Purchase by the Republic of Korea, traditionally Vietnam’s largest buyer of squid and octopus, accounting for 42.6% of total exports, has reduced by 21.2% this year.
Shipments to the EU fell by 49%.
Exports to China increased by 38% to US$13.7 million. While its imports of squid and octopus fell in the first two months, its demand picked up from March onwards, when its COVID-19 situation began to improve.
According to VASEP, since COVID-19 is not completely under control around the world, supply of raw seafood and global demand for processed seafood would continue to fall, as would Vietnam’s exports.
VIETNAM CHAMBER OF COMMERCE AND INDUSTRY
Liên Đoàn Thương Mại Và Công Nghiệp Việt Nam
