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US boosted imports of Vietnam octopus
March 26, 2018, 09:16 AM
(seafood.vasep.com.vn) The U.S ranks the 6th in top leading importers of Vietnam cephalopod, accounting for 1.6% of the total export value of Vietnam cephalopod to markets.

In 2017, Vietnam's cephalopod exports to the U.S market totaled US$9.7 million, an increase of 94.7% compared to 2016. This was the import market with the highest growth rate behind France and China.

In 2017, Vietnam’s cephalopod exports to the U.S showed good results. While the export value of major items such as shrimp and pangasius to the U.S decreased slightly, exports of cephalopod to this market achieved the impressive growth ( 2-3 digits) in many months.

In 2017, except for January and April, Vietnam’s cephalopod exports to the U.S decreased by 37.9% and 25.5% respectively; exports in the remaining months continuously increased with an increase of over 500% in some month. The figure in December 2017 was 106.5%. Two main groups of products in the export structure to the U.S included frozen squid (HS code 03) and frozen octopus (HS code 03).

In 2017, cephalopod exports to the U.S increased continuously from more than US$1 million in the first quarter to US$3.5 million in the fourth quarter.

Americans tended to consume Vietnam octopus items in the late months of 2017 with a high growth rate of octopus imports compared to squid imports.

According to ITC statistics, in the first 11 months of 2017, the U.S imported cephalopod from 38 countries in the world with the value of US$295.8 million and down 29.2% over the same period in 2016.

In particular, Vietnam was currently the 9th largest suppliers for this market. Vietnam’s cephalopod exports to the U.S increased by 46.5% in value over the same period in 2016.

Currently, Vietnam cephalopod had to strongly compete with the same item from other suppliers in the U.S such as China, India and Indonesia.

 

Cephalopod imports into the U.S by markets (Source: ITC, Thousand US$)

Suppliers

Jan-Nov 2016

Jan-Nov 2017

Variation (%)

World

417,551

295,789

-29.2

China

196,653

113,888

-42.1

Spain

57,530

67,457

17.3

Japan

14,738

14,599

-0.9

Thailand

25,411

14,447

-43.1

Indonesia

13,859

10,037

-27.6

India

23,634

12,700

-46.3

Taipei, China

21,946

21,633

-1.4

Vietnam

3,863

5,659

46.5

Korea

16,130

6,754

-58.1

Argentina

2,726

2,957

8.5

Philippines

11,209

4,324

-61.4

Italy

571

1,323

131.7

Portugal

2,169

1,513

-30.2

 

Cephalopod imports into the U.S by products (Source: ITC, Thousand US$)

HS

Products

Jan-Nov 2016

Jan-Nov 2017

Variation (%)

 

Total

417,551

295,789

-29.2

030749

Cuttlefish and squid

260,558

141,792

-45.6

030759


Frozen/dried/salted octopus

89,466

68,896

-23.0

160554


Processed squid

40,954

57,782

41.1

160555

Processed octopus

24,880

26,567

6.8

030751

Fresh/live/chilled octopus

217

752

246.5

030741

Fresh/live/chilled squid

1,476

-

-100.0

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