Together with other key seafood items of Viet Nam such as Pangasius, shrimp and squid, the fish paste and surimi have become an important export earner of the country in 2011.
In 2011, exports of the product grew strongly in ASEAN (respectively 167.6% in volume and 164.6% in value), the US (109.7% and 146%), and China (92.6% and 96.5%)
Demand of fish paste and surimi in Japan, EU, and ASEAN has continuously increased in the recent years. There are 19 Vietnamese enterprises exporting this item to Korea.
The ASEAN countries of Singapore, Malaysia, Thailand, Philippine are four the biggest importers of surimi and fish paste from Viet Nam while France and Latvia took the lead in EU.
The average export price of frozen fish paste and surimi increased gradually, peaking at US$2.36.
However, the exporters are facing the shortage of raw material, high input costs and credit crunch.