(vasep.com.vn) Maintaining its proportion of over 30% in surimi exports from Vietnam, South Korea has been Vietnam's biggest market for this item and potentials are still seen.
Vietnam surimi exports to South Korea in the first 4 months of the year reached US$ 27.15 million, up 8.7% from the same period in 2014. Exports to South Korea accounted for 31.6% of total exports.
Statistics from the International Trade Centre (ITC) shows that in the first quarter of 2015, South Korea imported surimi from 10 countries, 5 of which are ASEAN countries. Total surimi import value of this market was US$ 42.4 million, reporting an increase of 12.8%. Imports from ASEAN countries accounted for 69% of South Korea's total surimi imports. Vietnam, the biggest surimi exporter to South Korea was the origin for nearly half of surimi imported into this market.
Surimi imports from Vietnam nearly tripled of those from China, the second biggest supplier. Currently the surimi and surimi products of Vietnam are competing well in this market. Surimi from Vietnam is mainly tropical surimi, known as Itoyori.
Overall seafood consumption in Korea is high. According to the USDA, each Korean consume 54.9 kg per year in 2012. A year later, it grew by 1.4 kg. The good growth ensures that there are still many opportunities boost seafood exports to this market.
Vietnam and South Korea has officially signed Free Trade Agreement earlier this year. This will also motivate surimi exports of Vietnam to this market in the future.
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Surimi exports from Vietnam (Unit: US$ millions)
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|
Market
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Jan 2015
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Feb 2015
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Mar 2015
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Apr 2015
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Jan- Apr 2015
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Percentage in total exports (%)
|
Variation (%)
|
|
South Korea
|
9.379
|
3.961
|
4.767
|
9.041
|
27.148
|
31.6
|
8.7
|
|
ASEAN
|
7.090
|
3.749
|
5.837
|
7.735
|
24.41
|
28.4
|
9.1
|
|
Thailand
|
5.177
|
2.416
|
4.388
|
6.351
|
18.333
|
21.3
|
20.4
|
|
Singapore
|
1.151
|
0.887
|
0.865
|
0.954
|
3.857
|
4.5
|
-14.9
|
|
Malaysia
|
0.692
|
0.446
|
0.562
|
0.401
|
2.101
|
2.4
|
-19.4
|
|
Japan
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2.687
|
2.183
|
1.717
|
3.655
|
10.241
|
11.9
|
7
|
|
China
|
3.162
|
0.888
|
1.242
|
4.035
|
9.326
|
10.9
|
1.9
|
|
Hong Kong
|
0.150
|
0.063
|
0.03
|
0.141
|
0.383
|
0.4
|
-16
|
|
EU
|
1.164
|
0.976
|
1.166
|
1.897
|
5.203
|
6.1
|
-31.7
|
|
France
|
0.643
|
0.576
|
0.265
|
1.619
|
3.104
|
3.6
|
-13.1
|
|
Lithuania
|
0.206
|
0.196
|
0.515
|
|
0.917
|
1.1
|
-42.7
|
|
Italy
|
0.063
|
0.156
|
0.155
|
0.063
|
0.436
|
0.5
|
12.1
|
|
Russia
|
1.042
|
1.287
|
2.133
|
0.189
|
4.651
|
5.4
|
47.5
|
|
Taiwan
|
1.085
|
0.678
|
0.876
|
0.755
|
3.395
|
3.9
|
-4.9
|
|
The US
|
0.095
|
0.164
|
0.09
|
0.139
|
0.488
|
0.6
|
8.3
|
|
Other
|
0.263
|
0.313
|
0.353
|
0.157
|
1.087
|
1.3
|
-40.8
|
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Total
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25.966
|
14.199
|
18.182
|
27.602
|
85.949
|
100
|
3.9
|