Japanese 'premium' seafood imports to Vietnam surge

Published 2024년 8월 25일

Tridge summary

In the first half of 2024, Japan experienced a significant surge in frozen raw scallop exports to Vietnam, with a record 5,256 tons exported in June, up 1,110% from the same period last year. Despite the increase in volume, the average price fell by 49% to JPY 231/kg. This shift is part of Japan's strategy to diversify its scallop export markets following a ban by China on Japanese seafood. Vietnam, the US, Taiwan, and Southeast Asian countries are now key consumers. Japanese scallops, valued for their taste and texture, are consumed and processed in Vietnam, with the potential for further processing for export. The total cost of seafood imports from Japan, including scallops, reached 101.5 million USD from January to July 2024.

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

Original content

Recently, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported that in the first half of this year, Japan's frozen raw scallop exports to Vietnam increased dramatically. VASEP cited data from the Japanese Ministry of Finance, saying that in the first 6 months of 2024, the export price of frozen raw scallops with shells was JPY 239/kg (USD 1.51/kg). In June alone, the price of scallops from this country reached JPY 278/kg, a significant recovery compared to the previous month and a sharp increase compared to the bottom of JPY 155/kg in March. Notably, Japan exported 13,075 tons of shell-on scallops to Vietnam in the first half of this year. Compared to the same period last year, the amount of Japanese scallops entering the Vietnamese market increased dramatically by 2,078%, but the average price reached JPY 231/kg, down 49%. In particular, June recorded a record high of 5,256 tons of scallops, a sharp increase of 1,110% compared to the same month last ...

Source: Industry and Consumption Newspaper