Export of cephalopods from Vietnam slightly decreased

Published 2023년 5월 23일

Tridge summary

The global economic downturn and inflation have led to a decrease in demand for cephalopod imports, particularly squids and octopuses, from major markets such as South Korea, Japan, and Thailand. This has put pressure on exporters, who already face challenges like high input costs, disrupted trade due to the Russian-Ukrainian conflict, and high gasoline prices. The ongoing yellow card due to IUU fishing also adds to the challenges. In the first quarter of 2023, the exports of these products from Vietnam, a significant exporter, saw a decrease of 12% for squids and 11% for octopuses. Despite these challenges, the export to Japan saw a 4% increase, driven by increasing demand for fast food.

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 downturn has led to a drop in demand for cephalopod imports from major consumer markets around the world. Cephalopod exporters continue to face many challenges in terms of raw materials and high input costs. The Russian-Ukrainian conflict disrupts world trade, and high gasoline prices make it difficult for fishermen to go fishing. In addition, the yellow card due to IUU fishing, which has not been lifted, continues to be a problem for cephalopod exports. In the structure of exported products from cephalopods, the share of squids was 54.4%, octopuses - 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, down from 47 markets in the same period in 2022. The top 10 largest import markets for this product from Vietnam include South Korea, Japan, ...

Source: Fishretail