Significant rise in Vietnamese squid and octopus exports to EU

Vietnam’s squid and octopus exports to the EU and Republic of Korea (RoK) saw measurable growth in the first half of this year, according to the Vietnam Association of Seafood Exporters and Producers.

By the end of June 2014, exports of these commodities to the EU were valued at USD36.4 million, a year-on-year rise of 12.5%, bringing their total export value during the period to USD219.3 million, up 14%.

Octopus export at Sotico (Photo: Thai Thien)

Export value of the largest markets in each region such as Italy, Germany, France and Spain enjoyed sharp growth of 6.6%, 20.2%, 140.4% and 119.2%, respectively. According to VASEP, these marked a very positive up-turn after a slight decrease in squid and octopus exports in recent years and a suspension in the previous months.

In almost all main EU import markets, squid and octopus consumption rose again. Specifically in Italy which accounts for almost 11% of Vietnam’s total export value for the commodity achieved prices around USD5.2-5.8 per kg and Germany gains costs around USD4.8-5.8 per kg.

In the first two quarters of 2014, exports of the commodities to the market grew by 35% compared to the same period last year.

Source: CPV