Agriculture & Food

According to Huacheng Import and Export Data Observation report, in the first eight months of 2022, the export value of squid and octopus in Vietnam reached 489 million US dollars, an increase of 36% over the same period in 2021. According to the import and export data, the export value of squid accounted for 56.4%, reaching 276 million US dollars. Up 47%; octopus exports accounted for 43.6%, reaching 213 million US dollars, an increase of 24%.

South Korea and Japan are the two major markets in Vietnam's squid and octopus import market, accounting for 36% and 22% respectively. China came in third with 10%, but the growth rate was as high as 113%. Exports to the US, Spain, France and Israel also rose strongly: 53%, 152%, 76% and 193%, respectively.

According to import and export data, in the first eight months of this year, squid and octopus exports to the EU market exceeded US$52 million, a year-on-year increase of 34%. Italy, Spain and France are the top three EU import markets respectively. Exports to Italy fell slightly by 1%, while exports to the other two markets rose by 152% and 76%, respectively.

Fresh and frozen octopus, accounting for 83% of total octopus exports. In terms of squid, fresh/frozen products account for 49%, dried squid accounts for 42%, and the rest are processed squid (9%).

According to import and export data, the growth of squid export value (47%) was better than that of octopus export (24%). In the first eight months of this year, the export of processed squid achieved a growth rate of 79% among the squid and octopus products exported by Vietnam.

The main export products of Vietnam are frozen octopus, frozen cut octopus, dried squid, unprocessed dried squid, frozen processed octopus, peeled dried squid, whole octopus cleaned and frozen, and frozen squid.