However, thanks to the good growth in the first half of the year, the total export value of Vietnamese cephalopod to this market increased by 13% compared with the same period in 2017, touching US$130 million. South Korea continued to remain as the largest importing market of Vietnamese cephalopod.
Of that, exports of Vietnamese octopus items to South Korea recorded the highest rise of 15% over the same period last year. And octopus kept as the main export products of Vietnam to South Korea, accounting for more than 72% of total export value. In particular, Vietnam boosted shipments of processed octopus to this market. In addition, exports of live/fresh/frozen squid products were also boosted to the Korean market in the first seven months of this year.
According to ITC, after the decline of imports in 2017, cephalopod imports into South Korea in the first half of 2018 tended to increase. These can be considered as good signs for cephalopod suppliers to the Korean market.
China was the largest exporter of this item to South Korea (53.2%), followed by Peru (31%) and Vietnam (10.9%). In the top 7 main suppliers, South Korea increased imports from China, Peru, Vietnam and Thailand while reducing imports from Chile, the Philippines and Japan. In particular, imports from Vietnam witnessed the highest rise.
Processed squid and fresh/live/chilled octopus were the two key export products to the market, accounting for the highest proportion of total cephalopod imports into South Korea. In the first half of this year, imports of processed squid and processed octopus into the market climbed by 19% and 1.3%, respectively over the same period of 2017. Meanwhile, Imports of frozen/dried/salted octopus and fresh/live/chilled octopus into the country fell by 70% and 28%, respectively.
With the tax rate of 0% for fresh/live/frozen octopus (HS code 030751 and HS code 030759) exporting to South Korea, Vietnam expected to continue to boost shipments of these items to the market in the coming time.
|
CEPHALOPOD IMPORTS INTO SOUTH KOREA |
||||||
|
Products |
Volume (kg) |
Value (Thousand US$) |
||||
|
Jan-Jun 2017 |
Jan-Jun 2018 |
Variation (%) |
Jan-Jun 2017 |
Jan-Jun 2018 |
Variation (%) |
|
|
Processed squid |
12,111,006 |
14,362,897 |
18.6 |
54,409 |
79,400 |
45.9 |
|
Fresh/live/chilled octopus |
5,440,526 |
3,903,957 |
-28.2 |
66,899 |
57,076 |
-14.7 |
|
Processed octopus |
3,544,086 |
3,589,061 |
1.3 |
18,084 |
24,090 |
33.2 |
|
Frozen/smoked salted squid |
720,635 |
582,558 |
-19.2 |
16,146 |
14,935 |
-7.5 |
|
Frozen/dried/salted octopus |
390,669 |
118,945 |
-69.6 |
1,815 |
734 |
-59.6 |
|
Total |
22,206,922 |
22,557,418 |
1.6 |
157,353 |
176,235 |
12.0 |
|
(Source: ITC) |
||||||
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
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.
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