Vietnam's shrimp exports to Japan in the first months of this year recorded positive growth. As of the first half of March 2022, shrimp exports to Japan reached over US$113 million, up 21% over the same period in 2021.

Processing shrimp for export at Ca Mau Seafood Company. Photo: SMALL

According to data of Vietnam Customs, Vietnam's shrimp exports to Japan in the last two years have not recorded growth. Accordingly, Vietnam's shrimp exports to Japan in 2020 reached more than 613 million USD, down 0.9%. In 2021, shrimp exports to Japan reached 578 million USD, down 6% compared to 2020.

After many years of decline, shrimp exports to Japan in the first months of 2022 grew by 21%. Therefore, the positive growth rate achieved in shrimp exports to Japan in the first months of this year is a positive signal.

According to Ms. Kim Thu, shrimp market expert of VASEP, Japan is currently the second largest shrimp import market of Vietnam after the US (accounting for about 15% of the proportion). In March this year, Japan was the export market of 67 Vietnamese shrimp enterprises with main export products such as: frozen powder coated shrimp, frozen steamed black tiger shrimp, breaded shrimp, frozen PDTO Nobashi vannamei, frozen steamed black tiger shrimp, frozen boiled whiteleg shrimp, frozen steamed tailless shelled shrimp, frozen steamed whiteleg shrimp...

According to the World Trade Center (ITC), in January 2022, Japan's shrimp imports reached nearly 176 million USD, up 11% over the same period in 2021. The top 3 largest suppliers include Vietnam, Indonesia and Vietnam. Thailand. Imports from Vietnam decreased slightly while imports from Indonesia and Thailand increased by 21% and 46% respectively over the same period last year.

Vietnam is in the Top 5 largest shrimp suppliers to Japan along with Indonesia, India, Thailand and Argentina. In which, Vietnam is still the largest shrimp supplier in the Japanese market, accounting for 24% of the market share, Indonesia and India together account for 16% of the market share, and Argentina accounted for 7%.

The Japanese government is gradually easing border control measures and normalizing socio-economic activities. Currently, Japan has lifted the entry ban with 106 countries and territories, including the US, most of Europe and many Southeast Asian countries.

Vietnam and Japan are both members of four bilateral and multilateral free trade agreements (FTAs): the Vietnam - Japan Free Trade Agreement (VJEPA), the Comprehensive Economic Partnership Agreement The Regional Comprehensive Economic Partnership (RCEP), the ASEAN-Japan Free Trade Agreement (AJCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Import demand for seafood products including shrimp of Japan is still very large. Therefore, Vietnam's shrimp exports to Japan have many growth opportunities, businesses are taking advantage, promoting shrimp exports to Japan.

haiquanonline.com.vn