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21 December 2012

Global Frozen Fish Sales To Increase In 2012-2016

This post is quite optimistic since good prospects are promised for our businesses.

According to the “Outlook for the global frozen fish market” prepared by the BusinesStat in the end of 2012, during 2007-2011 the frozen fish sales in the world grew annually, and reached 30.0 million MT in 2011. The world leaders in terms of sales for the five years are China, Russia and Japan, which joint share exceeded 50 per cent of the global sales. As for estimates by the consumption per capita, in 2007-2011 Norway took the leading place. This is no surprise since fish is the most important food in Norwegian cuisine, so frozen fish is consumed there in larger volumes than in other countries. According to analysts, in 2012-2016 the worldwide frozen fish sales will continue to grow.
Frozen fish production in the world from 2007 to 2011 increased to 30.8 million MT with China being the larger producer. However, the highest level of frozen fish production per capita was recorded in Iceland. It is accounted to the fact that fishing is the main industry of the Icelandic economy, while the country’s population is low (326 thousand people in 2011).
I’d also like to highlight a following trend, larger consumption of imported frozen fish compared to domestic production. The share of imports in total world sales in 2007-2011 never dropped below 57.4 per cent, and frozen fish imports volume in the last years increased by 1.5 million MT. The main importers were China again and Nigeria. Frozen fish exports in the world in 2007-2011 increased by 10.3 per cent. China, Norway and Russia are named as the biggest exporters by volume, and, in my opinion, these key market players will remain on their leading positions in the foreseeable future. However, their shares in the global fish market may change.
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