Vietnam cephalopod sales were on the rise

In Jan-Jul this year, Vietnam’s exports of cephalopod items were on the upward trend. Specifically, in the period, Vietnam tended to increase shipments of squid products with the growth of 62%. Of that, exports of fresh/live/frozen squid, which was the main export product of Vietnam in Jan-Jul 2017, recorded the highest growth of 89% from a year before. Sales of other processed squid increased by 74%, while those of dried/grilled squid went up 21% year on year.

Vietnam’s octopus exports increased by 40% compared to the first 7 months of 2016. Of that, exports of fresh/live/frozen/dried item climbed by 47%, accounting for 83% of Vietnam’s octopus exports in this period. Meanwhile, exports of processed octopus inched up 14%.

Currently, Vietnam cephalopod was destined to 59 markets, up 9 markets over the same period in 2016. In the first 7 months of this year, shipments to top 9 major importing markets all increased from a year before. Of that, the proportion of exports to South Korea, Japan and ASEAN decreased while that to the EU and China was up from the same period of 2016.

South Korea

Vietnam’s cephalopod exports to South Korea continues the good growth. The figure in the first 7 months of 2017 hit US$115 million, up 41% over the same period last year. South Korea remained its 1st rank in top largest buyers of Vietnam cephalopod, accounting for 34%. This was also the leading importer of Vietnam octopus.

Sales of fresh/frozen octopus ocupied the large proportion in Vietnam's cephalopod shipments to the market, followed by those of dried squid and fresh/frozen squid.

Japan

Japan held as the second largest importer of Vietnam cephalopod as well as the biggest one of Vietnam squid. In Jan-Jul 2017, Vietnam’ cephalopod exports to Japan eyed US$77 million, up 41% and accounted for 23% of the total export value.

Recently, production of raw cephalopod in Japan decreased while Yen exchange rate increased which partly caused Japanese importers to increase imports of the item from Vietnam.

EU

The EU ranked the 3^rd in top leading importers of Vietnam cephalopod. Exports to the market in the first 7 months of 2017 reached US$63 million, up 96% year on year. In particular, in the period, shipments to France and the Netherlands showed the impressive rise at 3-digit level. Of that, France increased imports of Vietnam squid while the Netherlands boosted those of both squid and octopus items in the first 7 months of this year.

Raw frozen squid (HS code 030749) was the main product imported into the Netherlands. The country bought raw cephalopod for processing and re-exporting to other countries in the EU. The demand for the product in the EU countries in the first months of this year was high, which helped Vietnam's cephalopod sales to the Netherlands increased remarkably.