Thursday, August 17, 2017 - 17:03:36

Cuttlefish, octopus exports fall sharply

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Export of cuttlefish and octopus since the beginning of the year has seen a year-on-year decline of about 20 percent in value, inflicting numerous difficulties on enterprises in the field.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), total earnings from the two products in the January 1 – May 15 period stood at 136.8 million USD, down 22.8 percent from the same period last year.

Export value to six major markets - the Republic of Korea, Japan, the EU, ASEAN, China-Hong Kong, Russia and the US, which together account for 90.4 percent of Vietnam’s total cuttlefish and octopus exports, also saw sharp reductions over the past three consecutive months.

Many processing businesses in coastal provinces reported a shortage of materials, with some forced to cut 40-50 percent of their processing capacity or manufacture without profit in order to maintain jobs for hundreds of workers.-VNA
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