In the first quarter of 2024, the export turnover of squid and octopus was about 136 million USD, a slight decrease of 2% compared to the same period last year.
According to data from the General Department of Customs, by March 15, 2024, the export turnover of squid and octopus reached more than 109 million USD, down 3% over the same period in 2023. South Korea remained Vietnam’s largest export market for squid and octopus with nearly 46 million USD by March 15, 2024, up 15% over the same period last year. This market accounted for 42% of Vietnam’s squid and octopus exports.
Squid and octopus exports decreased slightly by 2% in the first quarter of 2024.
The VASEP said that Japan’s nuclear wastewater discharge reduced South Korea’s need to import seafood from Japan. The country has not issued a ban on seafood imports from Japan but has strictly increased inspections of imports from Japan.
It is expected that Vietnam’s export of squid and octopus to Korea will continue to grow positively in the coming time when China’s ban on importing Japan’s seafood has not been removed.
Japan is the second-largest importer of squid and octopus of Vietnam, accounting for 26%. Exports of squid and octopus to Japan were negative. By March 15, 2024, exports of these items to Japan reached 25 million USD, down 16% over the same period.
China and Hong Kong are Vietnam’s third-largest squid and octopus importers. By March 15, 2024, exports to these markets reached 11 million USD, up 32% over the same period last year.
China imports mainly from Vietnam products such as dried squid, frozen cleaned squid, Tempura breaded squid, frozen cut octopus, frozen cleaned whole octopus…
Previously, in 2023, the average export price of Vietnam’s frozen octopus to China ranged from 2.3-5.3 USD/kg, and the average price of frozen squid was from 1.9-3.6 USD/kg./.