(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
Among more than 35 markets, South Korea, Thailand, China, Japan, and the EU are the five largest importers of Vietnamese fish cakes and surimi, accounting for more than 78% of total export turnover. Compared to the same period in 2023, exports to these markets, except the EU, decreased compared to the same period.
According to businesses, fish cake and surimi exports are still in a difficult period because the IUU yellow card issue creates jobs, certification of exploited seafood for production and export is slow, businesses lack domestic raw materials and face difficulties with imported raw materials due to regulations related to IUU... All of these factors are holding back the recovery of the Vietnamese fish cake and surimi industry.
At the same time, the growing volume of pollock surimi in the weakened global market is a recipe for surimi companies. In the next few years, pollock surimi will likely use tropical fish parts unless there is a recovery in consumption demand. This can only happen if there are new markets.