The International shrimp price has remained high in recent years, which has significantly affected shrimp import demand in Japan, reports VASEP.
As JPY depreciated against the dollar, the Japanese market lost its attractiveness to shrimp suppliers, and Viet Nam is not an exception.
Statistics from General Customs showed that and in 2014, shrimp exports to Japan increased by only 4.9 per cent year on year.
This growth rate is much smaller than the increase in shrimp exports to the US and the EU, which are 28 per cent and 66.7 per cent , respectively. However, Japan is still the second largest consumption market for shrimp from Viet Nam.
Since mid-March 2014, Japan’s oxytetracycline (OTC) inspection was carried out on all shrimp imported from Viet Nam. OTC residue is permitted at 0.2 ppm. Though shrimp exports to Japan increased sharply by 33 per cent , a reversed trend was witnessed with negative growth of nearly 15 per cent in April.
This declining trend lasted until July and from August, shrimp exports to Japan found the recovery.
In 2014, Japan was the only market for shrimp from Viet Nam that decreased both in terms of volume and value. Argentina was the most notable shrimp source for Japan in 2014. Japan’s shrimp imports from Argentina in the first 10 months of 2014 rose by 16 per cent in volume and by 42.7 per cent in value. Along with shrimp imports from Viet Nam, imports of Thailand and Indonesia fell.