Squid and octopus exports to the US soar

Two major products exported to the US are frozen squid and frozen octopus.

In 2017, exports of squid and octopus to the US increased from more than $1 million in the first quarter to $3.5 million in the fourth quarter.

Statistics of the US International Trade Commission (ITC) showed that the country imported squid and octopus from 38 sources worldwide in the first 11 months last year, worth $295.8 million, down 29.2 per cent from the same period of 2016.

Viet Nam is currently the ninth largest source of supply for this market.

The average price of squid and octopus in Viet Nam is currently high at $7.4 per kg, while that of India is $5/kg, China $5.1/kg, Indonesia $6.8/kg and Thailand up to $8.7/kg.