Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Image: Stockfile FIS

Shrimp Imports: Weak Yen Reduces Purchasing Power

Click on the flag for more information about Japan JAPAN
Tuesday, May 14, 2024, 07:20 (GMT + 9)

In the first quarter of 2024, Vietnamese shrimp exports to Japan reached 103 million USD, down 2% over the same period. After increasing by 30% in January, shrimp exports to Japan decreased by 21% and 10% in February and March, respectively.

Source Stockfile FIS -->

In the first quarter of 2024, in the structure of shrimp products exported to Japan, whiteleg shrimp accounted for 69%, other types of shrimp accounted for 16%, and the remainder was black tiger shrimp. Exports of Vietnamese whiteleg shrimp products to Japan in the first quarter of this year recorded an increase in both fresh/frozen products and processed products. For black tiger shrimp, only processed black tiger shrimp recorded an increase, while fresh/frozen black tiger shrimp products decreased.

In the first quarter of 2024, the average price of Vietnam's frozen whiteleg shrimp exports to Japan ranged from 9-9.2 USD/kg. The average price of frozen black tiger shrimp exported to Japan ranges from 12.6-14.1 USD/kg. The average export price of black tiger shrimp and whiteleg shrimp is still down over the same period but has increased compared to the last months of 2023.

<-- Source Stockfile FIS

In the US and EU, simply processed shrimp from India and Ecuador at cheap prices have an advantage over Vietnam. Japanese consumers require products to be delicious, nutritious, beautiful, meticulously processed, and suitable for Vietnam's processing level and capacity. Popular shrimp products from Vietnam exported to Japan such as breaded shrimp, stretched shrimp, fried shrimp, sushi shrimp... Vietnamese shrimp still maintains a good competitive advantage in this market.

Japan increased shrimp purchases from Ecuador

Japanese shrimp importers are likely to buy more whiteleg shrimp farmed in Ecuador and India this year after the US imposed preliminary anti-subsidy duties on the country's three main supplier countries. Japan does not apply CVD tax on shrimp.

Source Stockfile FIS  -->

Japan's imports of warm-water shrimp from Ecuador have increased 4.5-fold over the past five years to 7,034 tons in 2023, a 7% increase, while imports from Indonesia and Thailand decreased by 7% and 17%, respectively, compared to last year. The Japanese are currently buying shelled, headless whiteleg shrimp from Ecuador for 5.80 USD/kg, size 31-40.

The Japanese shrimp market has shrunk over the past decade, but the country remains one of the world's largest shrimp consumers, after China, the US and the EU. Japan's shrimp imports, both coldwater and warmwater shrimp combined, will total 200,000 tons in 2023, hitting a 40-year low.

<-- Source Stockfile FIS

According to data from Japan's Ministry of Internal Affairs, households with two or more people spent an average of JPY 2,075 on shrimp in 2023, unchanged from a year earlier.

The devaluation of the yen affects import activities

The Japanese yen devaluation to a 34-year low is also a factor that makes Japan's import activities and purchasing power of seafood, including shrimp, more cautious.

The yen was at 160 yen per dollar at the end of April this year due to weak liquidity during the holiday season in Japan. The yen also fell to a record low of 171 yen/EUR.

According to feedback from businesses exporting Vietnamese shrimp to the Japanese market, there is currently a big problem due to Japan's "too strict" regulations compared to many countries regarding the acceptance threshold of antibiotic criteria. Doxycycline in seafood products imported into Japan. This is causing great difficulties and disadvantages for seafood, including Vietnamese shrimp exported to Japan, because this antibiotic is still allowed to be used in aquaculture in Vietnam. VASEP has sent a written request to the Ministry of Agriculture and Rural Development so that the Ministry can consult with Japan's Chinese authorities so that the Japanese side can issue regulations on the maximum allowable limit (MRL) for the antibiotic Doxycycline equal to the level of the Japanese government. Other countries like EU, China, New Zealand are in control.

Author: Kim Thu | Vasep (Translated from the original in Vietnamese)

 

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
China
Jun 21, 07:40 (GMT + 9):
Southeast Pacific Squid Index: Giant squid (dosidicus gigas)
Canada
Jun 21, 07:00 (GMT + 9):
Cermaq warns of continued uncertainty for aquaculture in Canada
Canada
Jun 21, 07:00 (GMT + 9):
Grieg Seafood welcomes five-year licences in British Columbia
Worldwide
Jun 21, 07:00 (GMT + 9):
Fishing Sector Calls for Essential Collaboration Between Governments and NGOs to Tackle the Challenge of Feeding a Growing Global Population
Japan
Jun 21, 07:00 (GMT + 9):
Major Japanese food processing firm launches plant-based 'tuna sashimi' for restaurants
Russian Federation
Jun 21, 06:50 (GMT + 9):
'Maritime Congress-Far East' - Russian Fishery Company as a driver for the development of the fishing industry in the Far East
Norway
Jun 21, 05:50 (GMT + 9):
Fish Pool Salmon Price Status Report for week 25
Argentina
Jun 21, 01:00 (GMT + 9):
Excellent Shrimp Catches
European Union
Jun 21, 01:00 (GMT + 9):
The EU is ready to ratify the High Seas Treaty (BBNJ)
Japan
Jun 21, 00:50 (GMT + 9):
Retail price│Boiled octopus in Osaka and Tokyo (from 2014 to 2024) | monthly update
United States
Jun 21, 00:40 (GMT + 9):
Weekly catches │ GOA/BSAI | Black cod / sablefish | 2023-24
United States
Jun 21, 00:40 (GMT + 9):
Statistics │ Export │ Frozen Black cod/sablefish exports to Japan, China, S. Korea, Hong Kong │ NMSF │ 2023-24
United States
Jun 21, 00:40 (GMT + 9):
Catches and prices │ Black cod / sablefish │ WOC │ 2022-23-24
United States
Jun 21, 00:20 (GMT + 9):
Statistics │ Export │ Frozen Pacific cod exports to Japan, Canada, China, South Korea │ NMSF │ 2023-24
United States
Jun 21, 00:10 (GMT + 9):
Capture DAP at BSAI | Atka Mackerel, Dusky Sole, Yellowfin Sole and Pacific Cod | week 23



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Shell processing plant suspends operation, 20 staff laid off
Canada The following is an excerpt from an article published by CTV News: Coastal Shell Products in Richibucto, N.B., has suspended all operations. The company made the announcement in a news release ...
Orpagu and ABANCA strengthen ties to improve the financing and modernization of the fishing fleet
Spain • The new deal includes a variety of credit solutions tailored to address the industry's key challenges  • Products such as the naval mortgage stand out, which will allow longliners ...
Shrimp and Squid, Main Topics of the CFP
Argentina Data on the current shrimp (Pleoticus muelleri) season were presented and the possibility of prospecting new areas was left open. A summary of the topics addressed in the illex monitoring commission w...
US expands ban on Chinese seafood
United States The US Department of Homeland Security (DHS) has added another major Chinese seafood processor to its list of companies banned from exporting to the US due to forced labor concerns while closing t...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER