Vietnamese value of cephalopod exports to US increased by 31%
The U.S held as one of the six leading importing markets of Vietnamese cephalopod in the first 7 months of 2018, informs Vietnam Association of Seafood Exporters and Producers. According to the statistics of Vietnam Customs, Vietnam’s cephalopod exports to the U.S in Jun and July 2018 decreased, but thanks to the good growth in the first five months of the year, the total export value in the first 7 months year to this market still increased by 31.8%, reaching more than US$5.5 million.
Current cephalopod imports into the U.S were also on the downward trend. In the first 7 months of this year, imports of cephalopod products into the U.S decreased compared to the same period last year. However, due to the low yield of cephalopod pushed the import value higher than that of the same period. Specifically, the total volume of cephalopod in the U.S in the first seven months reached nearly 27 thousand MT, worth by US$183 million, down 14% in volume but up 2.6% in value.
In particular, squid products accounted for the highest proportion. Of that, frozen/smoked/salted squid accounted for more than 56% of total import volume; followed by processed squid and frozen/smoked/salted octopus.
The U.S boosted its imports of cephalopod from more than 30 countries around the world. In particular, Vietnam was currently one of the 10 largest suppliers to this market, with the share of 2%. Recently, while exports of some large countries such as China, India and Thailand to the US decreased, Vietnam's exports to the market increased by 49.5% in volume and 34% in value. Also, New Zealand's exports in this market increased by 25.9% in volume and 50.5% in value.
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