Japan overtakes the US, becoming the number 1 seafood import market of Vietnam
Seafood
Vietnam
Published Apr 22, 2023
Original content
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US economy is unstable, gasoline and electricity prices have dropped, but food prices are still high. The American people, 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 to save money. The movement of the largest market has strongly affected the results of Vietnam's seafood export and the business situation of many enterprises. With 283 million USD, down 51% in the first quarter of 2023, the US is no longer the number 1 seafood market of Vietnam. However, Japan overtook the US to become the largest import market of Vietnamese seafood, although exports to this market decreased by 7%, reaching over US$322 ...
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