According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of the end of November 2021, fish cakes, surimi are seafood products with a high growth rate, reaching  USD 381 million, 28% higher than the same period last year. Export turnover of fish cakes, surimi to the US increased by 172% over the same period last year.

In 2020, fish cakes and surimi products only accounted for 3.9% of seafood export turnover, but this year thanks to a strong recovery, the proportion of this product is up to 4.8%. The Covid-19 pandemic is considered a factor driving the demand for fish cakes and surimi products in markets.

Vietnam sells fish cakes and surimi to about 40 markets around the world. However, the large proportion is mainly in the three markets of South Korea, Thailand and China, accounting for 23%, 21% and 13% respectively. While exports to South Korea and China only grew in single digits, to Thailand increased by 39%.

The next markets include Japan, Russia and Malaysia. As of the end of November, turnover to these three markets all increased by 26%, 68% and 52% respectively.

Several markets recorded a 3-digit increase, of which the US increased by 172% over the same period last year, Lithuania was 111% higher than the same period in 2020.

Currently, Vietnam has about 100 enterprises exporting fish cakes and surimi products. At the top is Dalu Surimi Import-Export Co., Ltd, which accounts for about 12% of the total sales of the country. Next is Ca Mau Seafood Processing and Services Joint Stock Company (CASES), accounting for 9% and Tac Cau Seafood Joint Stock Company accounting for 7%.

Kylie Nguyen