Shrimp exports to Japan slow down

International shrimp price has remained high in recent years, which significantly affected shrimp import demand in Japan. As JPY depreciated against the dollar, Japanese market lost its attractiveness to shrimp suppliers, and Vietnam is not an exception.

Statistics from General Customs showed that and in 2014, shrimp exports to Japan increased by only 4.9% year on year. This growth rate is much smaller than the increase in shrimp exports to the US and the EU, which are 28% and 66.7%, respectively. However, Japan is still the 2nd largest consumption market for shrimp from Vietnam.

Since mid-March 2014, Japan’s oxytetracycline (OTC) inspection was carried out on all shrimp imported from Vietnam. OTC residue is permitted at 0.2 ppm. Though shrimp exports to Japan increased sharply by 33%, a reversed trend was witnessed with negative growth of nearly 15% 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 Vietnam 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% in volume and by 42.7% in value. Along with shrimp imports from Vietnam, imports of Thailand and Indonesia fell.