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23 January 2013

China Becomes Fish Superpower

Seafood consumption in China is growing at a dizzying pace

Recently I came across a new report from the USDA that contains some interesting information.
According to the report issued by the Foreign Agricultural Trade (FAS), fast income growth and drastic changes in lifestyle have become a basis for growth of demand for seafood, which open new great opportunities for international seafood exporters in a new market.
The FAS report says, and I wrote it in my previous posts too, that China has become the “fish superpower”, and now plays a significant role in the global seafood and fish products market, being not only a consumer, but also one of the world major seafood producers, exporters and importers. Currently the share of China accounts for 40 percent (!) of the world fish and seafood production, according to the information from Chinese customs and Chinese Ministry of Agriculture (MOA).
In the first three quarters of 2012 Chinese seafood companies exported over 2.7 million MT of fish and seafood worth over USD 13.4 billion, showing a 4.4 percent decrease in volume, but 8 percent gain in profit.
Meanwhile, fish and seafood imports to China reached nearly 1.8 million MT worth USD 3.9 billion. This is 4 percent higher in volume and 8 per cent lower in value. The major seafood supplier to China is Russia, and the United States come second.
In my opinion, this year this trend will be developing a bit slower due to more moderate pace of the Chinese economy, according to the economists’ forecasts.


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