this item up. Vietnam’s cephalopod exports expected to go on the rise, especially value-added items

Other news
Vietnam shrimp exports rebounded in September (05/12/2018) Down in cephalopod exports to Italy due to higher price (05/12/2018) Strong rise in tuna sales to Israel (05/12/2018)
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