VIETNAMESE SQUID EXPORTS TO CHINA SOAR
Vietnamese squid exports to China soar
China is the 5th largest importer for cephalopod of Vietnam, accounting for 7.7% of the proportion of cephalopod exports, according to the Vietnam Association of Seafood Exporters and Producers.
After falling by 45% in the first quarter, Vietnamese cephalopod exports to China recovered from the second quarter to August of 2020. In the first eight months of 2020, Vietnamese cephalopod exports to China reached US$ 26.6 million, up 53% year on year.
China is the market with the best growth rate of cephalopod imports from Vietnam in the first 8 months of 2020.
Cephalopod exports from Vietnam to China sank in the first two months of this year, then rebounded in the following months.
In the structure of Vietnamese cephalopod exported to China, squid accounted for 91%, octopus accounted for only 9%. In the context of the Covid-19 epidemic occurring around the world, the demand for squid, especially dried/grilled squid tends to increase strongly in all import markets and China is no exception. Imports of processed squid, dried/grilled squid, and processed octopus into China from Vietnam increased sharply over the same period in 2019.
China imports mainly from Vietnam products such as frozen cleaned whole cuttlefish, frozen graded squid, tempura breaded squid, dried squid, frozen cut octopus, frozen cleaned whole octopus.