VIETNAM SQUID AND OCTOPUS EXPORTS RISE
Vietnam squid and octopus exports rise. According to data of Vietnam Customs, Vietnam’s exports of squid and octopus as of November 2021 reached over US$543 million, up 7% over the same period in 2020. Export of squid and octopus in December 2021 was estimated at over 60 million USD, up 10%. Accordingly, for the whole year of 2021, exports have witnessed over 600 million USD, up 7% compared to 2020.
Regarding the structure of export products, the export value of squid and cuttlefish accounted for 52%, while octopus exports accounted for 48%. In the context of the prolonged Covid-19 epidemic, the market’s demand is still leaning towards squid and octopus products that are reasonably priced, easy to process, have a long shelf life, and are suitable for processing and consumption. consumed at home such as: dried squid, dried octopus, frozen octopus…
The top 10 single markets that imported the most cephalopods from Vietnam in the first 11 months of this year were Korea, Japan, Thailand, China and Hong Kong, Italy, the US, Malaysia, Taiwan, respectively. Australia and the Netherlands account for 97% of Vietnam’s total exports.
Korea is still Vietnam’s largest cephalopod import market, accounting for 41% of the total export value. In November 2021, the export of squid and octopus to South Korea reached 25.3 million USD, up 22% over the same period in 2020. Accumulated in the first 11 months of 2021, the export of this item to the Korean market reached 219, 8 million USD, up 5% over the same period.
Japan ranked second, importing US$12.3 million of cephalopod molluscs from Vietnam in November 2021, up 19%. Accumulated in the first 11 months of 2021, exports to this market reached US$101.4 million, down 8% over the same period in 2020.
In November 2021, besides Korea and Japan, Vietnam’s squid and octopus exports to Thailand, EU, China, USA, Taiwan and Israel were all higher than in the same period in 2020.