Squid, octopus exports down 21.2 per cent

Ho Chi Minh City — Squid and octopus exports fell by 21.2 per cent year-on-year in the first five months of the year to US$192 million as demand was hit by COVID-19, according to the Việt Nam Association of Seafood Exporters and Producers.

With COVID-19 affecting global demand, Việt Nam’s exports of squid and octopus fell by 21.2 per cent in the first five months of the year. — VNA Photo Hoàng Ngà

Korea, traditionally Việt Nam’s largest buyer of squid and octopus, accounting for 42.6 per cent of total exports, has bought 21.2 per cent less this year.

The fall in shipments to the EU was 49 per cent.

Exports to China increased by 38 per cent to $13.7 million.

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 Việt Nam’s exports.