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Export of Vietnam surimi grew well
April 02, 2019, 04:01 PM
(seafood.vasep.com.vn) By the end of 2018, Vietnam's export of surimi grew well with the export value to major markets growing at double- digits.

The total value of Vietnamese surimi exports last year reached nearly US$ 324 million, an increase of 26.5% compared to 2017. Only in 3/2018, exports of this product decreased compared to the same period last year, In the remaining months of 2018, the value of exported  surimi were positive. The last quarter of 2018, Vietnam exports of surimi reached the highest value and the fastest growth rate. Export value of this item in the fourth quarter of 2018 reached US$ 102.4 million, an increase of 36% over the same period in 2017.

In 2018, Vietnamese surimi exports to main markets in general increased compared to 2017. Korea, ASEAN, Japan, China, Russia, Taiwan, EU and the US continued to be Vietnam's largest surimi importing markets. In the eight major import markets, Vietnam's surimi exports to China and EU decreased by 8% and 25.5% respectively. Exports to other markets all grew at double digits.

South Korea

In 2018, Vietnam surimi exports to South Korea grew continuously. Surimi export value to this market increased 32.2%, reaching US$ 108.6 million. With a good growth rate, Korea has risen to become the largest surimi import market of Vietnam, accounting for 33.5% of Vietnam's total export value of surimi to markets.

Vietnam is still leading in exporting surimi for South Korea. In general, Vietnam’s surimi products are still competitive.

ASEAN

In 2018, surimi exports from Vietnam to ASEAN countries continued to grow. Vietnam's exports value of surimi to ASEAN in 2018 reached US$103.9 million, an increase of 36% compared to 2017. Vietnam remained to be a main supplier of sumiri for this market.

Japan

In 2018, surimi exports to Japan continued to increase by 41.2%, reaching US$38.8 million. Vietnam continues to be the fifth largest source of surimi for the Japan, behind Thailand, Norway, India and China. Currently, Vietnam still has only a small market share in the market.

EU

Surimi exports to EU market is expected to continue to be unfavorable due to the impact of the IUU yellow card by the EU. However, export to other markets will still be positive. It is forecasted that surimi export of Vietnam in 2019 will continue to maintain stable growth.

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