Vietnam's export of squid and octopus increased by more than 20% in September 2020

Published 2020년 10월 26일

Tridge summary

The article provides an overview of Vietnam's squid and octopus export dynamics for the first 9 months of the current year, revealing a shift towards squid with a 55% share in total exports. Despite a decrease in octopus exports, particularly processed octopus, dried or grilled squid saw a significant 28% growth, contributing $72.5 million. Exports to major markets like Korea, ASEAN, EU, and China experienced growth, with South Korea remaining the largest market. However, exports to Japan, the second-largest market, saw an 18% decrease. The EU market shows promising growth, with the potential for further increase due to the EVFTA tax reduction, and China is the fastest-growing market. The export value for squid and octopus is projected to decrease by about 9% in 2020 due to the COVID-19 pandemic's impact on supply and demand.

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

Original content

In the total export structure (export), squid accounts for 55%, octopus accounts for 45%. In the first 9 months of the year, the export value of squid increased while that of octopus decreased. Processed octopus exports fell the most by 27%. Dried / grilled squid was the only commodity with a positive growth of 28% to US $ 72.5 million. Export of other processed squid and raw / fresh / frozen squid decreased by 4% and 9%, respectively, compared to the same period in 2019. Among the 5 main import markets (import), excluding Japan, the export of squid and octopus to other Other markets all increased such as Korea, ASEAN, EU, China. South Korea is still the largest import market for squid and octopus, accounting for nearly 41% of the total value. This item exported to South Korea increased continuously from June, only in September, up 31.2%. Japan ranked second in importing Vietnamese octopus and squid, accounting for 22.3%. In the first 9 months of the year, the export value to ...

Source: tieudung