Japan's Scallop Exports Are Sluggish as Production Falls, and Buyers Wait for Lower Prices
SEAFOODNEWS.COM [SeafoodNews] Sept 1, 2016
Reports from Japan suggest that even though scallop production is down, export sales are slow at this time as buyers are not convinced they have seen a market bottom.
The reason for the declining price is the strengthening Japanese Yen. This does not mean that prices are declining in US currency, and the US is the major export market for Japanese scallops.
Japanese traders are most comfortable when there is a general agreement on pricing. In the current environment, traders expect that it will take some time before prices are "set" on scallop exports.
Producers, worried about holding excess inventory into this season, which began in June, revised prices downward in July and August. But they have done so slowly,..
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