Unfavorable exchange rates are hurting Japanese fish paste product makers. The yen has weakened from the 101 to 103 per U.S. dollar range in the first half of 2014 to the current level of around 118 yen per dollar, a nearly 15 percent difference.

Surimi prices are rising even in yen terms, reflecting low inventory levels in Japan. Blocks from Alaska’s current “A” season are trading at 40 to 50 yen (USD 0.33 to 0.42;, EUR 30 to 37) per kilogram higher than for the “B” season, a 15 to 2…