How are Vietnam's seafood exports faring after China's embargo on Japan,?

Seafood

China

Japan

Vietnam

Published Sep 3, 2023

Tridge summary

The Chinese Government has banned the import of seafood from Japan due to the treatment of nuclear wastewater from the Fukushima plant. This could create favorable conditions for Vietnamese seafood, particularly tuna and other seafood, as Japan's ban on exporting bluefin tuna to China presents an opportunity for Vietnamese products to increase in price and gain more market share. However, overall, the opportunity for Vietnamese seafood to enter the Chinese market is not significant as Japan only accounts for about 3% of China's seafood imports, with the main suppliers being Ecuador, Russia, Vietnam, and India.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

On August 24, the Chinese Government banned the import of all seafood from Japan in the context that the country began discharging treated nuclear wastewater from the Fukushima plant into the Pacific Ocean. It is unclear how long this import ban will last. Previously, the Chinese Government also banned food imports from 10 out of 47 Japanese provinces from July 2023. Speaking to VnExpress, the director of a fish export business in Nha Trang said the above ban will create favorable conditions for Vietnamese seafood, but the level is only concentrated in a few small groups such as tuna and other seafood. . As for products such as pangasius and shrimp, there will not be many changes. His business is supplying shrimp, squid, octopus and tuna to the Chinese market. "However, the Chinese side only increased its tuna purchases by about 15% over the same period, while shrimp and octopus still decreased by 20%," he said. In the fourth quarter, the company's seafood exports to China are ...

Source: VNExpress