Business

RoK - potential market for Vietnam’s cuttlefish

The Republic of Korea (RoK) has emerged as one of the largest importers of Vietnamese cuttlefish and octopus despite the tough import requirements.
The Republic of Korea (RoK) has emergedas one of the largest importers of Vietnamese cuttlefish and octopusdespite the tough import requirements.

Statisticsreleased by Vietnam’s General Customs Department show that the RoKimported some 2,000 tonnes of cuttlefish and octopus from the SoutheastAsian country in October, bringing the total volume for the first 10months of this year to 20,000 tonnes.

By early October, Vietnam’s cuttlefish and octopus exports to its keymarkets including the RoK, the US, Australia and the Association ofSoutheast Asian Nations (ASEAN) had seen a steady growth rate, said thedepartment.

However, many local exporters are now facing difficulties due to aninsufficient supply, which has led to these products rising in price.

To address the shortages, the fisheries departments in a number oflocalities such as Da Nang, Binh Thuan and Kien Giang have zoned offareas to farm cuttlefish and octopuses and have banned people fromcatching cuttlefish during their breeding season.

The Vietnam Seafood Exporters and Producers (VASEP) said that it willwork with the Korean Fisheries Trade Association (KFTA) to exchangeinformation, expand the market and study demands in the RoK./.
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