Vietnam’s squid and octopus to Korean market significantly increased in 2021
MEKSEA.COM – In the fourth quarter of 2021, Vietnam’s squid and octopus exports to the Korean market recovered strongly, bringing in an export turnover of 82.1 million USD, up 20% over the same period in 2020.
Vietnam’s squid and octopus exports to the Korean market reached 247.9 million USD, up 7% compared to 2020. Thanks to 0% tariff preference, Vietnamese exporters have pushed to export fresh/live and frozen octopus to the Korean market.
Vietnam’s cephalopods exports to Vietnam reached 247.9 million USD in 2021. (photo: Internet)
Frozen cut octopus, frozen whole cleaned octopus, frozen processed octopus, dried skinless squid, frozen cleaned squid, squid, frozen sushi, frozen whole cleaned cuttlefish, frozen cleaned cuttlefish fillet, matsukasa, etc,… Frozen octopus is the most imported product to Korea, accounting for 39% of the total import value of squid and octopus products into this market.
According to kita.org data, Vietnam is the largest supplier of frozen octopus (HS 030752) to Korea, accounting for 43% of the market share, followed by frozen squid (HS 030743) accounting for 16% of the market share.
Read more: Vietnamese seafood enterprises boost production in the last months of the year
Vietnam and China are Korea’s largest sources of cephalopods. Meanwhile, in 2021, Korea will reduce imports of these items from China and increase imports from Vietnam.
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By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
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