Japanese scallops are massively imported into Vietnam, and prices have dropped by half

Published 2024년 8월 27일

Tridge summary

Vietnamese markets have seen a significant decrease in the price of Japanese scallops, once a luxury item, due to increased import competition and a shift in Japan's export strategies following China's seafood import ban after the Fukushima nuclear incident. This has made Japanese scallops more accessible and popular in Vietnam, leading to a surge in sales despite the higher price of fresh scallops over frozen ones. Meanwhile, Vietnam is also starting to process Hokkaido scallops for export back to Japan. The import of other Japanese seafood products like salmon, octopus, and herring has also increased, totaling 101.5 million USD in the first seven months of the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Japanese scallops were once considered a high-end delicacy with prices reaching millions of VND per kilogram, but are now more popular and cheaper than before. In Hanoi, scallops of 155-158 heads per kilogram normally cost around VND300,000, but now cost only VND150,000 per kilogram. With reasonable prices and high nutritional value, Japanese scallops are now becoming more popular in family meals. In Ho Chi Minh City, businesses are also importing Japanese scallops at competitive prices. Scallops of 20-25 heads per kilogram are currently priced at around VND550,000, down 30% from before. The CEO of a large seafood chain in Ho Chi Minh City said that the increase in the number of importing businesses has created price competition. To attract customers, in addition to frozen goods, they have imported whole live scallops. Although the price of fresh scallops is higher than that of frozen ones, thanks to their superior quality, sales have tripled compared to the beginning of the ...

Source: Voh