June 17, 2010

Japan remains key market for Vietnam's seafood

Japan continues to have high demand for Vietnamese seafood, boosting exports due to its high quality.

Japan is one of the biggest seafood consuming countries in the world, where each person consumes around 70.6 kilogrammes of seafood yearly, or 54.7 kilogrammes higher than the world's average consumption, says an Asian-Pacific Market Service official under the Ministry of Industry and Trade.

Vietnam currently ranks eighth in Japan's top 10 biggest seafood suppliers, with export revenues hitting nearly US$760 million in 2009, including US$500 million worth of shrimp.

In the first five months of 2010, Vietnam exported US$290.8 million worth of seafood to Japan, up 19% on-year, the official said, citing figures from the Vietnam Association of Seafood Exporters and Producers.

The official, however, urged Vietnamese firms to upgrade processing technology to improve their product quality because Japan is to set stricter requirements on imported seafood. The firms are also facing high tariffs set by Japan on several seafood times like tuna, frozen crab and octopus.