Squid and octopus exports from Vietnam fell in July as shipments to several major markets remain lower than usual due to the coronavirus, according to data released Friday, 28 August by the Vietnam Association of Seafood Exporters and Producers (VASEP).
In the month, Vietnam exported squid and octopus worth USD 51.3 million (EUR 43.4 million), down 3.2 percent year-on-year. Squid sales accounted for 55 percent of that total, with octopus holding the remainder.
In the first seven months of 2020, Vietnam’s squid and octopus exports shrank 14.7 percent by value to nearly USD 291.2 million (EUR 246.3 million) due to the impact of the COVID-19 outbreak in many major markets, and a shortage of material for processing.
The value of exports to South Korea, the biggest buyer of squid and octopus from Vietnam in July, surged 20.4 percent year-on-year, VASEP said, without providing a figure.
However, Vietnam’s total sales value to this market still dropped 10.6 percent year-on-year to USD 123 million (EUR 104 million) between January and July of 2020. Octopus sales to South Korea accounted for 70 percent of the total export value in the month, with squid making up the remainder.
Japan, the number-two destination for squid and octopus from Vietnam in July, reduced its imports in July, with the value total dropping 21 percent year-on-year in the first seven months to USD 69 million (EUR 58.4 million).
The yellow card that the European Commission has imposed on Vietnam since 2017, and lower demand in the E.U. due to the pandemic, led to lower exports of squid and octopus from Vietnam in July and the first seven months. In total, Vietnam exported squid and octopus worth over USD 22 million (EUR 18.6 million) to the E.U.between the beginning of the year through July, down 44 percent from a year ago. VASEP said it expects the exports to the bloc will increase during year-end months as the import tax for the processed squid and octopus from Vietnam has been abolished since the European Union-Vietnam Free Trade Agreement (EVFTA) took effect 1 August.
Meanwhile, the value of the exports to China, the fifth-largest destination for squid and octopus from Vietnam, soared 84 percent year-on-year to USD 4.3 million (EUR 3.6 million). Vietnam’s China sales have gone up 59 percent in the first seven months of 2020 compared to 2019, reaching USD 22 million (EUR 18.6 million).
Photo courtesy of Al.geba/Shutterstock
