Up in Vietnam cephalopod shipments to EU

Squid continued to be the key export item of Vietnam in the first half of 2018, accounting for 55% of the total export value; while octopus accounted for 45%. Of that, exports of dried/salted/fresh/live/frozen octopus (HS code 03) remained to account for the highest proportion of 36%; followed by fresh/live/frozen squid item (HS code 03), accounting for 30%.

Compared with the same period in 2017, exports of squid products decreased, while those of octopus products increased. The export value of processed octopus (HS code 16) increased by 51%, followed by dried/grilled squid (HS code 03) with 40%. Shipments of live/fresh/frozen squid (HS code 03) fell by 17.5%.

South Korea

In July 2018, Vietnam’s cephalopod exports to South Korea fell by 3% compared with July 2017, reaching US$20 million. However, thanks to the continuous growth in the first months of the year, the total export turnover in the first 7 months of the year reached more than US$23 million, up 13% over the same period in 2017. South Korea continued to be the largest importing market of Viet Nam, accounting for 36.8% of the total export value of Vietnamese cephalopod to markets.

Japan

After the recovery in June, Vietnam’s cephalopod exports to Japan in July decreased by 18%, reaching US$2 million; the figure in the first 7 months of the year amounted to US$80 million, up 3.5%.

Vietnam’s squid exports to Japan decreased by 9% over the same period last year. Meanwhile, exports of octopus products increased by 34%. This year, the proportion of Vietnam’s octopus exports to Japan tended to increase.

Japan continued to rank the second in top buyers of Vietnamese cephalopod, accounting for 22.9%. Recently, the Japanese economy is on the trend of recovery and the yen has increased, which facilitated exports of Vietnamese octopus to the market.

The EU

Vietnam’s cephalopod exports to the EU in July 2018 reached US$7 million, down 41% compared with July 2017. Therefore, the figure in the first seven months of this year was down 27% to hit US$46 million.

This year, exports of Vietnamese octopus to the EU increased by 105%. Meanwhile, exports of squid products to the market fell by 39%.

In July 2018, Vietnam’s cephalopod exports to the three largest importing markets in the bloc, including Italy Spain and France had been on the recovery.

ASEAN

This year, Vietnam’s cephalopod exports to ASEAN in July 2018 decreased by 12.4%, reaching US$6.8 million. However, thanks to the good growth in the previous months, the total export value in the first seven months of this year increased by 20% to nearly US$46 million.

Of that, squid is the main export item of Vietnam to ASEAN. The export value of Vietnamese squid to this market accounted for 97.3% of the total cephalopod sales to the region; that of octopus accounted for 2.7%. Among the items exported to ASEAN, dried/grilled squid products were the most popular in this market.

Thailand held as the large importing market of Vietnamese octopus in ASEAN with the proportion of 75% total cephalopod exports to ASEAN. Vietnam was currently the second largest supplier of cephalopod to Thailand (behind China), making up 25%.

In the coming time, Vietnam’s cephalopod exports forecasted to increase slightly.