Currently, Vietnam's fish cakes and surimi products have been exported to 19 markets around the world. South Korea, Thailand, CPTPP, China and the US respectively are the 5 largest import markets for this product group of Vietnam in the first two months of this year, accounting for nearly 92% of the total export turnover. In general, over the same period, Vietnam's exports of fish cakes and surimi to almost all markets have decreased.
In the Korean market, after a decline of 16% in January 2023, the export of fish cakes and surimi to this market increased again in February. However, the growth rate was quite modest, only 14%. Therefore, accumulated in the first 2 months of the year, exports still decreased by 7% over the same period in 2022, reaching nearly 13 million USD.
Along with South Korea, exports to Thailand also decreased by 12% in the first two months of the year, reaching nearly 10 million USD. Although there is no sign of recovery, the rate of decline in exports to this market has slowed down.
In the CPTPP markets, fish cakes and surimi exports also fell by 13% over the same period. However, in February, exports recovered. Specifically, exports to the largest import markets, Japan and Malaysia, both decreased in the first 2 months of the year, by 20% and 3% respectively. But in February 2023, Vietnam's exports of fish cakes and surimi to these two markets increased by 13% and 70%.
Similarly in the Chinese market, exports of fish cakes and surimi also declined by 12% in the first 2 months of the year. However, it is worth mentioning that after a sharp drop of 83% in January, exports to this market nearly doubled in February. The reopening of the Chinese market in the first month of 2023 has created an opportunity for the Chinese market. Producers and exporters of fish cakes and surimi have the opportunity to expand their exports to this market.
The demand of the markets is tending to slowly recover, so the export of fish cakes and surimi in March and April will gradually increase again compared to the first months of the year.
Compiled by Thuy Linh
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