Japan Fosters Seafood Exports Amid Chinese Ban

By Yuka Obayashi and Katya Golubkova

TOKYO (Reuters) – Japan is enhancing its promotional efforts to increase seafood exports to various markets across Asia, the U.S., and Europe, compensating for a significant loss due to a year-long import ban from China, as stated by Norihiko Ishiguro, chairman of the Japan External Trade Organization (JETRO).

Previously, China was the largest market for Japanese seafood. However, it imposed a ban citing potential radioactive contamination risks after treated water was released from the Fukushima nuclear plant last August.

In the first half of 2024, Japanese agricultural, forestry, and fishery product exports saw their first decline since 2020, plummeting by 43.8% to China, with scallops experiencing a notable 37% drop year-on-year.

Despite this, Ishiguro mentioned that while Japan has not yet fully compensated for the lost volume to China, exports to the U.S., Canada, Thailand, and Vietnam are on the rise, creating a positive shift toward alternative markets.

JETRO is focusing on diversifying export destinations by establishing new commercial channels for scallops and other products affected by the Chinese ban.

Ishiguro highlighted that their promotional efforts have redirected 20-30% of scallop exports previously lost to China.

Ishiguro expressed optimism about the potential for Japanese seafood exports to recover quickly from the impacts of China’s ban. In 2022, Japan’s aquatic product exports to China amounted to 87.1 billion yen ($592 million), but this figure dropped significantly, reflecting a plunge to 61 billion yen in 2023 and just 3.5 billion yen in the first half of 2024.

PROMOTIONAL EFFORTS

With a supplementary budget of 5 billion yen from the government, JETRO has organized 170 promotional events in the past year, advocating for scallops, yellowtail, and other seafood in locations including Davos, Switzerland, and San Francisco.

They have also facilitated tours for international chefs, influencers, and buyers through Japanese fish markets and fisheries, while campaigns in Thailand have promoted Japanese seafood in non-Japanese restaurants.

Furthermore, missions to Vietnam and Mexico aim to explore alternative scallop processing sites to replace the previous supply chain dependence on China.

Emerging markets in Eastern Europe and the Middle East are anticipated to see growth, with Ishiguro noting that Poland alone hosts around 2,000 Japanese restaurants.

The weak yen and a surge in tourism to Japan are additional supportive factors. Ishiguro reassured that there’s no longer any reputational risk associated with Japanese seafood beyond China.

($1 = 147.1500 yen)