April 26, 2012
Vietnam's new seafood market is Canada
Vietnam's ninth largest seafood importer now is Canada, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
It is also a familiar market for Vietnam's cuttlefish and octopus products.
In 2011, Vietnam earned US$913,000 from cuttlefish and octopus export to Canada, but the figure was over US$440,000 in the first quarter of this year, a surge of 600% over the same period last year.
Seafood experts said that the surge will open up more opportunities for Vietnamese cuttlefish and octopus exporters in future.
According to VASEP, Canada is a pleasant and open market for Vietnamese seafood though its orders are smaller than those of the US. However, Vietnamese cuttlefish and octopus exporters have to compete with many rivals, including China, Thailand, India and Peru. To penetrate the Canadian market, local exporters are advised to study market demand and improve product quality to sharpen their competitive edge.