In 2017, the export value of Vietnamese cephalopod to Korea reached over US$218 million, up by 32% compared to 2016. As of October this year, Vietnam's export of this product to Korea still increased by 18.2%, reaching nearly US$211 million.
In the first ten months of this year, cephalopod exports to Korea only decreased slightly by 3% in July, while the remaining months increased positively compared to the same period last year. This is a good result in the context of declining cephalopod exports to EU due to "IUU yellow card". Currently, with the export tax to Korea is 0% for fresh / live and frozen octopus products (HS030751 and HS030759), Vietnam can boost exports of these 2 products to Korea. So if there is good supply, Vietnam will have the opportunity to increase market share.
Fresh/frozen octopus is the most exported product in Vietnam's molluscs structure exported to Korea, the second dominant product is dried squid, the third most exported product to Korea is fresh/frozen squid.
According to ITC, in the first 10 months of this year, Korea imported squid and octopus from 9 sources. After the import plummeted in 2017, importing cephalopod into Korea by October this year increased by 26% compared to the same period in 2017, reaching over US$321 million. This can be considered a good signal cephalopod suppliers for the Korean market.
China is the largest supply of this item to Korea (accounting for 55% market share), followed by Peru (29%), Vietnam ranked third with 11%. Korea increased imports from all major supply sources, while imports from Peru increased the most by 51%.
In the first 10 months of this year, in the structure of imported cephalopod products, only frozen / dried / salted / salted octopus (HS code 030759) decreased by 59%. The import value of the remaining products increased compared to the same period last year, in which the value of processed squid (HS 160554) increased the most by 49%.
(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.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
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