Exports of octopus and cuttle-fish to Japan fall 18%

Octopus and cuttle-fish exports reached 12 million USD in July 2018, down 18% year on year. However due to strong growth in previous months, export values of these two products recorded in seven months of 2018 is more than 80 million USD, up 3.5%.

Vietnam is providing mainly Japan with living, fresh and frozen cuttle-fish which accounts for 43% of total export value, processed octopus 28%, living, fresh, frozen and dried octopus 22%, other processed cuttle-fish the rest. Vietnam’s cuttle-fish exports to Japan in seven months of 2018 fell 11.6% as compared to the same period last year. Meanwhile, octopus exports increased 26%, leaving positive density of this product to Japan.

According to ITC, cuttle-fish and octopus importsinto Japan reached 134.2 million USDin the first five months 2018, down 2.9% year on year. Japan buys these products mainly from China, Vietnam, Peru and Thailand. Japan intends to buy more cuttle-fish and octopus from Vietnam whilst less from other countries.

Processed cuttle-fish (HS 160554) is the best-selling product to Japan with 102 million USD in the first five months of the year, followed by processed octopus (HS 160555) with 31.8 million USD. Among those exported to Japan, the sale of processed octopus (HS 160555) fall by 13.4%, other cuttle-fish products are also recorded with modest decline.

VFM

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