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According to ITC, the EU market currently imports cephalopods from over 50 non-bloc countries. Vietnam is the 7th largest supplier to the EU market

Exports of Vietnamese cephalopods to the EU increased by 39%

Click on the flag for more information about Viet Nam VIET NAM
Friday, October 15, 2021, 06:50 (GMT + 9)

Thanks to strong growth in the first 7 months of this year, the EU has overtaken Thailand to become the third largest market for Vietnamese squid and octopus, accounting for 10.8% of Vietnam's total cephalopod export value. In August 2021, due to the impact of the Covid-19 epidemic, exports of squid and octopus from Vietnam to the EU, as well as to most markets, decreased. However, since September, exports have been recovering thanks to a policy of easing social distancing to restore production. Exports of Vietnamese cephalopods to the EU increased by 39%.

In the first 7 months of this year, Vietnamese exports of squid and octopus to the EU have been actively growing. In August, due to social distancing to prevent epidemics, exports of squid and octopus to the EU fell by 15% to nearly $ 5 million. However, thanks to strong growth in previous months, Vietnamese cephalopod exports to the EU nevertheless increased 39% in the first eight months of the year to US $ 38.8 million. It is the market with the highest growth among the 5 main import markets for cephalopods in Vietnam.

Under the influence of the EVFTA Agreement, import tax rates for frozen and processed cephalopod products exported to the EU are 0%, and after the Covid-19 pandemic in the siala world is better controlled, exports of cephalopods from Vietnam to the EU have recovered.

Among the EU member states, Italy, France and Spain are the three largest importers of Vietnamese squid and octopus. In August 2021, although exports of cephalopods to France and Spain declined by 81% and 40%, respectively, exports to Italy were still up 38% over the same period last year. As of August this year, cephalopod exports to Italy, France and Spain reached USD 20.3 million, respectively; $ 3.4 million and $ 3.2 million, up 69%, 15% and 17% over the same period.

<--- Kim Son Squid Tentacles IQF 500g (Frozen) - Origin: Viet Nam

According to ITC, the EU market currently imports cephalopods from over 50 non-bloc countries. Vietnam is the 7th largest supplier to the EU market. Spain, Portugal and France are among the top three importers of cephalopods in the EU in the first 7 months of this year. In the EU market, the demand for squid and octopus in the retail segment is still high. Restaurants and hotels are gradually opening, increasing the demand for this product.

Source: Fishretail.ru

editorial@seafood.media
www.seafood.media


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