Vietnamese cephalopod exports hiked by 20%

In September this year, in the top 5 main importers, excluding Japan, the export of cephalopod to the remaining markets rose such as Korea, ASEAN, EU, China. China was still the largest importer for Vietnamese cephalopod with the most stable demand in the first 9 months of 2020. Export of cephalopod to the EU continued to go up in September. Vietnamese cephalopod exports in the first 9 months of this year were still affected by the Covid-19 epidemic, so the export value in 9 months still declined.

In the total structure of Vietnamese cephalopod exports, squid accounts for 55%, octopus made up 45%. In the first 9 months of 2020, the export value of squid picked up while that of octopus slashed. The export of processed octopus (HS 16) dropped the most by 27%. Dried/baked squid (HS 03) was the only commodity with a positive growth of 28% to US$72.5 million. Export of other processed squid (HS 16) and live/fresh/frozen squid (HS03) declined by 4% and 9% respectively over the same period in 2019.

South Korea was still the largest importer for Vietnamese octopus and squid, accounting for nearly 41% of the total export value of this item of Vietnam to markets. Vietnamese cephalopod to South Korea has increased continuously from June to September this year. In September, the export of this item to South Korea surged by 31.2% to US$20.2 million, yet due to the decrease in previous months, the export of cephalopod to this market still shrunk by 2.9% in 9 the first month of this year reached US$163.8 million.

The decrease in export price and demand due to Covid-19 epidemic was one of the factors affecting the export of Vietnamese octopus and squid to South Korea in the first nine months of this year. Vietnamese cephalopod exports to the Korean market has been showing signs of an increase in recent months.

Japan ranked second in Vietnamese cephalopod imports, accounting for 22.3%. Export of squid and octopus from Vietnam to Japan in the first 9 months of 2020 reached nearly US$88.5 million, down 18% over the same period in 2019. Export of this item to Japan decreased continuously from May to September 2020.

Vietnam mainly exports to Japan products such as frozen cuttlefish, frozen cut cuttlefish,frozen cleaned whole squid (instant sushi), frozen squid Geso, frozen squid Sugata, squid Frozen Sushi ...

The export of squid and octopus to the EU from March to July this year continued to decline sharply due to the impact of the IUU yellow card warning, plus the impact of the Covid-19 epidemic, which reduced demand. Nevertheless, in August 2020, the export of squid and octopus to this market showed signs of recovery and continued to maintain positive growth in September 2020. In September this year, the export of squid and octopus to the EU market reached US$4.6 million, up nearly 6% compared to September in 2019. Notably, exports to the Netherlands went up by nearly 263%, to Germany by 66% in September 2020.

In August and September 2020, the export of squid and octopus to the EU increased. This could be a good signal with the hope that the export to this market will increase in the coming months when some frozen and processed products will be enjoyed the tax reduction of 0% under EVFTA.

China was the 5th largest importer for Vietnamese cephalopod, accounting for 7.8% of the proportion. Export of squid and octopus to China in September 2020 increased by 31% to US$4.2 million. In the first 9 months of the year, the export of squid and octopus to China reached US$30.9 million, up 49.5% over the same period in 2019. China is the market with the best growth rate in import of squid and octopus from Vietnam in the first 9 months of this year.

China imports mainly from Vietnam products such as frozen cleaned whole cuttlefish, frozen graded squid, tempura squid, dried squid, frozen cut octopus, frozen cleaned whole squid ...

In the context of the Covid-19 epidemic which has not yet been controlled worldwide, the supply of raw materials has decreased, the demand for cephalopod imports of the world, and the export of squid and octopus of Vietnam is expected reduction. It is projected that the export of Vietnamese cephalopod in 2020 will reach about US$523 million, down about 9% compared to 2019.