November 30, 2017

Vietnam's cephalopod exports up 55% in January - September

Vietnam's cephalopod exports in the first eight months hit US$402 million, up 55% year-on-year, with nine major markets posting good growths, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.

VASEP said supplies increased thanks to a rise in production and export volume, along with the flexibility of exporters in adjusting the structure of production and markets.

In January-August, shipments of squid still had the largest share, at 59%, of Vietnam's total export value. Out of cephalopod items for exports, sales of fresh/live/frozen squid accounted for the highest proportion, at 39%, followed by dried/salted/fresh/live/frozen octopus, 33%.

Vietnam exported cephalopod to 59 markets, nine markets more than in 2016. Exports to the top nine markets accounted for 99% of Vietnam's cephalopod sales during the eight-month period.

South Korea remained as the leading buyer of Vietnamese cephalopod, which reached $22 million in August (an increase of 34% from August 2016) and $136 million in the eight months through August (up 40% over the same period last year).

Cephalopod sales to Japan, the second-biggest buyer, in August reached $17 million (up 56%) and in the first eight months, $94 million (up 43%).

The EU, the third-biggest importer, bought $73 million worth of Vietnamese cephalopod in January-August (up 94% over the same period last year). Italy, France and Spain remained as the top three leading importing markets of Vietnamese cephalopod in the 28-member bloc. 

Vietnam's cephalopod exports to ASEAN, the country's fourth-biggest market, in the first eight months touched $46 million, up 44% year-on-year. Thailand and Malaysia were the two major buyers of Vietnamese cephalopod in the 10-member Association of Southeast Asian Nations. —Rick Alberto