South Korea and Japan are the 2 markets that buy the most squid and octopus from Vietnam

Published 2022년 11월 13일

Tridge summary

Vietnam's squid and octopus exports experienced a significant surge in the third quarter of 2022, with a 53% increase compared to the same period in 2021, reaching nearly $214 million. The total exports from January to September amounted to $557 million, a 37% increase, with squid making up 56.4% of the exports and octopus 43.6%. The demand for processed products remains high, with exports to 61 markets led by Japan and China for squid, and South Korea and Japan for octopus. However, the sector faces challenges such as high input costs, the Russia-Ukraine conflict, high fuel prices, and the IUU yellow card. A new circular exempts aquatic animal products imported for export processing from quarantine, which is expected to ease some pressures on businesses, with exports projected to reach $734 million for the year, a 22% increase from 2021.

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

Original content

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's exports of squid and octopus in the third quarter of 2022 reached nearly $214 million, up 53% over the same period in 2021. Accumulated in the first 9 months of 2022, exports of squid and octopus reached USD 557 million, up 37% over the same period. In the third quarter of 2022, squid and octopus exports recorded the highest growth rate of 53% compared to the previous 2 quarters (up 35% and 24% respectively). Also according to VASEP, in the structure of exported squid and octopus products, squid accounted for 56.4%, the rest octopus accounted for 43.6%. In the first 9 months of 2022, the export value of squid increased by 49% while octopus increased by 24% compared to the same period in 2021. Export value of squid products all increased in which dried/baked squid and live/fresh/frozen squid increased by 44% and 47% respectively. Notably, the export value of processed squid ...

Source: Danviet