Japan is expected to become the main target market for Vietnam's shrimp exports in the second half of the year due to excess shrimp stocks in the United States, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
 
Ho Quoc Luc, chairman of the board of directors of Sao Ta Foods Co., said that the Japanese market requires a variety of Vietnamese shrimp products, and most of them are refined products. Compared with the cost of shipping seafood to the United States and the European Union, shipping costs to Japan are not high, which helps Vietnamese shrimp sales in Japan.
 
Meanwhile, inflation in Japan remains low compared with the United States and the European Union, creating conditions for future shrimp consumption in Vietnam.
 
VASEP expects Vietnam's shrimp exports in the second half of the year to be lower than in the first half due to factors such as weather factors and a large scale of microsporidiosis in shrimp farms. In addition, excess stocks in the US market, coupled with fierce competition from cheaper products from rivals such as India, Ecuador and Indonesia, will also affect shrimp exports in the second half of the year.
 
Still, VASEP expects Vietnamese shrimp exports this year to be at least 10 % higher than last year.

http://news.foodmate.net/2022/07/635707.html