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Japan replaces US as Vietnam’s biggest shrimp importer
  • By Phuong Dung | dtinews.vn | May 25, 2017 11:08 AM
 >>  Vietnam faces USD10bn shrimp export challenge
Japan has replaced the US to become the Vietnam’s biggest shrimp importer in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The VASEP’s first quarter statistics showed Vietnam’s shrimp exports to Japan reached USD135.4 million, a year-on-year rise of 29.6%. This was attributed to the rise of the yen which encouraged Japanese firms to import more shrimp. It was also due to changes in tastes of Japanese consumers who now prefer cheaper aquatic products to salmon, tuna and cuttlefish.

 

Vietnam’s shrimp exports to Japan reached USD135.4 million in the first quarter of this year


Although Vietnamese shrimps are exported to Japan at a high price of USD12 per kilo on average compared to Indonesia’s rate of USD11 and USD10 of Thailand, they are still favoured in Japan thanks to their improved quality, VASEP added.

The association reported that in the first quarter of this year, Vietnam exported shrimp to 68 markets. The top ten importers were Japan, EU, the US, China, South Korea, Canada, Australia, ASEAN, Taiwan and Switzerland which make up 95.4% of the country’s shrimp export value during the period.

Despite being the spearhead export item of Vietnam, the local shrimp sector is still facing many difficulties. The country is now home to 1,800 shrimp breeding farms, but most of them in Vietnam are small scale and they have to depend on imported broodstock.

Recently, Prime Minister Nguyen Xuan Phuc urged the shrimp sector to achieve an export value of USD10 billion by 2025; however, it won’t be easy for the sector to reach the ambitious target.

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