Stability in Vietnam's Squid and Octopus Exports in Q1-24 Amid Decline in Fishball and Surimi Trade

Vietnam's squid and octopus exports remained stable in Q1-24. The export turnover for these products reached USD 138.5 million, reflecting the same period last year. Squid exports accounted for 53% of this total, a slight decrease of 2% year-on-year (YoY), while octopus exports made up 47%, increasing by 2.5% YoY.
However, Vietnam's exports of fishball and surimi saw a decline, reaching just over USD 61 million, a 12% YoY decrease. This drop is due to an abundant supply of raw fish coupled with large inventories, leading to pressure on price reductions.