Vietnam has been the biggest shrimp supplier of Japan, giving it a market share of 24%. However, the exporting price to this country was going down as the Japanese yen dropped.
According to VASEP, Japan imported about USD 236 million worth of Vietnamese shrimps in the first two quarters of 2023, with USD 150 million of white leg shrimp, down 26%, and USD 42 million of black tiger shrimp, down 45%.
In the first half of 2023, the average exporting prices of Vietnamese frozen white leg shrimp to Japan ranged between 6,5 – 10,3 USD/kg (equal to 155,000 – 245,000 dong/kg).
The average exporting prices of frozen black tiger shrimp reached about 14,1 – 17,1 USD/kg (equal to 355,000 – 420,000 dong/kg). In Q2, the average exporting prices of both white leg shrimp and black tiger shrimp to Japan slightly went down from Q1/2023.
The difficulties in sales of Vietnamese shrimp in Japan were attributed to the fact that the Japanese yen has sharply dropped. The plunge of yen from early July resulted in a decrease in exporting prices.
Additionally, Vietnam’s processed shrimp products have an advantage over other markets, thus, Vietnam has been the biggest shrimp supplier of Japan with a 24% market share while Thailand just makes 18%.
VFM
