Japanese consumers prefer Vietnamese processed shrimp products

Processing shrimp for export (Photo: VNA)

Hanoi (VNA) – Vietnam raked in 515 millionUSD from exporting shrimp products to Japan in the first nine months of 2022, postinga year-on-year increase of 24%, according to the Vietnam Association ofSeafood Exporters and Producers (VASEP).

The association said Japan is currentlythe second largest market of Vietnamese shrimp. Vietnam's processed gianttiger prawn (also called black tiger shrimp) exports to Japan increased sharply this year thanksto a high demand in the Northeast Asian country.

In the first three quarters of this year, 118 Vietnamese enterprises exported processed shrimp toJapan. Among the three main groups of shrimp products sold in Japan, the exportvalue of processed giant tiger prawnwitnessed the highest growth of 64%.

According to the International Trade Center (ITC), Japan’s import turnoverin the first seven months of 2022 reached nearly 1.3 billion USD, up 10% comparedto the same period last year. The three biggest suppliers for the marketare Vietnam, Indonesia and Thailand.

Vietnam's shrimp exports to Japan are expected toremain stable in the remaining months of 2022, VASEP said.

The cost of freight to Japan is not as high as to the US and the EU. Meanwhile theinflation rate in Japan is also lower than the record inflation rates in the USand the EU, and these are considered as favourable factors for Vietnam's shrimpexports to Japan, the association noted./.

VNA