Squid, octopus exports down 21.2 percent
admin 30-06-2020, 22:00

Squid, octopus exports down 21.2 percent
HCM City (VNA) – Squid and octopus exports fell by 21.2 percent year-on-year in the first five months of the year to 192 million USD as demand was hit by COVID-19, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Purchase by the Republic of Korea, traditionally Vietnam’s largest buyer of squid and octopus, accounting for 42.6 percent of total exports, has reduced by 21.2 percent this year.

Shipments to the EU fell by 49 percent.

Exports to China increased by 38 percent to 13.7 million USD. While its imports of squid and octopus fell in the first two months, its demand picked up from March onwards, when its COVID-19 situation began to improve.

According to VASEP, since COVID-19 is not completely under control around the world, supply of raw seafood and global demand for processed seafood would continue to fall, as would Vietnam’s exports./.