In January 2022, Vietnam’s squid and octopus exports increased sharply
MEKSEA.COM – According to Customs data, in the first month of 2022, Vietnam’s squid and octopus exports reached 63.3 million USD, up 45% year on year.
The top largest import markets of squid and octopus from Vietnam include Korea, Japan, China & HongKong, EU, Thailand, USA, Israel, and Taiwan account for 98% of export value.
In which, exports to China & Hong Kong markets grew the most by 176%. Exports to the EU increased by 90%, specialty exports to Spain and France increased by 3 figures, 562% and 346% respectively over the same period last year.
Korea is the largest import market of Vietnam’s squid and octopus, accounting for 33% of Vietnam’s export value. In January 2022, squid and octopus exported to this market reached over 28 million USD, up 18% over the same period last year. Japan ranked second, accounting for 23%, equivalent to USD 14.2 million of squid and octopus from Vietnam in the first month of this year, up 55%.
In the first month of 2022, Vietnam’s squid exports accounted for 56.4% and octopus accounted for 43.6%. Of all Vietnam’s exported squid and octopus products, dried/salted/live/fresh/frozen octopus (HS03 code) has the most export value. Besides, the export of other processed squid (HS 16) recorded a strong growth rate of 160% over the same period in 2021.
Going back to 2021, Vietnam’s squid and octopus exports reached 608 million USD, up 6.8%. In which, squid exports accounted for 52%, equivalent to 315 million USD, up 3%; Octopus exports accounted for 48%, reaching 293 million USD, up nearly 15%.
Fresh and frozen octopus (HS 03) accounts for 86% of total octopus exports. For squid, fresh/frozen/dried products accounted for 93%.
Korea, Japan, Thailand, China and Italy are the 5 largest import markets of Vietnam’s squid and octopus in 202, accounting for total of 76% of exports. Exports to most markets have grown compared to 2020
South Korea and Japan are the two markets that account for the dominant proportion of Vietnam’s octopus exports, of which South Korea accounted for 68%, and Japan accounted for 18%. Next are the US, Italy and Russia. Octopus exports to all these markets increased in the past year, specialty, exported to the US most, 135%
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By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
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