Image: Vasep / FIS

Surimi exports to Indonesia increased by 618%

VIET NAM
Friday, April 28, 2023, 07:00 (GMT + 9)

After growing in February 2023, Vietnam's exports (exports) of fish cakes and surimi in March reversed, decreasing over the same period. The export value of this group of products of Vietnam in March 2023 only reached 25 million USD, down 28%. In the first 3 months of 2023, the export turnover of fish cakes and surimi reached nearly $68 million, down 23%.

Source: Vasep

Vietnam's fish cakes and surimi products have been exported to more than 25 markets around the world. In which, exports mainly focus on Korea, Thailand and China, accounting for 64% of the total export turnover of fish cakes and surimi of Vietnam in the first 3 months of this year.

Photo: Phu Kim Nhat Foods -->

Compared to the same period last year, Vietnam's exports of this group of products to major markets have mostly decreased. Specifically, exports to South Korea decreased by 13%, Thailand decreased by 23%, and China decreased by 13%. However, there are also some markets that are increasing imports of this group of products from Vietnam such as the US, Indonesia or Lithuania

In the US market, Vietnam's exports of fish cakes and surimi have grown continuously in the past 3 months. As a result, the US from the position of being the 9th largest import market of Vietnam in the first quarter of 2022 has risen to become the 5th largest import market in the first quarter of 2023, accounting for 6% of the total export turnover in the first quarter of 2023. First 3 months.

Source: Vasep

Along with the US, Vietnam's exports of fish cakes and surimi to Indonesia also grew continuously in the first quarter, at 3 to 4 digits. Although export sales to this market are still small, with a 3-digit growth rate of 618%, the Indonesian market is remarkable in the context of the current market decline.

Currently, seafood exporters are facing difficulties in terms of raw materials and high input costs for production. Besides, the IUU yellow card that has not been removed is still a challenge for the export activities of this industry. Therefore, it is forecast that the export of fish cakes and surimi is still difficult to recover in the short term.

Author: Nguyen Ha | Vasep (translated from the original Vietnamese)

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www.seafood.media

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