PRODUCTS FROM VIETNAM
This category includes all seafood products sold by processors in Vietnam. Regardless of whether the raw materials are locally sourced or imported.
Latin name : Cuttlefish (Sepia officinalis) ; Squid Loligo (Loligo Edulis) ; Todarodes (Todarodes pacificus)
In 2023, Cephalopods, with an export value of approximately 660 million USD, constituted around 7% of Vietnam’s total seafood exports (Vasep). The squid Loligo edulis, which accounts for slightly less than half of the total Cephalopod exports, is the most emblematic of the cephalopods exported from Vietnam’s local catch. This product, renowned for its subtle flavor, is highly valued by connoisseurs. However, the local catch has seen a significant decline in recent years. Moreover, the quality of this squid can fluctuate, influenced by factors such as the specific catch area within Vietnam and the capture method used.
Octopus is the second main Cephalopod exported. This includes baby octopus (one skin to two skins), primarily from local catch, and giant octopus, which are mainly imported raw material. Cuttlefish make up just a little more than 10% of the total cephalopod export value. These are sourced from both local catch and imported raw material.
The Asian market, with its profound understanding and expertise in cephalopods, demonstrates a robust demand for Vietnamese cephalopods. Over 85% of the total export value is consumed by Asian countries, with Korea (37%), Japan (23%), China (11%), and Thailand (10%) being the main consumers. Outside Asia, the primary markets are the USA with a modest 3%, followed by Italy (2.5%) and Spain (1%).
This significant concentration of exports to the Asian market, along with their expert knowledge of cephalopods, can pose challenges for buyers in America and Europe who are seeking to source cephalopods from Vietnam.
