The Japanese market imported 372 million USD of shrimp from Vietnam in the first 9 months of this year, down 28% over the same period. Vietnam's shrimp exports to Japan in September 2023 decreased by 10% - the smallest decrease since the beginning of this year.
In QIII/2023, shrimp exports to Japan reached 135 million USD, down 26%. The decrease in QIII is also the lowest decrease compared to the previous two quarters.
Weak demand from the Japanese market combined with a sharp decline in the Yen/USD currency exchange rate is one of the factors that have a negative impact on Vietnamese shrimp exports to Japan.
Among the three main shrimp product groups exported to Japan, whiteleg shrimp accounted for 64.1%, black tiger shrimp accounted for 18.5%, and the remaining 17.4% was other shrimp. Unlike other markets, Japan's export proportion of other types of shrimp is equivalent to black tiger shrimp. White leg shrimp’s export value to Japan in QIII reached 238 million USD, down 26%, black tiger shrimp’s export value decreased 40% to 69 million USD. Other shrimp exported to Japan reached 65 million USD, down 20%. Whiteleg shrimp’s export value decreased less than that of black tiger shrimp. Notably, dried shrimp exports to Japan increased by 3% in the first 9 months of this year.
In QIII/2023, the average export price of Vietnam's frozen black tiger shrimp to Japan ranged from 18.8-14.1 USD/kg. The average price of black tiger shrimp exported to Japan tended to decrease since the beginning of the year while the volume of black tiger shrimp exports to Japan tended to increase monthly (the next month is higher than the previous month) since June. In QIII, black tiger shrimp exports recorded an increase compared to the same period last year.
The Japanese market often has a higher average shrimp selling price than other Vietnam’s shrimp export markets. This market also has limited competition and high barriers to entry due to consumers' preference for high value-added products - which is the strength of Vietnam's shrimp industry.
In the Japanese market, Vietnamese shrimp exporters have a competitive advantage in high value-added products compared to countries that mainly export raw shrimp products such as India and Ecuador. It is expected that Vietnam’s shrimp exports to this market in the last quarter of the year will continue to narrow the decrease and may recover in December.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
(seafood.vasep.com.vn) The "Cooking Show - Tasting delicious seafood" area at Vietfish 2024 organized by VASEP has always been a favorite highlight for visitors, especially domestic consumers. This area is not only a place to showcase a variety of flavors and high-quality Vietnamese products that are renowned in the global market but also a venue where consumers can experience captivating and visually appealing culinary performances by professional chefs.
(seafood.vasep.com.vn) Vietnam's shrimp exports reached $375 million in July 2024, a 17% increase from July 2023. Shrimp exports in July recorded the highest value since the beginning of the year and this is also the month when Vietnam's shrimp exports saw the best growth rate since February this year. In the first 7 months of this year, the shrimp export turnover reached over $2 billion, up 8% compared to the same period last year.
The rice-shrimp cultivation area of Thoi Binh district in the Mekong Delta province of Ca Mau has received Best Aquaculture Practices' (BAP) certification of the Global Aquaculture Alliance (GAA).
(seafood.vasep.com.vn) In the past 7 months, the weather situation did not fluctuate much, contributing to ensuring favorable conditions for fishing and aquaculture activities in Da Nang. The total output of fisheries and aquaculture in the past 7 months increased compared to the same period last year.
(seafood.vasep.com.vn) With Japan currently a key market, the business results of Sao Ta Food Joint Stock Company (stock code FMC) in the second half of this year are expected to benefit from the Yen's appreciation again.
(seafood.vasep.com.vn) As of the end of July 2024, Can Tho City's total fishery output was estimated at 137,963 tons, a 11.32% increase compared to the same period last year. Of this, aquaculture production reached 134,669 tons, a 11.27% increase, mainly attributed to pangasius.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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