The key to help Vietnamese Surimi and fish cakes conquer the international market

Vietnam's fish cake and surimi exports increased again in August. However, the increase was not large enough to offset the decline in previous months, so the cumulative export value in the first 8 months of 2024 still decreased by 10% compared to the same period, reaching 180 million USD.

Surimi and fish cake export turnover in the first 8 months of 2024 (Photo: vasep.com.vn)

Surimi and fish paste industries have become key products that contribute positively to the Vietnamese fisheries economy. These are typical products that create a circular economic chain of the fisheries industry. Surimi production mainly relies on raw materials from trash fish such as scad, alum fish, flying fish and tra fish waste, helping to maximize resource utilization and minimize waste.

Surimi products and fish cakes, sausages, and crab sticks are increasingly popular with consumers thanks to their high nutritional value and variety in processing. With the support of international transportation services, Vietnam earns from 300 to 420 million USD each year from surimi exports, accounting for about 4 to 5% of the country's total seafood export turnover.

Fishmeal, a by-product of the seafood processing industry, is equally important. Each year, Vietnam produces 530,000 - 540,000 tons of fishmeal, of which 200,000 - 280,000 tons are exported. Fishmeal not only serves the domestic livestock industry but is also an important raw material for aquatic feed. As a result, fishmeal export turnover in 2023 will reach about 120 - 130 million USD.

Despite the many opportunities, the surimi and fish paste industry still faces many challenges. Surimi exports in the first 8 months of 2024 decreased by 10% compared to the same period last year, reaching only 180 million USD. The reason is the decline in the consumer market and fierce competition from other countries. To overcome this, the industry needs to optimize production processes, improve product quality and ensure food safety.

Vietnam's surimi products are currently exported to 30 markets around the world. According to the business, the export of fish cakes and surimi is still in a difficult period and the IUU yellow card issue has caused the certification of seafood exported to the EU to stagnate, businesses lack domestic raw materials and have difficulty importing raw materials due to regulations related to IUU... All these factors are hindering the recovery of the fish and surimi industry.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), when the global economy recovers, the demand for surimi and fishmeal will increase again. In particular, surimi dishes are increasingly popular in Asian cuisine thanks to their nutritional value and processing diversity. This opens up a great opportunity for the industry to achieve its export target of 1 billion USD in 2024.

To realize this goal, businesses need to continue investing in product research and development, improving quality and ensuring food safety. At the same time, it is necessary to strengthen links between businesses in the supply chain, from production, transportation to export.

Source: https://congthuong.vn/chia-khoa-giup-surimi-va-cha-ca-viet-nam-chinh-phuc-thi-truong-quoc-te-347698.html