In the first months of 2020, Korea was also affected hardly by the Covid-19 epidemic, demand for cephalopod imports of South Korea declined due to the closure of restaurant systems. A shutdown of the hotel and a closed school, and a drop in tourists will also reduce Korea's demand for cephalopod imports.
South Korea remained the largest importer of Vietnamese cephalopod, accounting for 42% of Vietnam's total export value of this commodity to the markets. Vietnamese cephalopod exports to South Korea dived by 6.2% in April 2020 and fell by 22.3% in the first four months of 2020 to reach US$ 63.4 million. In the first four months of this year, cephalopod exports to South Korea rose only by 14% in February, exports in the remaining three months shrunk.
The decrease in export price and demand due to the Covid-19 epidemic is one of the factors affecting Vietnam's cephalopod exports to South Korea in the first four months of 2020. The tariff advantage from the Vietnam-Korea Free Trade Agreement (VKFTA) partly helps to boost Vietnamese cephalopod exports to this market.
In the structure of squid and octopus products of Vietnam exports to South Korea, octopus still dominated by 68.8%, squid accounted for 31.2%. In the first quarter of 2020, in the total export of squid and octopus products of Vietnam to South Korea, only export of dried/baked squid (HS 03) jumped by 19.8%, the export value of the remaining products fell in which the export value of processed octopus (HS 16) dropped the most, with a decrease of over 37%.
South Korea mainly imports cephalopod products from Vietnam such as dried squid, skin, frozen cleaning processing squid, frozen sushi squid, frozen whole octopus, chilled octopus … Vietnamese squid products exports to South Korea have higher prices than that of octopus with the average price ranging from 11-14 USD/kg. The price of Vietnamese octopus exports to South Korea has an average price of US$6- US$6.5/kg.
Currently, Vietnam enjoys a 0% export tax to Korea for fresh/live and frozen octopus products (HS030751 and HS030759). Dried octopus/ salt/live/fresh/frozen accounts for the highest proportion of total squid and octopus products exports to South Korea.
Diseases also cause economic growth decline, lower people's income. Therefore, people will only consume affordable products, limiting the consumption of higher-priced items such as squid and octopus products. Suppliers can focus on selling to online channels, prioritizing frozen, canned, deep-processed products with long shelf life, reducing fresh products due to consumers changing their consumption habits in the context of the disease.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
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
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Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
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Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn