July 4, 2016

Vietnam still Japan's top shrimp supplier despite export decline

Vietnam has remained the leading shrimp supplier to Japan despite a 0.1% decline in exports in terms of value (down to US$145.7 million) during the period January-April 2016.

The decline was attributable to a weak yen, economic downturn and high shrimp price, according to the the Vietnam Association of Seafood Exporters and Producers (Vasep).

Based on statistics from the International Trade Centre, according to Vasep, total shrimp imports into Japan in January-April 2016 reached 62,300 tonnes, worth US$645.7 million, or up 11.4% in volume and 2.9% in value from the same period last year. The rise was attributed to lower average import price and recovery in domestic consumption.

The ITC figures showed that Vietnam remained as the largest shrimp supplier to Japan. Thailand, Indonesia and India held the 2nd, 3rd and 4th rank, respectively. Among the top 10 largest suppliers to Japan, shrimp imports from Indonesia and China also decreased in volume and value during the same period. 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, Vasep noted.

In the four months through April, the average price of shrimp imported into Japan was $10.23/kg, lower than last year ($11.25/kg). Among top four leading suppliers to Japan, the average import price from Indonesia reached the highest, followed by Vietnam. 

According to Vasep, shrimp demand from Japan is growing, particularly cooked and ready-to-eat whole shrimp.