In April 2016, cephalopod exports by Vietnam to Japan reached US$8 million, equal to the same period of last year. Exports in Jan-Apr 2016 downed slightly 1.6% year on year.
This year, Japan tends to raise importing octopus but reduce buying squid from Vietnam. Imports of squid touched US$12.7 million, down 9% while imports of octopus rose by 6% to touch US$15 million.
In Jan-Apr 2016, Japan surpassed Korea to become the largest consumer of Vietnamese squid, representing 22% of the total exports. While Japan was the second largest market of Vietnamese octopus behind Korea, making up 28% of the total.
According to ITC, in QI/2016, cephalopod imports into Japan reached 19.5 thousand MT, worth by US$127 million, down 14% in volume and 12% in value from QI/2015. In which octopus imports by the country hit 13.4 thousand MT, valued at US$87 million, down 3% and 6% respectively. Imports of squid reached 6 thousand MT, worth by US$40 million, down 31% in volume and 23% in value.
Top 5 largest squid suppliers to Japan included Thailand, China, Morocco, Vietnam and India with the respective proportion of 29%, 28,5%, 12,4%, 10% and 7,5%. The average export price of Thailand squid to Japan was the highest of US$10/kg, the price of Vietnam hit US$7.86/kg. The price of Thailand reported year-on-year rise of 3% while the price of Vietnam down 6%. This may lead to the decline of 9% in squid exports by Vietnam to Japan.
Top 5 largest octopus suppliers to Japan included China (with the market share of 37%), Morocco with 27.5%, Mauritania with 18.4%, Vietnam with 11.2% and Thailand with 2%.
With this trend, Vietnam exporters should develop value added octopus products to boost exporting to Japan.
Written by Le Hang
Compiled by Kim Thu
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