South Korea reduce imports of frozen surimi from Vietnam
(seafood. vasep.com.vn) According to statistics of Korea Customs, Korea's import of frozen fish cakes/surimi in March 2023 reached nearly 9 thousand tons, down 35% compared to the same period in 2022. In the first quarter of 2023, the import turnover of this product group reached nearly 34 thousand tons, a decrease of 4%.
The average CIF price of this product group into Korea fluctuated at 1.81 USD/kg.
China and Vietnam are the two largest suppliers in this market segment for Korea in the first quarter of 2023. After growing in the first two months of 2023, exports from China plummeted by 50% in March. Vietnam's exports also fell by 10% in March.
Although Vietnamese enterprises have lowered their prices, this was still unable to boost exports of frozen surimi to South Korea
Although Vietnamese enterprises have lowered their prices, this was still unable to boost exports of this product group. The average CIF export price of fishcake and surimi of Vietnam in the first 3 months of 2023 fluctuated at 1.86 USD/kg, down 4% compared to the same period in 2022. Compared to other suppliers, Vietnam has the second lowest price after China.
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Frozen fishcakes and surimi imports into South Korea (Unit: tons, CIF - USD/kg)
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March 2023
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Jan-Mar/2023
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Volume
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Change(%)
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Average price
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Change(%)
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Volume
|
Change(%)
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Average price
|
Change(%)
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Pollock surimi
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790
|
-45.6
|
3.88
|
-5.4
|
2,767
|
-27.9
|
3.87
|
0.8
|
|
The US
|
561
|
-58.7
|
4.38
|
5.8
|
2,309
|
-34.1
|
4.02
|
4.1
|
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Russia
|
229
|
143.6
|
2.65
|
-26.8
|
457
|
37.7
|
3.08
|
-17.0
|
|
Other cods surimi
|
0
|
|
|
|
0.02
|
|
8.2
|
|
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Other surimi
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8,123
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-33.4
|
1.65
|
9.3
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31,058
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-0.7
|
1.63
|
-0.6
|
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The US
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0
|
-100.0
|
|
-100.0
|
|
-100.0
|
|
-100.0
|
|
China
|
3,844
|
-50.2
|
1.3
|
2.4
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16,275
|
3.2
|
1.31
|
4.0
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Indonesia
|
192
|
-11.1
|
2.25
|
14.8
|
864
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-12.4
|
2.19
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5.8
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India
|
459
|
30.0
|
2.34
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-3.7
|
1,141
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-31.9
|
2.32
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-3.3
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Pakistan
|
240
|
25.0
|
2.14
|
-5.7
|
1,032
|
29.0
|
2.19
|
-1.4
|
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Malaysia
|
24
|
|
2.25
|
|
48
|
|
2.25
|
|
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Thailand
|
192
|
0.0
|
2.69
|
7.2
|
480
|
-20.0
|
2.64
|
11.9
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Vietnam
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3,133
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-10.3
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1.82
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0.0
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11,122
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-2.4
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1.86
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-3.6
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Myanmar
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38
|
|
3.07
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|
96
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146.2
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3.09
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12.4
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Total
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8,912
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-34.7
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1.85
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3.4
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33,824
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-3.7
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1.81
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-3.7
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(Source: Korean Customs)
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