Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Teikoku Databank reported on Friday that China’s suspension of Japanese seafood imports after the wastewater release from the crippled Fukushima nuclear plant had affected over 700 Japanese food exporters.

The market research firm noted that 727 Japan-based companies exported food products to China, or 8% of all Japanese business entities that export goods to China.

Teikoku Databank also highlighted 316 Japanese companies that export food products to Hong Kong. The financial hub said this week it would immediately put in place import controls on Japanese seafood from 10 regions.

Yesterday Japan began to release over 1 million cubic tons of treated radioactive water from the Fukushima plant, which urged Chinese authorities to impose an immediate ban on all aquatic products from the island country.

Still, details on the specific aquatic products that have been banned were not provided.

Roughly $600 million worth of aquatic product exports were shipped from Japan to China last year. China and Hong Kong are the two largest markets for Japanese exports.

Also on Friday, South Korea announced that it would considerably expand radiation testing of farmed seafood. Authorities will conduct at least 4,000 additional tests at private institutions by the end of 2023 on farmed seafood products prior to shipping them, Vice Oceans Minister Park Sung-hoon told reporters at a news briefing.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: AUD/USD trading outlook for November 30thForex Market: AUD/USD trading outlook for November 30th Friday’s trade saw AUD/USD within the range of 0.7180-0.7241. The pair closed at 0.7195, falling 0.44% on a daily basis, while marking its third consecutive trading day of losses. The daily low has been the lowest level since November 23rd, […]
  • Oil remains high and steady on U.S. data and Sudan oil threatOil remains high and steady on U.S. data and Sudan oil threat WTI crude and Brent oil were slightly down on Monday, but still near two-week highs as U.S. labor figures published by the Bureau of Labor Statistics on Friday offset disappointing China data during the weekend. The U.S. economy has created […]
  • OSI Systems secures $11 mln order for electronic assembliesOSI Systems secures $11 mln order for electronic assemblies OSI Systems Inc (NASDAQ: OSIS) said on Wednesday that its Optoelectronics and Manufacturing division had secured an order valued at nearly $11 million to provide critical electronic sub-assemblies for a leading-edge healthcare original […]
  • Gold trading outlook: futures steady after gaining significantly on Ukraine yesterday, US data weighGold trading outlook: futures steady after gaining significantly on Ukraine yesterday, US data weigh Gold futures kept steady during early trading in Europe today, after yesterday the precious metal dipped to the lowest price since early February on strong US data, before recovering with developments on the crisis in Ukraine.Gold futures […]
  • Google Inc. secures stability in technology patent warsGoogle Inc. secures stability in technology patent wars Google Inc. has managed to enter the top ranks of technology companies building stockpiles of legally-protected innovations, thanks to the fact that the company was awarded nearly 2,000 patents in the U.S. over 2013. This is almost double the […]
  • Total SA acknowledges foreign briberyTotal SA acknowledges foreign bribery The French energy giant company agreed to pay $400 million acknowledging it payed huge bribes to secure drilling rights in Iran. The CEO is most likely going to face a criminal trial in France.Total accepted the allegations of the […]