Export of cephalopods from Vietnam slightly decreased

Frozen Squid

Frozen Octopus

Seafood

Vietnam

Published May 23, 2023

Tridge summary

The impact of inflation and the global economic downturn has led to a drop in import demand for cephalopods 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.

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