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.
ABANCA has renewed its collaboration agreements with the OP ANACEF Professional Fishermen's Organization and the Port and Ría de Marín Fishing Producers' Organization (OPROMAR), reaffirming its commitment to the entire maritime value chain.
The signing ceremony, held in Marín, was attended by José Luis Ramírez (ABANCA), Francisco Freire Lino (OP ANACEF), Claudino González (OPROMAR), and Javier Fraga (ABANCA Mar). The meeting served to map out a joint roadmap to tackle challenges such as rising costs, the lack of generational renewal, and the current geopolitical situation.
Sustainability is the core focus of the agreement. Through ABANCA Mar (a specialized unit active since 2016), the bank offers a tailored product catalog where credit takes center stage. A key highlight is the naval mortgage, designed to upgrade the fleet with more efficient vessels.
These comprehensive solutions—including credit lines, loans, and advanced sustainable subsidy payouts—will benefit 18 freezer trawlers from OP ANACEF and 30 fishing companies from OPROMAR.
The volume and value of tuna bearing the Marine Stewardship Council (MSC) label grew in fiscal year 2025-2026. Globally, sales of MSC-certified tuna increased by up to 100,000 tonnes compared to the previous year, representing a rise of over 39%. Similar trends were observed in various markets, driven by both branded and private label brands in Europe and North America.
According to the latest MSC Responsible Tuna Yearbook, sales of MSC-certified tuna exceeded 400,000 tonnes in fiscal year 2025-2026. The yearbook shows that MSC-certified fisheries caught a total of 3.1 million tons of tuna in 2025, representing more than half of the global wild tuna catch of major commercial species.
Source: Industrias Pesqueras | Read the full article here
Salmon accounted for 65% of the value of Norwegian seafood exports to the UK in 2025, the Norwegian Seafood Council has announced. At the same time, consumption increased in both the grocery and catering markets, with 8% growth in home consumption and 20% more servings outside the home.
Salmon is the UK’s most popular fish, with sales of domestic and imported fish in the 12 months to August 2025 rising 7.2% to £1.5 billion amid rising demand.
Bjørn-Erik Stabell of the Norwegian Seafood Council believes that the seafood industry must be clearer about marketing seafood as a natural source of protein.
The Norwegian Seafood Council’s UK director, Bjørn-Erik Stabell, describes salmon as the fastest growing source of protein in the British catering market measured in number of servings.
Author: Kyst redaksjonen / fishfarming expert | Read the full article here
Bord Iascaigh Mhara (BIM) has announced the opening of a new support scheme aimed at assisting owners of registered fishing and aquaculture vessels in managing rising fuel costs.
Application Timeline
The scheme officially opened for applications on 21 May 2026. Interested applicants have a limited window to apply, as submissions will close at 5:00pm on 12 June 2026. BIM has advised that late applications will not be accepted, urging eligible vessel owners to submit their applications in advance of the deadline.
Further details on eligibility criteria and application processes are available here. Vessel owners are encouraged to review the requirements carefully and apply within the specified timeframe.
According to data compiled by the Miyagi Prefecture Fisheries Co-operative, market values for farmed coho salmon (gin-zake) are currently facing a downward trend. As of May 20, average cumulative prices have dropped by 8%, hitting a low of $5.11 per kilogram (812 Yen).
The recent figures show a clear decline compared to the much higher price ranges recorded during the exact same period in the previous year. Landings are still progressing across key distribution hubs, with the underlying data originating from the combined market locations of Onagawa, Ishinomaki markets, and the Shizugawa operations office.
Industry experts note that all listed unit prices are calculated excluding consumption tax. Despite steady shifting market values, overall aquaculture revenues in Miyagi Prefecture are experiencing pressure due to this ongoing price slump.
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Salmon is the UK’s most popular fish, with sales of domestic and imported fish in the 12 months to August 2025 rising 7.2% to £1.5 billion amid rising demand.
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