Vietnam is taking advantage of the Spaniards appetite for cephalopod
The Spaniards appetite for cephalopod represents an advantage for Vietnam's seafood industry. According to Vietnam Association of Seafood Exporters and Producers (VASEP), the cephalopod exports to Spain in the first two months of this year have increased by 104% compared to the same period of 2017, despite a decrease by 9.1% on the EU region for the same item.
In February of this year, exports to Spain reached $0.4 million, a sharp increase of 1,253.4% over February 2017. The figure in the first two months of 2018 was $0.9 million, up 104% over the same period in 2017, according to VASEP portal.
At this time, Spain is the third largest importer of cephalopod in the EU, picking up 1.2% of the total export value of Vietnam cephalopod to markets. However, Spain is the world's largest importer of cephalopod accounting for 16.9% of the total imports.
Spain's cephalopod imports increased continuously from 2013 and peaked at $1.1 billion in 2016. However, in 2017, imports into Spain dropped by 95%, reaching only $51.7 million due to a fall in the world cephalopod production that led to a sharp rise in the price.
The best selling products in Spain included squid, accounting for 43.6% of total imports and live/fresh/chilled octopus, making up 25.4%. Last year, Portugal was the largest supplier of cephalopod to Spain, accounting for 24.5% of the total import value of cephalopod into this country; followed by Peru with 16% and France with 12.5%, while Vietnam was ranked as the 14th largest supplier (0.9%) into this market.
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