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Cephalopod exports to China were firm
September 09, 2020, 04:56 PM
(seafood.vasep.com.vn) In June 2020, Vietnam's cephalopod exports lifted by 6.5% to over US$ 48 million after decreasing continuously in the previous 3 months. In the first 6 months of 2020, cephalopod exports reached nearly US$ 240 million, down 16.9% over the same period in 2019. The export of Vietnamese cephalopod in the first 6 months of this year was still affected by the Covid-19 epidemic and the limited supply of raw materials for production. China was still Vietnam's importer of cephalopod with the most stable demand in the first 6 months of 2020.

In June 2020, among the main importers, Vietnam's cephalopod exports recorded positive growth in many markets such as South Korea, ASEAN, China, the US, Taiwan, and Israel. Export to Japan and the EU still has not increased. Of the total cephalopod export structure of Vietnam, squid accounted for 55.1%, octopus made up for 44.9%.

South Korea was still the largest importer of Vietnamese cephalopod, accounting for 42.5% of the total export value of this item of Vietnam to markets. Vietnam's cephalopod exports to South Korea jumped by 23.5% in June 2020. However, due to a decrease in the previous months, the export of cephalopod to this market still diminished by 15% in the first 6 months of this year reaching over US$ 102 million.

Japan ranked second in import cephalopod of Vietnam, accounting for 24.4%. Vietnamese cephalopod exports to Japan in the first 6 months of 2020 reached US$ 58.6 million, down 21% compared to the same period in 2019. Vietnam mainly exports to Japan products such as frozen cuttlefish, frozen squid, frozen sushi squid, frozen Geso squid, Sugata frozen squid, Marusaki frozen squid slices, frozen pine cut squid, frozen breaded octopus, frozen octopus surimi, frozen processed octopus…

According to the International Trade Center (ITC), in the first 5 months of 2020, Japan's cephalopod imports reached US$ 146.9 million, down 4.4% compared to the same period in 2019.  Japan imported cephalopod from 11 supplies. China, Vietnam, and Thailand were the three largest suppliers, accounting for 81%, 9.5%, and 4.8% of the total import value of Japanese cephalopod respectively.

Japan imports mainly products such as processed squid (except for CO), processed octopus (except for CO), fresh squid, smoked/frozen/ dried/salted octopus. Processed squid (except for CO) accounted for the highest proportion in the total structure of cephalopod products imported into Japan. In the first five months of 2020, imports of live/fresh squid into Japan soared by 162% to US$ 18.5 million.

Vietnam's cephalopod exports to the EU in the first 6 months of 2020 reached US$ 17.5 million, down 45.7% compared to the same period in 2019. Italy, Germany, and the Netherlands were the largest importers for cephalopod of Vietnam. As of June 2020, cephalopod exports to Italy, Germany, and the Netherlands shrunk by 51%, 28%, and 37%, respectively.

Cephalopod exports to the EU were still affected by the IUU yellow card. Besides, the impact of the Covid-19 epidemic caused restaurants to close resulting in a decline in the demand for squid and octopus consumption in the foodservice sector. Cephalopod exports to the EU in the last months of the year are expected to be positive as when the EVFTA Agreement takes effect from August 1, 2020, processed squid and octopus will enjoy a tax of 0%.

China was the fourth-largest importer of Vietnamese cephalopod, accounting for 7.4% of the total proportion. Cephalopod exports to China in June 2020 soared by 156% to over US$ 4 million. In the first 6 months, cephalopod exports to China reached US$ 17.8 million, up 54% over the same period in 2019. China was the market with the strongest growth rate of cephalopod imports from Vietnam in June and the first 6 months of 2020.

Vietnam's cephalopod exports to China fell in the first two months of 2020, then recovered again in the following month. Since March 2020, the Covid-19 epidemic in China has eased, other countries such as the United States, the EU, and Japan have gradually relaxed measures to quarantine and prevent the disease, therefore China's demand for cephalopod imports has recovered.

China imports mainly from Vietnam products such as frozen whole cuttlefish, frozen squid, frozen Tempura squid, dried squid, frozen cut octopus, frozen whole octopus ...

In the context the Covid-19 epidemic has not been controlled worldwide, the supply of raw materials has decreased. The demand for cephalopod imports of the world and the export of Vietnamese cephalopod is expected to remain to reduce.

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