China continue to be potential market for Vietnams seafood exportation

According to the Vietnam Association of Seafood Exporters and Producers, China is the fifth largest import market for squid and octopus in Vietnam, accounting for 6.6% of Vietnam's total export of squid and octopus to markets. This market is becoming a great potential for seafood export in 2018.  

Packaging fish for exporting. Photo: Thu Hòa

By the end of November 2017, the export of Vietnam squid and octopus to China and Hong Kong reached $US 37.8 million, increased by 145.6% over the same period in 2016. In that, Hong Kong reached $US 6.3 million, rose by 25.3%. China has the highest growth rate among key import markets for squid and octopus, from Vietnam in the past 11 months.

The export of Vietnam's squid and octopus to China from the beginning of the year has always achieved positive growth. From May to September in 2017, the export of squid and octopus to China has continued to grow by three digits. Notably, in August 2017, the exports to this market increased by 400% compared with August in 2016. This can be seen as a good signal for Vietnamese enterprises exporting squid and octopus to China this year.

Furthermore, Vietnam is in 20th rank for exporting squid and octopus to Chinese market and the fourth largest exporter of fresh and chilled squid, (HS code: 030741) to this market just below Korea, Japan and Indonesia. Among those four countries exporting fresh and chilled squid to China, only Vietnam and Indonesia enjoy tariff rate of 0%, the two remaining countries takes tariff rate up to 6%. Meanwhile, Vietnam is ranked 23rd for exporting frozen squid (HS code 030749) to China although tariff rate for exporting this item of Vietnam is 0%.

Currently, Vietnam is in the third rank for exporting frozen octopus (HS code 030759) to China after Japan and Mauritania.