The decline was attributable to weak yen, economic downturn and high shrimp price.
According to ITC, in Jan-Apr 2016, shrimp imports into Japan reached 62,300 MT, worth by US$645.7 million, up 11.4% in volume and 2.9% in value from the same period of last year. The rise was thanks to lower average import price and recovery in domestic consumption.
The statistics of ITC showed that, Vietnam remained to be the largest shrimp supplier to Japan, followed by Thailand; Indonesia and India held the 3rd and 4th rank. Among top 10 largest suppliers to Japan, shrimp imports from Indonesia, China reduced in volume and value. Imports from Thailand and India rose both in volume and value. Remarkably, shrimp imports from India rose sharply 70% and 55.4% in volume and value, respectively. Due to economic downturn, Japanese importers tend to purchase cheap shrimp from India.
In Jan-Apr 2016, the average price of shrimp imported into Japan reached US$10.23/kg, lower than that of Jan-Apr 2015 (US$11.25/kg). Among top 4 leading suppliers to Japan, the average import price from Indonesia reached the highest, followed by Vietnam. In Japan market, Vietnamese shrimp must compete with Thailand and India in price.
Thailand tend to raise its shrimp exports to Japan. Shrimp exports by Thailand to Japan made up 30% of total shrimp exports from 20% of the same period of 2015.
Thailand reduced exports to EU because the country lost GSP preference in the EU market. Thailand tend to raise its exports to Japan. Vietnamese shrimp will strongly compete with Thai competitors.
Shrimp demand from Japan is growing up, particularly cooked and ready to eat whole round shrimp. Vietnamese enterprises are focusing on the quality and the price of their products to boost exports to Japan.
By Kim Thu
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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