(seafood.vasep.com.vn) In the first 6 months of 2016, Vietnam surimi exports reached over US$115 million, down 17% year on year.
As of June 2016, Vietnam exported surimi products to 28 countries worldwide. Top 8 major importing markets, including South Korea, ASEAN, Japan, the EU, China - Hong Kong, Russia, Taiwan and the U.S, still accounted for over 98% of total export value of Vietnam surimi. Exports to these major markets witnessed the decline.
South Korea
In the first half of 2016, Vietnam surimi exports to South Korea hit nearly US$37 million, down 14.9% year on year. Vietnam claimed as the biggest surimi supplier to this market.
ASEAN
In Jan-Jun 2016, Vietnam surimi exports to ASEAN reached US$26 million, down 35.7% over the same period last year. Thanks to the favorable geographical location and favorable conditions for commercial transactions, Vietnam has a good advantage in exports and stays as the main supplier to the region.
Japan
In the first 6 months of 2016, Vietnam surimi exports to Japan valued over US$15 million, down 13% compared to the first 6 months of 2015. Currently, Vietnam occupies 7% of the market share in this market.
Tropical surimi production in the world is expected to stabilize. Thailand's production predicted to drop, so this is a good opportunity for Vietnam to increase surimi production. In addion, extensions of some foreign corporations in Vietnam also helps to raise Vietnam surimi output.
In QIII/2016, Vietnam’s exports of surimi and fish paste forecasted to recover with the growth rate of 20%.
Written by Nguyen Ha
Compiled by Dieu Thuy