China increased octopus imports from Vietnam in 2023

Frozen Octopus

Dried Squid

Published Mar 2, 2024

Tridge summary

Vietnam's cephalopod exports to China and Hong Kong in Q4 2023 saw a 5% increase from the previous year, reaching 27 million USD. Squid products were the primary export, making up 86% of total cephalopod exports. Despite a decrease in squid exports by 9%, octopus exports grew by 17%. The export value of live, fresh, and frozen squid increased by 57%, while processed octopus and dried, salted, live, fresh, and frozen octopus saw increases of 30% and 14% respectively. The growth trend in cephalopod exports to China is expected to continue into Q1 2024.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Cephalopod exports to China and Hong Kong in the fourth quarter of 2023 reached 27 million USD, an increase of 5% compared to 2022. After decreasing in the first two quarters of 2023, cephalopod exports to China and Hong Kong, began to recover in the first half of 2023. In the fourth quarter of 2023, cephalopod exports to China only decreased slightly in December and grew by 4% and 13% in October and November, respectively. China's ban on seafood import from Japan, after Japan's nuclear wastewater discharged into the sea, pushed the market increase imports from other sources, including Vietnam. In addition, the demand for cephalopod in China increased in the fourth quarter to serve the consumption needs of the Mid-Autumn Festival and National Day in this country. It is expected that cephalopod exports to China in the first quarter of 2024 will continue to grow well. Squid products continue to be Vietnam's main export product group to China and Hong Kong, accounting for 86%; ...

Source: Vasep