Bright future for Vietnamese shrimp in Japan

The price of Vietnamese shrimp exported to Japan has risen again recently, by around 1.5-2 USD/kg, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

This is because Japanese consumer demand for this product has grown while the amount of shrimp available on the world market has fallen.

Once the Vietnamese – Japanese Economic Partnership Agreement becomes effective this year, many agricultural and aquatic products are likely to get tax incentives, including shrimp.

The Ministry of Agriculture and Rural Development said that in the first four months of this year, the turnover from seafood exports had reached one billion USD, of which 234 million USD was shrimp. Japan is a key market for Vietnamese shrimp as it accounts for 35 percent of the total value of all shrimp exports.

Vietnam is currently one of the world’s top four shrimp exporters, along with China , Thailand and Indonesia.

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