(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam exports of surimi and fish cake continued to decline in May 2024. The export value in this month reached only over 23 million USD, down 25% compared to the same period in 2023. In the first five months of 2024, Vietnam's exports of surimi and fish cake reached over 106 million USD, down 15%.
Currently, Vietnam's fish cake and surimi products are exported to 34 markets worldwide. Among them, South Korea, Thailand, China and Hong Kong, Japan, and the EU are the top five importers of these products from Vietnam. Overall, compared to the same period in 2023, exports of fish cakes and surimi to most markets have decreased, except for the EU.
Thanks to preferential tariffs in the early months of the year under the Vietnam-EU Free Trade Agreement (EVFTA), Vietnam's fish cake and surimi products are gaining market share in the EU bloc. The export value of these products to the EU in the first five months of 2024 reached nearly USD 8 million, an increase of 51% compared to the same period in 2023.
Within the EU market, Lithuania, Italy, and France are the three largest importers of Vietnam's fish cakes and surimi. Compared to the first five months of 2023, exports of fish cakes and surimi to Lithuania and Italy have skyrocketed by 141% and 103%, respectively, while exports to France have decreased by 45%.
The demand for fish cakes and surimi is increasing. However, the surimi industry is facing challenges such as the preservation process of caught fish, environmental wastewater, and a skilled labor shortage. If these issues are resolved, Vietnam's fish cake and surimi exports will continue to grow.