Export of squid and octopus to the US decreased (29-01-2019)
As of November, 2018, the total value of Vietnam's squid and octopus exports to the US reached US $ 8.7 million, down 1.7% compared to the same period of 2017. The US is the 6th largest importer of squid and octopus of Vietnam, accounting for 1.4% of Vietnam's total squid and octopus export value to markets.
It can be said that 2017 is a positive year for Vietnamese squid and octopus enterprises exporting to the US. While the export value of main products such as shrimp and tra fish to the US dropped, the squid and octopus export to this market achieved impressive growth of 2-3 consecutive numbers in many months. This upward momentum continued in the first 5 months of 2018. After that, Vietnam exported squid and octopus to the US decreased continuously from June to now. The two main product groups with a large proportion in the export structure to the US are frozen squid (HS03) and frozen octopus (HS03).
According to Trademap, in the first 10 months of 2018, the US imported squid and octopus from 24 suppliers in the world with a value of US $ 264.1 million and decreased by 1.1% compared to the same period in 2017. In which, Vietnam is currently the 10th largest source of supply for this market.
In fact, at present, the market share of Vietnamese squid and octopus in the US still accounts for a small proportion compared to other countries in Asia and the average import price of squid and octopus from Vietnam is still higher than some other countries such as China, India and Taiwan. This shows that Vietnam's octopus and squid products are facing difficulties when competing with similar products of other countries in the US.
The average price of imported squid and octopus in Vietnam is currently at US $ 7.5 per kg, while that of India and China is approximately US $ 5 per kg.
US’ import of squid and octopus, Jan-Oct/2018
Value: thousand USD
|
Suppliers
|
Jan-Oct/2017
|
Jan-Oct/2018
|
Compare (%)
|
|
World
|
267,025
|
264,132
|
-1.1
|
|
Spain
|
58,750
|
74,897
|
27.5
|
|
China
|
103,986
|
87,547
|
-15.8
|
|
Taiwan
|
20,655
|
15,137
|
-26.7
|
|
India
|
11,616
|
10,524
|
-9.4
|
|
Thailand
|
12,982
|
11,180
|
-13.9
|
|
Japan
|
13,006
|
14,198
|
9.2
|
|
Philippines
|
3,978
|
4,348
|
9.3
|
|
S. Korea
|
6,229
|
6,449
|
3.5
|
Source: ITC
Huong Tra (source: vasep.com.vn)