Vietnam cephalopod exports reached 660 million USD in 2023

Published 2024년 1월 30일

Tridge summary

Vietnam's cephalopod exports, including squid, cuttlefish, and octopus, saw a decline in 2023, with squid and cuttlefish exports falling by 14% and octopus exports by 12% compared to 2022. South Korea and Japan, the two largest importers of Vietnam’s cephalopod, accounting for 37% and 23% of exports respectively, also saw a decrease in imports by 8% and 11%. Despite a 6% decrease from 2022, China & HK's imports of Vietnam’s cephalopod reached 77 million USD, showing positive growth from August 2023 due to China's ban on seafood imports from Japan and increased year-end demand.

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

Original content

Regarding exported cephalopod products, squid and cuttlefish accounted for 55.4%, the remaining is octopus. Squid and cuttlefish export value reached 365 million USD, down 14% while octopus exports reached 295 million USD, down 12% compared to 2022. Among exported squid products, dried/baked/frozen squid export value (HS code 03) experienced a slighter decrease compared to processed squid products (HS code 16). Korea is still the largest importer of Vietnam’s cephalopod, accounting for 37%. Exports of cephalopod to this market from August 2023 to the end of the year recorded positive growth or only a slight decrease. South Korea increased the import demand for Vietnam’s cephalopod while reducing imports from other suppliers such as Japan and China. In 2023, exports of Vietnamese cephalopod to Korea reached 247 million USD, down 8% compared to 2022. Japan is the second largest importer of Vietnam’s cephalopod, accounting for 23% of Vietnam's total cephalopod exports. Vietnam's ...

Source: Vasep