Seafood proves sweet spot in Japan’s exports on weak Yen
SEAFOODNEWS.COM [Bloomberg] By Keiko Ujikane and Aya Takada - Oct 22, 2014
Seafood is a sweet spot in Japanese exports this year that’s pushing sales of food abroad to a record and gaining strength as the yen weakens.
Food shipments increased every month this year through September as the currency fell 4 percent, putting them on course to exceed the all-time high of 436 billion yen ($4.1 billion) in 2013. That contrasts with total exports from Japan, which haven’t recovered to their 2008 peak, even as data yesterday showed increases for motor vehicles, ships and steel.
Demand in Asia and the Middle East for everything from Japanese scallops to the finest cuts of tuna for sashimi is spurring seafood sales that account for about 40 percent of food exports. While cars, machinery and electronics remain powerhouses for Japan, food shipments mean jobs in rural areas and are vital to the Abe administration’s regional revitalization...
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