South Korea has continued to be a major market for Vietnam's cephalopod exports, with steady growth observed in the first half of 2024. The second quarter saw particularly strong performance, with May and June recording double-digit increases.
The sustained demand from South Korea, coupled with reduced imports from other sources like Japan and China due to factors such as Japan's nuclear wastewater discharge and China's import ban on Japanese seafood, has benefited Vietnam's exporters.
Vietnam's octopus exports have been particularly strong, accounting for 71.9% of the total value to South Korea in the first half of the year. The dried/salted/live/fresh/frozen octopus segment saw a notable 18% increase, while the processed octopus group experienced a 15% decline.
South Korea primarily imports frozen octopus, frozen octopus cuts, cleaned frozen whole octopus, skinless dried squid, and frozen squid tubes from Vietnam.
The average export price of octopus to South Korea has been more stable than that of squid. In the second quarter of this year, the average export price of Vietnamese squid to South Korea showed a downward trend.
According to ITC data, South Korea's imports of cephalopod from all countries decreased by 3% to $494 million in the first six months of 2024. Vietnam ranked second in supplying cephalopod to South Korea, after China. China and Vietnam accounted for 46% and 24% of South Korea's total cephalopod imports, respectively.
In the first half of 2024, among the top three suppliers, imports from China and Vietnam increased, while imports from Peru decreased significantly. South Korea's imports of frozen octopus increased, while imports of frozen squid decreased in the first six months of the year.
In 2024, South Korea's seafood imports are expected to rebound as the Korean economy is forecast to recover. The South Korean won is expected to appreciate by the end of 2024.
In South Korea, demand for ready-to-eat, processed, and preserved foods is rapidly increasing. This information may be a positive signal for Vietnam's cephalopod exports to South Korea in 2024.
(vasep.com.vn) Vietnam’s pangasius exports to CPTPP markets reached $264 million in the first eight months of 2026, up 12% year-on-year and accounting for 17% of the nation’s total pangasius export turnover. In August alone, export value reached $34 million, inching up 3%.
(seafood.vasep.com.vn) Ninh Binh Province is entering a peak period of action against illegal, unreported and unregulated (IUU) fishing, focusing on thoroughly addressing violations, closely monitoring fishing vessels at ports and preventing vessels from violating regulations and operating illegally in foreign waters ahead of the European Commission’s (EC) upcoming inspection in 2026.
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(vasep.com.vn) Vietnam’s shrimp exports reached $3.3 billion in the first eight months of 2026, up 12% year on year. However, growth momentum is moderating and market divergece is becoming more pronounced, while the US and EU continue to present significant challenges. The latest insights from the Global shrimp forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers place greater emphasis on quality, product specifications, supply consistency and the ability to meet market-specific demand.
(vasep.com.vn) Vietnam’s pangasius exports continued to grow in August 2026, bringing total export value in the first eight months of the year to US$1.5 billion, up 10% year-on-year. August exports alone reached US$205 million, up 6%. However, market performance has become increasingly divergent, with China and Brazil posting positive growth while the U.S. continued to record a sharp decline.
(vasep.com.vn) Vietnam’s seafood exports reached US$1.14 billion in August 2026, up 6.4% year on year, bringing the total for the first eight months to more than US$8.0 billion, an increase of 11.9%. Monthly export value remained above US$1 billion, but August growth was only around half the rate recorded cumulatively through the first eight months. This indicates that the eight-month result was supported significantly by stronger performance in earlier months, while market conditions are entering a less predictable period.
(seafood.vasep.com.vn) Pangasius is attracting growing interest from Japanese seafood companies as prices of many traditional whitefish species remain high and supply becomes increasingly volatile. Notably, seafood group Kyokuyo has recently continued to feature pangasius among its priority products, highlighting its competitive pricing and stable supply.
(seafood.vasep.com.vn) As Vietnam’s tilapia industry searches for new growth opportunities, venturing into brackish-water aquaculture could unlock a formidable competitive moat. Bypassing the volume-and-price bloodbath against established global heavyweights, Vietnam could differentiate itself through high-quality tilapia products tailored to specific farming conditions and value-added market segments.
(seafood.vasep.com.vn) 2026 is rapidly shaping up to be a formidable stress test for Vietnamese pangasius exports to the United States. While exports to alternative markets maintain a resilient growth trajectory, the U.S market has declined significantly. In the first eight months of the year, pangasius exports to the U.S fell by nearly 14% year-on-year, with August alone recording a decline of more than 50%. The trend shows that difficulties in the U.S. market are not driven solely by weak consumer demand, but also by multiple layers of trade barriers that are intensifying simultaneously, particularly additional import tariffs, anti-dumping duties and growing protectionism for the domestic catfish industry.
(vasep.com.vn) Vietnam’s pangasius exports to Japan are showing positive signals in 2026, indicating that the market is opening up greater opportunities for pangasius products, particularly processed and value-added products. In the first seven months of 2026, Vietnam’s pangasius exports to Japan reached US$31 million, up 20% year-on-year. In July alone, export value reached approximately US$5 million, up 30%.
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