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    Home > Food News > Food Articles > Vietnam's squid and octopus exports resumed in October, increasing by 14%. The shortage of raw materials has become the biggest problem under the epidemic

    Vietnam's squid and octopus exports resumed in October, increasing by 14%. The shortage of raw materials has become the biggest problem under the epidemic

    • Last Update: 2021-12-01
    • Source: Internet
    • Author: User
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    October 2021 Vietnam squid and octopus exports reached $ 66.
    8 million, an increase of 14%
    .
    In the first 10 months of this year, the export value of squid and octopus reached 473.
    8 million US dollars, a year-on-year increase of 4%
    .
    After the plunge in August and September, exports of squid and octopus recovered in October
    .
     
    Vietnam's squid and octopus exports are still affected by the Covid-19 epidemic , and the supply of raw materials for production is limited
    .
    In addition, export activities are also restricted by high ocean freight rates
    .
    South Korea, Thailand, the European Union and the United States are still markets with stable import demand for squid and octopus from Vietnam
    .
    Since August, exports of squid and octopus to China have increased
    .
     
    From the perspective of export product structure, squid exports accounted for 51.
    5%, and octopuses accounted for 48.
    5%
    .
    In the context of the ongoing Covid-19 epidemic, consumer demand still favors squid and octopus products that are reasonably priced, easy to process, and have a long shelf life, and are suitable for household processing and consumption
    .

     
      In the first 10 months of this year, Vietnam’s squid exports fell 1.
    4% year-on-year, while octopus exports increased 10.
    7% year-on-year
    .
    Exports of dried/grilled squid increased by 1.
    7%, while exports of processed squid decreased by 7.
    2%
    .
    Exports of dried octopus/salted octopus/live octopus/fresh octopus/frozen octopus increased by 12.
    5%
    .
    This is also the fastest growing export volume of Vietnamese squid and octopus products
    .
     
      Within 10 months of this year, the top 10 single markets for squid and octopus imported from Vietnam are South Korea, Japan, Thailand, Mainland China and Hong Kong, Italy, the United States, Malaysia, Taiwan, Australia and the Netherlands, each accounting for Vietnamese octopus.
    97% of total exports
    .
     
      South Korea remains the largest import market for Vietnamese squid and octopus, accounting for 41% of total exports
    .
    In October 2021, exports of squid and octopus to South Korea reached US$28.
    8 million, a year-on-year increase of 16%
    .
    In the first 10 months of this year, exports to the Korean market reached 194.
    5 million U.
    S.
    dollars, a year-on-year increase of 3%
    .
     
      The EU's imports of squid and octopus from Vietnam ranked fourth, accounting for 10.
    3% of Vietnam's total squid and octopus exports
    .
    In October this year, squid and octopus exports to the EU reached 6.
    5 million US dollars, an increase of 11%
    .
    As of October this year, the export value of squid and octopus to this market reached 48.
    9 million US dollars, an increase of 27% over the same period last year
    .
    Italy, the Netherlands and Spain are the three largest importers of Vietnamese squid and octopus in the EU
    .
    In the first 10 months of this year, exports of squid and octopus to Italy and Spain increased by 50% and 25% respectively by double digits
    .
     
      It is estimated that in 2021, Vietnam's squid and octopus exports will exceed 590 million U.
    S.
    dollars, an increase of 13% over 2020
    .
    Squid octopus export
     
      Vietnam's squid and octopus exports are still affected by the Covid-19 epidemic , and the supply of raw materials for production is limited
    .
    In addition, export activities are also restricted by high ocean freight rates
    .
    South Korea, Thailand, the European Union and the United States are still markets with stable import demand for squid and octopus from Vietnam
    .
    Since August, exports of squid and octopus to China have increased
    .
    epidemic
     
      From the perspective of export product structure, squid exports accounted for 51.
    5%, and octopuses accounted for 48.
    5%
    .
    In the context of the ongoing Covid-19 epidemic, consumer demand still favors squid and octopus products that are reasonably priced, easy to process, and have a long shelf life, and are suitable for household processing and consumption
    .

     
      In the first 10 months of this year, Vietnam’s squid exports fell 1.
    4% year-on-year, while octopus exports increased 10.
    7% year-on-year
    .
    Exports of dried/grilled squid increased by 1.
    7%, while exports of processed squid decreased by 7.
    2%
    .
    Exports of dried octopus/salted octopus/live octopus/fresh octopus/frozen octopus increased by 12.
    5%
    .
    This is also the fastest growing export volume of Vietnamese squid and octopus products
    .
     
      Within 10 months of this year, the top 10 single markets for squid and octopus imported from Vietnam are South Korea, Japan, Thailand, Mainland China and Hong Kong, Italy, the United States, Malaysia, Taiwan, Australia and the Netherlands, each accounting for Vietnamese octopus.
    97% of total exports
    .
     
      South Korea remains the largest import market for Vietnamese squid and octopus, accounting for 41% of total exports
    .
    In October 2021, exports of squid and octopus to South Korea reached US$28.
    8 million, a year-on-year increase of 16%
    .
    In the first 10 months of this year, exports to the Korean market reached 194.
    5 million U.
    S.
    dollars, a year-on-year increase of 3%
    .
     
      The EU's imports of squid and octopus from Vietnam ranked fourth, accounting for 10.
    3% of Vietnam's total squid and octopus exports
    .
    In October this year, squid and octopus exports to the EU reached 6.
    5 million US dollars, an increase of 11%
    .
    As of October this year, the export value of squid and octopus to this market reached 48.
    9 million US dollars, an increase of 27% over the same period last year
    .
    Italy, the Netherlands and Spain are the three largest importers of Vietnamese squid and octopus in the EU
    .
    In the first 10 months of this year, exports of squid and octopus to Italy and Spain increased by 50% and 25% respectively by double digits
    .
     
      It is estimated that in 2021, Vietnam's squid and octopus exports will exceed 590 million U.
    S.
    dollars, an increase of 13% over 2020
    .
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