Japan is now the largest market for Vietnamese seafood
Seafood
Vietnam
Published May 9, 2023
Tridge summary
Japan now largest market for Vietnamese seafood, although exports decreased by 7%, reaching over 322m USD in the first quarter of 2023.
Original content
Japan now largest market for Vietnamese seafood. Over 1.8 billion USD and negative growth of 27% in the first quarter of 2023, showing that the situation of the seafood market is more difficult than expected for Vietnamese exporter. The picture of seafood exports may gradually brighten in the second quarter and is expected to recover better from the third quarter when the Chinese market has a clearer improvement and seafood enterprises have adjusted their product structure and markets to adapt to the context of 2023. The US economy is unstable, gasoline and electricity prices have “cooled down”, but food prices are still high. The US consumers, especially the low-income class, had to change their diets and food purchase channels. There has been a trend that many consumers consider choosing chicken, beef or pork instead of seafood. Grocery stores with discount programs often have better sales than large supermarket channels. More and more people are choosing to buy home-cooked food ...
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