Ho Quoc Luc, chairman of the board of directors of Vietnam Sao TA Food Co., Ltd., revealed that the Japanese market requires Vietnamese shrimp products to be diversified, and most of them are refined products. Compared with the cost of shipping seafood to the United States and the European Union, the freight to Japan is not high. These advantages are conducive to the sales of Vietnamese shrimp in Japan.
Meanwhile, the inflation rate in Japan is still very low compared with that in the United States and the European Union, which also creates conditions for the consumption of shrimp in Vietnam in the future.
Vasep predicts that due to weather factors and large-scale microsporidiosis in shrimp farms, Vietnam’s shrimp exports in the second half of the year will be less than those in the first half. In addition, the excessive inventory in the U.S. market and the fierce competition from cheap products from competitors such as India, Ecuador and Indonesia will also affect shrimp exports in the second half of this year.
Nevertheless, vasep predicts that Vietnam’s shrimp exports this year will be at least 10%higher than last year.