Required Report - public distribution

**Date:** 10/28/2004

**GAIN Report Number:** JA4081

JA4081

**Japan**

**Fishery Products**

**Annual Report**

**2004**

**Approved by:**

![](media/image1.wmf)Richard Battaglia

U.S. Embassy

**Prepared by:**

Kakuyu Obara

**Report Highlights:**

Japan's salmon imports are expected to grow in 2005, supported by solid
consumption, while 2004 imports are projected to rise by 6% to 230,000
MT due to stronger demand late in the year and smaller domestic
supplies. Salmon exports from Japan are expected to drop 15% in 2004.
Japanese salmon egg and roe consumption and imports are expected to ease
slightly in 2005. Imports of U.S. eggs and roe are projected to increase
in 2004. Despite high prices, imports of U.S. surimi are expected to
remain relatively strong in 2004 due to strengthened demand in the value
segment of the Japanese market, and smaller supplies of Asian surimi.
Consumption of Pollock and cod roe is expected to strengthen late in
2004, benefiting Alaskan suppliers.

Includes PSD Changes: Yes

Includes Trade Matrix: Yes

Annual Report

Tokyo \[JA1\]

\[JA\]

Table of Contents

[**Salmon and (Trout) Section 3**](#salmon-and-trout-section)

[2005 Market Outlook Summary 3](#market-outlook-summary)

[Solid consumption of salmon and trout forecast in 2005
3](#solid-consumption-of-salmon-and-trout-forecast-in-2005)

[2004 Market Situation and Update 3](#market-situation-and-update)

[Strengthened demand raises imports in 2004
3](#strengthened-demand-boosts-imports-in-2004)

[Smaller Domestic Chum Catch and Lower Exports Forecast in 2004
3](#smaller-domestic-chum-catch-and-lower-exports-forecast-in-2004)

[Country of Origin Labeling Required for Fishery Products
3](#country-of-origin-labeling-required-for-fishery-products)

[Salmon and Trout Roe (Sujiko) and Eggs (Ikura) Section
6](#salmon-and-trout-roe-sujiko-and-eggs-ikura-section)

[2005 Market Outlook Summary 6](#market-outlook-summary-1)

[2004 Market Situation and Update 6](#market-situation-and-update-1)

[Demand for Ikura (Prepared Egg) to Remain Solid in 2004
6](#demand-for-ikura-prepared-egg-to-remain-solid-in-2004)

[Modest Increase in Imports Forecast Catering Toward Growing Ikura
Market
7](#modest-increase-in-imports-forecast-catering-toward-growing-ikura-market)

[Surimi Section 9](#surimi-section)

[2005 Market Outlook Summary 9](#market-outlook-summary-2)

[2004 Market Situation and Update 9](#market-situation-and-update-2)

[Demand for Surimi Based Products Strengthened in 2004
9](#demand-for-surimi-based-products-strengthened-in-2004)

[Modest Increase in Surimi Imports Forecast in 2004
9](#modest-increase-in-surimi-imports-forecast-in-2004)

[Pollock/Cod Roe Section (Tarako) 11](#pollockcod-roe-section-tarako)

[2005 Market Outlook Summary 11](#market-outlook-summary-3)

[2004 Market Situation and Update 11](#market-situation-and-update-3)

[Trade Anticipates Consumption to Pick-up
11](#trade-anticipates-consumption-to-pick-up)

[Imports of Alaskan and Russian Roe to Grow in 2004 Despite High Prices
12](#imports-of-alaskan-and-russian-roe-to-grow-in-2004-despite-high-prices)

[Salmon and Trout PS&D Table 13](#salmon-and-trout-psd-table)

[Surimi PS&D Table (Required) 14](#surimi-psd-table-required)

[Salmon/Trout Roe and Egg PS&D Table (Voluntary)
15](#salmontrout-roe-and-egg-psd-table-voluntary)

[Pollock and Cod Roes PS&D Table (Voluntary)
16](#pollock-and-cod-roes-psd-table-voluntary)

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# The following report has been cleared by Tom Asakawa, USRCS/NMFS/NOAA/USDOC 

# Salmon and (Trout) Section

## 2005 Market Outlook Summary

### Solid consumption of salmon and trout forecast in 2005

Assuming Japan's domestic salmon catch (ocean catch, river harvest and
aquaculture Coho combined) is projected at about average (at 270,000
MT), salmon imports are expected to increase modestly in 2005.
Additional country of origin labeling requirements on processed seafood
(including prepared products) starting in September 2004, will likely
support sales of Alaskan wild salmon in 2005. Appealing to wide
audiences by using terms such as "wild" and "natural" is key (See 2004
Market Situation and Update). Export prices for the Japanese market will
remain competitive as demand for wild and natural salmon, including
Alaskan salmon, remains solid in 2005. Chile will remain the major
salmon supplier to Japan in 2005, catering to conventional retail and
food service market needs.

## 2004 Market Situation and Update

### Strengthened Demand Boosts Imports in 2004

Japan's annual consumption of salmon and trout is forecast to drop by 2%
in 2004 to 475,000 MT. Retail and food service demand has reportedly
strengthened in the second half of the year pushing market prices
upward. However, recovery during this period is unlikely to offset slow
consumption during the first part of the year. Stronger demand, smaller
domestic fall chum catches, and higher market prices are factors leading
to increased imports in 2004, which are projected to rise by 6% to
230,000 MT. For January -- August, salmon and trout imports were up 17%
to 172,906 MT with increases from the United States, Canada, Chile and
Russia more than offsetting declines from Norway and other European
Union (EU) suppliers (See Tables 1-a and 1-b). A strong recovery in
imports of farm-raised salmon from Chile has made up for reduced imports
from other suppliers of farm-raised salmon. Japan's year-ending stocks,
impacted by relatively solid consumption and smaller domestic catches,
are expected to be lower than the year beginning.

According to trade sources, the Bristol Bay sockeye catch is reportedly
up by 71% in 2004. Reflecting the increased catch, Japan's imports of
Alaskan sockeye (HS 030311) through August 2004 nearly doubled (to
23,907 MT) compared to 2003 (See Tables 2-a and 2-b). Local (non-Bristol
Bay) production in Alaska has reportedly been destined for other
international markets or for the U.S. market, where demand for wild
salmon is reportedly strong. In light of this situation, Japan's imports
of Alaskan salmon and trout in 2004 are projected at about 30,000 MT on
customs clearance basis, up 7% from 2003. Imports of Russian Sockeye
salmon are not expected to increase, even though the summer catch has
been strong, because Russian demand is reportedly solid.

### Smaller Domestic Chum Catch and Lower Exports Forecast in 2004

####  

Japan's domestic catch is projected 7% lower in 2004 at 290,000 MT
(ocean catch, farm-raised Coho and river harvest combined), based on
interim data as of September 2004. The ocean catch alone is projected to
reach 270,000 MT, down by 6% from the abundant 2003 catch (287,000 MT),
which was the highest level in eight years. The smaller catch and higher
market prices are expected to slow Japan's exports of fall chum to
China, which are projected to fall by 14% to 55,000 MT. China reportedly
exports processed imported salmon and trout from Japan to EU countries
(See Tables 3-a and 3-b).

### Country of Origin Labeling Required for Fishery Products

Due to series of food mislabeling incidents in Japan over the past
several years, the Government has mandated country (and place) of origin
labeling requirements for fishery products. Distinctions between "farm
raised" and "wild" products will be more clearly indicated on labels.
Adding to this, place of origin labeling on "processed and prepared
fisheries and seafood" have been made mandated since September 2004,
with a two-year grace period for implementation. Products covered
include dried, salted-dried, steam-boiled, brined, seasoned and
flavored, and breaded products for frying. This expended country of
origin labeling for fisheries and seafood is expected to provide
consumers with more fair selection criteria including Alaskan wild
salmon, salmon hard roe and brined and marinated ikura, Pollock roe etc.
Like last year, Hokkaido's fishery industry is aggressively promoting
its fall season salmon by using "domestic origin" and "wild" on labels
and in advertising throughout the country. The Alaskan Seafood Marketing
Institute has been active in promoting wild Alaskan salmon and seafood.
An ASMI press mission to Alaska this summer appears to be yielding
positive results. A Japanese reporter that participated in the mission
wrote a series of articles on Alaskan troll-caught salmon, which has
helped to raise retail interest in high quality wild salmon from Alaska.

# 

Table 1-a. Japanese Total Salmon and Trout Imports

+----+---------------+------------+------------+-----------+---------+
| ** |               |            |            |           |         |
| Sa |               |            |            |           |         |
| lm |               |            |            |           |         |
| on |               |            |            |           |         |
| a  |               |            |            |           |         |
| nd |               |            |            |           |         |
| T  |               |            |            |           |         |
| ro |               |            |            |           |         |
| ut |               |            |            |           |         |
| T  |               |            |            |           |         |
| ot |               |            |            |           |         |
| al |               |            |            |           |         |
| I  |               |            |            |           |         |
| mp |               |            |            |           |         |
| or |               |            |            |           |         |
| ts |               |            |            |           |         |
| ** |               |            |            |           |         |
|    |               |            |            |           |         |
| ** |               |            |            |           |         |
| Qu |               |            |            |           |         |
| an |               |            |            |           |         |
| ti |               |            |            |           |         |
| ty |               |            |            |           |         |
| ** |               |            |            |           |         |
|    |               |            |            |           |         |
| *  |               |            |            |           |         |
| *J |               |            |            |           |         |
| an |               |            |            |           |         |
| ua |               |            |            |           |         |
| ry |               |            |            |           |         |
| -- |               |            |            |           |         |
| Au |               |            |            |           |         |
| gu |               |            |            |           |         |
| st |               |            |            |           |         |
| ** |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
|    |               |            |            |           | \%      |
|    |               |            |            |           | Change  |
+----+---------------+------------+------------+-----------+---------+
| Ra | Country       | \- MT --   | \- MT --   | \- MT -   | 04/03   |
| nk |               | 2002       | 2003       | 2004      |         |
+----+---------------+------------+------------+-----------+---------+
| *  | **            | *          | *          | **        | **17%** |
| *0 | \--World\--** | *189,715** | *148,309** | 172,906** |         |
| ** |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
| 1  | Chile         | 99,116     | 76,462     | 97,335    | 27%     |
+----+---------------+------------+------------+-----------+---------+
| 2  | Norway        | 39,306     | 31,726     | 26,437    | -17%    |
+----+---------------+------------+------------+-----------+---------+
| *  | **United      | **24,812** | **14,706** | *         | **70%** |
| *3 | States**      |            |            | *24,942** |         |
| ** |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
| 4  | Russia        | 14,586     | 12,718     | 13,987    | 10%     |
+----+---------------+------------+------------+-----------+---------+
| 5  | Canada        | 4,013      | 2,390      | 3,720     | 56%     |
+----+---------------+------------+------------+-----------+---------+
| 6  | Denmark       | 2,483      | 4,782      | 2,466     | -48%    |
+----+---------------+------------+------------+-----------+---------+
| 7  | New Zealand   | 3,225      | 2,221      | 2,141     | -4%     |
+----+---------------+------------+------------+-----------+---------+
| 8  | United        | 493        | 1,770      | 1,157     | -35%    |
|    | Kingdom       |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
| 7  | Others        | 1,682      | 1,533      | 721       | -53%    |
+----+---------------+------------+------------+-----------+---------+
| So |               |            |            |           |         |
| ur |               |            |            |           |         |
| ce |               |            |            |           |         |
| of |               |            |            |           |         |
| D  |               |            |            |           |         |
| at |               |            |            |           |         |
| a: |               |            |            |           |         |
| J  |               |            |            |           |         |
| ap |               |            |            |           |         |
| an |               |            |            |           |         |
| C  |               |            |            |           |         |
| us |               |            |            |           |         |
| to |               |            |            |           |         |
| ms |               |            |            |           |         |
| (  |               |            |            |           |         |
| WT |               |            |            |           |         |
| A) |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+

HS 030311, 030319,03021,030322, 030329, 030212,030211, 030211, and
030219

Table 1-b. Japanese Total Salmon and Trout Imports

+----+---------------+------------+------------+-----------+---------+
| ** |               |            |            |           |         |
| Sa |               |            |            |           |         |
| lm |               |            |            |           |         |
| on |               |            |            |           |         |
| a  |               |            |            |           |         |
| nd |               |            |            |           |         |
| T  |               |            |            |           |         |
| ro |               |            |            |           |         |
| ut |               |            |            |           |         |
| T  |               |            |            |           |         |
| ot |               |            |            |           |         |
| al |               |            |            |           |         |
| I  |               |            |            |           |         |
| mp |               |            |            |           |         |
| or |               |            |            |           |         |
| ts |               |            |            |           |         |
| ** |               |            |            |           |         |
|    |               |            |            |           |         |
| ** |               |            |            |           |         |
| Qu |               |            |            |           |         |
| an |               |            |            |           |         |
| ti |               |            |            |           |         |
| ty |               |            |            |           |         |
| ** |               |            |            |           |         |
|    |               |            |            |           |         |
| *  |               |            |            |           |         |
| *J |               |            |            |           |         |
| an |               |            |            |           |         |
| ua |               |            |            |           |         |
| ry |               |            |            |           |         |
| -- |               |            |            |           |         |
| De |               |            |            |           |         |
| ce |               |            |            |           |         |
| mb |               |            |            |           |         |
| er |               |            |            |           |         |
| ** |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
|    |               |            |            |           | \%      |
|    |               |            |            |           | Change  |
+----+---------------+------------+------------+-----------+---------+
| Ra | Country       | \- MT --   | \- MT --   | \- MT -   | 03/02   |
| nk |               | 2001       | 2002       | 2003      |         |
+----+---------------+------------+------------+-----------+---------+
| *  | **            | *          | *          | **        | *       |
| *0 | \--World\--** | *276,481** | *270,158** | 215,521** | *-20%** |
| ** |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
| 1  | Chile         | 139,530    | 123,072    | 93,355    | -24%    |
+----+---------------+------------+------------+-----------+---------+
| 2  | Norway        | 62,867     | 62,805     | 47,987    | -24%    |
+----+---------------+------------+------------+-----------+---------+
| *  | **United      | **32,690** | **31,702** | *         | *       |
| *3 | States**      |            |            | *28,374** | *-11%** |
| ** |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
| 4  | Russia        | 26,899     | 31,921     | 27,279    | -15%    |
+----+---------------+------------+------------+-----------+---------+
| 5  | Denmark       | 2,268      | 4,004      | 5,868     | 47%     |
+----+---------------+------------+------------+-----------+---------+
| 6  | Canada        | 6,072      | 7,655      | 4,458     | -42%    |
+----+---------------+------------+------------+-----------+---------+
| 7  | New Zealand   | 2,755      | 4,959      | 3,610     | -27%    |
+----+---------------+------------+------------+-----------+---------+
| 8  | United        | 864        | 1,082      | 2,653     | 145%    |
|    | Kingdom       |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+
| 9  | Others        | 2,535      | 2,958      | 1,937     | -35%    |
+----+---------------+------------+------------+-----------+---------+
| So |               |            |            |           |         |
| ur |               |            |            |           |         |
| ce |               |            |            |           |         |
| of |               |            |            |           |         |
| D  |               |            |            |           |         |
| at |               |            |            |           |         |
| a: |               |            |            |           |         |
| J  |               |            |            |           |         |
| ap |               |            |            |           |         |
| an |               |            |            |           |         |
| C  |               |            |            |           |         |
| us |               |            |            |           |         |
| to |               |            |            |           |         |
| ms |               |            |            |           |         |
| (  |               |            |            |           |         |
| WT |               |            |            |           |         |
| A) |               |            |            |           |         |
+----+---------------+------------+------------+-----------+---------+

HS 030311, 030319,03021,030322, 030329, 030212,030211, 030211, and
030219

Table 2-a. Japanese Sockeye Salmon Imports

+---+---------+-------------+-------------+-------------+-------------+
| * |         |             |             |             |             |
| * |         |             |             |             |             |
| 0 |         |             |             |             |             |
| 3 |         |             |             |             |             |
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| L |         |             |             |             |             |
| F |         |             |             |             |             |
| I |         |             |             |             |             |
| L |         |             |             |             |             |
| L |         |             |             |             |             |
| E |         |             |             |             |             |
| T |         |             |             |             |             |
| , |         |             |             |             |             |
| L |         |             |             |             |             |
| I |         |             |             |             |             |
| V |         |             |             |             |             |
| E |         |             |             |             |             |
| R |         |             |             |             |             |
| S |         |             |             |             |             |
| & |         |             |             |             |             |
| R |         |             |             |             |             |
| O |         |             |             |             |             |
| E |         |             |             |             |             |
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| , |         |             |             |             |             |
| F |         |             |             |             |             |
| R |         |             |             |             |             |
| O |         |             |             |             |             |
| Z |         |             |             |             |             |
| E |         |             |             |             |             |
| N |         |             |             |             |             |
| I |         |             |             |             |             |
| M |         |             |             |             |             |
| P |         |             |             |             |             |
| O |         |             |             |             |             |
| R |         |             |             |             |             |
| T |         |             |             |             |             |
| S |         |             |             |             |             |
| * |         |             |             |             |             |
| * |         |             |             |             |             |
|   |         |             |             |             |             |
| * |         |             |             |             |             |
| * |         |             |             |             |             |
| Q |         |             |             |             |             |
| u |         |             |             |             |             |
| a |         |             |             |             |             |
| n |         |             |             |             |             |
| t |         |             |             |             |             |
| i |         |             |             |             |             |
| t |         |             |             |             |             |
| y |         |             |             |             |             |
| * |         |             |             |             |             |
| * |         |             |             |             |             |
|   |         |             |             |             |             |
| * |         |             |             |             |             |
| * |         |             |             |             |             |
| J |         |             |             |             |             |
| a |         |             |             |             |             |
| n |         |             |             |             |             |
| u |         |             |             |             |             |
| a |         |             |             |             |             |
| r |         |             |             |             |             |
| y |         |             |             |             |             |
|   |         |             |             |             |             |
| - |         |             |             |             |             |
| A |         |             |             |             |             |
| u |         |             |             |             |             |
| g |         |             |             |             |             |
| u |         |             |             |             |             |
| s |         |             |             |             |             |
| t |         |             |             |             |             |
| * |         |             |             |             |             |
| * |         |             |             |             |             |
+---+---------+-------------+-------------+-------------+-------------+
|   |         |             |             |             | \% Change   |
+---+---------+-------------+-------------+-------------+-------------+
| R | Country | \- MT --    | \- MT --    | \- MT -     | 04/03       |
| a |         | 2002        | 2003        | 2004        |             |
| n |         |             |             |             |             |
| k |         |             |             |             |             |
+---+---------+-------------+-------------+-------------+-------------+
| * | *       | **34,281**  | **23,559**  | **34,135**  | **45%**     |
| * | *\--Wor |             |             |             |             |
| 0 | ld\--** |             |             |             |             |
| * |         |             |             |             |             |
| * |         |             |             |             |             |
+---+---------+-------------+-------------+-------------+-------------+
| * | *       | **22,539**  | **12,557**  | **23,907**  | **90%**     |
| * | *United |             |             |             |             |
| 1 | S       |             |             |             |             |
| * | tates** |             |             |             |             |
| * |         |             |             |             |             |
+---+---------+-------------+-------------+-------------+-------------+
| 2 | Russia  | 9,984       | 10,291      | 9,726       | -5%         |
+---+---------+-------------+-------------+-------------+-------------+
| 3 | Canada  | 1,387       | 614         | 475         | -23%        |
+---+---------+-------------+-------------+-------------+-------------+
| 4 | Chile   | 295         | 0           | 21          | #DIV/0!     |
+---+---------+-------------+-------------+-------------+-------------+
| 5 | Others  | 76          | 98          | 6           | -94%        |
+---+---------+-------------+-------------+-------------+-------------+
| S |         |             |             |             |             |
| o |         |             |             |             |             |
| u |         |             |             |             |             |
| r |         |             |             |             |             |
| c |         |             |             |             |             |
| e |         |             |             |             |             |
| o |         |             |             |             |             |
| f |         |             |             |             |             |
| D |         |             |             |             |             |
| a |         |             |             |             |             |
| t |         |             |             |             |             |
| a |         |             |             |             |             |
| : |         |             |             |             |             |
| J |         |             |             |             |             |
| a |         |             |             |             |             |
| p |         |             |             |             |             |
| a |         |             |             |             |             |
| n |         |             |             |             |             |
| C |         |             |             |             |             |
| u |         |             |             |             |             |
| s |         |             |             |             |             |
| t |         |             |             |             |             |
| o |         |             |             |             |             |
| m |         |             |             |             |             |
| s |         |             |             |             |             |
| ( |         |             |             |             |             |
| W |         |             |             |             |             |
| T |         |             |             |             |             |
| A |         |             |             |             |             |
| ) |         |             |             |             |             |
+---+---------+-------------+-------------+-------------+-------------+

Table 2-b. Japanese Sockeye Salmon Imports

+------+-----------------+---------------+--------------+------------+
| **03 |                 |               |              |            |
| 0311 |                 |               |              |            |
| SOC  |                 |               |              |            |
| KEYE |                 |               |              |            |
| SAL  |                 |               |              |            |
| MON, |                 |               |              |            |
| EXCL |                 |               |              |            |
| FIL  |                 |               |              |            |
| LET, |                 |               |              |            |
| LI   |                 |               |              |            |
| VERS |                 |               |              |            |
| &    |                 |               |              |            |
| R    |                 |               |              |            |
| OES, |                 |               |              |            |
| FR   |                 |               |              |            |
| OZEN |                 |               |              |            |
| I    |                 |               |              |            |
| MPOR |                 |               |              |            |
| TS** |                 |               |              |            |
|      |                 |               |              |            |
| **Qu |                 |               |              |            |
| anti |                 |               |              |            |
| ty** |                 |               |              |            |
|      |                 |               |              |            |
| *    |                 |               |              |            |
| *Jan |                 |               |              |            |
| uary |                 |               |              |            |
| --   |                 |               |              |            |
| De   |                 |               |              |            |
| cemb |                 |               |              |            |
| er** |                 |               |              |            |
+------+-----------------+---------------+--------------+------------+
|      |                 |               |              | \% Change  |
+------+-----------------+---------------+--------------+------------+
| Rank | Country         | \- MT -- 2002 | \- MT - 2003 | 03/02      |
+------+-----------------+---------------+--------------+------------+
| *    | **\--World\--** | **55,225**    | **47,546**   | **-14%**   |
| *0** |                 |               |              |            |
+------+-----------------+---------------+--------------+------------+
| *    | **United        | **26,366**    | **24,885**   | **-6%**    |
| *1** | States**        |               |              |            |
+------+-----------------+---------------+--------------+------------+
| 2    | Russia          | 24,562        | 20,892       | -15%       |
+------+-----------------+---------------+--------------+------------+
| 3    | Canada          | 3,921         | 1,644        | -58%       |
+------+-----------------+---------------+--------------+------------+
| 5    | Others          | 377           | 125          | -67%       |
+------+-----------------+---------------+--------------+------------+
| So   |                 |               |              |            |
| urce |                 |               |              |            |
| of   |                 |               |              |            |
| D    |                 |               |              |            |
| ata: |                 |               |              |            |
| J    |                 |               |              |            |
| apan |                 |               |              |            |
| Cus  |                 |               |              |            |
| toms |                 |               |              |            |
| (    |                 |               |              |            |
| WTA) |                 |               |              |            |
+------+-----------------+---------------+--------------+------------+

Table 3-a. Japanese Salmon and Trout Exports

+-----+---------+-------------+-------------+-------------+-----------+
| **  |         |             |             |             |           |
| Sal |         |             |             |             |           |
| mon |         |             |             |             |           |
| and |         |             |             |             |           |
| Tr  |         |             |             |             |           |
| out |         |             |             |             |           |
| Exp |         |             |             |             |           |
| ort |         |             |             |             |           |
| s** |         |             |             |             |           |
|     |         |             |             |             |           |
| **Q |         |             |             |             |           |
| uan |         |             |             |             |           |
| tit |         |             |             |             |           |
| y** |         |             |             |             |           |
|     |         |             |             |             |           |
| **  |         |             |             |             |           |
| Jan |         |             |             |             |           |
| uar |         |             |             |             |           |
| y - |         |             |             |             |           |
| Au  |         |             |             |             |           |
| gus |         |             |             |             |           |
| t** |         |             |             |             |           |
+-----+---------+-------------+-------------+-------------+-----------+
|     |         |             |             |             | \% Change |
+-----+---------+-------------+-------------+-------------+-----------+
| R   | Country | \- MT -     | \- MT -     | \- MT -     | 04/03     |
| ank |         | 2002        | 2003        | 2004        |           |
+-----+---------+-------------+-------------+-------------+-----------+
| **  | *       | **5,065**   | **10,476**  | **11,782**  | **12%**   |
| 0** | *\--Wor |             |             |             |           |
|     | ld\--** |             |             |             |           |
+-----+---------+-------------+-------------+-------------+-----------+
| **  | **      | **2,987**   | **8,487**   | **8,138**   | **-4%**   |
| 1** | China** |             |             |             |           |
+-----+---------+-------------+-------------+-------------+-----------+
| 2   | T       | 1,035       | 1,179       | 2,552       | 116%      |
|     | hailand |             |             |             |           |
+-----+---------+-------------+-------------+-------------+-----------+
| 3   | Others  | 1,044       | 810         | 1,092       | 35%       |
+-----+---------+-------------+-------------+-------------+-----------+
| Sou |         |             |             |             |           |
| rce |         |             |             |             |           |
| of  |         |             |             |             |           |
| Da  |         |             |             |             |           |
| ta: |         |             |             |             |           |
| Ja  |         |             |             |             |           |
| pan |         |             |             |             |           |
| C   |         |             |             |             |           |
| ust |         |             |             |             |           |
| oms |         |             |             |             |           |
| (W  |         |             |             |             |           |
| TA) |         |             |             |             |           |
+-----+---------+-------------+-------------+-------------+-----------+

Table 3-b. Japanese Salmon and Trout Exports

+----+-------------+------------+------------+------------+----------+
| ** |             |            |            |            |          |
| Sa |             |            |            |            |          |
| lm |             |            |            |            |          |
| on |             |            |            |            |          |
| a  |             |            |            |            |          |
| nd |             |            |            |            |          |
| T  |             |            |            |            |          |
| ro |             |            |            |            |          |
| ut |             |            |            |            |          |
| E  |             |            |            |            |          |
| xp |             |            |            |            |          |
| or |             |            |            |            |          |
| ts |             |            |            |            |          |
| ** |             |            |            |            |          |
|    |             |            |            |            |          |
| ** |             |            |            |            |          |
| Qu |             |            |            |            |          |
| an |             |            |            |            |          |
| ti |             |            |            |            |          |
| ty |             |            |            |            |          |
| ** |             |            |            |            |          |
|    |             |            |            |            |          |
| *  |             |            |            |            |          |
| *J |             |            |            |            |          |
| an |             |            |            |            |          |
| ua |             |            |            |            |          |
| ry |             |            |            |            |          |
|  - |             |            |            |            |          |
| De |             |            |            |            |          |
| ce |             |            |            |            |          |
| mb |             |            |            |            |          |
| er |             |            |            |            |          |
| ** |             |            |            |            |          |
+----+-------------+------------+------------+------------+----------+
|    |             |            |            |            | \%       |
|    |             |            |            |            | Change   |
+----+-------------+------------+------------+------------+----------+
| Ra | Country     | \- MT -    | \- MT -    | \- MT -    | 03/02    |
| nk |             | 2001       | 2002       | 2003       |          |
+----+-------------+------------+------------+------------+----------+
| *  | **\-        | **29,366** | **34,108** | **63,899** | **87%**  |
| *0 | -World\--** |            |            |            |          |
| ** |             |            |            |            |          |
+----+-------------+------------+------------+------------+----------+
| *  | **China**   | **23,428** | **23,904** | **52,685** | **120%** |
| *1 |             |            |            |            |          |
| ** |             |            |            |            |          |
+----+-------------+------------+------------+------------+----------+
| 2  | Thailand    | 1,405      | 3,865      | 4,602      | 19%      |
+----+-------------+------------+------------+------------+----------+
| 3  | Taiwan      | 1,156      | 3,480      | 3,563      | 2%       |
+----+-------------+------------+------------+------------+----------+
| 4  | Korea,      | 492        | 814        | 1,763      | 116%     |
|    | South       |            |            |            |          |
+----+-------------+------------+------------+------------+----------+
| 5  | Others      | 2,885      | 2,044      | 1,286      | -37%     |
+----+-------------+------------+------------+------------+----------+
| So |             |            |            |            |          |
| ur |             |            |            |            |          |
| ce |             |            |            |            |          |
| of |             |            |            |            |          |
| D  |             |            |            |            |          |
| at |             |            |            |            |          |
| a: |             |            |            |            |          |
| J  |             |            |            |            |          |
| ap |             |            |            |            |          |
| an |             |            |            |            |          |
| C  |             |            |            |            |          |
| us |             |            |            |            |          |
| to |             |            |            |            |          |
| ms |             |            |            |            |          |
| (  |             |            |            |            |          |
| WT |             |            |            |            |          |
| A) |             |            |            |            |          |
+----+-------------+------------+------------+------------+----------+

# Salmon and Trout Roe (Sujiko) and Eggs (Ikura) Section

## 2005 Market Outlook Summary

The popularity of ikura (prepared eggs) is expected to sustain solid
sales in 2005, particularly for products marinated in soy sauce. On the
other hand, demand for hard roe and brined egg products are expected to
contract as a result of a shift in consumer preferences, which will
cause total demand (ikura and hard roe combined) to drop slightly in
2005. Adding to this, reportedly strong international demand for hard
roe and egg products is expected to result in higher export prices,
further dampening demand for imports.

## 2004 Market Situation and Update

### Demand for Ikura (Prepared Egg) to Remain Solid in 2004

Based on the 2004 projected ocean catch for salmon and trout, domestic
production of ikura (prepared ikura) and sujiko (hard roe) together is
forecast to drop 6% to 6,750 MT in 2004 (270,000 MT multiplied by
0.5%/2). In recent years, soy sauce marinated ikura has become popular
among consumers in Japan, particularly among the younger generation,
causing prepared egg consumption in Japan to shift from brined ikura to
products marinated in soy sauce. Domestic production is expected to
shift toward high-priced eggs (ikura) in 2004, in stark contrast to weak
demand and low prices for roe (sujiko). Strong retail and food service
demand for eggs has caused wholesale domestic prices to strengthen,
averaging 3,300-3,500 yen per kilogram, while roe prices have reportedly
weakened, averaging about 20% lower than last year at 2,600--2,800 yen
per kilogram.

### Modest Increase in Imports Forecast Catering Toward Growing Ikura Market 

Higher market prices for eggs combined with a projected drop in domestic
production in 2004, is driving up imports (hard roe and eggs combined),
with the annual total projected 4% higher at 9,200 MT. For January --
August, egg imports shot up 34%, with an 18% increase from the United
States, and China doubling their shipments to Japan (See Tables 5-a and
5-b). This has more than offset a 4% decline in roe (sujiko) imports
during the same period (See Tables 4-a and 4-b). The U.S. share of
combined roe and egg imports in 2004 is estimated at about 75%.

Table 4-a. Japanese Sujiko (Hard Roe) Imports

+----+--------------+------------+------------+------------+---------+
| ** |              |            |            |            |         |
| Su |              |            |            |            |         |
| ji |              |            |            |            |         |
| ko |              |            |            |            |         |
| (  |              |            |            |            |         |
| Ha |              |            |            |            |         |
| rd |              |            |            |            |         |
| Ro |              |            |            |            |         |
| e) |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| ** |              |            |            |            |         |
| Qu |              |            |            |            |         |
| an |              |            |            |            |         |
| ti |              |            |            |            |         |
| ty |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| *  |              |            |            |            |         |
| *J |              |            |            |            |         |
| an |              |            |            |            |         |
| ua |              |            |            |            |         |
| ry |              |            |            |            |         |
|  - |              |            |            |            |         |
| Au |              |            |            |            |         |
| gu |              |            |            |            |         |
| st |              |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
|    |              |            |            |            | \%      |
|    |              |            |            |            | Change  |
+----+--------------+------------+------------+------------+---------+
| Ra | Country      | \- MT --   | \- MT -    | \- MT -    | 04/03   |
| nk |              | 2002       | 2003       | 2004       |         |
+----+--------------+------------+------------+------------+---------+
| *  | **\          | **2,637**  | **2,733**  | **2,626**  | **-4%** |
| *0 | --World\--** |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| *  | **United     | **1,474**  | **1,939**  | **1,884**  | **-3%** |
| *1 | States**     |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| 2  | Denmark      | 607        | 554        | 612        | 10%     |
+----+--------------+------------+------------+------------+---------+
| 3  | Finland      | 407        | 167        | 68         | -60%    |
+----+--------------+------------+------------+------------+---------+
| 4  | Chile        | 66         | 18         | 21         | 15%     |
+----+--------------+------------+------------+------------+---------+
| 5  | Norway       | 49         | 36         | 20         | -46%    |
+----+--------------+------------+------------+------------+---------+
| 6  | Canada       | 25         | 12         | 13         | 4%      |
+----+--------------+------------+------------+------------+---------+
| 7  | Australia    | 7          | 6          | 5          | -12%    |
+----+--------------+------------+------------+------------+---------+
| 8  | Russia       | 2          | 0          | 3          | #DIV/0! |
+----+--------------+------------+------------+------------+---------+
| 7  | Others       | 0          | 0          | 0          | #DIV/0! |
+----+--------------+------------+------------+------------+---------+
| So |              |            |            |            |         |
| ur |              |            |            |            |         |
| ce |              |            |            |            |         |
| of |              |            |            |            |         |
| D  |              |            |            |            |         |
| at |              |            |            |            |         |
| a: |              |            |            |            |         |
| J  |              |            |            |            |         |
| ap |              |            |            |            |         |
| an |              |            |            |            |         |
| C  |              |            |            |            |         |
| us |              |            |            |            |         |
| to |              |            |            |            |         |
| ms |              |            |            |            |         |
| (  |              |            |            |            |         |
| WT |              |            |            |            |         |
| A) |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+

HS 0305200303

Table 4-b. Japanese Sujiko Imports

+----+--------------+------------+------------+------------+---------+
| ** |              |            |            |            |         |
| Su |              |            |            |            |         |
| ji |              |            |            |            |         |
| ko |              |            |            |            |         |
| (  |              |            |            |            |         |
| Ha |              |            |            |            |         |
| rd |              |            |            |            |         |
| Ro |              |            |            |            |         |
| e) |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| ** |              |            |            |            |         |
| Qu |              |            |            |            |         |
| an |              |            |            |            |         |
| ti |              |            |            |            |         |
| ty |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| *  |              |            |            |            |         |
| *J |              |            |            |            |         |
| an |              |            |            |            |         |
| ua |              |            |            |            |         |
| ry |              |            |            |            |         |
|  - |              |            |            |            |         |
| De |              |            |            |            |         |
| ce |              |            |            |            |         |
| mb |              |            |            |            |         |
| er |              |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
|    |              |            |            |            | \%      |
|    |              |            |            |            | Change  |
+----+--------------+------------+------------+------------+---------+
| Ra | Country      | \- MT --   | \- MT -    | \- MT -    | 03/02   |
| nk |              | 2001       | 2002       | 2003       |         |
+----+--------------+------------+------------+------------+---------+
| *  | **\          | **4,410**  | **4,628**  | **4,632**  | **0%**  |
| *0 | --World\--** |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| *  | **United     | **3,104**  | **3,126**  | **3,456**  | **11%** |
| *1 | States**     |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| 2  | Denmark      | 665        | 675        | 729        | 8%      |
+----+--------------+------------+------------+------------+---------+
| 3  | Finland      | 312        | 436        | 177        | -59%    |
+----+--------------+------------+------------+------------+---------+
| 4  | Canada       | 150        | 161        | 135        | -16%    |
+----+--------------+------------+------------+------------+---------+
| 5  | Russia       | 98         | 104        | 68         | -34%    |
+----+--------------+------------+------------+------------+---------+
| 6  | Norway       | 3          | 52         | 43         | -18%    |
+----+--------------+------------+------------+------------+---------+
| 7  | Chile        | 78         | 68         | 18         | -73%    |
+----+--------------+------------+------------+------------+---------+
| 8  | Others       | 0          | 7          | 6          | -17%    |
+----+--------------+------------+------------+------------+---------+
| So |              |            |            |            |         |
| ur |              |            |            |            |         |
| ce |              |            |            |            |         |
| of |              |            |            |            |         |
| D  |              |            |            |            |         |
| at |              |            |            |            |         |
| a: |              |            |            |            |         |
| J  |              |            |            |            |         |
| ap |              |            |            |            |         |
| an |              |            |            |            |         |
| C  |              |            |            |            |         |
| us |              |            |            |            |         |
| to |              |            |            |            |         |
| ms |              |            |            |            |         |
| (  |              |            |            |            |         |
| WT |              |            |            |            |         |
| A) |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+

HS 0305200303

Table 5-a. Japanese Imports of Ikura

+----+--------------+------------+------------+------------+---------+
| *  |              |            |            |            |         |
| *I |              |            |            |            |         |
| ku |              |            |            |            |         |
| ra |              |            |            |            |         |
| (  |              |            |            |            |         |
| Pr |              |            |            |            |         |
| ep |              |            |            |            |         |
| ar |              |            |            |            |         |
| ed |              |            |            |            |         |
| Eg |              |            |            |            |         |
| g) |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| ** |              |            |            |            |         |
| Qu |              |            |            |            |         |
| an |              |            |            |            |         |
| ti |              |            |            |            |         |
| ty |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| *  |              |            |            |            |         |
| *J |              |            |            |            |         |
| an |              |            |            |            |         |
| ua |              |            |            |            |         |
| ry |              |            |            |            |         |
|  - |              |            |            |            |         |
| Au |              |            |            |            |         |
| gu |              |            |            |            |         |
| st |              |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
|    |              |            |            |            | \%      |
|    |              |            |            |            | Change  |
+----+--------------+------------+------------+------------+---------+
| Ra | Country      | \- MT -    | \- MT -    | \- MT -    | 04/03   |
| nk |              | 2002       | 2003       | 2004       |         |
+----+--------------+------------+------------+------------+---------+
| *  | **\          | **1,754**  | **1,234**  | **1,649**  | **34%** |
| *0 | --World\--** |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| *  | **United     | **1,349**  | **880**    | **1,040**  | **18%** |
| *1 | States**     |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| 2  | China        | 121        | 197        | 409        | 108%    |
+----+--------------+------------+------------+------------+---------+
| 3  | Canada       | 107        | 112        | 179        | 60%     |
+----+--------------+------------+------------+------------+---------+
| 4  | Russia       | 162        | 39         | 12         | -68%    |
+----+--------------+------------+------------+------------+---------+
| 5  | Chile        | 3          | 3          | 5          | 69%     |
+----+--------------+------------+------------+------------+---------+
| 6  | Others       | 13         | 3          | 3          | -23%    |
+----+--------------+------------+------------+------------+---------+
| So |              |            |            |            |         |
| ur |              |            |            |            |         |
| ce |              |            |            |            |         |
| of |              |            |            |            |         |
| D  |              |            |            |            |         |
| at |              |            |            |            |         |
| a: |              |            |            |            |         |
| J  |              |            |            |            |         |
| ap |              |            |            |            |         |
| an |              |            |            |            |         |
| C  |              |            |            |            |         |
| us |              |            |            |            |         |
| to |              |            |            |            |         |
| ms |              |            |            |            |         |
| (  |              |            |            |            |         |
| WT |              |            |            |            |         |
| A) |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+

HS 160430010

Table 5-b. Japanese Ikura Imports

+----+--------------+------------+------------+------------+---------+
| *  |              |            |            |            |         |
| *I |              |            |            |            |         |
| ku |              |            |            |            |         |
| ra |              |            |            |            |         |
| (  |              |            |            |            |         |
| Pr |              |            |            |            |         |
| ep |              |            |            |            |         |
| ar |              |            |            |            |         |
| ed |              |            |            |            |         |
| Eg |              |            |            |            |         |
| g) |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| ** |              |            |            |            |         |
| Qu |              |            |            |            |         |
| an |              |            |            |            |         |
| ti |              |            |            |            |         |
| ty |              |            |            |            |         |
| ** |              |            |            |            |         |
|    |              |            |            |            |         |
| *  |              |            |            |            |         |
| *J |              |            |            |            |         |
| an |              |            |            |            |         |
| ua |              |            |            |            |         |
| ry |              |            |            |            |         |
|  - |              |            |            |            |         |
| De |              |            |            |            |         |
| ce |              |            |            |            |         |
| mb |              |            |            |            |         |
| er |              |            |            |            |         |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
|    |              |            |            |            | \%      |
|    |              |            |            |            | Change  |
+----+--------------+------------+------------+------------+---------+
| Ra | Country      | \- MT -    | \- MT -    | \- MT -    | 03/02   |
| nk |              | 2001       | 2002       | 2003       |         |
+----+--------------+------------+------------+------------+---------+
| *  | **\          | **3,994**  | **5,132**  | **4,224**  | *       |
| *0 | --World\--** |            |            |            | *-18%** |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| *  | **United     | **3,280**  | **4,003**  | **3,386**  | *       |
| *1 | States**     |            |            |            | *-15%** |
| ** |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+
| 2  | Canada       | 325        | 637        | 417        | -35%    |
+----+--------------+------------+------------+------------+---------+
| 3  | China        | 124        | 251        | 370        | 48%     |
+----+--------------+------------+------------+------------+---------+
| 4  | Russia       | 194        | 223        | 39         | -83%    |
+----+--------------+------------+------------+------------+---------+
| 5  | Finland      | 21         | 13         | 5          | -58%    |
+----+--------------+------------+------------+------------+---------+
| 6  | Chile        | 46         | 3          | 3          | 9%      |
+----+--------------+------------+------------+------------+---------+
| 7  | Others       | 5          | 2          | 3          | 40%     |
+----+--------------+------------+------------+------------+---------+
| So |              |            |            |            |         |
| ur |              |            |            |            |         |
| ce |              |            |            |            |         |
| of |              |            |            |            |         |
| D  |              |            |            |            |         |
| at |              |            |            |            |         |
| a: |              |            |            |            |         |
| J  |              |            |            |            |         |
| ap |              |            |            |            |         |
| an |              |            |            |            |         |
| C  |              |            |            |            |         |
| us |              |            |            |            |         |
| to |              |            |            |            |         |
| ms |              |            |            |            |         |
| (  |              |            |            |            |         |
| WT |              |            |            |            |         |
| A) |              |            |            |            |         |
+----+--------------+------------+------------+------------+---------+

HS 160430010

# Surimi Section

## 2005 Market Outlook Summary

Japan's surimi product production has been relatively stable although
the continued economic slump has resulted in a shift in demand to medium
and lower grade surimi from pollock and non-Pollock species in recent
years. Food service and prepared food demand for variety low-cost side
dishes using surimi-based products, will continue to support this trend
in 2005, while demand for high-priced fish cake products, which use high
grade Pollock surimi, will likely remain weak. It is unclear whether
exportable supplies of non-Pollock surimi (Itoyori) from Asian countries
will recover from a drop in 2004.

## 2004 Market Situation and Update

### Demand for Surimi Based Products Strengthened in 2004 

Japan's market for surimi, the main ingredient for fish cake and paste
products, has improved. Ingredient demand for surimi is expected to
increase by 6% to 395,000 MT in 2004 due to strong demand for
surimi-based products in the food service and prepared food sectors. As
a result, low surimi prices that prevailed in 2003 appear to have
reached bottom in 2004. Japan's ban on imported broiler meat from
Thailand and China (due to Avian Influenza) may have also helped to
generate strong demand for surimi-based products early in 2004.

### Modest Increase in Surimi Imports Forecast in 2004

Surimi imports are expected to increase in 2004, projected up by 10% to
295,000 MT, reflecting increased availability of U.S. low and medium
grade Pollock surimi from A-season production, and increased imports of
non-Pollock surimi (blue whiting) from Argentina, which more than offset
reduced imports from Asian non-Pollock (Itoyori) surimi suppliers. For
January -- August, surimi imports were up 22%, with increases from the
United States (up 59%) and Argentina (up 101%), more than offsetting
decreases from Thailand (down 8%), India (down 17%), and Indonesia (down
37%) (See Tables 6-a and 6-b). High prices for U.S. surimi (A-season
product) have reportedly been induced by a large purchase of Pollock
fillets by a Japanese fast food chain during the first half of the year
when the price of FA grade Alaskan pollock surimi offered to Japan was
reportedly up by 6% to 240 -- 245 yen per kilogram.

Despite lower U.S. surimi production and higher prices in the A-season,
sales to Japan were reportedly stable during the first half of 2004,
supported by solid demand and reduced production by other non-Pollock
surimi suppliers. Thailand, India, and Indonesia are reportedly having
difficulty in boosting production due to lower raw material fish catches
and strong domestic demand.

The relatively short supply of Asian non-pollock surimi and strong
domestic demand for surimi-based products (fish balls and pastes) in
Thailand and Indonesia, will likely curb Japan's imports of non-Pollock
surimi in 2004. Furthermore, B-season U.S. pollock utilization patterns
are reportedly expected to be similar to those of the A-season, but
surimi production may likely slow as processing operations on fishing
vessels reportedly shift production to fillets and round fish in
response to high international demand for white meat fish species.
Japanese buyers are reportedly making continued purchases of Alaskan
medium and lower grade surimi despite high prices, in preparation for
winter peak season demand. \[Note: In 2004, the U.S. Pollock fishing
quota (BASI and BOA combined) was increased to 1,564,310 MT from
1,546,110 MT. A-season operation is said to have consumed about 40% of
the quota with more fillets and round fish production. Surimi production
was over 73,000 MT, down 15% from last year.\] Solid import growth
achieved through August may slow down for the remainder of the year.

Japan's annual domestic surimi production is forecast to increase
modestly in 2004, projected up 4% for domestic surimi to 105,000 MT,
reportedly due to an abundant Atka mackerel catch this year, rather than
pollock.

Table 6-a. Japanese Surimi Imports

+----+---------------+-----------+-----------+-----------+-----------+
| ** |               |           |           |           |           |
| Su |               |           |           |           |           |
| ri |               |           |           |           |           |
| mi |               |           |           |           |           |
| ** |               |           |           |           |           |
|    |               |           |           |           |           |
| ** |               |           |           |           |           |
| Qu |               |           |           |           |           |
| an |               |           |           |           |           |
| ti |               |           |           |           |           |
| ty |               |           |           |           |           |
| ** |               |           |           |           |           |
|    |               |           |           |           |           |
| *  |               |           |           |           |           |
| *J |               |           |           |           |           |
| an |               |           |           |           |           |
| ua |               |           |           |           |           |
| ry |               |           |           |           |           |
| -- |               |           |           |           |           |
| Au |               |           |           |           |           |
| gu |               |           |           |           |           |
| st |               |           |           |           |           |
| ** |               |           |           |           |           |
+----+---------------+-----------+-----------+-----------+-----------+
|    |               |           |           |           | \% Change |
+----+---------------+-----------+-----------+-----------+-----------+
| Ra | Country       | \- MT --  | \- MT -   | \- MT -   | 04/03     |
| nk |               | 2002      | 2003      | 2004      |           |
+----+---------------+-----------+-----------+-----------+-----------+
| *  | **            | **        | **        | **        | **22%**   |
| *0 | \--World\--** | 184,441** | 155,341** | 189,063** |           |
| ** |               |           |           |           |           |
+----+---------------+-----------+-----------+-----------+-----------+
| *  | **United      | *         | *         | *         | **59%**   |
| *1 | States**      | *68,252** | *50,022** | *79,581** |           |
| ** |               |           |           |           |           |
+----+---------------+-----------+-----------+-----------+-----------+
| 2  | Thailand      | 64,101    | 60,666    | 55,682    | -8%       |
+----+---------------+-----------+-----------+-----------+-----------+
| 3  | Argentina     | 11,540    | 7,046     | 14,135    | 101%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 4  | China         | 9,710     | 9,915     | 11,708    | 18%       |
+----+---------------+-----------+-----------+-----------+-----------+
| 5  | India         | 12,833    | 13,301    | 11,014    | -17%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 6  | Chile         | 5,866     | 4,025     | 4,303     | 7%        |
+----+---------------+-----------+-----------+-----------+-----------+
| 7  | Vietnam       | 1,800     | 2,629     | 2,312     | -12%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 8  | Denmark       | 2,264     | 856       | 2,250     | 163%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 9  | Peru          | 1,436     | 782       | 1,637     | 109%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 10 | Indonesia     | 2,234     | 1,590     | 1,004     | -37%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 11 | Myanmar       | 359       | 394       | 954       | 142%      |
+----+---------------+-----------+-----------+-----------+-----------+
| 12 | Others        | 4,046     | 4,114     | 4,484     | 9%        |
+----+---------------+-----------+-----------+-----------+-----------+
| So |               |           |           |           |           |
| ur |               |           |           |           |           |
| ce |               |           |           |           |           |
| of |               |           |           |           |           |
| D  |               |           |           |           |           |
| at |               |           |           |           |           |
| a: |               |           |           |           |           |
| J  |               |           |           |           |           |
| ap |               |           |           |           |           |
| an |               |           |           |           |           |
| C  |               |           |           |           |           |
| us |               |           |           |           |           |
| to |               |           |           |           |           |
| ms |               |           |           |           |           |
| (  |               |           |           |           |           |
| WT |               |           |           |           |           |
| A) |               |           |           |           |           |
+----+---------------+-----------+-----------+-----------+-----------+

HS 03049012, 03049012, 03049014, 030490020, (030490093), 030490095,
030490099

Table 6-b. Japanese Surimi Imports

+------+--------------+-----------+-----------+-----------+-----------+
| **   |              |           |           |           |           |
| Suri |              |           |           |           |           |
| mi** |              |           |           |           |           |
|      |              |           |           |           |           |
| **Qu |              |           |           |           |           |
| anti |              |           |           |           |           |
| ty** |              |           |           |           |           |
|      |              |           |           |           |           |
| *    |              |           |           |           |           |
| *Jan |              |           |           |           |           |
| uary |              |           |           |           |           |
| --   |              |           |           |           |           |
| De   |              |           |           |           |           |
| cemb |              |           |           |           |           |
| er** |              |           |           |           |           |
+------+--------------+-----------+-----------+-----------+-----------+
|      |              |           |           |           | \% Change |
+------+--------------+-----------+-----------+-----------+-----------+
| Rank | Country      | \- MT --  | \- MT -   | \- MT -   | 03/02     |
|      |              | 2001      | 2002      | 2003      |           |
+------+--------------+-----------+-----------+-----------+-----------+
| *    | **\          | **        | **        | **        | **-13%**  |
| *0** | --World\--** | 312,763** | 310,803** | 269,174** |           |
+------+--------------+-----------+-----------+-----------+-----------+
| *    | **United     | **        | **        | **        | **-23%**  |
| *1** | States**     | 144,744** | 133,976** | 103,266** |           |
+------+--------------+-----------+-----------+-----------+-----------+
| 2    | Thailand     | 86,342    | 100,689   | 95,622    | -5%       |
+------+--------------+-----------+-----------+-----------+-----------+
| 3    | India        | 16,467    | 17,498    | 17,500    | 0%        |
+------+--------------+-----------+-----------+-----------+-----------+
| 4    | China        | 13,072    | 15,083    | 15,945    | 6%        |
+------+--------------+-----------+-----------+-----------+-----------+
| 5    | Argentina    | 16,672    | 13,392    | 10,593    | -21%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 6    | Chile        | 11,523    | 10,312    | 9,312     | -10%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 7    | Vietnam      | 2,290     | 2,877     | 3,974     | 38%       |
+------+--------------+-----------+-----------+-----------+-----------+
| 8    | Indonesia    | 3,313     | 4,513     | 2,512     | -44%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 9    | Russia       | 4,703     | 265       | 1,705     | 544%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 10   | Korea, South | 2,449     | 1,743     | 1,595     | -9%       |
+------+--------------+-----------+-----------+-----------+-----------+
| 11   | Peru         | 1,931     | 2,527     | 1,388     | -45%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 12   | Denmark      | 2,809     | 2,658     | 1,278     | -52%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 13   | Malaysia     | 1         | 415       | 1,156     | 179%      |
+------+--------------+-----------+-----------+-----------+-----------+
| 14   | Myanmar      | 668       | 558       | 694       | 24%       |
+------+--------------+-----------+-----------+-----------+-----------+
| 15   | Others       | 5,779     | 4,299     | 2,635     | -39%      |
+------+--------------+-----------+-----------+-----------+-----------+
| So   |              |           |           |           |           |
| urce |              |           |           |           |           |
| of   |              |           |           |           |           |
| D    |              |           |           |           |           |
| ata: |              |           |           |           |           |
| J    |              |           |           |           |           |
| apan |              |           |           |           |           |
| Cus  |              |           |           |           |           |
| toms |              |           |           |           |           |
| (    |              |           |           |           |           |
| WTA) |              |           |           |           |           |
+------+--------------+-----------+-----------+-----------+-----------+

HS 03049012, 03049012, 03049014, 030490020, (030490093), 030490095,
030490099

# Pollock/Cod Roe Section (Tarako) 

## 2005 Market Outlook Summary

Japanese consumption of tarako (pollock and cod roe) over the past
several years has been stable at 53,000 -- 54,000 MT, which will likely
continue in 2005 as import demand shifts to low-priced products. Pollock
roe from Alaska and Russia that is processed in China for the Japanese
market could slow direct purchases.

## 2004 Market Situation and Update

### Trade Anticipates Consumption to Pick-up

Consumption of tarako (pollock and cod roe) is expected to drop modestly
in 2004, projected down by 2% from last year to 53,000 MT, due to
lethargic household consumption during the summer. For January -- July,
household consumption fell by 6% while corresponding expenditures
dropped by 3%, compared to 2003. Retail sales for non-colored and
off-grade low-priced products have been solid, while sales for
high-value quality products have slumped. Wholesalers are reportedly
buying and building stocks of imported roe in anticipation of recovery
in consumption around the end of the year. December is normally a peak
sales month for tarako.

### Imports of Alaskan and Russian Roe to Grow in 2004 Despite High Prices

Total roe imports are expected to rise by about 3% in 2004 to 48,000 MT
(cod and Pollock combined). For January - August, imports were up 8% to
40,656 MT, due primarily to a 22% increase in imports from Russia (See
Tables 7-a and 7-b). Imports from Alaska were up by about 4%, reflecting
increased production. Alaskan roe from the B-season catch is expected to
further increase U.S. sales to Japan in 2004. Imports from China, which
have been trending up in recent years, increased by 12% (processed for
re-export with Alaskan and Russian roe). Domestic production is
projected to remain unchanged from last year at around 7,000 MT.

Table 7-a. Japanese Tarako Imports

+----+---------------+-----------+------------+------------+----------+
| *  |               |           |            |            |          |
| *C |               |           |            |            |          |
| od |               |           |            |            |          |
| a  |               |           |            |            |          |
| nd |               |           |            |            |          |
| P  |               |           |            |            |          |
| ol |               |           |            |            |          |
| lo |               |           |            |            |          |
| ck |               |           |            |            |          |
| Ro |               |           |            |            |          |
| es |               |           |            |            |          |
| ** |               |           |            |            |          |
|    |               |           |            |            |          |
| ** |               |           |            |            |          |
| Qu |               |           |            |            |          |
| an |               |           |            |            |          |
| ti |               |           |            |            |          |
| ty |               |           |            |            |          |
| ** |               |           |            |            |          |
|    |               |           |            |            |          |
| *  |               |           |            |            |          |
| *J |               |           |            |            |          |
| an |               |           |            |            |          |
| ua |               |           |            |            |          |
| ry |               |           |            |            |          |
| -- |               |           |            |            |          |
| Au |               |           |            |            |          |
| gu |               |           |            |            |          |
| st |               |           |            |            |          |
| ** |               |           |            |            |          |
+----+---------------+-----------+------------+------------+----------+
|    |               |           |            |            | \%       |
|    |               |           |            |            | Change   |
+----+---------------+-----------+------------+------------+----------+
| Ra | Country       | \- MT-    | \- MT -    | \- MT -    | 04/03    |
| nk |               | 2002      | 2003       | 2004       |          |
+----+---------------+-----------+------------+------------+----------+
| *  | **            | *         | **37,570** | **40,656** | **8%**   |
| *0 | \--World\--** | *36,154** |            |            |          |
| ** |               |           |            |            |          |
+----+---------------+-----------+------------+------------+----------+
| *  | **United      | *         | **20,105** | **20,910** | **4%**   |
| *1 | States**      | *21,861** |            |            |          |
| ** |               |           |            |            |          |
+----+---------------+-----------+------------+------------+----------+
| 2  | Russia        | 6,878     | 10,130     | 12,346     | 22%      |
+----+---------------+-----------+------------+------------+----------+
| 3  | China         | 4,045     | 4,082      | 4,584      | 12%      |
+----+---------------+-----------+------------+------------+----------+
| 4  | Korea, South  | 2,615     | 2,743      | 2,320      | -15%     |
+----+---------------+-----------+------------+------------+----------+
| 5  | Iceland       | 140       | 275        | 259        | -6%      |
+----+---------------+-----------+------------+------------+----------+
| 6  | Others        | 613       | 236        | 237        | 1%       |
+----+---------------+-----------+------------+------------+----------+
| So |               |           |            |            |          |
| ur |               |           |            |            |          |
| ce |               |           |            |            |          |
| of |               |           |            |            |          |
| D  |               |           |            |            |          |
| at |               |           |            |            |          |
| a: |               |           |            |            |          |
| J  |               |           |            |            |          |
| ap |               |           |            |            |          |
| an |               |           |            |            |          |
| C  |               |           |            |            |          |
| us |               |           |            |            |          |
| to |               |           |            |            |          |
| ms |               |           |            |            |          |
| (  |               |           |            |            |          |
| WT |               |           |            |            |          |
| A) |               |           |            |            |          |
+----+---------------+-----------+------------+------------+----------+

HS 030270020, 030280020, 030520020, 160420014, and 160420013

Table 7-b. Japanese Tarako Imports

+----+-------------+-------------+-------------+-------------+---------+
| *  |             |             |             |             |         |
| *C |             |             |             |             |         |
| od |             |             |             |             |         |
| a  |             |             |             |             |         |
| nd |             |             |             |             |         |
| P  |             |             |             |             |         |
| ol |             |             |             |             |         |
| lo |             |             |             |             |         |
| ck |             |             |             |             |         |
| Ro |             |             |             |             |         |
| es |             |             |             |             |         |
| ** |             |             |             |             |         |
|    |             |             |             |             |         |
| ** |             |             |             |             |         |
| Qu |             |             |             |             |         |
| an |             |             |             |             |         |
| ti |             |             |             |             |         |
| ty |             |             |             |             |         |
| ** |             |             |             |             |         |
|    |             |             |             |             |         |
| *  |             |             |             |             |         |
| *J |             |             |             |             |         |
| an |             |             |             |             |         |
| ua |             |             |             |             |         |
| ry |             |             |             |             |         |
|  - |             |             |             |             |         |
| De |             |             |             |             |         |
| ce |             |             |             |             |         |
| mb |             |             |             |             |         |
| er |             |             |             |             |         |
| ** |             |             |             |             |         |
+----+-------------+-------------+-------------+-------------+---------+
|    |             |             |             |             | \%      |
|    |             |             |             |             | Change  |
+----+-------------+-------------+-------------+-------------+---------+
| Ra | Country     | \- MT -     | \- MT -     | \- MT -     | 03/02   |
| nk |             | 2001        | 2002        | 2003        |         |
+----+-------------+-------------+-------------+-------------+---------+
| *  | **\-        | **49,716**  | **44,205**  | **46,911**  | **6%**  |
| *0 | -World\--** |             |             |             |         |
| ** |             |             |             |             |         |
+----+-------------+-------------+-------------+-------------+---------+
| *  | **United    | **23,388**  | **24,544**  | **23,815**  | **-3%** |
| *1 | States**    |             |             |             |         |
| ** |             |             |             |             |         |
+----+-------------+-------------+-------------+-------------+---------+
| 2  | Russia      | 14,285      | 8,262       | 11,845      | 43%     |
+----+-------------+-------------+-------------+-------------+---------+
| 3  | China       | 5,334       | 6,252       | 6,599       | 6%      |
+----+-------------+-------------+-------------+-------------+---------+
| 4  | Korea,      | 4,131       | 4,178       | 3,854       | -8%     |
|    | South       |             |             |             |         |
+----+-------------+-------------+-------------+-------------+---------+
| 5  | Iceland     | 885         | 140         | 334         | 139%    |
+----+-------------+-------------+-------------+-------------+---------+
| 6  | Others      | 1,693       | 830         | 464         | -44%    |
+----+-------------+-------------+-------------+-------------+---------+
| So |             |             |             |             |         |
| ur |             |             |             |             |         |
| ce |             |             |             |             |         |
| of |             |             |             |             |         |
| D  |             |             |             |             |         |
| at |             |             |             |             |         |
| a: |             |             |             |             |         |
| J  |             |             |             |             |         |
| ap |             |             |             |             |         |
| an |             |             |             |             |         |
| C  |             |             |             |             |         |
| us |             |             |             |             |         |
| to |             |             |             |             |         |
| ms |             |             |             |             |         |
| (  |             |             |             |             |         |
| WT |             |             |             |             |         |
| A) |             |             |             |             |         |
+----+-------------+-------------+-------------+-------------+---------+

HS 030270020, 030280020, 030520020, 160420014, and 160420013

# Salmon and Trout PS&D Table

+------------------+------+------+------+------+------+------+------+
| Japan            |      |      |      |      |      |      |      |
|                  |      |      |      |      |      |      |      |
| ###### Salmon, W |      |      |      |      |      |      |      |
| hole/Eviscerated |      |      |      |      |      |      |      |
+------------------+------+------+------+------+------+------+------+
|                  | 2003 | Rev  | 2004 | Esti | 2005 | Fore | UOM  |
|                  |      | ised |      | mate |      | cast |      |
+------------------+------+------+------+------+------+------+------+
|                  | USDA | Post | USDA | Post | USDA | Post |      |
|                  | Offi | Esti | Offi | Esti | Offi | Esti |      |
|                  | cial | mate | cial | mate | cial | mate |      |
|                  | \[O  | \[N  | \[O  | \[N  | \[O  | \[N  |      |
|                  | ld\] | ew\] | ld\] | ew\] | ld\] | ew\] |      |
+------------------+------+------+------+------+------+------+------+
| Market Year      |      | 01/  |      | 01/  |      | 01/  | MM/  |
| Begin            |      | 2003 |      | 2004 |      | 2005 | YYYY |
+------------------+------+------+------+------+------+------+------+
| Beginning Stocks | 13   | 13   | 12   | 10   | 11   | 9    | (MT) |
|                  | 1000 | 1000 | 6000 | 9000 | 6000 | 9000 |      |
+------------------+------+------+------+------+------+------+------+
| Total Production | 27   | 31   | 25   | 29   | 0    | 27   | (MT) |
|                  | 0000 | 1000 | 5000 | 0000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| Intra-EC Imports | 0    | 0    | 0    | 0    | 0    | 0    | (MT) |
+------------------+------+------+------+------+------+------+------+
| Other Imports    | 22   | 21   | 22   | 23   | 0    | 24   | (MT) |
|                  | 5000 | 6000 | 0000 | 0000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| TOTAL Imports    | 22   | 21   | 22   | 23   | 0    | 24   | (MT) |
|                  | 5000 | 6000 | 0000 | 0000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| TOTAL SUPPLY     | 62   | 65   | 60   | 62   | 11   | 60   | (MT) |
|                  | 6000 | 8000 | 1000 | 9000 | 6000 | 9000 |      |
+------------------+------+------+------+------+------+------+------+
| Intra-EC Exports | 0    | 0    | 0    | 0    | 0    | 0    | (MT) |
+------------------+------+------+------+------+------+------+------+
| Other Exports    | 4    | 6    | 4    | 5    | 0    | 4    | (MT) |
|                  | 5000 | 4000 | 0000 | 5000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| TOTAL Exports    | 4    | 6    | 4    | 5    | 0    | 4    | (MT) |
|                  | 5000 | 4000 | 0000 | 5000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| Domestic         | 45   | 48   | 44   | 47   | 0    | 47   | (MT) |
| Consumption      | 5000 | 5000 | 5000 | 5000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| Other Use/Loss   | 0    | 0    | 0    | 0    | 0    | 0    | (MT) |
+------------------+------+------+------+------+------+------+------+
| TOTAL            | 45   | 48   | 44   | 47   | 0    | 47   | (MT) |
| Utilization      | 5000 | 5000 | 5000 | 5000 |      | 0000 |      |
+------------------+------+------+------+------+------+------+------+
| Ending Stocks    | 12   | 10   | 11   | 9    | 0    | 9    | (MT) |
|                  | 6000 | 9000 | 6000 | 9000 |      | 9000 |      |
+------------------+------+------+------+------+------+------+------+
| TOTAL            | 62   | 65   | 60   | 62   | 0    | 60   | (MT) |
| DISTRIBUTION     | 6000 | 8000 | 1000 | 9000 |      | 9000 |      |
+------------------+------+------+------+------+------+------+------+

Note: Updated from feed back file.

# Surimi PS&D Table (Required)

+---------------+------+------+------+------+------+------+-------+
| Japan         |      |      |      |      |      |      |       |
|               |      |      |      |      |      |      |       |
| ###### Surimi |      |      |      |      |      |      |       |
+---------------+------+------+------+------+------+------+-------+
|               | 2003 | Rev  | 2004 | Esti | 2005 | Fore | UOM   |
|               |      | ised |      | mate |      | cast |       |
+---------------+------+------+------+------+------+------+-------+
|               | USDA | Post | USDA | Post | USDA | Post |       |
|               | Offi | Esti | Offi | Esti | Offi | Esti |       |
|               | cial | mate | cial | mate | cial | mate |       |
|               | \[O  | \[N  | \[O  | \[N  | \[O  | \[N  |       |
|               | ld\] | ew\] | ld\] | ew\] | ld\] | ew\] |       |
+---------------+------+------+------+------+------+------+-------+
| Market Year   |      | 01/  |      | 01/  |      | 01/  | MM    |
| Begin         |      | 2003 |      | 2004 |      | 2005 | /YYYY |
+---------------+------+------+------+------+------+------+-------+
| Beginning     | 8    | 8    | 8    | 7    | 8    | 8    | (MT)  |
| Stocks        | 4000 | 4000 | 1000 | 9000 | 3000 | 2000 |       |
+---------------+------+------+------+------+------+------+-------+
| Total         | 10   | 10   | 11   | 10   | 0    | 10   | (MT)  |
| Production    | 5000 | 1000 | 0000 | 5000 |      | 0000 |       |
+---------------+------+------+------+------+------+------+-------+
| Intra-EC      | 0    | 0    | 0    | 0    | 0    | 0    | (MT)  |
| Imports       |      |      |      |      |      |      |       |
+---------------+------+------+------+------+------+------+-------+
| Other Imports | 29   | 26   | 29   | 29   | 0    | 28   | (MT)  |
|               | 5000 | 9000 | 5000 | 5000 |      | 0000 |       |
+---------------+------+------+------+------+------+------+-------+
| TOTAL Imports | 29   | 26   | 29   | 29   | 0    | 28   | (MT)  |
|               | 5000 | 9000 | 5000 | 5000 |      | 0000 |       |
+---------------+------+------+------+------+------+------+-------+
| TOTAL SUPPLY  | 48   | 45   | 48   | 47   | 8    | 46   | (MT)  |
|               | 4000 | 4000 | 6000 | 9000 | 3000 | 2000 |       |
+---------------+------+------+------+------+------+------+-------+
| Intra-EC      | 0    | 0    | 0    | 0    | 0    | 0    | (MT)  |
| Exports       |      |      |      |      |      |      |       |
+---------------+------+------+------+------+------+------+-------+
| Other Exports | 3000 | 3000 | 3000 | 2000 | 0    | 2000 | (MT)  |
+---------------+------+------+------+------+------+------+-------+
| TOTAL Exports | 3000 | 3000 | 3000 | 2000 | 0    | 2000 | (MT)  |
+---------------+------+------+------+------+------+------+-------+
| Domestic      | 40   | 37   | 40   | 39   | 0    | 38   | (MT)  |
| Consumption   | 0000 | 2000 | 0000 | 5000 |      | 0000 |       |
+---------------+------+------+------+------+------+------+-------+
| Other         | 0    | 0    | 0    | 0    | 0    | 0    | (MT)  |
| Use/Loss      |      |      |      |      |      |      |       |
+---------------+------+------+------+------+------+------+-------+
| TOTAL         | 40   | 37   | 40   | 39   | 0    | 38   | (MT)  |
| Utilization   | 0000 | 2000 | 0000 | 5000 |      | 0000 |       |
+---------------+------+------+------+------+------+------+-------+
| Ending Stocks | 8    | 7    | 8    | 8    | 0    | 8    | (MT)  |
|               | 1000 | 9000 | 3000 | 2000 |      | 0000 |       |
+---------------+------+------+------+------+------+------+-------+
| TOTAL         | 48   | 45   | 48   | 47   | 0    | 46   | (MT)  |
| DISTRIBUTION  | 4000 | 4000 | 6000 | 9000 |      | 2000 |       |
+---------------+------+------+------+------+------+------+-------+

Note: Updated from feedback file.

# Salmon/Trout Roe and Egg PS&D Table (Voluntary) 

+---------------+--------+--------+--------+--------+--------+--------+
| Japan         |        |        |        |        |        |        |
|               |        |        |        |        |        |        |
| ####### Salm  |        |        |        |        |        |        |
| on/Trout Roes |        |        |        |        |        |        |
|               |        |        |        |        |        |        |
| (1,000 Metric |        |        |        |        |        |        |
| Tons)         |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
|               |        | 2003   |        | 2004   |        | 2005   |
+---------------+--------+--------+--------+--------+--------+--------+
|               | OLD    | P      | OLD    | Pro    | OLD    | Pro    |
|               |        | relim. |        | jected |        | jected |
+---------------+--------+--------+--------+--------+--------+--------+
| Beginning     | 9      | 9      | 9      | 10     | 8      | 10     |
| Stocks        |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Total         | 6      | 7      | 6      | 7      | 0      | 6      |
| Production    |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Intra EC      | #N/A   | #N/A   | #N/A   | #N/A   | #N/A   | #N/A   |
| Imports       |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Other Imports | 9      | 9      | 9      | 9      | 0      | 8      |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL Imports | 9      | 9      | 9      | 9      | 0      | 8      |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL SUPPLY  | 24     | 25     | 24     | 26     | 8      | 24     |
+---------------+--------+--------+--------+--------+--------+--------+
| Intra EC      |        |        |        |        |        |        |
| Exports       |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Other Exports | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL Exports | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| Dom.          | 15     | 15     | 16     | 16     | 0      | 15     |
| Consumption   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Other         | 0      | 0      | 0      | 0      | 0      | 0      |
| Use/Loss      |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL         | 15     | 15     | 16     | 16     | 0      | 15     |
| Utilization   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Ending Stock  | 9      | 10     | 8      | 10     | 0      | 9      |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL         | 24     | 25     | 24     | 26     | 0      | 24     |
| DISTRIBUTION  |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+

Note: Attached voluntarily, no feedback file available.

# Pollock and Cod Roes PS&D Table (Voluntary)

+---------------+--------+--------+--------+--------+--------+--------+
| #             |        |        |        |        |        |        |
| ####### Japan |        |        |        |        |        |        |
|               |        |        |        |        |        |        |
| Cod/Pollock   |        |        |        |        |        |        |
| Roe           |        |        |        |        |        |        |
|               |        |        |        |        |        |        |
| (1,000 Metric |        |        |        |        |        |        |
| Tons)         |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
|               |        | 2003   |        | 2004   |        | 2005   |
+---------------+--------+--------+--------+--------+--------+--------+
|               | OLD    | P      | OLD    | Pro    | OLD    | Pro    |
|               |        | relim. |        | jected |        | jected |
+---------------+--------+--------+--------+--------+--------+--------+
| Beginning     | 21     | 21     | 23     | 21     | 22     | 23     |
| Stocks        |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Total         | 7      | 7      | 8      | 7      | 0      | 7      |
| Production    |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Intra EC      | #N/A   | #N/A   | #N/A   | #N/A   | #N/A   | #N/A   |
| Imports       |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Other Imports | 46     | 47     | 43     | 48     | 0      | 45     |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL Imports | 46     | 47     | 43     | 48     | 0      | 45     |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL SUPPLY  | 74     | 75     | 74     | 76     | 22     | 75     |
+---------------+--------+--------+--------+--------+--------+--------+
| Intra EC      | #N/A   | #N/A   | #N/A   | #N/A   | #N/A   | #N/A   |
| Exports       |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Other Exports | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL Exports | 0      | 0      | 0      | 0      | 0      | 0      |
+---------------+--------+--------+--------+--------+--------+--------+
| Dom.          | 51     | 54     | 52     | 53     | 0      | 53     |
| Consumption   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Other         | 0      | 0      | 0      | 0      | 0      | 0      |
| Use/Loss      |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL         | 51     | 54     | 52     | 53     | 0      | 53     |
| Utilization   |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+
| Ending Stock  | 23     | 21     | 22     | 23     | 0      | 22     |
+---------------+--------+--------+--------+--------+--------+--------+
| TOTAL         | 74     | 75     | 74     | 76     | 0      | 75     |
| DISTRIBUTION  |        |        |        |        |        |        |
+---------------+--------+--------+--------+--------+--------+--------+

Note: Attached voluntarily, no feedback file available.