Japan has sought to reassure the international community the facility is under control but South Korea has banned fishery imports from the affected region.
Even though most frozen pollock comes to South Korea from Russian waters, sales of fish have plunged before South Koreans mark the main annual holiday this week.
Japanese officials have been lobbying — without success — to have the ban lifted.
“I watched the news and will not put frozen pollock pancakes on the table this year, although they have always been there,” Lee said at a fish market in central Seoul. “Maybe I will prepare mung bean or beef pancakes instead.”
Pancakes are one of the dishes traditionally placed on the table to honor ancestors and then shared by the family once the ritual is complete.
“Sales are more than 60 percent down and stocks are all piled up,” said Park Sun-young, who sells frozen pollack. “We keep telling people that these are not Japanese fish but people don’t believe it.”
Kim Heon-tae, an official at the Korea Overseas Fisheries Association, said 98 percent of imported frozen pollack comes from Russian waters.
Even so, Hansung Enterprise, a South Korean fisheries company, said sales of frozen pollack fell 42.5 percent between January and August from a year earlier.
“This is the toughest time I have ever seen,” said Park as she sliced pollack that no one appeared to want. Park runs her parents’ shop, which has been in business for 20 years.
Scientists have played down the risk of contamination.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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