Through November 2017, Vietnam’s cephalopod exports to the China and Hong Kong reached US$37.8 million, up 145.6% over the same period in 2016. Of that, exports to Hong Kong valued at US$6.3 million, up 25.3% year on year. Shipments to China experienced the highest growth rate among major importing markets of Vietnam cephalopod in the first 11 months of the year.
Vietnam's cephalopod exports to China from the beginning of the year achieved the positive growth. From May to September 2017, Vietnam’s cephalopod exports of to China continued to the 3-digit growth. Notably, in August 2017, exports to this market increased by 400% compared with August 2016. This can be a good signal for Vietnam’s cephalopod enterprises exporting to China this year.
Consumption of cephalopod in China is on the rise because people are more concerned about their health, so they look for healthier foods such as seafood. A rise in the middle class and the number of tourists also increase consumption of squid and octopus in restaurants. In addition, the stable Yuan stimulates the demand of Chinese importers.
According to the International Trade Center (ITC), in the first 8 months of 2017, China's cephalopod imports touched US$84.7 million; down 54.5% over the same period in 2016.
Vietnam was the 20th biggest supplier of cephalopod to China and the 4th largest exporter of fresh/live/chilled squid (HS code 030741) to the market behind South Korea, Japan and Indonesia. Out of top 4 countries exporting live/fresh/chilled squid to China, Vietnam and Indonesia enjoyed the tax rate of 0% while the others were subject to the tax rate of up to 6%.
Vietnam was the 3rd exporter of frozen octopus (HS code 030759) to China behind Japan and Mauritania.
In the first 8 months of 2017, China increased imports of processed squid (HS code 160554), live/fresh/chilled octopus (HS code 030751) and processed octopus (HS code 160555). Of that, imports of fresh/chilled/frozen octopus (HS code 030751) posted the highest rise.
|
Cephalopod imports into China by products (Thousand US$; Source: ITC) |
||||
|
HS |
Products |
Jan-Aug 2016 |
Jan-Aug 2017 |
Variation (%) |
|
Total |
186,082 |
84,730 |
-54.5 |
|
|
160554 |
Processed squid |
8,889 |
63,692 |
616.5 |
|
030749 |
Cuttlefish and squid |
172,018 |
19,847 |
-88.5 |
|
030751 |
Fresh/live/chilled octopus |
1 |
110 |
10,900.0 |
|
160555 |
Processed octopus |
26 |
103 |
296.2 |
|
030741 |
Live/fresh/chilled squid |
81 |
- |
-100.0 |
|
030759 |
Frozen/dried / salted octopus |
5,067 |
978 |
-80.7 |
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.
(seafood.vasep.com.vn) In February 2024, Vietnam pangasius exports to China and Hong Kong decreased by 65% compared to February 2023, reaching 23 million USD.
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