Japan expands scallop exports outside China

Wholesale and retail prices for tamarei scallops in Tokyo have increased by about 30% and 20-30% respectively, compared to last year, following China's ban on Japanese seafood imports due to nuclear waste water discharge. The price surge has almost restored to pre-ban levels. In 2022, China accounted for half of Japan's scallop export revenue, which saw a 42% increase from the previous year. The ban resulted in a drop in domestic consumption and a surge in household spending. Despite the fall in exports in the first half of 2024, Japan aims to boost its seafood exports to 1.2 trillion yen by 2030, positioning scallops as a key product.

At Tokyo's Toyosu Market, tamarei is a fresh scallop used in sushi, tempura, Chinese cuisine and other dishes. In mid-August, wholesale prices for tamarei were 3,200-3,300 yen (22-23 U.S. dollars) per kilogram, up about 30% from the same period last year. At Tokyo fish shops, defrosted tamarei sashimi is sold at 498-598 yen per 100 grams, up 20%-30%. Both wholesale and retail prices have almost returned to the levels before China's ban. . On August 24 last year, China stopped importing seafood from Japan due to Japan's discharge of nuclear waste water. Scallops are Japan's main export product, and China is its largest export destination. In 2022, scallop exports amounted to 91.1 billion yen, an increase of 42% over 2021, and export revenue to China accounted for 50% of total revenue. Due to the sudden closure of sales channels, Japanese scallops piled up in the production area with nowhere to go. In Toyosu, the price of Tamarei fell by 20%-30% in a month to 2,500 yen per kilogram. ...