The total exports of squid and octopus to Thailand in the first three months of 2012 reached US$5 million, an increase of 15% over the same period last year and is likely to keep growing through the year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
In the past five years, export revenue from squid products and octopus shipped to Thailand has increased continuously, with the country becoming Vietnam’s third-largest importer, following Japan and the Republic of Korea
However, Vietnamese exporters are facing a shortage of material inputs for export production, with many forced to import raw materials despite an additional 10% tax.
Vietnamese exporters also meet difficulties in official procedures in importing materials and face tough competition from Thai businesses which have steady sources of materials.
Seafood experts said Vietnamese exporters should improve the quality of their products to increase competitiveness.
In future, VASEP will cooperate with Thai Frozen Foods Association in sharing information to assess market demands and expand market share in the Thai market.