Squid and the Octopus are export stability from Vietnam to China

In June 2020, exporting squid, the octopus of Vietnam increased by 6.5% on 48 million USD after continuous reduced in 3 months ago.  In the first 6 months of this year, exported squid, the octopus reached 240 million USD, decreased 16.9% compared with the same period.

Exporting squid,  the octopus of Vietnam in the first 6 months of this year still impacted by the pandemic, and the material supply to produce is limited. China still is the market that imports squid, the octopus of Vietnam with the most stable demand in the first 6 months of this year.

In June 2020, one of the main import markets, exporting squid, the octopus of Vietnam recorded positive growth at many markets such as Korea, the ASEAN, China, America, Taiwan, Isreal. Exporting to Japan and the EU has not increased yet.  In the total structure of squid and the octopus to the export of Vietnam, squid accounting for 55.1%, the octopus accounting for 44.9%.

Korea is still the largest import market of Vietnamese squid and octopus, accounting for 42.5% of the total export value of this product of Vietnam to markets. Exporting squid, the octopus of Vietnam to Korea increase 23.5% in June 2020, however, because of reducing some months ago so export squid, and the octopus to this market still decreased by 15% in 6 months of this year reached over 102 million USD.

Japan ranked second in importing cuttlefish and octopus of Vietnam, accounting for 24.4%. Vietnam’s squid and octopus exports to Japan in the first 6 months of 2020 reached US $ 58.6 million, down 21% over the same period in 2019. Vietnam mainly exports to Japan many products such as frozen cuttlefish, frozen cut squid, whole squid cleansing froze instant sushi, Geso frozen squid, Sugata frozen squid, Sushi frozen squid, Marusaki frozen squid slice, frozen squid cut to pine cones, frozen breaded octopus, Surimi frozen octopus,  processed frozen octopus, frozen boiled octopus …

According to the World Trade Center (ITC), in the first 5 months of this year, Japan’s squid and octopus imports reached US $ 146.9 million, down 4.4% from the same period in 2019. Japan imported squid, octopus from 11 supplies. China, Vietnam, and Thailand are the three largest suppliers, accounting for 81%, 9.5%, and 4.8% of the total import value of Japanese squid and octopus.

Japan imports mainly products such as the processed octopus (except CO), fresh squid, the smoked octopus/ dried/ pickled brine with saltwater. The processed squid (except CO) is the product accounting for the largest proportion of the total structure of squid and octopus products imported into Japan. In the first 5 months of this year, imported fresh squid of Japan was the strongest increase of 162% to 18.5 million USD.

Exporting squid, the octopus from Vietnam to the EU in the first 6 months of this year reached 17.5 million USD, decreased 45.7% compared with the same period of 2019, Italy, Germany, and the Netherlands are the largest import market for squid and octopus of Vietnam. As of June this year, exporting squid and octopus to Italy, Germany, and the Netherlands decreased by 51%, 28%, and 37% respectively.

Exporting squid, the octopus to the EU still impacted of IUU yellow card, plus the impact of the epidemic that caused restaurants to close, the demand for squid and octopus in the foodservice sector decreased. Exporting squid, the octopus to the EU in some months at the end of the year expected to be improved when the EVFTA Agreement comes into effect from August 1, 2020, processed squid and octopus will enjoy 0% tax.

China is the fourth largest import market of Vietnam squid and octopus, accounting for 7.4%. Exporting squid, the octopus to China in June 2020 increased 156% reached over 4 million USD. In the first 6 months of this year, exported squid, the octopus to China reached 17.8 million USD, increased 54% compared with the same period of 2019. China is the market with the strongest growth rate of importing squid and octopus from Vietnam in June and the first 6 months of this year.

Exporting squid, the octopus from Vietnam to China increased in the first 2 months of this year and then rebounded in the following month. From March of this year, the epidemic in China was less stressful, along with countries such as the US, EU, and Japan, gradually easing isolation measures to prevent and control the epidemic, thus the demand for Chinese squid and octopus has recovered.

China mainly imports from Vietnam some products such as frozen whole cuttlefish, frozen sorted squid, Tempura breaded frozen squid, dried squid, cut octopus frozen, frozen whole octopus…

In the pandemic context has not yet been controlled worldwide, the material supply reduced, the world’s import demand for squid and octopus and Vietnam’s squid and octopus exports is expected to decline.

Kim Thu/vasep.com.vn

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