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Cephalopod market situation in Korea

Click on the flag for more information about South Korea SOUTH KOREA
Friday, October 16, 2020, 17:00 (GMT + 9)

Imported 46% from squid tubes, chile

In September 2020, frozen squid tubes import volume was 2,824 tons, up 16% from 2,444 tons in the previous year, and the cumulative import volume in September was 19,868 tons, up about 7% from 18,527 tons in the previous year.

The average September import volume from 2015 to 2020 was 2,062 tons, up about 37% from 2,824 tons in 2020.

The main exporting countries of frozen squid tubes include Chile, Peru, China, the Philippines, Indonesia and Russia, with about 46 % (9,184 tons) of the total volume imported from Chile.

About 27 % (5,361 tons) from Peru, about 26%(5,255 tons) from China, about 0.2 % (42 tons) from the Philippines, 0.1 % (14 tons) from Indonesia and 0.1 % (12 tons) from Russia.

The average unit price per country was the highest at USD 8.86/kg in the Philippines and the lowest unit price at USD 2.02/kg in Peru.

In August 2020, frozen squid tubes imports amounted to USD 5.05 million, down 13 % from USD 5.8 million a year earlier. 

The average unit price of imports in September stood at USD 1.79 /kg, down about 24 % from USD 2.37/kg in the previous year.

58% import from frozen octopus Mauritania

In September 2020, frozen octopus imports increased by 48% from 355 tons in the previous year to 527 tons, while cumulative frozen octopus imports decreased 34% to 2,391 tons in September compared to 3,603 tons in the previous year.

The average September import volume from 2015 to 2020 was 564 tons, down about 7% from 527 tons in 2020.

The major exporting countries of frozen octopus are 15 countries including Mauritania, Indonesia, Philippines, China, Madagascar, Venezuela, Senegal, Mexico, Peru, and Vietnam.

From Mauritania, 58 % (1,398 tons), 12 % (282 tons) from Indonesia, 9 % (208 tons) from the Philippines, 7 % (177 tons) from China, 5 % (117 tons) from Madagascar, 4 % (90 tons) from Venezuela, 2% (45 tons) from senegal, 1 %(31 tons) from Mexico and 1 % (21tons)fromPeru. 

The average unit price of imports per country was the highest in Mauritania USD 8.18/kg and the lowest in Somalia USD 3.00/kg.

The amount of frozen octopus imports in September 2020 was USD 3.55 million, up about 57% from USD 2.26 million in the previous year, and the average import price in September was USD 6.74/kg, up about 6% from USD 6.35/kg in the previous year.

Source: Union Forsea Corp

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