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Vietnam - among top 5 suppliers of processed squid to Japan
May 22, 2019, 08:37 AM
(seafood.vasep.com.vn) According to ITC statistics, in the first quarter of 2019, Japanese cephalopod imports reached nearly 11.7 thousand tons worth US$77.6 million, up 11% in volume and 10% in value compared to the same period in 2018.

Processed cuttlefish and squid products were imported most, accounting for 78% of import value. In the first 3 months of the year, Japan sharply increased the import of processed squid products with more than 10 thousand tons with worth US$60.7 million, up nearly 17% in volume and 15% in value. Meanwhile, imports of processed octopus fell by 19% in volume and nearly 13% in value, with nearly 1.5 thousand tons, worth US$15.3 million and accounting for nearly 20% of total imported cephalopod. Frozen squid products accounted for only 2% of total imports, although Japan tended to increase imports of this product with a rise of 941% in volume and 2.090% in value.

For Japan's main imported product of processed squid, Vietnam was among the top 5 largest suppliers, after China, Thailand and Peru. China accounted for a dominant proportion in this segment with 89% of Japanese import value while Vietnam only accounted for less than 2%. In the first quarter of 2019, Japan increased the import of processed squid from China and Peru, while imports from Vietnam and Spain fell.

Imports of processed squid from Thailand declined sharply in volume (down 22%). However, export value still rose (up 4.8%) due to the average import price increasing by 38% from US$21 to 29/kg.  Processed squid products from Thailand and Spain exported to Japan are priced at an average of US $ 21-29 / kg, significantly higher than China, Vietnam and Peru (US$4.5-6.5/kg). Along with Thailand, Vietnam's average import price also increased by 12% from US$4.7 in the first quarter of 2018 to US$5.3/kg in the first quarter of 2019, while the import price from 3 other supplier decreased.  However, it was not a good sign as the price increase may cause import demand to fall, with the fact that the volume of squid imported from Vietnam has declined by 22%.

For processed octopus products, Vietnam closely followed China with a market share of 44% (China accounted for 47%). The average price of processed octopus from China was US$2 higher than products from Vietnam at US$9/kg. The export volume from those 2 countries to Japan was equivalent (nearly 700 tons). However, the export value of China (US$7.2 million) was higher than that of Vietnam with US$6.7 million.

In the first quarter of this year, there were 48 Vietnamese cephalopod companies exporting to Japan with various products such as frozen whole squid, squid sliced cut, frozen fillet squid, frozen cuttlefish,  cuttlefish pine cut, frozen cuttlefish comb cut, processed cuttlefish, sushi squid, breaded octopus ...

Cephalopods imports of Japan, QI/2019

Volume: tonne, value: million USD)

HS code

Products

QI/2018

QI/2019

Variation

Proportion

   

Volume

Value

Volume

Value

Volume

Value

Value

 

Cephalopods - Total

10,512

70.550

11,684

77.576

11.2

10.0

100

160554

Processed cuttle fish and squid

8,670

52.989

10,114

60.711

16.7

14.6

78.3

160555

Processed octupus

1,834

17.490

1,488

15.310

-18.9

-12.5

19.7

030749

Frozen cuttle fish and squid

8

71

82

1.555

941.4

2090.1

2.0

Source: ITC

 

Top 5 processed tuna suppliers to Japan

(Volume: tonne, value: million USD)

Suppliers

 

QI/2018

QI/2019

Variation

Proportion(%)

 

Volume

Value

Volume

Value

Volume

Value

Value

World

8,670

52.989

10,114

60.711

16.7

14.6

100

China

8,106

47.772

9,260

53.960

14.2

13.0

88.9

Thailand

130

2.787

102

2.920

-21.7

4.8

4.8

Peru

127

814

525

2.558

311.7

214.3

4.2

Vietnam

284

1.329

221

1.161

-22.1

-12.6

1.9

Spain

3

72

4

7

14.5

-90.3

1.9

Source: ITC

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