Hokkaido scallops in Japan are currently in the harvest season, and the price of raw materials in the season has fallen by 50%

According to data provided by the Iburi Funka Bay Fishery Cooperative in Japan,

From October 2023 to February 2024, the average price of shelled scallops has fallen sharply, down 50% from the same period last year.

After entering the peak fishing season, although the price has stabilized, the supply has slowed down due to drought. This price change may have a certain impact on fishery cooperatives and related industrial chains.

Specifically, the average price is JPY 159/kg, which is equivalent to about $1.08/kg. Compared with the same period last year, this price has dropped by 50%, because the average price in the same period last year was JPY 329/kg.

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Trying to open up the road to export to Vietnam

On January 22, the Japan External Trade Organization (JETRO) and others sent Japanese fishery merchants to Vietnam to inspect the fishery processing plants of local companies. This is to find a processing site for Japanese scallops, and it is the first time to send an inspection team. Since China, the main export destination in the past, has banned the import of Japanese seafood, Japan is exploring new sales channels. The Japan External Trade Organization and others are also considering sending companies to Mexico, which is close to the consumption area of ​​the United States, for inspection in the spring of 2024.