According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's squid and octopus exports in January 2023 were estimated at US$65.8 million, up 4% over the same period in 2021. Forecast In the whole year of 2023, the export of this item will reach about 875 million USD, up 15% compared to 2022.

Export of squid and octopus in 2023 is expected to bring in 875 million USD

The forecasted positive growth for squid and octopus exports in 2023 is due to the stable demand from the Korean and Japanese markets. The Russian-Ukrainian conflict has not yet ended, and will continue to reduce the domestic production of Korea and Japan as well as the output of the main suppliers for these two markets such as Morocco and Peru in the near future. year 2023.

Circular 06/2022 of the Ministry of Agriculture and Rural Development removing quarantine for frozen seafood imported for processing and export will continue to help squid and octopus businesses diversify their raw materials. in the year 2023.

Vietnam's affordable, convenient, and instant-cooked squid and octopus products will continue to be popular in the context that world consumers continue to face inflation and a stagnant economy this year. 2023.

However, the growth rate of squid and octopus exports in 2023 is not expected to be as high as in 2022 (with an increase of 25%) because businesses continue to face challenges in terms of raw materials and input costs. production, the impact of the Russia-Ukraine conflict disturbing global trade, soaring gasoline prices, unremoved IUU yellow card and global inflation.