The newly published report of the Association of Seafood Exporters and Producers (VASEP) said that Vietnam's squid and octopus exports as of October 15, 2023 reached more than 504 million USD, down 14% over the same period. last year.

In the third quarter of this year, Vietnam's squid and octopus exports to the two markets of Korea and China recorded positive growth in August and September. It is expected that in the last quarter of this year, squid, Octopus to these two markets continues to achieve more positive results than before.

Vietnam's squid and octopus exports as of October 15, 2023 will reach more than 504 million USD

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 36.4% of total export value.

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.

VASEP said that China is Vietnam's third largest squid and octopus import market in the first three quarters of 2023, accounting for 10.2%. Vietnam's squid and octopus exports to China in the first 9 months of 2023 reached 51 million USD, down 11% over the same period.

Squid and octopus exports to China in the third quarter of 2023 reached 24 million USD, an increase of 11% over the same period. After two backward quarters, in the third quarter, squid and octopus exports to this market recorded a positive growth of 11%.

VASEP also added that squid products continue to be Vietnam's main export product group to China, accounting for 87%, octopus only accounts for 13% of total cephalopod exports to this market.

In the first 9 months of 2023, octopus exports to China 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%.