Vietnam's cephalopod exports increased by 40% last year
The export value to top 9 major markets grew significantly compared to 2016. Supplies were up thanks to a rise in capture production and the import volume as well as high demand from main markets, which facilitated Vietnam’s cephalopod exports in 2017.
Squid exports accounted for the largest share of 56.3% of total export value. VASEP says shipments of fresh/live/frozen squid accounted for the highest proportion of 36.2%, followed by dried/salted/fresh/frozen octopus with 36%.
In 2017, Vietnam exported cephalopod to 63 markets. In particular, the total export value to 9 main markets picked up 98.9% of the total export value of Vietnam cephalopod.
Analysts at VASEP say exports to South Korea remained the good growth from the beginning of the year. Vietnam’s cephalopod exports to South Korea in 2917 totaled over US$218 million; up 31.6% over the same period last year. South Korea stayed as the biggest buyer of Vietnam cephalopod, accounting for 35% of Vietnam’s total export value of cephalopod to markets.
Vietnam’s cephalopod sales to Japan in 2017 are estimated at US$148.7 million , up 35.6% from a year before. Japan ranked the second in top leading importers of Vietnam, accounting for 24%. Japan's economy expected to rebound in 2017 and the yen's appreciation has led to a surge in demand for imported seafood, which has facilitated Vietnam's cephalopod exports to the market.
The EU was the third largest buyer Vietnam cephalopod in 2017. Vietnam’s cephalopod exports to the EU in 2017 increased remarkably by 51.6% to over US$106 million. Italy, Spain and France continued to be top three largest importers of Vietnam cephalopod in the EU. Exports to these three markets all recorded the 2-3 digit growth. In 2017, exports to Italy and Spain increased by 35% and 66.8%, respectively while those to France inched up 133.8% year on year.
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