In the last 5 years (2011-2016), cephalopod imports into China reached the highest in 2014. From 2014 up to now, imports of this product into China were on the downward trend.
In the first half of 2017, China's cephalopod imports reached US$46.7 million; down 65.4% over the same period in 2016. Peru, South Korea, the U.S and Chile were top biggest suppliers to China.
Vietnam stayed as the 20th largest exporter of cephalopod to China and the 4th biggest supplier of live/fresh/chilled squid (HS code 030741) to the market behind South Korea, Japan and Indonesia. Out of top 4 exporters of live/fresh/chilled squid to China, only Vietnam and Indonesia are enjoyed the tax rate of 0% while the others are subject to the tax rate of 6%.
Vietnam also ranked the 3rd supplier of frozen octopus (HS code 030759) to China behind Japan and Mauritania.
In the first six months of 2017, China increased imports of processed squid (HS code 160554; except for smocked item); live/fresh/chilled octopus (HS code 030751); processed octopus (HS code 160555); in which imports of fresh/chilled/frozen octopus (HS code 030751) showed the highest increase of 117.863% over the same period in 2016.
China was the 5th largest buyer of Vietnam cephalopod; accounting for 7.3% of Vietnam’s cephalopod exports to markets.
In 2016, out of cephalopod items exported to China; squid shipments accounted for the main proportion of 86%. Of that, China preferred dried/frozen items (93.2%) than processed products (6.8%).
In 2017, Vietnam’s cephalopod exports to this market showed signs of recovery. Up to 15th Sep 2017, Vietnam’s cephalopod exports to the country hit US$31.3 million; up 180.4% over the same period in 2016.
In the coming time, demand for Vietnam cephalopod in China expected to rise.
|
Cephalopod imports into China (Source: ITC) |
||||||
|
Products |
Volume (kg) |
Value (Thousand US$) |
||||
|
Jan-Jun 2016 |
Jan-Jun 2017 |
Variation (%) |
Jan-Jun 2016 |
Jan-Jun 2017 |
Variation (%) |
|
|
Total |
69,305,629 |
14,752,230 |
-78.7 |
135,046 |
46,688 |
-65.4 |
|
Processed squid (except for smocked items) (HS code 160554) |
4,208,830 |
11,343,197 |
169.5 |
7,391 |
33,686 |
355.8 |
|
Frozen squid (HS code 030749) |
64,116,674 |
3,172,204 |
-95.1 |
124,037 |
11,965 |
-90.4 |
|
Frozen/dried/salted octopus (HS code 030759) |
974,234 |
214,630 |
-78.0 |
3,540 |
899 |
-74.6 |
|
Live/fresh/chilled octopus (HS code 030751) |
11 |
12,976 |
117,863.6 |
- |
91 |
|
|
Live/fresh/chilled squid (HS code 030741) |
3,040 |
- |
-100.0 |
59 |
- |
-100.0 |
|
Processed octopus (HS code 160555) |
2,840 |
9,223 |
224.8 |
19 |
47 |
147.4 |
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VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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