In 2017, Vietnam's cephalopod exports to the U.S market totaled US$9.7 million, an increase of 94.7% compared to 2016. This was the import market with the highest growth rate behind France and China.
In 2017, Vietnam’s cephalopod exports to the U.S showed good results. While the export value of major items such as shrimp and pangasius to the U.S decreased slightly, exports of cephalopod to this market achieved the impressive growth ( 2-3 digits) in many months.
In 2017, except for January and April, Vietnam’s cephalopod exports to the U.S decreased by 37.9% and 25.5% respectively; exports in the remaining months continuously increased with an increase of over 500% in some month. The figure in December 2017 was 106.5%. Two main groups of products in the export structure to the U.S included frozen squid (HS code 03) and frozen octopus (HS code 03).
In 2017, cephalopod exports to the U.S increased continuously from more than US$1 million in the first quarter to US$3.5 million in the fourth quarter.
Americans tended to consume Vietnam octopus items in the late months of 2017 with a high growth rate of octopus imports compared to squid imports.
According to ITC statistics, in the first 11 months of 2017, the U.S imported cephalopod from 38 countries in the world with the value of US$295.8 million and down 29.2% over the same period in 2016.
In particular, Vietnam was currently the 9th largest suppliers for this market. Vietnam’s cephalopod exports to the U.S increased by 46.5% in value over the same period in 2016.
Currently, Vietnam cephalopod had to strongly compete with the same item from other suppliers in the U.S such as China, India and Indonesia.
|
Cephalopod imports into the U.S by markets (Source: ITC, Thousand US$) |
|||
|
Suppliers |
Jan-Nov 2016 |
Jan-Nov 2017 |
Variation (%) |
|
World |
417,551 |
295,789 |
-29.2 |
|
China |
196,653 |
113,888 |
-42.1 |
|
Spain |
57,530 |
67,457 |
17.3 |
|
Japan |
14,738 |
14,599 |
-0.9 |
|
Thailand |
25,411 |
14,447 |
-43.1 |
|
Indonesia |
13,859 |
10,037 |
-27.6 |
|
India |
23,634 |
12,700 |
-46.3 |
|
Taipei, China |
21,946 |
21,633 |
-1.4 |
|
Vietnam |
3,863 |
5,659 |
46.5 |
|
Korea |
16,130 |
6,754 |
-58.1 |
|
Argentina |
2,726 |
2,957 |
8.5 |
|
Philippines |
11,209 |
4,324 |
-61.4 |
|
Italy |
571 |
1,323 |
131.7 |
|
Portugal |
2,169 |
1,513 |
-30.2 |
|
Cephalopod imports into the U.S by products (Source: ITC, Thousand US$) |
||||
|
HS |
Products |
Jan-Nov 2016 |
Jan-Nov 2017 |
Variation (%) |
|
Total |
417,551 |
295,789 |
-29.2 |
|
|
030749 |
Cuttlefish and squid |
260,558 |
141,792 |
-45.6 |
|
030759 |
Frozen/dried/salted octopus |
89,466 |
68,896 |
-23.0 |
|
160554 |
Processed squid |
40,954 |
57,782 |
41.1 |
|
160555 |
Processed octopus |
24,880 |
26,567 |
6.8 |
|
030751 |
Fresh/live/chilled octopus |
217 |
752 |
246.5 |
|
030741 |
Fresh/live/chilled squid |
1,476 |
- |
-100.0 |
(vasep.com.vn) Through the first quarter of the year, in a context where the shrimp industry still faced many risks, shrimp exporting enterprises still showed efforts and determination in production and business.
(seafood.vasep.com.vn) In the first quarter of this year, Vietnam's shrimp exports reached over 686 million USD, an increase of 14% over the same period in 2023.
Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
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