(vasep.com.vn) Through October 2013, Vietnam exported US$360.5 million of cephalopod, down 14.4 percent year-on-year.
Exports to 3 main markets including South Korea, Japan and EU with 75 percent of total exports saw the decline due to their low demand mainly caused by economic distress.
Exports to EU saw a continuous fall
In the first 10 months of 2013, Vietnam cephalopod exports to EU witnessed a slump. The number of orders from the market sometimes reported the reduction of 50-60 percent year-on-year. During the period, export value of the item to EU posted the deepest dive of 28.2 percent year-on-year in which exports to Italy, Germany and Belgium - main importers among EU – saw year-on-year decline of 18.2, 10.9 and 41 percent, respectively.
Facing strong competitiveness in South Korea
Until October 2013, despite being the largest importer of Vietnam cephalopod, South Korea reported the decline of 9 percent in importing the item from Vietnam. Vietnam’s cephalopod exports to the market in July and August this year rose 4.2-5.6 percent year-on-year. Exports in October surged 24.2 percent from October 2012.
However, Vietnam cephalopod exporters to Korea have faced to strong competitiveness from Thailand and Indonesia who can meet Korean importers’ demand with reasonable price and different sizes.
Low demand from Japan
Although the export price to Japan was higher than that paid by other importers, through October 2013, export value of Vietnam cephalopod to Japan reduced by 7.9 – 54.3 percent year-on-year due to its low demand.