Vietnam is the largest shrimp supplier to Japan
Vietnam is the largest shrimp supplier to Japan in 2020. Vietnam's shrimp market share in Japan's total imports in 2020 increased over the previous year.
The Import and Export Department (Ministry of Industry and Trade) cited statistical data obtained from the Customs Authorities of Japan that Japan's shrimp import in 2020 reached 219 thousand tons, worth 242.8 billion yen (equivalent to USD 2.29 billion), decreased by 6.3% in volume and 12.5% in value compared to 2019.
Due to the negative impact of the COVID-19 pandemic, there is a change in the trend of consumption and import of Japanese shrimp products in 2020 when imports of high value shrimp products decreased, while imports of low and medium value shrimp products increased sharply. Therefore, the average import price of shrimp into Japan in 2020 decreased by 78.7 yen/kg compared to 2019, reaching 1,108 yen/kg (equivalent to USD 10.49/kg).
Vietnam is the largest shrimp supplier to Japan in 2020, reaching 55.05 thousand tons, worth 64.4 billion yen (equivalent to USD 608 million), decreased by 5.3% in volume and 7, 6% in value compared to 2019. Although decreasing, Vietnam's market share in total imports of Japan increased compared to 2019.
Notably, in 2020 Japan's shrimp imports from Ecuador increased sharply compared to 2019, reaching 2.59 thousand tons, worth 2.238 billion yen, an increase of 68.9% in volume and 32.6% in value.
Average shrimp import price from Ecuador in 2020 is at 863 Yen/kg, the lowest price among 11 largest shrimp suppliers to Japan. The export of shrimp to the Chinese market was facing difficulties, causing Ecuador to promote exports to other markets, including Japan. This trend is likely to continue in 2021.
Also according to the Import and Export Department, Vietnam's seafood export in February 2021 is estimated to reach 137 thousand tons, worth USD 400 million, decreased by17.2% in volume and 20% in value compared to February. Accumulated over the first two months of 2021, Vietnam's seafood export is estimated at 259.1 thousand tons, worth USD 1.01 billion, increased by 5.5% in volume, but decreased by 0.7% in value over the same period in 2020.
- Quarter I: Vietnam saw a trade surplus of over USD 18.5 billion to the US
- Vietnam's economy seen from the first quarter of 2021: Recovery and acceleration
- The IMF forecasts that Vietnam would achieve the fastest GDP growth in ASEAN in 2022
- Exports to the EU accelerate thanks to EVFTA
- Fitch revised Vietnam's outlook to “Positive”
- Exports of goods to the EU reached approximately USD 10 billion
- Taking advantage of EVFTA, exports in the first two months of the year grew impressively
- Bilateral trade between Vietnam and Canada reached a record
- Vietnam is the largest shrimp supplier to Japan
- Shrimp exports to the EU are expected to be positive in the first quarter of the year