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Shrimp exports. (Photo: VASEP)

Japan becomes main Vietnamese shrimp importer

  (VIET NAM, 5/18/2017)

In the first quarter this year, Vietnamese shrimp exports to Japan experienced a year-on-year increase in value of 29.6 per cent, to USD 135.4 million, reported the Vietnam Association of Seafood Exporters and Producers (VASEP). 

According to VASEP, this significant growth, which turns Japan into the largest market for Vietnamese shrimp, was due to the rise of the yen, encouraging Japanese enterprises to move to imported shrimp, VNS reported.

Furthermore, it explains that another reason to account for the rise in Vietnamese shrimp exports to Japan is the fact that Japanese consumers tend to switch to cheaper seafood, which has increased the demand for shrimp as they are more affordable than other seafood such as tuna, salmon and squid.

Official statistics reveal that in the high-end market segment, the demand for giant tiger prawn and shrimp with head on is also rising.

VASEP recalls that earlier this year, the average price of Vietnamese shrimp exported to Japan was USD 12 per kilo, while Indonesia’s rate was USD 11 and Thailand’s USD 10.

Although Vietnam’s average price is higher than that of competitors in the region, exports to Japan saw significant growth, higher than both Thailand (13.9 per cent) and Indonesia (2.4 per cent).

On the other hand, VASEP informs that in the first three-month period, Việtnam exported shrimp to 68 markets with the top 10 including Japan, the EU, the US, China, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland, which together account for 95.4 per cent of Vietmam’s shrimp exports.

There has been a change in the position of these top 10 shrimp importers, with Japan replacing the US to become the largest importer, the EU holding its previous position at No 2, and the US taking the third position.
 
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