Photo: VASEP/FIS

Vietnamese Squid and Octopus Exports Maintain Growth Amid Global Market Headwinds

VIET NAM
Thursday, June 12, 2025, 00:10 (GMT + 9)

Exports exceed $215 million in first four months, driven by strong demand from Japan and Thailand, but producers grapple with rising costs, geopolitical conflicts, and tightening import regulations.

HANOI – Vietnam's squid and octopus exports continued their upward trajectory through April 2025, demonstrating sustained growth despite an unstable global economic landscape. Total export turnover for the first four months of the year reached over $215 million USD, marking an impressive 18% increase compared to the same period in 2024, with squid exports showing a particular growth trend, as reported by Ms.Nguyen Ha, Tuna Market Expert at the Vietnam Association of Seafood Exporters and Producers (VASEP)

Among Vietnam's primary import markets, significant growth was observed in exports to Japan, Thailand, and the United States. Exports to South Korea and the European Union saw modest increases, while those to China and Hong Kong experienced a decline. Notably, the strong performance in the early months of the year propelled Thailand past China and Hong Kong to become Vietnam's third-largest market for squid and octopus during this period.

Exporters Navigate Rising Costs and Geopolitical Strain

Despite the overall growth, Vietnamese squid and octopus exporting enterprises continue to face considerable difficulties. Key challenges include securing sufficient raw material sources and managing high input costs for production. Furthermore, the global consumption demand is softening as consumers tighten their spending.

Adding to the complexities are ongoing geopolitical conflicts, including the Russia-Ukraine war and the Hamas-Israel conflict. These tensions have led to increased shipping costs, which in turn erode profit margins for businesses in the sector.

Click on the table to enlarge it. Souce: VASEP

The global squid and octopus market itself is experiencing significant fluctuations in 2025, influenced by broader factors such as climate change. The El Niño phenomenon, for instance, disrupted squid stock regeneration towards the end of 2024, leading to localized supply shortages. The cephalopod industry also grapples with widespread issues of overexploitation and illegal, unreported, and unregulated (IUU) fishing, necessitating stricter management measures worldwide.

Outlook: Growth Expected, But Regulatory Hurdles Loom

Looking ahead, Vietnamese squid and octopus exports are generally expected to continue their growth trajectory in the second half of 2025, buoyed by stable demand from key markets and an upward trend in prices.

However, exporters must prepare for evolving regulatory landscapes. Markets such as the EU and the US are increasingly tightening regulations on traceability, demanding greater transparency and sustainability throughout the supply chain. These stricter requirements are anticipated to impact export dynamics to these crucial markets, requiring Vietnamese producers to adapt to ensure continued compliance and competitiveness.

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