Japanese scallops filling hole created by lower US catch

Published Jan 26, 2024

Tridge summary

The U.S. has become a new market for Japanese scallops, despite a slowdown in domestic demand. This follows three years of reduced U.S. North Atlantic sea scallop landings and a surge in Japanese scallop exports to the U.S., from 4.9 million pounds in 2020 to 14.7 million pounds in 2023. The increase in Japanese scallop imports was triggered by China's ban on Japanese imports in August 2023, due to the release of wastewater from the Fukushima Daiichi nuclear power plant.

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Original content

U.S. demand for scallops has slowed, but excess Japanese supply being rejected from China has still managed to find a new home filling in the gap of lower U.S. catch rates.There have been three consecutive years of reductions in U.S. North Atlantic sea scallop landings, and although the quota is expected to rise by 1 million pounds to 26 million pounds in 2024, reduced supply has opened up a window for Japanese scallops to take over market share, according to Northern Wind Chief Commercial Officer Jamie Dwyer.Speaking at the 2024 Global Seafood Market Conference in Orlando, Florida, U.S.A., Dwyer said from 2020 to 2023, Japan increased its U.S. scallop exports from 4.9 million pounds to 14.7 million pounds.“We've got a huge opportunity in 2024 with the influx of Japanese scallops coming into the U.S.,” Dwyer said.In August 2023, China instituted a ban on Japanese imports following the release of wastewater from the damaged Fukushima Daiichi nuclear power plant. That month, ...

Source: Seafoodsource