This strong performance has made Thailand Vietnam’s fourth largest single import market for these products, accounting for 10% of the country’s total squid and octopus export value.

Squid dominated the overall export structure, generating US$32.5 million, up 35.6% year on year. Among the various squid products, dried and grilled varieties, including instant dried squid, led the way, bringing in US$30.24 million, up 30%.

A standout performer was live, fresh, and frozen squid, which jumped up 254% to reach US$2.276 million.

While octopus exports represented a smaller portion of the total turnover, they saw remarkable growth with total turnover rising up to 149.9% to US$0.513 million. Notably, processed octopus exports skyrocketed by 250.9%, while other forms such as dried, salted, live, fresh, or frozen octopus exports climbed by 43.4%.

VASEP noted that Thailand presents favourable conditions for Vietnamese seafood, thanks to low technical barriers and similar consumer preferences. This creates the potential for Thailand to become a key market for Vietnam’s squid and octopus sector in the coming years. The association suggested that Vietnamese seafood enterprises consider expanding value-added octopus product lines to tap into this opportunity.

“Thailand is well-positioned to become a strategic market for Vietnamese squid and octopus, especially as the demand for highly processed products grows. This opens opportunities for local businesses to invest in more advanced processing lines,” stated a VASEP representative.

However, Vietnamese exporters have faced tougher competition as the neighbouring country tries to diversify its supply sources, including from China, Argentina, and India, where prices tend to be lower.

In an effort to stay competitive, Vietnamese companies are required to continue improving product quality while optimising production and logistics costs, according to the VASEP.

Thailand among Vietnam’s top three export markets for squid and octopus

VOV.VN - Thailand has overtaken China to become Vietnam’s third largest export market for squid and octopus in the first four months of the year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).