Cuttlefish, octopus export to grow
Cuttlefish and octopus exports this year are expected to increase by four percent from last year to reach 470 million USD, according to the Vietnam Association of Seafood Producers and Exporters.
Illustrative photo (Source: Internet)VASEP General Secretary Truong Dinh Hoe said that Vietnam earned 440 million USD from cuttlefish and octopus exports last year, a year-on-year increase of three percent, with the Republic of Korea, Japan and the EU the largest import markets.
Exports of frozen cuttlefish and octopus contributed 34 percent and 32 percent of the total exports, respectively, and dried and processed products the rest.
Demand from Japan, the EU and other markets recovered significantly in the last few months of the year, but exports to the largest import market of the RoK, which accounted for 38 percent of total cuttlefish and octopus exports, fell strongly.
In the last few years, a scarcity of raw materials was a hurdle for mollusc exporters, who had to depend on imported sources.
The situation is expected to continue this year, with imports of raw materials forecast to increase strongly in the first quarter of the year.
Global demand for this kind of mollusc will not be high, but there is drastic competition among export countries, he said.
VASEP forecast cuttlefish and octopus exports just slightly higher than four percent this year, Hoe said, adding that exports in the first quarter were estimated to reach 80 million USD, a year-on-year decrease of 1.93 percent.
While exports to the RoK and Japan could fall slightly in the first quarter, exports to EU will rise but not by much.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
