IN BRIEF - South Korea is the growth driver of Vietnam's squid and octopus exports in the second half of this year.
SOUTH KOREA
Friday, August 09, 2024
South Korea is still Vietnam's largest market for squid and octopus, accounting for more than 40% of total export value. In the first 6 months of this year, squid and octopus exports to this market reached 114 million USD, up 13% over the same period. In the second quarter of 2024, squid and octopus exports to South Korea reached 58 million USD, up 13% over the same period in 2023.
Continuing the upward trend from 2023, in the first half of this year, squid and octopus exports to Korea still maintained positive growth. In the 3 months of the second quarter of 2024, squid and octopus exports to this market grew positively in all 3 months of the second quarter, especially exports in May and June grew by double digits.
Demand for squid and octopus in Korea remained stable in the first half of this year. In addition, Korea reduced imports from other sources such as Japan, China, and Peru, so it increased imports from Vietnam.
Japan's nuclear waste discharge has had an impact, reducing South Korea's demand for seafood imports from Japan. China's ban on seafood imports from Japan has also caused a decrease in the supply of squid and octopus from China to markets such as South Korea due to a shortage of raw materials for processing.
A sudden increase in fresh squid landings reverses a years-long decline, yet an overabundance of smaller fish poses a new challenge for the industry.
TOKYO — The Japanese flying squid catch has shown a dramatic recovery this year, reversing a slump that had brought landings to record lows. According to a new report, the total domestic landing volume from January to July reached 5,588 tons, a significant 78% increase compared to the same period last year.
The surge was driven almost entirely by the fresh squid sector, which saw landings jump by 91% to 5,340 tons. In contrast, frozen squid landings dropped by 28%.
Despite the positive volume, the industry is now grappling with a new problem: the overall size of the squid caught has been exceptionally small. In a market where larger squid command higher prices, this trend could put pressure on the economic value of the catch. The current trend also highlights an extreme imbalance in landing areas, with some regions experiencing bumper catches while others are left behind
Iceland’s fishing and aquaculture organisation SFS has told the Reykjavik government that the industry can more than double its value creation to more than £5 billion over the next decade.
SFS, also known as the Icelandic Fisheries Association, was commenting on a proposed government employment policy which is up for consultation.
Together, fishing and aquaculture are worth around ISK 400 billion (£2.4bn) to the Icelandic economy. But SFS says it is more than possible to increase this to around ISK 800 billion – or eventually ISK 900 billion (£5bn plus).
Author: Vince McDonagh / Fish Farmer | Read the full article here
A new research report shows that material selection and cleaning methods in fish farms can have a major impact on microplastic emissions. The project is led by Norwegian research institute SINTEF Ocean and paid for by fisheries and aquaculture industry research funder FHF.
The goal of the SMARTER research project is to help the aquaculture industry choose the right combinations of nets, impregnation (coating), cleaning methods, and ropes, so that emissions of microplastics are as low as possible.
Source: fishfarmingexpert | Read the full article here
Conxemar has proposed, through a recommendation from the Market Advisory Council (MAC) to the Commission, the need for the European Market Observatory for Fisheries and Aquaculture (EUMOFA) to conduct a study on the role played by joint fishing companies with European capital in supplying seafood to the EU market. "Their role in ensuring food security, trade competitiveness, and the sustainable use of resources deserves greater recognition," the association stated.
The report, which would complement the one prepared by the Vigo Free Trade Zone in 2023, should focus on their geographical distribution, their contribution to the supply of EU fishery and aquaculture products, their economic and social impacts, as well as their alignment with the Union's political objectives.
Source: Industrias Pesqueras | Read the full article here
In the framework of the 20th meeting of the Subcommittee on Fish Trade of the Committee on Fisheries (COFI) of the Food and Agriculture Organization of the United Nations (FAO), held from September 8 to 12, Peru, through the Ministry of Production (Produce) and the National Authority for Health and Safety in Fisheries and Aquaculture (Sanipes), was elected to chair the aforementioned FAO Subcommittee.
This appointment, Produce emphasizes, "represents a milestone for the region and international recognition of Peru's leadership in the responsible management of aquatic resources, the promotion of fair and sustainable fish trade, and the defense of global food security."
Source: iPac.acuicultura | Read the full article here
The Marine Stewardship Council (MSC) has announced that three-quarters of the whitefish caught in global fisheries is now certified MSC sustainable, representing “a major milestone for the seafood industry''
Whitefish represents one of the most compelling sustainability success stories in seafood
Despite recent economic pressures and global supply chain challenges, certified fisheries have consistently met this demand, and we’re now seeing growth through the entry of new fisheries and diversification into additional species
Author: Erin Spampinato / SeafoodSource | Read the full article here
The startup has secured around €1.7 million to scale production of protein from invasive crab species for use in the feed and food industry.
Danish impact startup Decameal has secured DKK 12.7 million (approximately €1.7 million) in new funding to accelerate its mission of transforming an invasive marine species into a sustainable protein source that could be incorporated into aquafeed. The company extracts protein and other ingredients from overabundant beach crabs, providing a valuable resource for the feed and food industries while helping to restore marine biodiversity.
Source: The Fish Site | Read the full article here
Suempol acquires Belgian shrimp processor Van Biesen & Pieters
Polish seafood company Suempol has acquired Van Biesen & Pieters, a family-owned shrimp processor based in Sint-Gillis-Waas, Belgium. Financial details were not disclosed.
The deal marks a return to Suempol’s origins in shrimp processing and distribution, while adding to its European portfolio built through acquisitions in Germany, France, the UK and Norway. Founded in 1989, Suempol is Poland’s oldest smoked salmon producer and also supplies a range of fresh and value-added salmon products.
Source: SalmonBusiness | Read the full article here
STANLEY– The Falkland Islands Fisheries Committee met to discuss the future of the Illex fishery, including a proposal to bring it under the Individual Transferable Quota (ITQ) system. The meeting took place as the second Loligo season faces a third consecutive year of low catches, prompting increasing calls for more research into the causes of the decline.
According to data presented to the Committee, the total catch for the current Loligo season, after 26 days, is far below the historical median. This ongoing disruption is causing significant concern among producers, who are urging officials to investigate the reasons behind the low yields.
The discussion on the Illex fishery’s potential shift to the ITQ system is a key point on the agenda, as the government seeks to balance resource management with the economic needs of the industry. The move would represent a major change in how the fishery is managed, following a model already in place for other species.
A four-member delegation from India’s Central Institute of Coastal Engineering for Fishery (CICEF) recently conducted a five-day visit to Sri Lanka to study the proposed development of the Point Pedro fishery harbour in the Northern Province. The team, representing the Indian Ministry of Fisheries, was in the country from September 8 to 12, 2025.