RoK - potential market for Vietnam’s cuttlefish

The Republic of Korea (RoK) has emerged as one of the largest importers of Vietnamese cuttlefish and octopus despite the tough import requirements.

Frozen cuttlefish fillets

Statistics released by Vietnam’s General Customs Department show that the RoK imported some 2,000 tonnes of cuttlefish and octopus from the Southeast Asian country in October, bringing the total volume for the first 10 months of this year to 20,000 tonnes.

By early October, Vietnam’s cuttlefish and octopus exports to its key markets including the RoK, the US, Australia and the Association of Southeast Asian Nations (ASEAN) had seen a steady growth rate, said the department.

However, many local exporters are now facing difficulties due to an insufficient supply, which has led to these products rising in price.

To address the shortages, the fisheries departments in a number of localities such as Da Nang, Binh Thuan and Kien Giang have zoned off areas to farm cuttlefish and octopuses and have banned people from catching cuttlefish during their breeding season.

The Vietnam Seafood Exporters and Producers (VASEP) said that it will work with the Korean Fisheries Trade Association (KFTA) to exchange information, expand the market and study demands in the RoK.

Source: VNA

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