US, Japan Importers Return to Vietnamese Shrimp

US, Japan Importers Return to Vietnamese Shrimp

Japanese and US shrimp importers have resumed purchases of Vietnam’s shrimp and began placing orders with Vietnamese producers in May and June after a long interruption, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Orders from the US and Japan have increased sharply over the last two months, after a long period of limited imports due to bond requirements the US importers must pay when importing Vietnam’s shrimp, VASEP said.

According to VASEP, the import reduction has taken a major bite into US shrimp stockpiles, at a time when demand for shrimp is on the rise. Meanwhile, other suppliers have reduced supply due to output reduction in their countries.

The same situation has arisen with Japan. With output from South East Asian countries falling, demand is rising in Japan as the country enters the festive season.

The Japanese market has also moved in a direction favorable for Vietnamese exporters. In addition to effects from the US market, lower than expected shrimp outputs in a number of South Asian countries and the start of the important O-Bon festival season in Japan have also driven up Japan's import needs.

Vietnam's shrimp export to the EU is also increasing, as Malaysia, a traditional supplier of the EU, has shifted to the US market.

VietnamNet, VNA