FX.co ★ Japan’s seafood exports down after Fukushima water release

Exports of Japanese seafood dropped sharply in August as Tokyo started to release treated waste water from the damaged Fukushima nuclear power plant. China was the first trade partner to slash its seafood imports from Japan. According to Japan’s Chief Cabinet Secretary Matsuno Hirokazu, fish exports to China began to decline this summer, falling by 23% in July. After Japan’s announcement to discharge treated radioactive water into the Pacific Ocean, its seafood export volumes dropped across the board. Thus, sales of Japanese seafood in Hong Kong decreased by 11% in August. Meanwhile, mainland China imposed an indefinite ban on all seafood imports from Japan despite claims that treated Fukushima water was safe. Chinese authorities expressed their serious concern over the situation and condemned Japan’s “wrongful decision.” China’s foreign ministry spokesperson stressed that "the government of Japan has not proved the legitimacy of the decision to discharge the water into the sea." To alleviate fears and promote the safety of the sea products, Japan’s Prime Minister Fumio Kishida ate sashimi comprising flatfish, sea bass, and octopus caught off the coast of Fukushima. Economy, Trade and Industry Minister Yasutoshi Nishimura also confirmed that octopus sourced from the Fukushima area was “safe and delicious.”