11 August 2023

Vietnam is still the largest shrimp supplier to Japan, accounting for a market share of 23.7%, while Thailand ranks 2nd with a market share of 17.7%.

According to the Association of Seafood Exporters and Processors, as of July 15, 2023, Vietnam's shrimp exports to Japan reached 256 million USD, down 29% over the same period in 2022.

The Japanese market bought 236 million USD of shrimp from Vietnam in the first 6 months of this year, down 29% over the same period. Vietnam's shrimp exports to Japan in June 2023 will decrease by 35% - the deepest decline since March this year.

Vietnam's shrimp exports to Japan in the first months of this year still faced difficulties due to the sharp fall in the yen. By early July 2023, the yen had fallen above 145 yen per dollar, making it difficult to sell shrimp into this market as selling prices had to fall in line with the yen's decline.

Among the 3 main shrimp product groups exported to Japan, whiteleg shrimp accounted for 63.5%, tiger shrimp accounted for 17.9%, the rest were other shrimp with 18.6%. Unlike other markets, the proportion of other shrimp exports of Japan is higher than tiger shrimp. The export value of whiteleg shrimp to Japan in the first half of 2023 will reach 150 million USD, down 26%, the export value of black tiger shrimp will decrease by 45%, reaching 42 million USD. Notably, exports of other shrimp to Japan reached 44 million USD, down 15%.

In the first 6 months of 2023, the average export price of Vietnam's frozen whiteleg shrimp to Japan ranges from 6.5 - 10.3 USD / kg. The average price of frozen tiger shrimp exported to Japan ranges from 14.1 to 17.7 USD / kg. The average export price of frozen whiteleg shrimp and tiger shrimp to Japan in Q2 of this year tended to decrease slightly compared to Q1 of this year.

Japan is also focused on boosting exports this year thanks to stable demand and better profit margins in Japan due to a high proportion of refined and refined goods. In the context of domestic shrimp materials decreasing due to shrimp diseases, Vietnamese shrimp products processed for export to Japan retain an advantage over other markets.

Some of the largest shrimp exporters to Japan such as Sao Ta Food Joint Stock Company, Hai Viet Joint Stock Company, Minh Phu Seafood Group Joint Stock Company, Minh Phu Hau Giang Seafood Joint Stock Company...

In the Japanese market, Vietnamese shrimp also have to compete with Indian and Ecuadorian shrimp. According to data from the World Trade Center (ITC), in the first 5 months of this year, while total shrimp imports to Japan decreased by 11%, imports from the largest supplier Vietnam also recorded a decrease, Japan still sharply increased imports from India and Ecuador, 43% and 20% respectively. Data from India's Ministry of Commerce shows that in the first 5 months of this year, Japan sharply increased imports of black tiger shrimp from India.

Vietnam is still the largest shrimp supplier to Japan, accounting for a market share of 23.7%. Thailand ranked 2nd with a market share of 17.7%. India ranked fourth with 14.5% and Ecuador ranked 10th with 2.1%.

Source: congthuong.vn