Vietnam shrimp leading in Japan market

Compared with the months in the year 2015, Vietnam shrimp exports to Japan increased steadily from June to October thanks to rising demand for Festival season late 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 negative growths compared to the rest of the year.

According to World Trade Centre (ITC), in 2015, shrimp imports into Japan totaled 213.7 thousand tonnes, valued at US$2.3 billion, decreased by 4% in volume and 18% in value compared to the year 2014.

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

The average price of imported shrimp into Japan in 2015 dip 14.5% to 10.6 USD per kg. Among the 5 main shrimp supplies for Japan, the average price of imported shrimp from Vietnam reached highest level of 11.4 USD/kg; prices of shrimp imports from China reached the lowest.

According to ITC, in 2015 Vietnam is still the largest shrimp supplier to Japan, accounting for 25% of the total import the shrimp into the market. Thailand stood second with 16.6 percent. Indonesia and India in turn hold the No. 3 and 4 with 16% and 13.3%.

Import shrimp from Vietnam, Thailand and China fell both in volume and value compared to 2014 while imports from Indonesia and India decreased in value but increased in volume. Due to the economy difficulties, the Japan importers tended to source of cheap shrimp from India, Indonesia.

With economic stimulus measures by Japan's Central Bank, the country's economic recovery is expected in 2016. Accordingly, shrimp exports to Japan can achieve positive results this year.