South Korea increased imports of frozen octopus from Vietnam

(seafood.vasep.com.vn) After increasing in January, Vietnam's cephalopod exports to South Korea in February 2021 decreased by 21% compared to the same period in 2020. In the first two months of 2021, Vietnam's cephalopod exports were 3% lower than the same period in 2020, reaching 27 million USD.
South Korea increased imports of frozen octopus from Vietnam
South Korea increased imports of frozen octopus from Vietnam

According to the statistics of Vietnam Customs, in the first 2 months of this year, frozen octopus products accounted for 78% of the total export value of cephalopod to Korea. Compared to the same period in 2020, the export of octopus products to this market has increased. On the contrary, exports of squid products, except for other processed squid, to this market decreased year-on-year.

Korea's imports of cephalopod from countries around the world in the first 2 months of this year also dropped 11% in value. Korea is importing cephalopod from 8 countries around the world. In which, China, Peru and Vietnam are the three largest suppliers for this market.

However, in the frozen octopus market segment, Vietnam is not a major source for this market. The main exporters of frozen octopus are Mauritius, China, the Philippines and Venezuela.

Similar to Vietnam, in February Korea's imports of frozen octopus from other countries decreased. The value of Korea's frozen octopus imports this month reached 280 million USD, down by 82% year on year and the average import price in February was 5.76 USD / kg, down by 7% compared to the same period last year at 6.22  USD/kg compared to February 2020.


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