Transforming Japan's seafood exports: New horizons after the Chinese embargo

Published 2024년 12월 27일

Tridge summary

In August 2023, China's suspension of Japanese seafood imports following a nuclear incident led to a significant drop in exports, particularly scallops, which had made up a large portion of China's imports. This forced Japanese producers to seek new markets, with the United States becoming a key destination. Japanese companies have begun to establish direct supply lines to the U.S. and are also exploring partnerships in Vietnam and Thailand. This shift towards diversification is similar to the experience of Russian producers who had to adapt to restrictions in the Chinese market. The Japanese fish industry faces challenges such as meeting quality and safety standards in new markets, but also opportunities for innovation and growth.

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

Original content

The Embargo and Its Consequences In August 2023, China suspended imports of Japanese seafood following the release of treated water from the Fukushima Daiichi nuclear power plant. This decision caused a sharp decline in exports, especially scallops, which had long been one of the most popular Japanese seafood products on the Chinese market. According to FAO, China accounted for 55.8% and 43% of Japan's total scallop exports in 2022 and 2023, respectively. The embargo caused scallop exports to fall by 27%, reducing their value to $252.9 million. New Markets and Adaptation With the loss of their main market, Japanese producers began to look for new ways to sell their products. As a result, scallop exports to the United States increased significantly. According to FAO, in the first nine months of 2024, Japan increased its seafood exports by 24.9%, reaching $63 million, with scallops shipped to the United States accounting for almost 25% of this volume. Thus, the American market has ...

Source: Fishretail