Vietnamese Shrimp Leading in Japanese Market

24 February 2016, at 12:00am

VIET NAM - Viet Nam's shrimp exports to Japan - the second largest shrimp market of Viet Nam recorded US$584 million in 2015, rising 21.4 per cent compared with 2014.

Viet Nam's shrimp exports to Japan increased steadily from June to October thanks to rising demand for Festival season late in the year; exports reached the highest value in October with US$61.4 million. Compared with the same period in 2014, Vietnam shrimp exports to Japan in May 2015 had the lowest growths compared to the rest of the year.

According to the World Trade Centre, in 2015, total shrimp imports into Japan totalled 213.7 thousand tonnes, valued at US$2.3 billion, a reduction of 4 per cent in volume and 18 per cent in value compared to 2014.

Shrimp imports into Japan in 2015 dropped due to the economic recession, the yen devaluation, and higher import prices, which made the Japanese importers reduce orders.

The average price of shrimp imported into Japan in 2015 dipped 14.5 per cent to $10.6 per kg. Among the five main shrimp supplies for Japan, the average price of imported shrimp from Viet Nam fetched the highest price of $11.4, whilst prices of shrimp imports from China were the lowest.

According to the World Trade Centre, in 2015 Viet Nam was still the largest shrimp supplier to Japan, accounting for 25 per cent of the total import the shrimp into the market. Thailand stood second with 16.6 per cent. Indonesia and India in turn hold third and fourth place with 16 per cent and 13.3 per cent respectively.