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) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
(seafood.vasep.com.vn) Ca Mau Province has affirmed its position as the "shrimp kingdom" of Vietnam, with the largest area for ecological shrimp farming in the country.
(seafood.vasep.com.vn) According to data from Vietnam Customs, the export value of pangasius in October 2024 reached nearly $202 million, representing a 17% increase year-on-year. Cumulatively, pangasius exports to various markets in the first ten months of 2024 totaled $1.7 billion, marking a 9% growth compared to the same period last year.
(seafood.vasep.com.vn) On the afternoon of November 6th, Vietnam time, U.S. media announced the preliminary vote count showing that Donald Trump won the 2024 U.S. presidential election. His victory is expected to bring significant changes in taxes, trade, investment, and more. As a result, Vietnam's tuna exports will also be affected.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
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