Japan Fishing Industry Hit by China’s Fukushima Embargo
- Tuna prices at the Toyosu market fell 24% in one day
- One Hokkaido firm plans to shut down, lay off entire staff
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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 decision to release wastewater from the Fukushima nuclear site into the Pacific Ocean.
China is the largest single market for Japanese seafood exports at 87.1 billion yen ($600 million) last year, according to government trade statistics. Among the most popular products are scallops, tuna, sea urchin, snapper and sea cucumbers or namako.