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Japan looks to increase seafood exports to brand-new markets after Chinese ban, trade body says

Japan is increase advertising efforts to boost seafood exports to more locations in Asia, the U.S., and Europe as it seeks to fill a. sales gap left by a yearlong Chinese import restriction, the head of. the Japan External Trade Organization said.

China, formerly the biggest market for Japanese seafood. exports, prohibited purchases of Japanese-origin seafood pointing out threat. of radioactive contamination after Tokyo Electric Power. started launching treated water from the wrecked Fukushima. nuclear reactor into the Pacific Ocean last August.

Japan's exports of agricultural, forestry and fishery. products in the very first half of 2024 succumbed to the first time considering that. 2020 as exports to China plunged 43.8%. Scallops were the. hardest-hit, dropping 37% year-on-year.

We haven't yet completely made up for the loss from China in. volume, but exports to the U.S., Canada, Thailand and Vietnam. are increasing, considerably improving momentum in option. markets, said Norihiko Ishiguro, the chairman of the Japan. External Trade Organization, or JETRO.

The government-backed trade body is promoting the. diversity of export destinations for scallops and other. items affected by China's curb by establishing brand-new commercial. channels in Asia, the U.S., and Europe, he included.

Our extensive marketing efforts have enabled us to. reroute 20-30% of the scallop exports lost due to China's. import ban, Ishiguro stated on Friday, ahead of the very first. anniversary of the Fukushima water release on Aug. 24.

There is considerable development potential for Japanese seafood. exports ... it won't take long to offset the space caused by. China's restriction, he included.

Japan exported 87.1 billion yen ($ 592 million) worth of. marine items to China in 2022, making it the greatest market. for Japanese exports, according to government data. The figure,. that includes pearl and coral, plunged to 61 billion yen in. 2023 and 3.5 billion yen in the first half of 2024.

PROMOTION EFFORTS

With an additional 5 billion yen budget from the government,. the JETRO has supported 170 occasions in the previous year to promote. scallops, yellowtail and other fishes in more than 70 cities in. Japan and abroad, including Davos, Switzerland and San. Francisco, according to Ishiguro and another JETRO authorities.

It has actually also invited renowned chefs, influencers and buyers. from abroad to tour fish markets and fisheries in Japan, while. campaigns in Thailand promoted Japanese seafood in non-Japanese. restaurants like Thai, Italian, Chinese.

Objective have actually also been sent to Vietnam and Mexico to explore. alternative processing websites for scallops, intending to replace. China's supply chain, Ishiguro added.

Development can be anticipated in emerging markets like Eastern. Europe and the Middle East, he noted, pointing out that there. are 2,000 Japanese dining establishments in Poland alone.

The weak yen and the boom in Japan tourism are also. contributing aspects, he stated, including there is no longer any. reputational threat linked with Japanese seafood outside of China.

(source: Reuters)