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.
Ahead of the event scheduled for November 30 to December 2, 2026, the XI Congreso Nacional de Acuicultura continues to garner support from companies and institutions linked to the sector's development, cementing its status as a key meeting point for science, innovation, and the national aquaculture industry.
The event, which will take place at the Diego Rivera Theater in Puerto Montt, already has the backing of major players across the aquaculture value chain who have signed on as sponsors in various categories.
SalmoFood is participating in the Diamond category, while the Platinum category includes Veterquímica, STIM, QLF Labs, Sudvet, Benchmark Genetics, Cermaq, Salmones Antártica, Yadran, and Imenco.
Source: MundoAcuicola | Read the full article here
The South Korean government has announced new supply expansion measures to stabilise prices of key seafood items, including mackerel, hairtail and squid, as part of its broader plan to ease the burden of living costs in the second half of the year.
As part of the latest inflation control measures, the government plans to inject a total of KRW 1 trillion in fiscal support to stabilise consumer prices. For seafood, the government said it will directly import 2,000 tons of Norwegian mackerel and redirect part of domestic export-bound mackerel supply to the local market, offering it at around half price.
Hofseth International has increased its holding in Hofseth BioCare above 20% following the company’s NOK 144.5 million (€12.7 million) private placement.
The investment vehicle received 30.4 million new shares at NOK 1.30 each. Subject to shareholder approval of the second tranche, it will own 106.0 million ordinary shares and 16 million non-voting Class B preference shares, representing 20.30% of the company’s share capital and 17.78% of the voting rights.
Source: SalmonBusiness | Read the full article here
Norway’s fish farming industry is set to be one of the beneficiaries of a major ship tunnel project, for which a key contract has now been awarded.
The Oslo-based civil engineering giant AF Gruppen has been awarded a billion kroner (£80m) contract to build the Stad Ship Tunnel, one of Norway’s biggest transport projects.
The Stad Ship Tunnel is a planned 1.7-kilometre (just over one mile) underground passage in Norway designed to allow ships to bypass the highly unpredictable and dangerous Stadhavet Sea, an area in the west of the country which marks the dividing point between the North Sea and the Norwegian Sea.
Author: Vince McDonagh / Fish Farmer | Read the full article here
Recent advances in fishing operations largely aim to make the work easier for fishing professionals. AZTI and the University of Vigo stand out in this field with two projects focused on monitoring purse seine nets and reducing the effort involved in the albacore tuna season, respectively.
Every time a purse seiner heads out to fish, it risks returning to port with damaged gear because it lacks a system to monitor the entire net with sensors; the consequences can be even worse if that damage leads to an accident on board. To address this technological gap, AZTI has developed a new real-time monitoring system that reconstructs the geometry of purse seine nets as they are deployed in the water.
Source: Industrias Pesqueras | Read the full article here
Many Americans have been cautious as to where and what they spend their money on this year, but despite those economic concerns, sushi has maintained an impressive growth path.
“Like most food categories, we've navigated challenges related to inflation, shifting consumer spending patterns, and broader economic uncertainty, but sushi has remained remarkably resilient
That’s what Hissho Sushi, which operates 3,000 sushi locations nationwide in grocery stores, college campuses, hospitals, airports, and other foodservice environments, aims to offer.
Author: Christine Blank / SeafoodSource | Read the full article here
Europêche welcomed the constructive exchange with European Commissioner for Fisheries and Oceans Costas Kadis and the Cyprus Presidency of the Council of the EU, focusing on the urgent reforms needed to strengthen the competitiveness, resilience and long-term sustainability of Europe’s fishing sector. The meeting focused on the future of the Common Fisheries Policy (CFP), regulatory simplification, and the need to secure a sustainable and prosperous future for Europe’s fishing communities.
Marine ingredients organisation IFFO has announced the programme for its Annual Conference 2026, which is being held in Buenos Aires, Argentina, from October 19 to 21.
IFFO said the three-day conference will feature a comprehensive agenda covering key industry priorities, including navigating geopolitics, fishery management, responsible sourcing requirements and delivering deep market analyses from both a demand and supply perspective.
Source: fishfarmingexpert | Read the full article here
Fisheries Minister Luis Planas had convened representatives of the Spanish fishing sector to review progress on negotiations regarding the EU's multiannual financial framework—specifically concerning the European Maritime, Fisheries and Aquaculture Fund (EMFAF)—and aid to address the crisis triggered by US and Israeli attacks on Iran. However, the discussion ended up covering a wide range of topics: training, trade agreements, fishing quotas, Mediterranean regulations, and more.
Source: La Voz de Galicia | Read the full article here
SOUTH KOREA 09_20_15.png)
 09_17_37.png)
CHILE
Ahead of the event scheduled for November 30 to December 2, 2026, the 
The South Korean government has announced new supply expansion measures to stabilise prices of key seafood items, including mackerel, hairtail and squid, as part of its broader plan to ease the burden of living costs in the second half of the year.
NORWAY
Hofseth International
Norway’s fish farming industry is set to be one of the beneficiaries of a major ship tunnel project, for which a key contract has now been awarded.
JAPAN.png)
SPAIN
UNITED STATES.png)
Many Americans have been cautious as to where and what they spend their money on this year, but despite those economic concerns, sushi has maintained an impressive growth path.
EUROPEAN UNION
ARGENTINA
Marine ingredients organisation IFFO
Fisheries Minister Luis Planas had convened representatives of the Spanish fishing sector to review progress on negotiations regarding the EU's multiannual financial framework—specifically concerning the European Maritime, Fisheries and Aquaculture Fund (EMFAF)—and aid to address the crisis triggered by US and Israeli attacks on Iran. However, the discussion ended up covering a wide range of topics: training, trade agreements, fishing quotas, Mediterranean regulations, and more.
