Vietnam: Export of cephalopods to Japan shows some positive signal

Published 2023년 5월 22일

Tridge summary

The global economic recession and inflation have led to a decrease in the import demand of cephalopods, causing challenges for exporters in terms of raw materials and high input costs. Factors such as the Russia-Ukraine conflict and high gasoline prices further disrupt global trade. In the first quarter of 2023, Vietnam, a major cephalopod exporter, experienced a decrease in the value of squid and octopus exports by 12% and 11% respectively, with the number of export markets also decreasing. South Korea remains Vietnam's largest import market for cephalopods, accounting for 36% of the total export value. However, despite a decrease in overall exports to Japan, there are positive signals due to decreasing domestic production and increasing demand for instant, convenient products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The impact of inflation and the global economic recession caused the import demand of cephalopods from major consuming markets around the world to fall. Cephalopods exporters continue to face many difficulties in terms of raw materials and high input costs. The Russia-Ukraine conflict disturbs global trade, and the high price of gasoline makes the cost of fishing trips difficult for fishermen. In addition, the IUU yellow card that has not been removed is still a challenge for cephalopods exports. In the structure of exported cephalopod products, squid accounted for 54.4%, octopus accounted for 45.6%. In the first quarter of 2023, the value of squid exports decreased by 12%, octopus exports decreased by 11% compared to the same period in 2022. In the first quarter of 2023, Vietnam's cephalopod products were exported to 43 markets, a decrease compared to 47 markets of the same period in 2022. The top 10 largest import markets of Vietnam's this product include South Korea, Japan, ...

Source: Vasep