It’s forecast that Vietnam’s squid and octopus exports will increase by 22% compared to 2021.
MEKSEA.COM – In the third quarter of 2022, Vietnam’s squid and octopus exports reached nearly 214 million USD, up 53% over the same period in 2021. In the first nine months of 2022, squid and octopus exports reached 557 million USD, up 37% over the same period. In the third quarter of 2022, squid and octopus exports recorded the highest growth rate of 53% compared to the previous 2 quarters (up 35% and 24%, respectively).
The export of squid and octopus in the third quarter of 2022 has many positive signals in all three months of the quarter, especially in August, when it recorded a strong growth of 82%.
For the export structure of these 2 seafood products, squid accounted for 56.4%, while octopus accounted for 43.6%. In the first 9 months of 2022, the export value of squid increased by 49% while octopus increased by 24% over the same period last year.
The export value of processed octopus and live/fresh/frozen octopus increased by 43% and 21%, respectively, over the same period last year.
Currently, the import demand for processed squid and octopus products tends to increase sharply but mainly focuses on products with reasonable cost, easy processing, long shelf life, and easy to cook such as dried squid, dried octopus, frozen octopus, etc.
In the first 9 months of 2022, Vietnam’s squid and octopus products were present in 61 markets, and the proportion of exports to the main markets increased. Korea is still the largest import market of Vietnam’s squid and octopus, accounting for 36% of the total export value. Accumulated in the first 9 months of 2022, the export of squid and octopus to this market reached over 197 million USD, up 19% over the same period.
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By Hayati (Meksea Team)
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