Vietnam’s cephalopod exports to Japan tend to recover

Despite the overall decline in Vietnam's seafood exports, the export of cephalopods experienced a comparatively smaller decrease when compared to other main seafood products. Except for Japan, the export of cephalopods to the main consumer markets witnessed a double-digit decline. However, exports to smaller markets, such as Malaysia, Australia, Taiwan, and the Philippines, demonstrated a positive double-digit growth ranging from 15% to 75%. The decline in exports can be attributed to various factors, including inflation and the global economic recession, which have resulted in reduced consumption demand from the markets. Additionally, enterprises involved in cephalopod exports have encountered challenges in terms of higher raw material prices and unfavorable weather conditions for fishing activities. Moreover, the IUU (Illegal, Unreported, and Unregulated) yellow card has not been lifted, leading to an unstable catch and increased raw material costs. Although raw material prices ...