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May 21, 2009

Vietnam shrimps top Japanese seafood market

Prices of Vietnamese shrimp in Japan rose again recently by US$1.5 to US$2 per kilo due increasing Japanese consumer demand, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).


VASEP also said the falling volume of shrimp in the world market has also given Vietnam an advantage on the Japanese shrimp market.


Once the Vietnamese Japanese Economic Partnership Agreement becomes effective this year, many agricultural and aquatic products are likely to get tax incentives, including shrimp.


The Ministry of Agriculture and Rural Development said seafood exports turnover reached US$1 billion in the first quarter of 2009, of which US$234 million was shrimp. Japan is a key market for Vietnamese shrimp, accounting for 35 percent of the total value of all shrimp exports.


Vietnam is currently one of the world's top four shrimp exporters, along with China, Thailand and Indonesia.

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