Vietnam remains largest shrimp supplier to Japan
VOV.VN - Vietnam remains the largest shrimp supplier to the Japanese market, accounting for a market share of 23.7%, according to figures released by the Vietnam Association of Seafood Exporters and Producers.
Statistics indicate that as of July 15, Vietnamese shrimp exports to the Far East nation dropped by 29% to US$256 million against the same period from last year.
Japan purchased shrimp products worth a total of US$236 million from the country in the first half of this year, marking an annual decline of 29%.
The fall in local shrimp exports to the Japanese market throughout the reviewed period can mainly be attributed to the recent sharp depreciation of the JPY.
Among the three main groups of shrimp exports to the Japanese market, white-leg shrimp and black tiger shrimp accounted for 63.5% and 17.9%, respectively, while other types of shrimp made up 18.6%.
The first half of the year saw the average export price of frozen white-leg shrimp to Japan range between US$6.5 and US$10.3 per kilo, while that of frozen black tiger shrimp hovered around US$14.1 and US$17.7 per kilo.
Some of the largest shrimp exporters to this market were firms such has Sao Ta Food Joint Stock Company, Hai Viet Joint Stock Company, Minh Phu Seafood Group Joint Stock Company, and Minh Phu Hau Giang Seafood Joint Stock Company.
In the Japanese market, Vietnamese shrimp must compete with Indian and Ecuadorian shrimp. According to data compiled by the International Trade Center (ITC), during the initial five months of the year, Japan increased imports from both India and Ecuador, with a proportion of 43% and 20%, respectively.
However, Vietnam remained the leading supplier of shrimp to Japan, accounting for a market share of 23.7%, followed by Thailand with 17.7%, India with 14.5%, and Ecuador with 2.1%.
