Higher Demand for Vietnamese Octopus Results in Price Increase in the 2nd Quarter of 2021

The main export market for Vietnamese octopuses is South Korea. Summer is usually a low season and the exporting quantity was always in the low range in July and August in many years. However, the prices now keep going up because of the material shortage. It is predicted that the prices will be increasing in the next 2 quarters of 2021. Shortage of the material, higher demand for the Vietnamese octopus and the logistics issues combined will contribute to the increasing in the prices of the Vietnamese octopus in future.