Japan S Squid Market

Identifies markets for U.S. squid products with special emphasis on the export potential for squid species available to U.S. fishermen. The squid fishery is one of the fastest growing fisheries in the world. World squid production has nearly tripled during the past two decades, and is still growing in order to keep pace with the continuing rise in demand. Includes: data on catch, imports, cold storage holdings, consumption (markets), characteristics unique to the Japanese squid market. Includes recommendations on strategies to expand U.S. squid sales to Japan. 36 charts and tables.

"Japan was the world's largest producer of squid and cuttlefish until 2001, but its share of world landings has decreased sharply from 87 percent in 1950 to 16 percent in 2002. Japanese landings in 2003 of 382,000 metric tons percent of the record landings, and were the lowest in 39 years. (mt) were 49 Japan is a major market for squid and cuttlefish, utilizing an average of 672,000 mt per year during 1982-2003. this market comes from both domestic catches and imports. share of the Japanese market for squid supplied by imports increased from 13 percent in 1982 to 19 percent in 2003. 2003, imports were worth $526 million. Frozen products dominated, representing 68 percent both in volume and value in 2003. Japanese imports of frozen squid from the United States in 2003 were 6,246 mt valued at $9.2 million, percent in quantity and 39 percent in value over 1999 imports. Supply for The In an increase of 58 Prices of squid are primarily determined by supply and demand, but quality, origin, and species are also important. During 1997-2003, the highest annual average wholesale prices at Tokyo Central Wholesale Market for fresh Todarodes pacificus occurred in 1998, for frozen T. pacificus in 1997, for fresh Ommastrephes bartrami in 1997, and for Illex argentinus in 2003, which corresponded to periods of low supply of these products. Squid and cuttlefish products imported into Japan are subject to import quotas (IQ) and tariffs. To meet strong demand for squid, the Japanese government increased the IQ for fresh and frozen squid from 7,000 mt for 1971 to 53,000 mt for 1986, and then to 59,950 mt for 2004. Processed squid which have been flavored, such as smoked, prepared, or preserved products, are exempted from IQ. Common cuttlefish (Sepia officinalis), which is not caught in Japanese waters, has been exempted from IQ since 1978. As the United States and Japan are signatories to the World Trade Organization (WTO), WTO tariffs apply to imports of squid products from the U.S. : 3.5 percent for fresh or frozen cuttlefish, 5 percent for fresh or frozen squid, 6.7 percent for smoked products, 15 percent for dried products. Tariff rates are calculated as a percentage of total cost, including insurance and freight."--Executive summary.