Shrimp exports to Japan to resume in December
Tuesday, 14/11/2023 10:16 (GMT+7)
As of October 15, 2023, Vietnam’s shrimp exports to Japan reached 388 million USD, down 28% from the same period last year, according to data from Vietnam General Department of Customs.
Shrimp exports to Japan are gradually narrowing their decline as export turnover in September 2023 decreased by 10%, the lowest decrease since the beginning of the year.
|Shrimp exports to Japan are gradually recovering. (Photo: congthuong.vn)
In the third quarter of 2023 alone, shrimp exports to Japan were valued at 135 million USD, down 26%. The decrease in the third quarter is the lowest decrease compared to the previous two quarters.
Ms. Ta Thi Kim Thu, shrimp market expert, Vietnam Association of Seafood Exporters and Producers (VASEP) said that weak demand from the Japanese market combined with sharp decline in JPY/USD are among the factors that have had a negative impact on shrimp exports from Vietnam to this country in recent times.
According to Ms. Thu, among the three main shrimp product groups exported to Japan, white-leg shrimp accounts for 64.1%, black tiger shrimp 18.5%, and the remaining 17.4%.
Unlike other markets, Japan’s export proportion of other types of shrimp is equivalent to black tiger shrimp. Export value of white-leg shrimp to the market in the first 9 months of 2023 reached 238 million USD (down 26%), export value of black tiger shrimp 69 million USD (down 40%). Export of shrimp of other types to Japan reached 65 million USD, down 20%.
Also according to Ms. Thu, the Japanese market often has a higher average shrimp selling price than other export markets of Vietnamese shrimp. This market also has limited competition and high entry barriers due to consumers’ preference for high value-added products which is the strength of Vietnam’s shrimp industry./.