Vietnam’s customs statistics reveal that squid and octopus exports in the first four months of the year reached over $215 million, an 18% increase compared to the same period in 2024, with squid exports showing a particularly upward trend.
Squid exports amounted to 17,000 tons, valued at $113 million, reflecting a 14% volume increase and a 16% rise in value. Meanwhile, octopus exports brought in over $100 million, equivalent to 12,000 tons, representing a modest 3% volume increase and a 2% value growth.
Among the top import markets, exports to Japan, Thailand, and the US showed robust growth, while shipments to South Korea and the EU saw a slight increase. Exports to China & Hong Kong declined, whereas Thailand’s strong performance in the initial months propelled it past China & Hong Kong to become Vietnam’s third-largest import market for squid and octopus during this period.
Source: VASEP
Vietnamese exporters of squid and octopus continue to grapple with challenges related to raw material sourcing and rising production costs. Additionally, reduced consumer demand, constrained spending, and ongoing conflicts in various regions have led to surging maritime freight rates, eating into exporters’ profits.
The global squid and octopus market is undergoing notable fluctuations in 2025, influenced by factors such as climate change, surging consumer demand, and sustainability concerns. The El Niño phenomenon disrupted the replenishment of squid resources, resulting in supply shortages in certain regions towards the end of 2024.
Moreover, the cephalopod industry is confronted with overfishing and illegal, unreported, and unregulated (IUU) fishing issues, necessitating stricter management measures. VASEP forecasts that with stable demand from key markets and rising prices, Vietnam’s squid and octopus exports are expected to continue their upward trajectory in the second half of 2025.
However, markets like the EU and the US are tightening regulations on traceability, demanding transparency and sustainability throughout the supply chain, which is likely to impact exports to these regions.
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