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Up 55% in Vietnam cephalopod sales
November 29, 2017, 03:24 PM
(seafood.vasep.com.vn) Vietnam’s cephalopod exports from the beginning of this year were on the upward trend over the same period last year. As of August 2017, the figure totaled US$402 million, up 55% year on year. The export value to top 9 major markets reported the good growth from the same period in 2016. Supplies increased thanks to a rise in production and export volume, along with the flexibility of exporters in adjusting the structure of production and markets.

In Jan-Aug 2017, shipments of squid remained the large share of 59% in Vietnam’s total export value. Out of cephalopod items for exports, sales of fresh/live/frozen squid accounted for the highest proportion of 39%; followed by dried/salted/fresh/live/frozen octopus with 33%.

Currently, Vietnam exported cephalopod to 59 markets, up 9 markets over the same period in 2016. Of that, exports to top 9 major markets accounted for 99% of Vietnam’s cephalopod sales in the first 8 months of this year.

In August 2017, Vietnam’s cephalopod exports to South Korea reached US$22 million; increasing by 34% compared with August 2016. The figure in Jan-Aug 2017 amounted to US$136 million; up 40% over the same period last year. South Korea remained as the leading buyer of Vietnam cephalopod, taking up 34% in the total export value.

Vietnam’s cephalopod sales to Japan in August 2017 reached US$17 million, up 56% compared with August 2016, the figure in the first 8 months of the year estimated at US$94 million, up 43% over same period last year. Japan ranked the 2nd in top largest importers of Vietnam cephalopod, making up 23%. A decrease in the world production of raw cephalopod an a rise in the yen exchange rate partly led to a climb in imports of Vietnam cephalopod into Japan.

The EU held as the 3rd biggest importer of Vietnam cephalopod in this period. Vietnam’s cephalopod shipments to the market through August 2017 hit US$73 million, up 94% over the same period last year. Italy, France and Spain remained as top 3 leading importing markets of Vietnam cephalopod in the EU. Exports to these 3 markets recorded the positive growth.

ASEAN continued to keep its 4th rank. Vietnam’s cephalopod exports to the region in the first 8 months of this year touched US$46 million, up 44% year on year. Thailand and Malaysia were the two major buyer of Vietnam cephalopod in ASEAN. Of that, exports to Thailand goes on the upward trend.

Sales to China witnessed the highest growth rate among the major importing markets of Vietnam cephalopod in this period. Shipments to China and Hong Kong reached US$30 million, up 182% over the same period in 2016. Of that, exports to Hong Kong were worth by US$4.4 million, up 36% year on year.

In the coming time, cephalopod production in the world forecasted to remain low, which drives the price of this item up. Vietnam’s cephalopod exports projected to continue the rise, especially value added items.

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