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VietNamNews

Squid, octopus exports expected to rise

Update: April, 12/2012 - 10:23

 

Frozen squid is processed at Quang Ninh Seafood Import Export Co. Squid and octopus exports this year are likely to increase by between 0.4 to 207 per cent, with an estimated turnover of US$67 million. — VNA/VNS Photo Quang Quyet
HA NOI — Domestic mollusc exports to major markets were estimated to increase between 0.4 to 207 per cent, fetching around US$67 million in the first two month this year, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

South Korea and Japan remained the two biggest importers of squid and octopus, accounting for 60 per cent of total export turnover, said Nguyen Minh Tam, a VASEP representative.

In the first two months this year, the export turnover of squid and octopus to those two markets enjoyed double-digit growth of 15.9 and 41.5 per cent respectively, she said.

Exports to the EU experienced a year-on-year increase of 0.4 per cent, bringing in a turnover of $10.4 million. The EU remained a great potential market for Viet Nam's seafood exports, especially for molluscs.

Tam added that the European debt crisis had cooled down thus generating opportunities for Vietnamese seafood.

In February alone, the export value of molluscs to the EU stood at $6.4 million, 59.8 per cent year-on-year increase, bringing the total export value of this product to nearly $14 million in the first two months, or 4.5 per cent up over the first two months last year.

France and Greece have become the largest importers of Vietnamese molluscs with a growth rate of 121 per cent and 207 per cent, respectively.

Major exports to France include frozen squid with a growth rate of 200 per cent and molluscs with a growth rate of 709 per cent. Since December last year, the export value of molluscs to France rose between 2 and 3 times in comparison with previous months.

According to VASEP, many agricultural, fisheries and garment and textile products have been accepted into the EU. However, the market has changed certain policies related to preferential tax rates on seafood products from developing countries. With such changes, seafood products from Viet Nam may be eliminated from those enjoying preferential tax rates.

In addition, strict import regulations on flora and fauna have become more severe and the EU is compiling a draft on seafood labelling regulations that have also required Vietnamese seafood exporters to further study new regulations so as to promote exports.

According to economists, challenges from the EU will become opportunities for Vietnamese exporters to review and improve their business plans.

Despite facing difficulties in exporting seafood to the market, Vietnamese exporters have many opportunities at the same time. However, Vietnamese mollusc exporters must offer competitive prices and further study the EU market in terms of its laws, tax incentives and intellectual property, they said. — VNS

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