In September 2023, Japan ranked 4th in the CPTPP market in importing Vietnamese pangasius after Mexico, Canada and Singapore. Vietnam’s pangasius exports to Japan in September 2023 reached 3 million USD, up 10% over the same period last year, contributing 13% to total pangasius imports of CPTPP. Accumulated in the first 9 months of 2023, pangasius exports to this market reached 24 million USD, down 15% compared to the same period in 2022.
Over the 9 months of this year, starting in March, pangasius exports to Japan continuously decreased. It was not until September that pangasius exports to Japan returned to positive growth.
By the end of September 2023, Japan consumed mainly frozen pangasius fillets (HScode 0304) (except fish cakes and surimi products) with 21 million USD, down 19% over the same period last year, accounting for 91% of total exports of pangasius products to this market. Following are processed pangasius products (HScode 16) and live/fresh/frozen/dried pangasius (HScode 03) (except HScode 0304) which reached 2 million USD, accounting for 6% and 1 million USD, accounting for 3% respectively.
Vietnam is considered as a country with good supply capacity for the Japanese market as it enjoys many tariff incentives in free trade agreements (FTAs) along with the number of people coming from Asian countries living and working in Japan is gradually increasing to 10 million people.
Japan’s nuclear wastewater discharges from the Fukushima Nuclear Power Plant into the sea may reduce domestic consumers’ seafood consumption and increase attention to imported seafood products. Japan’s increased pangasius import from Vietnam in September 2023 is a positive sign in the current world’s complicated and unpredictable economy.