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Vietnam cephalopod exports to Canada tend to increase
April 27, 2018, 12:30 PM
(seafood.vasep.com.vn) In terms of value, Canada ranked the 17th out of top leading cephalopod importers in the world. Although imports into the country only took up 1.2% of the global cephalopod imports in value, those into Canada tended to increase from 2010 to 2016. The import value of cephalopod into the market increased from US$51.5 million in 2010 to US$79 million in 2016. In 2017, the import value into the country decreased by 70% compared to 2016 with US$23.4 million.

Of that, imports of frozen cuttlefish and squid products accounted for 60-66% of the total import volume, those of frozen octopus made up 20%, and those of processed cephalopod picked up 20-24%.

Vietnam held as the 12th largest supplier of cephalopod to the Canadian market, accounting for 2.2%; behind China, Morocco and the U.S.

In 2017, Canada imported 3,084 MT of cephalopod, worth by US$23.4 million; decreasing by 79% in volume and 70% in value.

The average import price of cephalopod into Canada in 2017 quoted at US$7.5/kg. That from Vietnam was US$11.7 / kg.

Though cephalopod exports to Canada took a small share of 0.5% in total cephalopod sales of Vietnam, exports to the market are on the upward trend and Canada is projected to be a potential importing market of Vietnam in the coming time.

In 2017, Vietnam’s cephalopod exports to Canada reached US$1.9 million, up 63.6% over 2016. In January 2018, the figure was US$0.3 million, up 260.5% over the same period in 2017.

Vietnam’s exports of frozen squid accounted for the main share of 77% in the export value of cephalopod products to the Canadian market; followed by frozen octopus with 16% and processed cephalopod with 7%.

Cephalopod imports into Canada in 2017 (Source: ITC)

Suppliers

Volume (MT)

Value (Thousand US$)

Average import price (US$/kg)

2016

2017

Variation (%)

2016

 

2017

 

Variation (%)

World

14,610

3,084

-78.9

79,006

23,421

-70.4

7.6

China

6,839

1,096

-84.0

33,064

6,449

-80.5

5.9

U.S

687

346

-49.6

3,924

2,191

-44.2

6.3

 

Morocco

581

243

-58.2

5,047

2,424

-52.0

10

Spain

74

206

178.4

666

2,087

213.4

10.1

Thailand

1,997

202

-89.9

12,818

1,837

-85.7

9.1

Japan

328

187

-43.0

2,279

1,714

-24.8

9.2

 

Malaysia

69

113

63.8

384

701

82.6

6.2

 

Indonesia

186

104

-44.1

1,317

1,186

-9.9

11.4

 

India

522

98

-81.2

2,662

658

-75.3

6.7

 

Taipei, China

1,930

93

-95.2

9,074

814

-91.0

8.8

 

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