Vietnam’s squid and octopus increased by 35% in the first quarter of 2022
MEKSEA.COM – According to customs data, Vietnam’s squid and octopus exports in the first quarter of 2022 reached over 156 million USD, up 35% over the same period last year. With this positive result, it is forecasted that Vietnam’s squid and octopus exports will maintain high growth momentum in the coming time.
In the first quarter of 2022, Vietnam’s squid increased by 40% YOY. (photo: Internet)
Specifically, the export revenue of squid and octopus accounted for 54.6%, and the rest of octopus accounted for 45.5%. In the first quarter of 2022, Vietnam’s squid increased by 40%, and octopus increased by 29% over the same period in 2021. Import demand for processed squid and octopus products tends to increase strongly in the first quarter of the year.
Export value of squid products increased in which dried/baked squid and live/fresh/frozen squid increased by 33% and 38% respectively. Notably, the export value of processed squid increased the most by 99% over the same period last year.
The largest import markets of squid and octopus include South Korea, Japan, China and Hongkong, Thailand, the EU, the US, Malaysia, Taiwan, and Israel, accounting for 98.4% of the total export value of squid and octopus. Vietnamese octopus.
In the first quarter of 2022, Vietnam’s octopus increased by 29% YOY. (photo: Meksea Team)
In which, the first quarter of 2022, the export of squid and octopus to China and Hong Kong markets had the strongest growth of 143%. Exports to Japan increased by 50%, and exports to Korea and the EU increased by 16% and 47% respectively, however, exports to Thailand decreased slightly by 0.4%.
Currently, Korea is the largest import market of Vietnam’s squid and octopus, accounting for 35% of the total export value. In the first quarter of 2022, Vietnam’s squid and octopus exports to this market reached over 55 million USD, up 16%. In the structure of products exported to Korea, the export value of processed squid increased the best by 123%, however, exports of processed octopus decreased by 7%.
Japan ranks second in importing Vietnam’s squid and octopus, accounting for 23% of total export value. In the first quarter of 2022, the export of these items to Japan reached 36 million USD, up 50% over the same period last year. Export revenue of octopus exported to Japan increased the most by 151%, however, exports of dried/baked squid decreased by 97%.
The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that squid and octopus exports in the next quarter are expected to maintain their growth momentum. However, lack of raw materials, crops were affected due to high gasoline prices, etc., which became a major challenge faced by enterprises.
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By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
(Refer: thuysanvietnam.com.vn)
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