In the first 9 months of 2023, squid and octopus exports to Korea reached more than 173 million USD, down 12% compared to the same period in 2022. Korea is still Vietnam's largest squid and octopus import market, accounting for 36,000 USD. 4% of total export value.

In the third quarter of 2023, squid and octopus exports to Korea reached more than 72 million USD, down 2% over the same period last year. Exports in the third quarter recorded the lowest decrease compared to the previous two quarters. In the third quarter of this year, after a decrease of 23% in July, Vietnamese squid and octopus exports to Korea achieved positive growth in August and September. Especially in September, double-digit growth was recorded. .

Squid and octopus exports to Korea returned to positive growth in August and September because Korea increased its demand for importing squid and octopus from Vietnam while this market decreased imports from other sources such as Japan and China. Quoc.

Octopus is Vietnam's main export product to the Korean market in the first 9 months of this year, accounting for 71.8%, squid accounting for 28.2%. Most of which are dried/salted/live/fresh/frozen octopus products, accounting for 68% of the total export value of squid and octopus products. Processed octopus recorded good export results with the best growth rate of 36% in the first 3 quarters of 2023.

Japan's nuclear waste water discharge had an impact, reducing Korea's demand for seafood imports from Japan. Korea did not issue a ban on importing seafood from Japan but increased inspection of goods from Japan. Besides, China is the largest supplier of squid and octopus to Korea. China's ban on seafood imports from Japan also caused the supply of squid and octopus from China to markets such as Korea to decline due to a shortage of processing materials.

China & HK are Vietnam's 3rd largest squid and octopus import markets in the first 3 quarters of 2023, accounting for 10.2%. Vietnam's squid and octopus exports to China & HK in the first 9 months of 2023 reached 51 million USD, down 11% over the same period.

Squid and octopus exports to China & HK in the third quarter of this year reached 24 million USD, up 11% over the same period. Squid and octopus exports to China and Hong Kong in the first quarter of this year still decreased by 40%, and in the second quarter the decrease gradually narrowed (-12%). By the third quarter, squid and octopus exports to this market recorded a positive growth of 11%.

In the months of the third quarter of this year, squid and octopus exports to China only decreased in July, and grew by 16% and 37% respectively in August and September. China's ban on seafood imports from Japan After Japan's nuclear waste discharge into the sea, China increased imports from other sources, including Vietnam. In addition, the demand for squid and octopus in China increased in the third quarter to serve the consumption needs of the Mid-Autumn Festival and National Day in this country.

Squid products continue to be Vietnam's main export product group to China and Hong Kong, accounting for 87%, octopus only accounts for 13% of total cephalopod exports to China. In the first 9 months of 2023, octopus exports to China & HK grew well by 77% while squid exports decreased by 18%. The export value of dried/salted/live/fresh/frozen octopus to China recorded the strongest growth of 103%, the export of processed octopus increased by 16%. The export value of live/fresh/frozen squid also increased by 23% while the export of processed squid and dried and grilled squid all decreased by 24%.

Minh Toan