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Octopus exports to Korea and EU grow
September 24, 2014, 04:32 PM
(vasep.com.vn) As on July 8th 2014, octopus exports reached US$ 307.5 million, up 13.5% year on year.

In the first 8 months of 2014, South Korea, accounted for 35% of total shares, was the largest market for Vietnam octopus, with value of US$ 107.2 million, up 32.8% year on year.  The first half of this year witnessed a reduction proportion of octopus exports to Japan as Vietnam exporters shift their market from Japan to Korea.

Vietnam was now the 2nd  largest octopus exporter to South Korea, as the country  import value increased positively at 8-30% per month. Average import price in Korea varied by US$3.68 -4.15 / kg. Price of octopus exported from Vietnam was higher than the global price by US$ 0.5-1.5/kg compared with Chinese sources. 

In the first 8 months of this year, South Korea increased octopus (HS 030 759) imports by 9-11%. Import demand for octopus in South Korea is forecasted to continue to increase by 5-20% year on year. In order to boost exports to this market, Vietnam enterprises need to find more raw material sources.   

Through August 2014, octopus exports to EU reached US$52.7 million, up 14.3% year on year. Particularly, Italy and Spain were two major import markets with positive growth. Value of exports to Italy increased by 4.4%, while that of  Spain was surprisingly at 128.7% compared to the same period in 2013. It is expected that these import market continues to grow.

Meanwhile, octopus exports to Russia and Australia was not as steady as expected. Low and unstable price, combined with low demand decreases by 30.2% in Russia and 2% in Australia. 





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