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EXPORT OF SQUID, CUTTLEFISH TO MAJOR MARKET INCREASES

In August 2020, Vietnam's export of squid and octopus increased 22% to reach 53.7 million USD. In the first 8 months of this year, the export of squid and octopus reached nearly 345 million USD, down 10.5% over the same period last year.
In August this year, except for Japan, the export of squid and octopus to most major import markets increased such as Korea, ASEAN, EU, China, the US, Taiwan, and Israel. China is still the import market for Vietnamese octopus and squid with the most stable demand in the first 8 months of this year. Export of squid and octopus to the EU increased for the first time in August, since March this year. Export of squid and octopus in Vietnam in the first 8 months of this year is still affected by Covid-19, so the export value in 8 months has decreased.

In the total structure of Vietnam's exported squid, octopus, squid accounted for 55.2%, octopus accounted for 44.8%. In the first 8 months of this year, the export value of octopus decreased sharply than the export value of squid. The export of processed octopus (HS 16) dropped the most by 28%. Dried / grilled squid (HS 03) was the only commodity with a positive growth of 23% to US $ 79.3 million. Export of other processed squid (HS 16) and raw / fresh / frozen squid (HS03) decreased by 4% and 11% respectively over the same period in 2019.

South Korea is still the largest import market for Vietnamese octopus and squid, accounting for nearly 42% of the total export value of this item of Vietnam to markets. Vietnam's export of squid and octopus to South Korea has increased continuously in 3 months, 6.7 and 8. August this year, the export of this item to Korea increased by 30.8% to 20.7 million USD. decreased in the previous months, so the export of squid and octopus to this market still decreased by 6.3% in the first 8 months of this year, reaching 143.5 million USD.

The decrease in export prices and demand for consumption due to the Covid-19 epidemic is one of the factors affecting the export of Vietnamese squid and octopus to Korea in the first eight months of this year. After the first quarter of this year, the Covid-19 translation in Korea was less stressful, so the export of squid and octopus to this market avoids a deep decline and is showing signs of increase in recent months.

Japan ranked second in importing Vietnamese octopus and squid, accounting for 23%. Export of squid and octopus from Vietnam to Japan in the first 8 months of 2020 reached nearly 79.5 million USD, down 19% over the same period in 2019. Export of this item to Japan decreased continuously from May to August this year. Vietnam mainly exports to Japan products such as frozen cuttlefish, frozen cuttlefish, whole squid cleaning frozen instant sushi, frozen squid Geso, frozen squid Sugata, squid frozen Sushi, frozen Marusaki squid, frozen pine cuttlefish, frozen breaded octopus, frozen octopus surimi, frozen processed octopus, frozen blanched octopus, cut boiled octopus Frozen…

The export of squid and octopus to the EU from March to July this year continued to decline sharply due to the impact of the IUU yellow card, plus the impact of the Covid-19 epidemic, which reduced demand. However, in August 2020, the export of squid and octopus to this market increased again by 10% to 5.8 million USD. Notably, exports to France increased by over 101%, reaching $ 0.7 million. The EVFTA Agreement, effective from August 1, 2020, has brought tax incentives for Vietnam's squid and octopus exports to the EU. Export of squid and octopus to the EU in the last months of the year is expected to be improved.

China is the 5th largest import market for squid and octopus in Vietnam, accounting for 7.7% of the proportion. Export of squid and octopus to China in August 2020 increased by 28.4% to 4.5 million USD. In the first 8 months of the year, the export of squid and octopus to China reached $ 26.6 million, up 52.9% over the same period in 2019. China is the market with the best growth rate in importing squid and octopus from Vietnam in the first 8 months of this year.

China imports mainly from Vietnam products such as frozen cleaned whole cuttlefish, frozen graded squid, tempura squid, dried squid, frozen cut octopus, whole octopus. clean frozen ...

In the context of the Covid-19 epidemic which has not yet been controlled worldwide, the supply of raw materials has decreased, the demand for import of squid and octopus of the world and Vietnam's export of squid and octopus is expected to remain. reduction. It is expected that the export of squid and octopus in Vietnam in 2020 will decrease by 10%.

Source: Kim Thu - vasep.com.vn