In 2019, cephalopod exports to South Korea reached more than US$ 230 million, down 14.8% compared to 2018. After continuous growth in the first 4 months of 2019, exports of this item to South Korea slashed from May to the end of 2019.
Decreasing export prices and unstable consumption demand were one of the factors affecting Vietnamese cephalopod exports to South Korea in 2019. The tariff advantage from the Vietnam-Korea Free Trade Agreement (VKFTA) partly helped the export of Vietnamese cephalopod to this market.
In the structure of Vietnamese cephalopod product exports to Korea, octopus still dominated with 75.6%, squid made up for 24.4%. In 2019, only Vietnam's processed squid exports to South Korea lifted by 35.7%, exports of the remaining products all decreased, in which Vietnam's processed octopus exports to South Korea dropped the most by 22.9%. The two groups of dried/smoked squid and live/fresh/ frozen squid went down by 17.3% and 18.7%, respectively, compared to 2018.
South Korea mainly imports cephalopod product from Vietnam such as dried squid, skin, frozen cleaning processing squid, frozen sushi squid, frozen whole octopus, chilled octopus ...
Currently, Vietnam are enjoying a 0% export tax to Soth Korea for live, fresh, frozen octopus products (HS030751 and HS030759). Dried/salt/live/fresh/frozen octupus was also the product that accounts for the highest proportion of total squid and octopus products exports to Korea.
In 2019, South Korea's cephalopod imports reached US$ 345.8 million, down 8.7% compared to 2018. China was the largest supplier of cephalopod to Korea, accounting for 60%. Vietnam ranked third, accounting for 11% of the total import value of South Korea cephalopod. Among the top 5 main cephalopod supplies for South Korea in 2019, only imports from the Philippines increased, imports from other suppliers all decreased, in which imports of cephalopod from Thailand dropped the most by 35%.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
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