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
(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.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn