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Spain a Growing Market for Viet Nam Cephalopod

Sustainability Economics +3 more

VIET NAM - With strong growth at 107 per cent year-on-year, Spain is the third biggest market for cephalopod from Viet Nam.

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Accumulated value of Viet Nam cephalopod exports to Spain from January to November 2014 was $4.8 million, reports Vasep.

It is noted that from 2013, cephalopod exports from Viet Nam to Spain were affected by the economic crisis. After a long period from 2013 lasting till QI/2014, cephalopod exports to Spain showed a staggering increase at 125-493 per cent up year on year while the Italian market cooled down from the overheating growth in 2013.

Latest statistics of the ITC showed that in the first nine months of 2014, despite fierce competitions, Viet Nam ranked 15th in the top cephalopod suppliers for Spain.

In 2014, major of cephalopod imports of Spain, accounting for around 50-65 per cent, was squid frozen, dried, salted or in brine.

This was followed by frozen octopus with 27-40 per cent in the total import volume.

Meanwhile, processed cephalopod accounted for less than three per cent.

Morocco and the Falkland Islands are two major origins for most Spanish cephalopod imports, occupying 50-73 per cent of the total import value.

Morocco, though has been exporting to Spain for many years, presented reduction, resulting from large supplies from Asia countries such as China, India and Viet Nam.