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SURIMI & SURIMI SEAFOOD IN ASEAN MARKET STATUS & CONSUMERS’ TRENDS May 31, 2018

Korea-ASEAN International Seafood Symposium Bangkok, THAILAND

Global SURIMI LEADER Dr. CHEONG-IL JI

Webpage www.surimiproducts.com Address

1/74-75 Samutsakorn Industrial Estate, Rama II Rd., Moo 2, Thasai, Muang, Samutsakorn 74000 THAILAND

J/V between Korea and Thailand, established in Y1990 An affiliate company and factory in Poland Main products lines are world-class varieties of Surimi Seafood All types are available for ready-to-eat/cook, sushi, hot-pot, noodle, cold dishes and salad etc. Trading across the five major oceans and in all six continents of the entire world

VISION: World Front-runner Company in Surimi Seafood Industry MISSION: To Create & Realize New Value of Surimi Business

THAILAND * LUF-THAI

POLAND * LUF-EURO

1

1

WHAT ARE SURIMI & SURIMI SEAFOOD?

PLANT TYPES FOR SURIMI PRODUCTION

5

2

FISH RESOURCES FOR SURIMI

GLOBAL SUPPLY & DEMAND

6

3

FISHING AREAS & GEARS OF SURIMI FISHES

SEAFOOD PROCESSING IN ASEAN

7

4

HOW TO MAKE SURIMI & SURIMI SEAFOOD

SURIMI & SURIMI SEAFOOD IN ASEAN

8 2

01

WHAT ARE SURIMI & SURIMI SEAFOOD

3

MINCED FISH, FROZEN SURIMI AND SURIMI SEAFOOD • Surimi and Surimi Seafood Product process in general & its terminology

RAW FISHES • Heading & Gutting • Meat Separation

MINCED FISH • Washing • Refining • Dewatering

Raw Fishes

RAW SURIMI

Minced Fish

• Mixing Cryo-protectants • Freezing

FROZEN SURIMI • Mixing with Salt & Ingredients • Heat Processing

SURIMI SEAFOOD Frozen Surimi

Surimi Seafood 4

WHAT IS SURIMI • Japanese: 擂り身 or すり身, literally “ground meat”. A paste made from fish or other meat

Surimi is refined and stabilized Fish Myofibrillar Proteins, a wet concentrate of the fish muscle proteins • obtained from mechanically deboned fish flesh that is washed with water, where all oil, blood and soluble proteins are removed • finally blended with cryoprotectants to protect the proteins from denaturation and aggregation during frozen storage * Processes: heading > gutting > filleting > deboning > washing > dewatering > refining > mixing with cryoprotectants, and freezing • possesses enhanced gel-forming, water-holding, fat-binding, and other functional properties relative to minced fish

Surimi is an intermediate product • produced in compact blocks, conveniently and economically transported, stored and handled • used in a variety of products ranging from the traditional “Kamaboko” products of JAPAN to various surimi seafood products

5

WHAT IS SURIMI SEAFOOD • ASEAN countries, global processors of warm water fish frozen surimi and wide variety of surimi seafood

CRAB STICK

FRIED-KAMABOKO

FISH BALL

CHIKUWA

SHRIMP

6

PRODUCTION OUTLINE FOR VARIOUS SURIMI SEAFOOD • Its classification

Fishery products

Frozen surimi

Filleting, mincing, and washing

Thawing

Washed fish meats

Thawed surimi

Grinding with 1-3% NaCl and other ingredients

SURIMI PASTE Shaping and setting

Steaming

Roasting

STEAMED KAMABOKO

ROASTED KAMABOKO

• Odawara kamaboko • Konbumaki kamaboko

• Yakinuki kamaboko • Chikuwa • Sasa-kamaboko

Boiling

BOILED KAMABOKO • Hanpen • Fish balls

Deep frying

DEEP-FRIED KAMABOKO • Tempura • Satsuma-age • Tsuke-age

NOTE 1. Even though various products with different names are made using surimi, they are often called KAMABOKO regardless of their classifications. 2. Three (3) important steps for Quality Control of Products, according to various industry experts in JAPAN A. Selection of fresh fish or frozen surimi B. Preparation of homogenous surimi paste by grinding surimi with NaCl under appropriate conditions C. Regulation of the heating process for the formation of preferable texture 7

02

FISH RESOURCES FOR FROZEN SURIMI

8

WARM WATER FISHES FOR SURIMI • Mainly from CHINA, VIETNAM, THAILAND, INDIA > Over 90%

Global Surimi Production in Y2017: About 808,200 MT

* Warm water fish surimi: 66% (or 530,000 MT)

ITOYORI

실꼬리돔류

THREADFIN BREAM

Nemipterus spp.

KINTOKIDAI

뿔돔류

BIGEYE SNAPPER

Priacanthus spp.

ESO

매퉁이류

LIZARD FISH

Saurida spp.

TACHIUO

갈치류

RIBBON FISH/HAIR TAIL

Trichiurus spp.

HIMEJI

촉수류

GOAT FISH/RED MULLET

Upeneus & Parupeneus spp.

SHIRO-GUCHI

민어류

WHITE CROAKER

Pennahia & Johnius spp.

RENKODAI/HIREKODAI

도미류

SEA BREAMS

Dentex spp. / Evynnis spp.

TOBIUO

날치류

FLYING FISH

Cypselurus spp.

KUROSAGI

게레치류

SILVER-BIDDY

Pentaprion & Gerres spp.

HAMO

갯장어류

PIKE-CONGER EEL

Congresoxs spp.

KAMASU

꼬치고기류

BARRACUDA

Sphyraena spp.

KLATHI

쥐치류

LEATHER JACKET

Stepphanoleptis & Navodon spp.

MIXED

잡어

MIXED FISHES

9

COLD/MODERATE WATER FISHES FOR SURIMI • Mainly from USA

Global Surimi Production in Y2017: About 808,200 MT

* Cold/Moderate water fish surimi: 34% (or 278,200 MT)

ALASKA POLLOCK * WALLEYE POLLOCK

Theragra chalcogramma

NORTHERN BLUE WHITING

Micromesistius poutassou

SOUTHERN BLUE WHITING

Micromesistius australis

PACIFIC COD

Gadus macrocephalus

PACIFIC WHITING * HAKE

Merluccius productus

HOKI

Macruronus spp.

ARROW-TOOTH FLOUNDER

Atheresthes stomias

10

PELAGIC DARK-FLESH FATTY FISHES FOR SURIMI • A migratory of deep-sea fishes with small dark-flesh fatty fishes

ATKA MACKEREL & SARDINE (JAPAN)

Pleurogrammus azonus

JACK MACKEREL (CHILE)

Trachurus murphyi

INDIAN MACKEREL (SE ASIA)

Rastrelliger kanagurta

INDIAN OIL SARDINE (MAMAKARI, SE ASIA)

Sardinella longiceps

SARDINE & SARDINELLA (MOROCCO, G/S 300-500)

Sardinella spp.

ANCHOVY (PERU)

Engraulis ringens

SALMON (ALASKA)

Oncorhynchus gorbuscha

11

OTHER FISH RESOURCES FOR SURIMI • Squid and aquafarm fishes

GIANT SQUID (PERU) AQUA-FARM FISHES . SILVER CARP (CHINA) . PANGASIUS SPP. (VIETNAM, THAILAND)

12

03

MIDWATER TRAWLING FOR ALASKA POLLOCK

FISHING AREAS & GEARS OF SURIMI FISHES

13

RAW FISHES FOR SURIMI & CATCHING AREA • Global supply

Northern blue whiting (NBW) Alaskan pollock Atka mackerel

Atlantic cod

Pacific whiting (Hake) Gulf menhaden

Silver carp Hairtail Arrowtooth flounder

Seabream Itoyori Kinmedai Sardine

Giant squid

Eso Jack mackerel

Guchi

Himeji

Barracuda Silver biddy

Hoki

Southern blue whiting (SBW)

FAO Major Fishing Areas 14

FISHING GEARS • For surimi fishes > Midwater trawl + Bottom trawl + Purse seine

1. Prawn Trap 2. Dive 3. Groundfish Bottom Longine 4. Shrimp Beam Trawl 5. Groundfish Otter Trawl 6. Midwater Trawl 7. Hook & Kine 8. Purse Seine 9. Midwater Gillnet (* Salmon) 10. Pelagic Longline (* Swordfish) 11. Harpoon (* Swordfish) 12. Purse Seine 13. Bottom Trawl 14. Offshore Hydraulic Dredge (* Clam) 15. Dredge (* Scallop) 16. Pot and Trap (* Lobster) 17. Bottom Gillnet (* Groundfish) 18. Bottom Longline (* Groundfish) 19. Pot and Trap (* Crab pots) 20. Dive

15

04

HOW TO MAKE SURIMI & SURIMI SEAFOOD

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CONVENTIONAL SURIMI PRODUCTION PROCESS • www.alfalaval.com © Alfa Laval

H&G WHITEFISH Meat Separator

Discharged skin and bones

Mince Add water

Add water

Add water

Leaching tank Dewatering Screens

Water to waste

Dewatering screens

Water to waste

Dewatering screens

Water to waste

Leaching tank

Leaching tank

Mince

1st Refiner

2nd refiner

Mince

Mince

Screw press

Screw press

PRIMARY GRADE

SECONDARY GRADE

Discharged skin, bones & connective tissues

17

PRODUCTION FLOW CHART OF TYPICAL CRAB STICK • Steamed & Crab-flavored seafood stick, Kani Kamaboko, Kanikama,カニカマ, 게맛살

Frozen storage (Surimi) Temper or flake (Frozen surimi)

Dry ingredients

Water

Comminuting Film removal Cutting

Color co-extrusion

Sheet extrusion

* Eliminates color wrapping

1st cooking Cooling Slitting

Packaging Metal detection Pasteurization

Bundling Color wrapped in film

Wrapping

Cutting

* 3 HACCP CCPs CCP: CRITICAL CONTROL POINT

Chilling

Freezing

Flake, stick 2nd cooking (Color setting Cooling

Frozen products

Chilled products

18

05

PLANT TYPES FOR SURIMI PRODUCTION

19

1. OFFSHORE SURIMI PLANT • A Factory Trawler for Alaska pollock surimi production in Alaska, USA. © American Seafoods Company, LLC

Surimi Production

Holding

Weighing & Sorting

Filleting

Block Packing

Roe Grading & Packing

Freezing

Frozen Cold Storage

Boxing

Fish Oil & White Fish Meal Production

20

DEWATERING

BLENDING

FRESH FISH HOLDING AND SORTING

HOLD

FILLETING AND MINCING REFINING WASHING

PRESS

FREEZING

CASE-UP AND STOWAGE

21

2. ONSHORE SURIMI PLANT 01/03 • An Onshore Plant for Alaska pollock surimi production in Alaska, USA. © Westward Seafood, Inc. Surimi processing flow 01/03.

1. Arrival of Fishing boat with full loaded of Fresh Pollock

2. Connected fish pump to Fishing boat and sucking with fish with water

3. Separation by catch fish and debris to drop out of Pollock

4. Sorting fish to five (5) size by Main sorting roller

5. Filleting machine : BAADER and Butterfly filleting machine TOYO

6. Auto fish insert machine (Oscillator) for TOYO with Heads up direction 22

2. ONSHORE SURIMI PLANT 02/03 • An Onshore Plant for Alaska pollock surimi production in Alaska, USA. © Westward Seafood, Inc. Surimi processing flow 02/03.

7. Butterfly fillet by TOYO, Filleting speed is max. 280 fish/min

8. After Meat Separator, send to Meat wash tank for rinsed fish meat

9. After rinsed fish meat, send to dewatering rotary screen for adjustment moisture of meat

10. Remove small bone, black skin and unnecessary part of meat by Refiner

11. De water process by Screw Press machine to targeted moisture of meat

12. Mixing with ingredients of Surimi by Silent Cutter machine 23

2. ONSHORE SURIMI PLANT 03/03 • An Onshore Plant for Alaska pollock surimi production in Alaska, USA. © Westward Seafood, Inc. Surimi processing flow 03/03.

13. Wight check and filling bag then into freezing pan

14. Quick freezing by Plate freezer less than two (2) hours

15. After removed freezing pan, thru to X-Ray machine and Metal Detector for inspection

16. Packed with two blocks into a box and printed production date, Lot number, Grade as required

17. Quality control for fish freshness, temperature, bacteria, etc, during 24hours by special skilled stuff

18. Gel strength testing to each lot sample for grading by special skilled stuff 24

3. INLAND SURIMI PLANT • Typical process for warm water fish surimi production In SE Asia

1. INCOMING RAW FISHES

Fish Washing I & De-scaling

2. HEADING & GUTTING

Fish Washing II

PRE-PROCESSING

3. MEAT SEPARATING

4. MEAT WASHING I

Screening I

Leaching I

MEAT WASHING II

Screening II

Leaching II

MEAT WASHING III

Screening III

PROCESSING 5. REFINING

6. DEHYDRATING

7. MIXING

Forming

Panning

8. FREEZING

De-panning

Metal Detecting

9. COLD STORAGE

Shipping

Packing & Labeling

25

06

GLOBAL SUPPLY & DEMAND OF SURIMI & SURIMI SEAFOOD

26

GLOBAL SURIMI PRODUCTION • about 808,200 MT in Y2017 > 65% from ASIA: warm water fish surimi 530,000 MT (66%) + cold/moderate water fish surimi 278,200 MT (34%) The 3rd Surimi Forum JAPAN. February 2018. Tokyo, JAPAN

Alaska Pollock 237,000 MT (* 207,000 USA + 30,000 Japan + 0 Russia) N. Blue Whiting 3,200 MT

Atka Mackerel 0 MT

Silver Carp (F/W) > 50,000 MT Pacific Whiting (Hake) 30,000 MT

Threadfin Bream & Other Tropical Fishes 480,000 MT

Giant Squid 0 MT

S. Blue Whiting Jack Mackerel 0 MT

Hoki 8,000 MT Hoki

0 MT

    

Thailand 52,000 India 95,000 China 160,000 Vietnam 160,000 Others 13,000

* Indonesia 40,000 + Malaysia 20,000 + Pakistan 5,000 + Myanmar 2,000 in Y2017 (est.)

27

GLOBAL SURIMI & SURIMI SEAFOOD MARKET • surimi 831,000 MT + (surimi seafood) 2.7 Mil. MT in Y2017. slowly growing up 2-3% YoY The 3rd Surimi Forum JAPAN. February 2018. Tokyo, JAPAN

EU USA

50,000 (150,000)

35,000 (100,000)

E-Europe

S-KOREA

20,000 (80,000)

120,000 (350,000)

CHINA MIDDLE EAST 0 (5,000)

200,000 (1,200,000)

JAPAN 280,000 (540,000)

SE ASIA AFRICA

S-AMERICA 1,000 (5,000)

0 (5,000)

100,000 (240,000)

OCEANIA 0 (5,000)

Note * Surimi + (Surimi Seafood)

28

SEAFOOD BIZ CIRCUMSTANCES • Global Fisheries & Seafood Industry faces “Multiple & Interlinked Challenges”

29

THE SEAFOOD CONSUMERS WANT … • The major tastes and preferences of consumers in food consumption, as well as expected changes

Safety & Quality

Ethics * Corporate social responsibility (CSR)

Convenience

Information

Nutritious & Healthy Benefits

Food Origin + Natural & Fresh

Ethnic

Sustainability

Production system & Innovations

30

GLOBAL SURIMI SEAFOOD MARKET TRENDS • Healthy & tasty seafood at Japanese style sushi restaurants, deli and hot pot shops and CVS + Salad & snacking

• Sugar 50% less

• Allergens (* Egg) free

• Premium quality crabstick for sushi

• Snacking

• DHA enhanced

• Hot pot

• Snacking at CVS

• Sodium 30% less

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07

SEAFOOD PROCESSING IN ASEAN

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ASEAN ECONOMIC COMMUNITY (AEC) AT A GLANCE • The fish production in ASEAN, expected to reach 24% of global output by 2030 > in ASIA, around 70% of global fish consumption by 2030

33

ASEAN ECONOMIC COMMUNITY (AEC) • Potentials in ASIA: It’s emerging economy Fact Sheet-ASEAN Economic Community, 2018

34

SEAFOOD PRODUCTS OF SE ASIA • Globally significant

CANNED TUNA & SEAFOOD

SURIMI & SURIMI SEAFOOD

SHRIMPS 01

02

08

READY-TO-EAT/COOK

03 07

SALMON

04 06

05

PET FOOD

FISH SNACK

SPECIALTY SEAFOOD

FISH SAUCES 35

08

SURIMI & SURIMI SEAFOOD IN ASEAN

36

SURIMI PRODUCERS, THAILAND • 14 factories, 52,000 MT (Do. 27,520 * 52% + Ex. 24,980 * 48%) in Y2017 * Markets > Local, Japan, EU/Russia, Korea, Singapore, Hongkong The Department of Fisheries (DOF), Thailand Surimi Forum JAPAN, 2018

BANGKOK 1 01. B.S. Manufacturing Co., Ltd. (BS)

SAMUTSAKHON PROVINCE 7 02. Apitoon Enterprise Industry Co., Ltd. (API) 03. Andaman Surimi Industries Co., Ltd. (ASI) 04. Anusorn Mahachai Surimi Co., Ltd. (AMS) 05. Pacific Marine Food Products Co., Ltd. (PAM)

01

06. Sea Royal Marine Food Product Co., Ltd. (SRM) 02-08

07. Starfish Co., Ltd. (STF) 08. Lucky Food (Thai) Co., Ltd. (LFT)

SOUTHERN AREA 6 09. Siamchai International Food Co., Ltd. (SIFCO), Ranong

09

10. Kantang Seafood Co., Ltd. (KSF), Trang 11. Thaveelarp Fisheries Ltd. Part (TVL), Trang 12. Buyoung General Co., Ltd. (BG), Songkhla

12-13 10-11

13. Man A Frozen Foods Co., Ltd. (Man A), Songkhla 14

14. Chaicharoen Marine (2002) Co., Ltd. (CMR), Pattani

37

SURIMI SEAFOOD (* CRAB STICKS) PRODUCERS, THAILAND • 10 factories, 124,500 MT (Crab sticks 95,000 + Fish cake/ball 22,000 + Dried fish snack 7,500) in Y2017 The Department of Fisheries (DOF), Thailand Anucha Techanitisawad, Andaman Surimi Industries Co., Ltd., Thailand

BANGKOK 1 01. B.S. Manufacturing Co., Ltd. (BS)

TH 1067

SAMUTSAKHON PROVINCE 8 02. Lucky Union Foods Co., Ltd. (LUF) 03. A.P. Frozen Foods Co., Ltd. (APF) 04. A&N Foods Co., Ltd. (A&N) 05. Kibun (Thailand) Co., Ltd. (KIBUN) 06. Smile Heart Foods Co., Ltd. (SHF) 07. Thaveevong Industry Co., Ltd. (TVI) 08. Big Kitchen Co., Ltd. (BK) 09. Starfoods Industries Co., Ltd. (SF)

01

TH 1004 TH 1026 TH 1001 TH 1100 TH 1180 TH 1161 TH 3124 TH 1183

02-09

SONGKHLA PROVINCE 1 10. Pacific Fish Processing Co., Ltd. (PFP)

TH 1070

Thai Domestic Consumption, upstream * Sales of local surimi seafood: 61,000 MT (‘16) > 64,800 MT (‘17) * Market expansion into the neighboring countries . Cambodia, Vietnam, Laos and Myanmar, New AEC markets 10

Total Export Sales of Surimi Seafood, increased * 45,000 MT (‘16) > 52,200 MT (‘17)

Social & Environmental Aspects of Sustainability, improved * Forced labor, human trafficking, fisheries management, and overfishing etc. in seafood supply chain etc.

38

SURIMI PRODUCERS, VIETNAM • About 40 factories, 160,000 MT in Y2017 * Markets > Korea, Japan, Thailand, EU, Singapore, China

M AIN F ISHING P ORTS & S URIMI F ACTORIES

A Core Country for Tropical Surimi Production . A fast growing economy and market in AEC Surimi Factories, about 40 . Vung Tau, Kien Giang, Ca Mau, Da Nang, Quang Tri, Tra Vinh-Ben Tre, Can Tho, Ham Tan, Thanh Hoa, Hai Phong etc.

H AI P HONG

T HANH H OA

Surimi Seafood Factories, about 5 . Da Nang, Vung Tau, My Tho, Bac Lieu

D A N ANG -Q UANG T RI

Main Fish Species for Surimi . Northern & Middle Area: Hirekodai, Flying fish * Fishing trips are short > Fresh fishes . Southern Area: Itoyori, Eso, Hairtail, Guchi, Himeji * Baria Vung Tau: 15-20 days fishing trip * Kien Giang + Ca Mau: 5-7 days fishing trip

Hireko-dai C AN T HO

V ARIA V UNG T AU

K IEN G IANG

C A M AU

T RA V INH -B EN T RE

39

SURIMI PRODUCERS, INDONESIA • 15 factories, 40,000 MT in Y2017 * Markets: Japan, Korea, Taiwan, Singapore, Malaysia, Thailand

01-02

03

04

05-10

15

11-14

SUMATERA 3 01. PT. Pulau Mas Moro Mulia, Kepulauan Riau

02. PT. Lee Seng, Moro island (* small)

JAVA 11 04. PT. Java Seafood (JSF), Indramayu, West JAVA 06. PT. Blue Sea Industry, Pekalongan, Central JAVA 08. PT. Holi Mina Jaya, Rembang, Central JAVA 10. PT. Bintang Karya Laut (KML Food), Rembang, Central JAVA 12. PT. Southern Marine Products, Probolinggo, East JAVA 14. PT. Tridaya Jaya Manunggal, Pasuruan, East JAVA

03. PT. Sumber Laut Utama, Jambi

05. PT. Nam Kyung Korea Indonesia (NKI), Tegal, Central JAVA 07. PT. Sinar Bahari Agung, Kendal, Central JAVA 09. PT. Indo Seafood, Rembang, Central JAVA 11. PT. Starfood International (KML Food), Lamongan, East JAVA 13. PT. QL Hasil Laut, Brondong, East JAVA

PAPUA 1 15. PT. Djajanti Group, Alu island, PAPUA

The largest continental shelf area, about 2.7 Mil. KM2 , Itoyori > Kintoki-dai > Kurosagi > Himeji + Guchi + Eso etc. * Peak season for Itoyori: Oct. to Mar., for Kurosagi: Jan. to Jun. * The strong currents of government fishing restrictions, especially for bottom trawlers

40

SURIMI PRODUCERS, MALAYSIA • 9 factories, 20,000 MT in Y2017 * Markets: Japan, Taiwan, Southern China, Singapore

05-06

04

01 02

03

09 07-08

01. QL Foods Sdn Bhd., Hutan Melintang, Perak 02. Japanese Maruha/Malaysian Joint Venture, Kuala Lumpur (* for their fish sausage production) 03. QL Endau Marine Products Sdn Bhd., Padang Endau, Johor 04. Fudo Surimi Sdn Bhd., Sandakan, Sabah 05. QL Marine Products Sdn Bhd., Kota Kinabalu, Sabah 06. Global Ocean Seafood Sdn Bhd., Kota Kinabalu, Sabah (* Small) 07. Sea Horse Corp. Sdn Bhd., Kuching, Sarawak (* small) 08. Dahfa Foods Manufacturing Sdn Bhd., Kuching, Sarawak (* For their own use) * QL Group’s production in 2016 09. KTS Food Industries Sdn Bhd. (KTS group), Sibu, Sarawak . Surimi: 40,000 MT (* 25,000 in Malaysia + 15,000 In Indonesia) . Surimi seafood: 55,000 MT (* largest fish ball range manufacturer)

41

SURIMI PRODUCERS, MYANMAR • 3 factories, 2,000 MT in Y2017 * Markets: Korea, Japan, Singapore, Thailand

01. MIN ZAR NI Co., Ltd., Yangon (since Y2003) 02. Pyilonechantha Trading Co., Ltd., Yangon (since Y1994) 03. A.S.K. Andaman Limited, Myeik (since Y2005)

01-02

FISHING BAN PERIOD, JUNE-AUGUST * Coastline, 1,930 KM + Total catches, Over 4 Mil. MT in Y2014 03

RAW FISHES, ITOYORI > KINTOKIDAI > ESO > GUCHI ETC. * Recently, the raw fish landings are getting better in Yangon area * Highly fresh with short fishing journey

42

SURIMI PRODUCERS, PAKISTAN • 4 factories, 5,000 MT in Y2017 * Markets: Korea, Thailand, Japan

01. KANESIRO (PVT) Ltd., Karachi (since Y2006) 02. PK International Foods (PVT) Ltd., Karachi (since Y2015) 03. SEA ARABIAN (PVT) Ltd., Karachi (since Y2017) 04. QADRI NOORI (PVT) Ltd., Karachi (since Y2018) Itoyori

Guchi

01-04

PEAK SEASON, AUG-NOV (PEAK) > MAR-MAY (MIDDLE) > DEC-FEB (LOW) * Fishing ban period: 2 months * June 01 - July 31

RAW FISHES, ITOYORI 60% > ESO 10% > CROAKERS ETC. 30% * A competition with exporters to China & Singapore * Highly fresh and bigger size

43

SURIMI SEAFOOD MARKET IN ASEAN + • Estimate of the consumption, MT/year LUF’s Internal Info, THAILAND, 2018

1,200,000

50,000 * F ISH BALL

20,000 * F ISH BALL 18,060 65,000

3,500 * S EAFOOD 3,600 * F ISHERY

11,000 Market Growth in Y2018

PRODUCTS

50,000 * F ISH BALL

Up

Steady

16,800 44

THAILAND Market Update

High Quality Products > Snow crab leg/Osaki style/Sashimi or sushi toppings etc. • Modern Trade stores are well developed + CVS items are booming 7-Eleven (9,542 with 11.7 Mil. Customers each day) + Family Mart (1,140) + Mini Big C (391) + Big C Hypermarkets (125) + Big C Market (55) + TESCO Lotus (1,800 with 12 Mil. Customers each week) + Makro (98 with 3.0 Mil. registered customers) + Makro Food Service (17, HoReCa biz) + Siam Frozen (8, Frozen food center) • Standing out for growing economies and rising middle-classes of consumers.

Healthy Hot Pot products > Fish ball/tofu, Pre-fried fish cakes etc. Cartoon Characters Series > Kids Market

Korean/Japanese Style Oden (* Fish cake) Soup > CVS stores Chilled Market, growing up > Healthier snacking in wholesale & retail markets On-line Market and Service for Home Delivery > Fresh food, grocery & non-food products Molded, Skewered products > Street food stands • Molded Shrimp, Molded crab/lobster claw and Jumbo sticks/crab leg etc. 45

THAILAND Market Update

SEASONED & DRIED FISH SNACKS AT CVS * made from Surimi 46

THAILAND Market Update

CHILLED SURIMI CRAB STICKS AT SUPER- AND HYPER-MARKET * sold as Sashimi 47

THAILAND Market Update

CHILLED SURIMI CRAB STICKS AT CVS

* sold for Snacking with Wasabi & Soy sauces 48

INDONESIA Market Update

Surimi Seafood Market > Bulky and assortment sales for “Steam Boat” or “Suki” • Fish balls (Fish, Squid and Shrimp) etc. • Frozen or Chilled are together in the super- and hyper-market • Taiwanese style products are preferred

Japanese style restaurants are booming • Items for Sushi, sashimi or Suki etc.

Local suppliers of crab sticks > Started from Y2014 • Surimi seafood is still mainly imported from Malaysia, Thailand etc. 49

MALAYSIA Market Update

Street food

Food & Beverage market > Urban consumers are brand conscious and prefer to shop in stores. • With a Muslim population of 65%, the demand for HALAL foods has increased over the years. • Retail sector: 56% small + 43% Modern stores (supermarkets, hypermarkets & department stores) + 1% CVS • Food service sector: tend to dining out rather than dining at home

Surimi Seafood Market > 11,000 MT in Y2017 (est.) + Surimi Seafood consumption = 30-40 MT /day • Quality first + Health awareness + Steam boat items, quite popular * Fish ball, Fish cake, Kamaboko, Fish sausage, Battered & breaded, Crab sticks, Fish noodles, Chikuwa etc.

Fish balls > 2nd largest processed fish-based production after “Fish Cracker” • White and chilled one, more preferred 50

MYANMAR Market Update

Surimi Seafood Market > Highly potential growth market • For Sushi, Dim sum & Hot-pot Franchise restaurants are booming up • Local products > very colorful and diverse shapes with low-medium quality • Imported products > Medium-premium quality from Thailand and Singapore etc.

Japanese & Korean style restaurants are getting popular • Items for sushi, sashimi or oden etc. 51

LAOS Market Update

Surimi Seafood Market > Wet markets and street stands are main sales routes • Skewered and charcoal-grilled products are popular

Modernized shops, opened recently • with cold chain systems 52

Value-Creative PROCESSING & INNOVATION? The food processor makes good products that People want to eat and enjoy

53

CRISIS

CREATIVITY + CHANGE + CHALLENGE

CHANCE

54

SIMPLE

DIVERSE + VARIOUS PRODUCTS LINES

55

CLOSED·LIMITED

VISUAL·EDUCATIONAL·INFORMATIVE MARKETING & SALES

56

57

TUNA PROCESSING Mostly canned or pouch packaging, principal species for processed tuna products: Skipjack, Yellowfin, Albacore, and Southern Bluefin Tuna

Product Brochure, THAI UNION GROUP, 2017

58

BY-PRODUCTS AND ITS USAGE IN TUNA PROCESSING INDUSTRY Full utilization

Skin

Back bones

. Gelatin * capsule, jelly * healthy food & cosmetics

. Artificial bone . Dietary supplement * calcium

Eyes

Dark muscle

. EPA/DHA * healthy food

. Pet-care foods . Dietary supplement * heme-irons

Cooked water . Natural seasonings . Taurine * healthy food

Viscera . Salted & fermented products . Fish meals * fermented silage . DNA * healthy & functional food

Head/fin bones . Feed ingredients . Fertilizer 59

SARDINE & MACKEREL PROCESSING Mostly canned products

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SHRIMP PROCESSING Mostly plastic bag packaging in frozen or chilled condition, NOT immediately ready for consumption by final consumers

Product Brochure, THAI UNION GROUP, 2017

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SALMON PROCESSING In Thailand and Vietnam: particularly canned Alaska salmon for Korean market from Thailand

Product Brochure, THAI UNION GROUP, 2017

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PET-CARE PRODUCTS Mostly canned or pouch packaging, wet seafood-based cat foods, and dog food

Product Brochure, THAI UNION GROUP, 2017

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SPECIALTY SEAFOOD Pangacius shark catfishes are also significant seafood products, especially from Vietnam

Product Brochure, THAI UNION GROUP, 2017

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BAKED FISH SNACK Surimi-based seasoned & grilled fish snacks

Product Brochure, THAI UNION GROUP, 2017

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READY-TO-EAT/COOK PRODUCTS Diverse sushi topping items

Product Brochure, THAI UNION GROUP, 2017

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SURIMI & SURIMI SEAFOOD PRODUCTS SE Asian countries, global processors of warm water fish frozen surimi and wide variety of surimi seafood

CRAB STICK

FRIED-KAMABOKO

FISH BALL

CHIKUWA

SHRIMP

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