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Among Japan’s exports, cars and game consoles get the most attention. But the country’s overseas sales of seafood, including scallops, mackerel, tuna and sea cucumber, make their own contribution to the economy. Global demand for Hokkaido’s scallops has been especially high in recent years. That is at risk.
Japan will start releasing treated radioactive water from its Fukushima nuclear plant into the Pacific Ocean on Thursday. Since the tsunami destroyed the plant in 2011, more than 1.3mn tonnes of water, enough to fill 500 Olympic-size pools, has been sitting in holding tanks.
The Japanese government and the International Atomic Energy Agency insist the release of waste water is safe. But local opposition remains vociferous, especially from fishermen in the Fukushima region. They have seen catch sizes drop since the disaster.
The hostility of neighbouring countries, notably China, will have a bigger economic impact. It has accused Japan of using the sea as its “private sewer”.
Tokyo Electric Power Company is filtering the water to remove some radioactive substances. But not all of these can be eliminated, including tritium. This emits ionising radiation that can damage DNA.
China has questioned the safety of Japan’s plan and the accuracy of its testing. It has already banned seafood exports from some Japanese prefectures. Officials vowed to take further action to safeguard food safety on Wednesday. Hong Kong said it would “immediately activate” import curbs on some Japanese food products.
China, including Hong Kong, is by far Japan’s biggest customer when it comes to seafood, accounting for 42 per cent of all Japan’s seafood exports. For some products, the reliance on China is much higher. For example, more than two-thirds of all sea cucumber exports go to China. Agricultural and seafood purchases from China alone accounted for more than $3.3bn last year.
Shares of local seafood companies Maruha Nichiro and Daisui have fallen since May, reflecting concerns about export curbs. Costs are rising amid a global supply shortage of fishmeal. This is pushing up prices, as demand increases. Norway’s seafood exports hit a record during the first half.
Japan’s seafood exports mean it has much to lose from the release of treated radioactive water. Rival seafood businesses in the rest of the world have just as much to gain.
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