Japan seems to be to spice up seafood exports to new markets after Chinese language ban, commerce physique says
By Yuka Obayashi and Katya Golubkova
TOKYO (Reuters) – Japan is ramping up promotional efforts to spice up seafood exports to extra locations in Asia, the U.S., and Europe because it seeks to fill a gross sales hole left by a year-long Chinese language import ban, the pinnacle of the Japan Exterior Commerce Group stated.
China, beforehand the most important marketplace for Japanese seafood exports, banned purchases of Japanese-origin seafood citing threat of radioactive contamination after Tokyo Electrical Energy began releasing handled water from the wrecked Fukushima nuclear energy plant into the Pacific Ocean final August.
Japan’s exports of agricultural, forestry and fishery merchandise within the first half of 2024 fell for the primary time since 2020 as exports to China plunged 43.8%. Scallops had been the hardest-hit, dropping 37% year-on-year.
“We have not but absolutely compensated for the loss from China in quantity, however exports to the U.S., Canada, Thailand and Vietnam are growing, considerably boosting momentum in various markets,” stated Norihiko Ishiguro, the chairman of the Japan Exterior Commerce Group, or JETRO.
The federal government-backed commerce physique is selling the diversification of export locations for scallops and different merchandise impacted by China’s curb by establishing new business channels in Asia, the U.S., and Europe, he added.
“Our intensive promotional efforts have enabled us to redirect 20-30% of the scallop exports misplaced resulting from China’s import ban,” Ishiguro stated on Friday, forward of the primary anniversary of the Fukushima water launch on Aug. 24.
“There’s important development potential for Japanese seafood exports … it will not take lengthy to make up for the hole attributable to China’s ban,” he added.
Japan exported 87.1 billion yen ($592 million) value of aquatic merchandise to China in 2022, making it the most important marketplace for Japanese exports, in keeping with authorities information. The determine, which incorporates pearl and coral, plunged to 61 billion yen in 2023 and three.5 billion yen within the first half of 2024.
PROMOTION EFFORTS
With an extra 5 billion yen price range from the federal government, the JETRO has supported 170 occasions prior to now 12 months to advertise scallops, yellowtail and different fishes in additional than 70 cities in Japan and overseas, together with Davos, Switzerland and San Francisco, in keeping with Ishiguro and one other JETRO official.
It has additionally invited famend cooks, influencers and consumers from overseas to tour fish markets and fisheries in Japan, whereas campaigns in Thailand promoted Japanese seafood in non-Japanese eating places like Thai, Italian, Chinese language.
Mission have additionally been despatched to Vietnam and Mexico to discover various processing websites for scallops, aiming to exchange China’s provide chain, Ishiguro added.
Development will be anticipated in rising markets like Japanese Europe and the Center East, he famous, mentioning that there are 2,000 Japanese eating places in Poland alone.
The weak yen and the growth in Japan tourism are additionally contributing components, he stated, including there is no such thing as a longer any reputational threat linked with Japanese seafood outdoors of China.
($1 = 147.1500 yen)
(Reporting by Yuka Obayashi and Katya Golubkova; Modifying by Himani Sarkar)
