Japanese scallops flock to the U.S. and Southeast Asia, but can't offset China's shortfall

Published 2024년 4월 8일

Tridge summary

Japan is adjusting its seafood export strategy to focus more on the United States and Southeast Asia due to a decline in exports to China. Despite this strategic shift, the country experienced a decrease in seafood export volume and value in February, with a 3% drop in volume and a 6% decrease in value compared to the previous year. However, there has been a notable increase in exports of frozen scallops in shells, particularly for reprocessing, to new markets such as Vietnam and Thailand. This indicates a diversification in Japan's seafood export destinations. Nevertheless, some exporters express concerns over a potential decline in total export volume following the start of the Hokkaido production season in March.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As a result, Japan shifted its export destinations to other countries, especially the United States and Southeast Asia. As of February, the export volume of these countries has increased significantly, but it is still far from making up for the gap in China. According to statistics, Japan's seafood exports in February were 34,262 tons, down 3% year-on-year, and the value was 29.9 billion yen (202 million US dollars), down 6% year-on-year. The export of frozen scallops in shells for reprocessing increased by 31% year-on-year to 2,033 tons, with an average price of 245 yen per kilogram, down 28% year-on-year. In the first two months of 2024, Japan's exports of scallops in shells were 2,386 tons, up 41% year-on-year. But some exporters predict , after the Hokkaido production season starts in March, the total export volume will be lower than last year. In the first two months, Japan's scallop exports to Vietnam reached 1,085 tons, a year-on-year increase of 736%; exports to Thailand ...

Source: Foodmate