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Shrimp imports into Japan decreased due to high inventories from the beginning of the year and the fluctuations in the yen exchange rate. Shrimp supplies from China and Argentina to Japan sharply decreased due to declining in shrimp supplies in these countries.

Vietnam is still the largest shrimp supplier to Japan, accounting for 25.6% of the total value of shrimp imports into this country. Thailand ranked second with 18%, followed by Indonesia with 14.9% and India with 14%. The average price of importing shrimp from Vietnam is the highest (11.3 USD / kg) in the top of the main suppliers so Vietnam must compete on price with other suppliers in this market (Indonesia 11 USD / kg; Thailand 11 USD / kg; India 9.2 USD / kg; Argentina 9.6 USD / kg; China 8 USD / kg)

According to the statistics of General Department of Vietnam Customs, in 2018, Vietnam shrimp exports to Japan reached US$ 639.4 million, down 9.2% compared to 2017. Japan is currently the second largest shrimp import market of Vietnam, accounting for 18% of total export value of Vietnamese shrimp to markets.

In 2018, the export of Vietnamese shrimp to Japan only increased in January and November, the remaining months witnessed the decrease compared to the same period in 2017. The value of shrimp export to Japan decreased partly due to the fluctuation of the yen exchange rate and the fierce competition of rival suppliers such as India and Thailand. India, due to difficulties in exporting to EU, should increase export to Japan.

Frozen Nobashi shrimp (headless, peeled, tail on, straightened) sizes of 26/30, 31/35, 41/50 are priced from 10.2 to 11.2 USD / kg. Fresh tail on shrimp of size 2L, 4L, 5L, 7L have prices ranging from 9.5-11.2 USD / kg.

For years, Vietnam has maintained its No.1 position in supplying shrimp to Japan thanks to its advantages over other sources in the Japanese market. The ASEAN Japan Comprehensive Economic Partnership Agreement (AJCEP) took effect from December 1, 2008 and the Vietnam Japan Economic Partnership Agreement (VJEPA) took effect from October 1, 2009 helped create the most favorable conditions for tariffs on exporting Vietnamese seafood to Japan. For AJCEP, soon after the entry into force in 2009, shrimp products were entitled to a 0% tax rate. From January 14, 2019, CPTPP officially took effect in Vietnam, thus, Vietnamese shrimp exported to Japan will benefit from this Agreement.

Cooked shrimp products with high usability will grow well in the near future as Japan's ready-to-eat food industry grows well in the context of the number of single people increases. In order to promote shrimp export to Japan, enterprises should innovate market access methods along with promoting their brands, ensuring product quality. It is expected that, in 2019, Vietnam shrimp exports to Japan will achieve 2-digit growth compared to 2018.

Japanese shrimp import in 2018

Value: thousand USD

Source: ITC

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