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Considerable attention has been devoted to the social and environmental consequences of shrimp farming in the tropics, but relatively little has been given to the relationships involved in international trade in processed shrimp. Based on extensive field research, this article addresses this gap in the literature by examining the nature of the linkages between Japan, a major importer, and two major exporting countries, Thailand and Vietnam, underlying which are informal agreements rather than formal contractual relationships. It examines the rationale and operation of such informal agreements in the context of a dynamic market characterised by an international division of labour between Thailand (with an advanced food products industry) and Vietnam (just emerging into the world market). [ABSTRACT FROM AUTHOR]