China’s planned resumption of Japanese seafood imports may or may not lead to a recovery of exports in the domestic seafood industry. The timing of the resumption is uncertain, making it difficult to predict the extent of any potential recovery.
Due to China’s suspension of seafood imports from Japan, the total value of agricultural, forestry, and fishery product exports in the first half of 2024 decreased by 1.8% compared to the previous year. This marked the first decrease in four years, with exports to China specifically plummeting by 43.8%.
Before Japan began discharging treated water from the Fukushima No. 1 nuclear power plant in 2022, scallops accounted for over half of Japan’s seafood exports to China.
Since being hit by the import ban, Japan’s domestic seafood industry has been striving to reduce its reliance on China. There is now a growing trend within the industry to develop new export markets and expand sales channels, particularly for scallops.
Although scallop exports in the first half of 2024 declined by 37.2% compared to last year, efforts to expand sales channels are starting to show positive results. Exports to the United States increased by 64.1%, while exports to Vietnam rose nearly eightfold.
Nevertheless, many are hopeful that exporting goods back into China will provide a much-needed boost for their businesses. A 74-year-old abalone fisherman from Tanohata expressed his optimism about this development as he experienced a significant income decrease last year due to price drops.
However, not everyone in the fishing industry shares this sentiment towards China’s move. A representative from a seafood processing firm that primarily dealt with scallops stated that they no longer have anything suitable for exportation there since losing their main market in China.
This company has shifted its focus towards Southeast Asia as an alternative export destination while also increasing domestic sales. They believe that even if Chinese imports resume, it will simply add another option rather than drastically changing their business strategy.
For now, Japan’s fishing industry will continue seeking new sales channels while closely monitoring when Chinese imports will resume.
