Vietnam: Black tiger shrimp exports to Japan in third quarter of 2023, volume increased, price decreased

Published 2023년 11월 22일

Tridge summary

Vietnam's shrimp exports to Japan have decreased by 28% in the first nine months of this year, mainly due to weak demand from the Japanese market and the decline in the Yen/USD exchange rate. However, in September 2023, the decrease was the smallest since the beginning of the year. Among the different shrimp types exported to Japan, whiteleg shrimp accounted for the largest portion, and black tiger shrimp experienced the largest decrease in export value. Dried shrimp exports to Japan, on the other hand, increased by 3% in the first nine months. Despite the challenges, Vietnam's shrimp industry has a competitive advantage in high value-added products, which may contribute to a recovery in exports to Japan in the last quarter of the year.

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

Original content

The Japanese market imported 372 million USD of shrimp from Vietnam in the first 9 months of this year, down 28% over the same period. Vietnam's shrimp exports to Japan in September 2023 decreased by 10% - the smallest decrease since the beginning of this year. In QIII/2023, shrimp exports to Japan reached 135 million USD, down 26%. The decrease in QIII is also the lowest decrease compared to the previous two quarters. Weak demand from the Japanese market combined with a sharp decline in the Yen/USD currency exchange rate is one of the factors that have a negative impact on Vietnamese shrimp exports to Japan. Among the three main shrimp product groups exported to Japan, whiteleg shrimp accounted for 64.1%, black tiger shrimp accounted for 18.5%, and the remaining 17.4% was other shrimp. Unlike other markets, Japan's export proportion of other types of shrimp is equivalent to black tiger shrimp. White leg shrimp’s export value to Japan in QIII reached 238 million USD, down 26%, ...

Source: Vasep