Thanks to Free Trade Agreement between Vietnam and the EU, the export of squid and octopus to the EU markets continues to be improved.
|EXPORT OF SQUID AND OCTOPUS OF VIETNAM IN JANUARY, 2020 (million $US)|
|KOREA||JAPAN||THAILAND||CHINA & HONG KONG||ITALIA|
Export of squid, octopus of Vietnam in January, 2021
Vietnam’s export of squid and octopus in January 2021 increased by 20% over the same period in 2020, reaching nearly $ 44 million, major markets grew strongly such as Australia, Italy, and Portugal, China, etc.
According to the Vietnam Association of Seafood Exporters and Producers (Vasep), this growth is because the Lunar New Year holiday this year took place in February, so the production and export time is more than in January of the previous year.
In the total export structure of squid and octopus of Vietnam, squid accounts for 52%, octopus accounts for 48%. The export value of octopus and squid increased over the same period. Currently, the export of processed squid and octopus (HS 16) both decreased by 29% and 18% over the same period. Dried/ grilled squid (HS 03) is a product with the highest growth rate of 36%, reaching US$ 10 million.
Korea is still Vietnam’s largest import market for squid and octopus, accounting for nearly 40% of the total export value of this item. Vietnam’s export of squid and octopus to South Korea in January continued to increase, but the growth was not high with 7% higher than the same period in 2020, reaching 18 million USD.
According to Vasep, at the beginning of 2021, the Covid-19 epidemic had been controlled, besides, the Lunar New Year holiday this year took place in February, so the export time is more than the same period of last year. Export of squid and octopus to this market is expected to increase in the coming months.
In the Chinese market, after a period of instability due to the Covid-19 pandemic, Vietnam’s squid and octopus exports to this market continued to grow impressively high over the same period, increasing by 224% compared to January/2020, and this is also the market with the highest growth rate in January. China mainly imports Vietnam’s products such as frozen whole cuttlefish and frozen graded squid, frozen tempura squid, dried squid, frozen piece octopus, frozen whole octopus.
Exports of squid and octopus to the EU are also growing. For example, the export of squid and octopus to Portugal is increasing sharply by 430% over the same period; exports to Italy are also increasing to 34%.
Vasep said that, after a period of being affected by the IUU yellow card, together with the impact of the Covid-19 epidemic leading to the demand decreased. However, thanks to the Vietnam-EU Free Trade Agreement, the export of squid and octopus to the EU markets continues to be improved. The EU is currently Vietnam’s third-largest import market.
In addition, the export of squid and octopus to markets that are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is also growing. In particular, Japan, Australia and Malaysia are the largest import markets in this market block.
Japan is currently Vietnam’s second-largest single importer of squid and octopus with nearly US$ 8 million in January, increasing by 21% over the same period in 2020. Vietnam mainly exports to Japan products such as frozen cuttlefish, frozen piece squid, whole frozen instant sushi, frozen sushi squid, frozen squid Geso, frozen squid Sugata, frozen Sushi squid, frozen Marusaki squid, frozen pine cut cuttlefish, frozen breaded octopus, frozen octopus surimi, frozen processed octopus, frozen blanched octopus, frozen boiled octopus.
Vasep expects Vietnam’s squid and octopus exports in the coming time will increase when the Covid-19 epidemic is gradually being controlled worldwide, the supply of raw materials declines, the demand for imported squid, octopus of the world.