Japan becomes largest importer of VN’s shrimps

Japan becomes largest importer of VN’s shrimps

Việt Nam exported shrimp to  六 八 markets in the first quarter of  二0 一 七. — Photo vcci.com.vn

HÀ NỘI —  become the largest market for Vietnamese shrimps, accounting for  二 一. 九 per cent of the country’s shrimp export value in the first quarter of  二0 一 七.

The Việt Nam Association of Seafood Exporters and Producers (VASEP) reported that in the first three months of this year, Việt Nam’s shrimp exports to Japan reached US$ 一 三 五. 四 million, a year-on-year increase of  二 九. 六 per cent. The significant growth is because of the rise of the yen, which has encouraged Japanese enterprises to move to imported shrimp.

Also, 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.

In the high-end market segment, the demand for giant tiger prawns and shrimps with head on is also rising.

Earlier this year, the average price of Vietnamese shrimp exported to Japan was $ 一 二 per kilo, while Indonesia’s rate was $ 一 一 and Thailand’s $ 一0.

Although Việt Nam’s average price is higher than that of competitors in the region, exports to Japan saw significant growth, higher than both Thailand ( 一 三. 九 per cent) and Indonesia ( 二. 四 per cent).

The VASEP said that in the first quarter of  二0 一 七, Việt Nam exported shrimp to  六 八 markets. The top  一0 markets include Japan, EU, US, China, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland, which together account for  九 五. 四 per cent of Việt Nam’s shrimp exports.