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ASEAN - A potential alternative market for Vietnamese cephalopod
August 27, 2018, 10:33 AM
(seafood.vasep.com.vn) From January to May 2018, Vietnam’s cephalopod exports to ASEAN witnessed the fluctuation. However, with the good growth rate in the January and April, ASEAN stayed as the 3rd largest buyer of Vietnamese cephalopod. The region became a potential export market of Vietnam while exports to main markets faced difficulties.

According to statistics of Vietnam Customs, in the first 5 months of 2018, ASEAN has absorbed nearly US$32 million of Vietnamese crphalopod products, an increase of 30% compared with the same period of 2017. Of that , squid still kept as the main export products of Vietnam to ASEAN. The export value of Vietnamese squid to the bloc picked up 97.3% of the total cephalopod export value to the region; while octopus products accounted for 2.7%. Among the products exported to ASEAN, dried/grilled squid products remained the most popular in this market.

Thailand was the main importer of Vietnamese cephalopod in ASEAN. Sales to Thailand accounted for 75% total cephalopod imports into ASEAN. At the same time, this country was also the biggest importer of cephalopod from ASEAN countries.

According to Thai Customs statistics, imports of this product into Thailand were on the upward trend. In particular, imports of cephalopod into Thailand increased continuously in the first 4 months of 2018, in which imports in some month increased by 172%. In the first four months of this year, Thailand imported nearly 7.3 thousand MT of cephalopod, worth by US$32 million, up 89% in volume and 53% in value.

Vietnam currently stayed as the second largest supplier of cephalopod to Thailand, behind China, which accounted for 25%. Overall, in 2018, cephalopod imports into Thailand from main suppliers increased over the same period last year.

CEPHALOPOD SUPPLIERS TO THAILAND

Suppliers

Volume (kg)

Value (Thousand US$)

Jan-Apr 2017

Jan-Apr 2018

Variation (%)

Jan-Apr 2017

Jan-Apr 2018

Variation (%)

Total

3,840,749

7,260,444

89.0

20,949

32,130

53.4

China

1,615,944

3,870,415

139.5

6,398

13,056

104.1

Vietnam

1,507,006

1,845,547

22.5

13,405

15,642

16.7

Myanmar

467,558

857,260

83.3

352

683

94.0

Cambodia

230,605

652,750

183.1

567

2,355

315.3

Japan

12,273

14,803

20.6

171

270

57.9

Taiwan

60

7,920

13,100.0

1

41

4,000.0

Malaysia

3,065

6,620

116.0

4

8

100.0

South Korea

845

4,302

409.1

6

61

916.7

(Source: Thai Customs)

Imports of frozen squid (HS code 030749) made up the highest share of the import value into Thailand; followed by processed squid (HS code160554) and processed octopus (HS code 160555). Imports of frozen squid took up the highest import proportion of 62% of the total import value of cephalopod into Thailand while the remaining products accounted for less than 10%.

The import price of frozen squid into Thailand in the first 4 months of 2018 ranged from US$4.76 to US$10/kg.

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