However, thanks to the positive growth in the first months of the year, the export of cephalopod to this market in the first 9 months of this year still increased by 7.8% to US$ 35.6 million.
Consumption of cephalopod in China is increasing thanks to the fact that local people are look for healthy alternatives like seafood. The middle class and the increasing number of tourists also increase the consumption of cephalopod at restaurants. Besides, stable yuan currency also helps to stimulate the demand of Chinese importers.
Vietnam is the sixth largest cephalopod exporter to China and the fourth largest exporter of fresh and frozen squid (HS code 030741) to this market after Korea, Japan and Indonesia.
Among 4 supliers of the fresh and frozen squid products to China, only Vietnam and Indonesia enjoy a tax rate of 0%, while the other 2 countries have a tax rate of up to 6%. Meanwhile, Vietnam ranked the 23rd in exporting frozen squid (HS code 030749) to China, although the tax rate of Vietnam when exporting this product to China is only equal to 0%.
Vietnam is the 3rd largest country exporting frozen octopus (HS 030759) to China after Japan and Mauritania.
The US trade war with China had made the import tax imposed on American cephalopod products on the Chinese market increased, creating opportunities for cephalopod products of the same type for some main suppliers – including Vietnam.
It is forecasted that export of Vietnamese cephalopod to China in the last months of this year will grow positively as China reduces imports from the US (China accounts for more than 50% of the total US squid exports) and demands for cephalopod China often increases strongly in the last months of the year when the weather is cold, as Chinese consumers often eat hot pot with squid or octopus.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
(seafood.vasep.com.vn) Ca Mau Province has affirmed its position as the "shrimp kingdom" of Vietnam, with the largest area for ecological shrimp farming in the country.
(seafood.vasep.com.vn) According to data from Vietnam Customs, the export value of pangasius in October 2024 reached nearly $202 million, representing a 17% increase year-on-year. Cumulatively, pangasius exports to various markets in the first ten months of 2024 totaled $1.7 billion, marking a 9% growth compared to the same period last year.
(seafood.vasep.com.vn) On the afternoon of November 6th, Vietnam time, U.S. media announced the preliminary vote count showing that Donald Trump won the 2024 U.S. presidential election. His victory is expected to bring significant changes in taxes, trade, investment, and more. As a result, Vietnam's tuna exports will also be affected.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
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