By the end of April 2025, the export turnover of squid and octopus reached more than 215 million USD, an increase of 18% over the same period in 2024. In particular, squid exports recorded a stable increase, contributing to maintaining the overall growth momentum for the whole industry.
Key markets such as Japan, Thailand, and the US maintained good demand. Thailand has surpassed China to become the third largest import market. However, exports to China tended to decrease, while the EU and South Korean markets only increased slightly.
However, according to the Association of Seafood Exporters and Producers, businesses in the industry are currently under double pressure of strong increases in input costs, while global consumer demand is declining. Conflicts also contribute to high transportation costs, directly affecting export profits.
The El Niño phenomenon that has lasted since the end of 2024 has disrupted the process of recovering squid resources, causing serious shortages in many exploitation areas. At the same time, uncontrolled fishing (IUU) activities and the requirement for supply chain transparency from the EU and US markets have forced many businesses to adjust export plans.
However, with stable demand and an upward trend in prices, Vietnam's squid and octopus exports are expected to continue to improve in the second half of the year.
