In February 2024, Japan's seafood exports totaled 34,262 tons, generating a revenue of 29.9 billion yen, marking a slight decline from the previous year with a 3% drop in volume and a 6% decrease in value. A significant increase was noted in the export of frozen shelled scallops, particularly to Vietnam and Thailand, which surged year-on-year to 2,033 tons despite a 28% fall in average price. This growth in scallop exports, especially to new markets, compensated for the absence of exports to China, traditionally a major recipient of Japanese scallops.
The export volume of scallop shells in the early months of 2024 showed a 41% increase, reaching 2,386 tons, buoyed by the substantial rise in exports to Vietnam and Thailand. Despite this uptick, there is anticipation of a decline in scallop exports in March due to the commencement of the harvest season in Hokkaido. Historical data reveal a substantial volume of scallop exports to China in the preceding years, underscoring the shift in market dynamics and processing capacities between China and other Asian countries like Vietnam and Thailand.
Further complexities in the seafood trade are illustrated by the imposition of voluntary restrictions on scallop exports from Hokkaido due to toxic algae concerns, impacting the movement of scallops out of the region. Meanwhile, the export of fresh scallop shells experienced a significant rise, particularly to the United States, Taiwan, Vietnam, and the Netherlands. Conversely, frozen yellowtail fillet exports declined, with a notable decrease in shipments to the United States, contrasting with a significant increase in live yellowtail exports to South Korea.