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Japanese Scallop Exports to the US, Taiwan, and Southeast Asia Soar

JAPAN
Friday, July 12, 2024, 07:00 (GMT + 9)

Japan's exports of raw frozen scallops to Vietnam and Thailand increased significantly in May, while exports of frozen meat to the United States and Taiwan also grew.

Japanese scallops have tapped into new markets with larger shipments of frozen scallops to the United States and Taiwan and exports of more raw materials to Southeast Asia, Vietnam and Thailand for processing.

Source: Stockfile FIS

Japan has been keen to diversify its scallop export markets since last August when China imposed a comprehensive ban on Japanese seafood following treated water from the Fukushima nuclear power plant. damaged and discharged into the sea. China is Japan's largest scallop export market.

This country has found a new market for scallops, after no shipments to China since September 2023.

Source: Steakationph -->

According to customs data from the Ministry of Finance, Japan's export price of raw frozen scallops in the shell averaged 225 yen/kg ($1.65/kg) in May. Prices have increased month-on-month in two consecutive months after bottoming out at 155 yen/kg (USD 0.96) in March.

Exports of whole shell scallops to Vietnam increased 831% over the same period last year to 1,911 tons in May 2024. The average price was down 52% year-on-year at 245 yen/kg (USD 1.52), but 75% higher than in April and March.

Exports to Thailand in May 2024 reached a record high of 1,201 tons, compared to zero the previous year. Exports in May alone surpassed the figure of 722 tons for the whole of 2023.

Japan exported 240 tons of raw scallops in May, a strong growth compared to 0.35 tons in the same period last year.

<-- Source: Alli-rose 

The participation of Chinese processors may be responsible for the increase in exports of raw scallops. They bought large quantities of raw scallops from Japan at higher prices than before the ban, and their stocks are now depleted. So they turned to Southeast Asia to continue processing for the United States and their domestic market.

However, total export volume fell 65% year-on-year to 3,862 tonnes in May, showing that this new market has not yet caught up with China, where about 95,000 tonnes of raw scallops were exported. annual export.

Meanwhile, Japan's frozen scallop meat exports decreased by 52% to 657 tons in May 2024, with an average price of 2,784 yen/kg, up 94% over the same period last year. Exports to the United States and Taiwan jumped 62% and 24% to 156 tons and 182 tons, respectively.

Source: Sandsonfrozen -->

The average price for the US market remained stable at around 2,700-2,900 Yen/kg (USD 16.71 - 17.95) from February to May, while the price for the Taiwan market increased from 2,700 Yen/kg to 3,300 Yen /kg (USD 20.43) during the same period.

With limited supply, the domestic wholesale price at Tamarei has now increased from 2,500 yen/kg (USD 15.47) for size 3 to nearly 3,000 yen/kg (USD 18.57), the source said.

The wholesale price of frozen scallop meat remains stable at about 4,000 yen/kg after the imposition of a 10% consumption tax since January.

Source: Vasep (Translated from the original in Vietnamese)

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