Up 28% in Vietnam cephalopod sales

The supply of raw materials and the demand remained high from the main markets, which facilitated the growth of Vietnam's cephalopod exports in January. However, the growth rate is slower than that of 2017 due to the decline in the export value to the EU from the impact of the yellow card warning.

Squid products remained as the main export items of Vietnam in January 2018, accounting for 54% of the total export value. Out of cephalopod products for exports, shipments of dried/salted/fresh/live/frozen octopus (HS code 03) took up the highest proportion of 34%; followed by fresh/live/frozen squid (HS code 03), accounting for 30%.

The export value of processed octopus (HS code 16) registered the highest increase of 114%; followed by dried/grilled squid (HS code 03) with 97%; dried/salted/live/fresh/frozen octopus (HS code 03) with 28%; with that of live/fresh/frozen squid (HS code 03) was down 8% over the same period in 2017.

In January 2018, Vietnam exported cephalopod to 37 markets. Of that, the export value to top 9 main markets picked up 99% of Vietnam’s total cephalopod export value.

South Korea

In 2017, Vietnam’s cephalopod exports to South Korea reached over US$218 million; up 31.6% over 2016. The figure in January 2018 was over US$19 million, up 27.3% over the same period in 2017. South Korea remained as the leading cephalopod importer of Vietnam, accounting for over 37% of Vietnam’s total export value to markets.

Japan

In 2017, Vietnam’s cephalopod exports to Japan showed the good growth in each month. The total export value to the market in 2017 reached US$148.7 million, up 35.6% from 2016. The figure in January 2018 hit US$12.8 million, up 23%. Japan ranked the second in top biggest buyers of Vietnam cephalopod, accounting for nearly 25%. Japan's economy is on the trend of recovery and the yen has increased; therefore, the demand for imports of the item increases, facilitating Vietnam’s cephalopod exports to this market.

ASEAN

In 2017, Vietnam’s cephalopod exports to ASEAN valued at US$71.5 million, rising by 39%. In January 2018, ASEAN emerged as the 3^rd largest market of Vietnam cephalopod from the 4^th rank in 2017. Vietnam’s cephalopod exports to this market in January this year reached US$7 million, up 105.8% over the same period last year. Thailand and Malaysia are two major importing markets of Vietnam cephalopod in ASEAN. Of that, exports to Thailand took the large share. Exports of the item to Thailand in January 2018 hit US$5.8 million, up nearly 90%.

EU

In January this year, the EU dropped to the 4^th rank from 3^rd rank in 2017. Vietnam’s cephalopod exports to the EU this month dropped by nearly 30% to see US$6.1 million. This was driven by the impact from the EU "yellow card" warning against Vietnam seafood. The country is working hard to improve the situation and move the EU yellow card.

Italy, France and Spain continued to be the three largest importing markets of Vietnam cephalopod in the EU. Exports to France and Spain increased by 33% and 31% respectively while exports to Italy decreased by 45.8%.

China

It can be said that China is the most active importing market of Vietnam seafood in 2017 with the strong growth in all items including cephalopod. In January of this year, Vietnam’s cephalopod exports to China grew by 146.5% to total US$3.6 million.

China held as the 5^th largest importing market of Vietnam cephalopod, accounting for 7% of Vietnam's total cephalopod exports to markets. Chinese people increasingly preferred cephalopod from Vietnam. The demand for this item in China is rising in restaurants and in households. In addition, the increase in tourist arrivals also boosted demand for this item in China.

Online shopping in China is becoming more popular, which also stimulates seafood sales in this market. China expected to continue being an important and potential market of Vietnam’s cephalopod companies in the coming time, when exports to mainstream markets face difficulties.