Japan’s fishing industry is getting hit with falling prices and growing uncertainty after the Chinese government imposed a ban on the country’s marine products in response to its release of wastewater from the Fukushima No. 1 nuclear plant into the Pacific Ocean.
China is the largest single market for Japanese seafood exports at ¥87.1 billion ($600 million) last year, according to government trade statistics. Among the most popular products are scallop, tuna, sea urchin, snapper and sea cucumbers or namako.
The average price of fresh Aomori tuna at the Toyosu market in Tokyo fell 24% on Aug. 25 from the previous day to ¥9,383 per kilogram, according to data posted on the Tokyo Metropolitan Central Wholesale Market website. One Hokkaido firm that specializes in exports to China and Hong Kong plans to shut down and lay off its 20-person staff, according to a person at the company that asked for anonymity as it sorts through its financial affairs.
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