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) 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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