In the structure of exported cephalopod products, squid accounted for 54.6% and octopus accounted for 45.4%. In the first quarter of this year, the export value of squid increased by 40% while octopus increased by 29% compared to the same period in 2021. Import demand for processed cephalopod products tended to increase strongly.
Export value of squid products all increased; in which, dried/grilled squids and fresh/frozen squids increased by 33% and 38% respectively. Notably, the export value of processed squid recorded the strongest increase of 99% compared to the same period last year.
The top 5 largest cephalopod import markets include South Korea, Japan, China & Hongkong, Thailand, the EU, the US, Malaysia, Taiwan, and Israel, accounting for 98.4% of the total export value of Vietnam’s cephalopod.
In the above major markets in QI/2022, exports to China & Hongkong experienced the highest growth of 143%. Exports to Japan increased by 50%, exports to South Korea and to the EU increased by 16% and 47% respectively. However, exports to Thailand fell slightly by 0.4%.
South Korea is the largest import market of Vietnam's cephalopod, accounting for 35% of the total export value. In QI/2022, cephalopod exports to this market reached over 55 million USD, up 16%. In the structure of cephalopod products exported to South Korea, the export value of processed squid recorded the strongest increase of 123%, but processed octopus exports decreased by 7%.
According to the data of the International Trade Center (ITC), in the first two months of this year, South Korea's cephalopod imports reached 127 million USD, a decrease of 12% over the same period last year. Vietnam is South Korea’s second largest supplier of cephalopod, after China.
Japan ranked second in importing cephalopod from Vietnam, accounting for 23% of the total export value. In the first quarter of this year, cephalopod exports to Japan reached 36 million USD, up 50% over the same period last year. In the structure of cephalopod products exported to Japan, the export value of processed octopus increased the most by 151%. However, the exports of dried/grilled squids decreased by 97%.
In the next quarter, cephalopod exports are expected to maintain the growth momentum. However, the lack of raw materials and fishing activities affected by high gasoline prices are still the challenges that businesses have to face in the coming time.
Compiled by Phuong Linh
Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
Regulations on the protection and sustainable development of aquatic resources, Việt Nam's legitimate rights at sea in accordance with international law and the achievements that the country has carved out to remove the European Union’s “yellow card” will be brought closer to local people.
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