Importation of Hokkaido scallops by China

Japan's Frozen Scallop Exports Surge Despite Trade Ban

JAPAN
Friday, January 10, 2025, 00:10 (GMT + 9)

Amidst global supply chain challenges, Japan's frozen scallop exports have demonstrated remarkable resilience, cementing their place as a key player in the international seafood market.

Recent statistics reveal that Japan's scallop export volume for November 2024 reached 3,365 tons, marking an impressive 85% year-on-year increase. Export value surged by 91% to 7.18 billion yen. Both frozen scallop meat and peeled scallops contributed significantly to this growth, injecting fresh momentum into the market.

Photo: courtesy NHK video

Record-High Frozen Scallop Prices as U.S. Market Leads

The export volume of frozen scallop meat (HS code 030722100) rose 26% year-on-year, while its export value soared by 79% year-on-year. Notably, the average price of frozen scallops reached a record high of 3,586 yen (approximately $22.81 USD) per kilogram, reflecting a 42% increase.

The United States remains Japan's largest export market for scallops. In November, shipments to the U.S. rose by 42% to 786 tons, with export value climbing 116% year-on-year to 3.244 billion yen. Average export prices also surged by 52% year-on-year to 4,128 yen/kg ($26.2 USD/kg), far surpassing the December 2023 low of 2,665 yen/kg.

Photo: courtesy NHK video

Raw in-shell scallop exports (HS code 030722900) saw even greater growth, with volumes skyrocketing 313% year-on-year to 1,535 tons. Export value leapt 528% to 613 million yen, while average prices climbed 52% to 399 yen ($2.54 USD) per kilogram. Additionally, exports to Southeast Asian markets, including Thailand and Vietnam, exhibited substantial growth, highlighting increasing market diversification.

Hopes for Resumed Trade with China

Japan's scallop trade with China has been at a standstill since September 2023, following China’s ban on Japanese seafood imports in response to the Fukushima nuclear spill incident. However, recent developments suggest a potential thaw in trade relations. Discussions of policy adjustments may coincide with the China-Japan-South Korea summit planned for mid-2025, which could involve Chinese leadership visiting Japan.

Photo: FIS

A resumption of seafood trade with China would not only restore Japan's access to a critical market but also signal China's strategic intent to bolster trade partnerships amid a challenging global economic landscape.

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