Japanese companies are looking for new markets for scallops after the Chinese ban

Since the ban was announced on Aug. 24, Gen Komori, president of Tokyo seafood retailer Housen Co., has received requests for scallops from overseas, but at "incredibly low prices." “I feel like (Japanese businesses are) being robbed,” Komori said. Scallop prices at markets in Hokkaido and three other prefectures have fallen 11 to 27 percent since China imposed the ban, according to a survey by the Fisheries Agency. At Marui Sato Kaisan Co., a seafood processor based in Betsukai, Hokkaido, frozen scallop inventories rose substantially after orders from China, its main export market, dried up in July before the ban was put into effect. “I am concerned about further developments,” said Takeshi Ise, the company’s president. China is the largest overseas market for Japanese seafood, followed by Hong Kong. Last year, Japan exported 83.6 billion yen ($562.9 million) worth of seafood to China. Scallops accounted for 48.9 billion yen, followed by sea cucumbers at 9.8 billion yen. An ...