China's Whole Category Seafood Import Data Analysis!

China's whole category seafood import data analysis!

While many in the domestic industry are concerned that the global coronavirus outbreak is affecting the supply of seafood in various countries, China's huge demand for seafood imports offers an outlet for companies whose seafood sales are declining elsewhere.

In 2019, China's seafood imports surged 39 percent to 106 billion yuan ($15.6 billion), making it the world's second largest importer of aquatic products after the United States. China is also the world's largest importer of shrimp.

Crustaceans: China imported $7.03 billion worth of crustaceans, accounting for 45 percent of China's total seafood imports. Adding mollusks, such as squid, octopus, etc., the import value rose to $8.59 billion, accounting for 55 percent of the total imports.

The largest crustaceans imported into China are shrimp, including frozen, live or fresh cold and warm water shrimp. In 2019, China's shrimp imports nearly tripled to 718,000 tons worth $4.44 billion, with Ecuador and India being the largest shrimp suppliers to China.

Whitefish:

Imports of whole frozen fish, such as Alaskan cod and basa, are also substantial, with a total import value of $4.94 billion, accounting for 31% of total imports (see chart above), but with a few exceptions, most whole frozen fish are processed in China and re-exported.

Crab:

Another popular category in China is imported crab, with fresh and frozen products, and Russian king crab and British brown crab are among China's major imports, with total imports falling 2% year-on-year to $778 million in 2019. Among them, frozen crab imports from Chile amounted to $210 million, down 24% year-on-year.

Lobster:

In terms of imported lobsters, the main importing countries are Australia and New Zealand, and the product status is fresh, and frozen. Imports rose 3 percent year on year to $941 million, the data showed. Demand for American lobsters rose 7 percent to $475 million.

Molluscs:

Meanwhile, imports of frozen squid and cuttlefish rose 63 percent to $862 million in 2019. That figure does not include squid caught by China's vast ocean-going fishing fleet.

Salmon (salmon) :

Meanwhile, China's fresh Atlantic salmon imports grew only 5% to $686 million in 2019, while frozen Atlantic salmon imports fell 1% to $90 million. (The industry was not surprised when one of China's largest salmon importers said recently that salmon imports were growing relatively slowly.)

In Russia and Alaska, the country's main supply of salmon, which is mostly wild, imports fell 43 percent to $326 million, mainly due to poor fishing.

Pelagic fish (such as mackerel, herring, etc.) : China's imports of mackerel from the Atlantic and Pacific increased by 19 percent to $200 million, while imports of herring increased by 25 percent to $110 million.

Tuna:

China's total frozen tuna imports fell 34 percent to $93 million, excluding tuna caught by Chinese vessels in China. Most tuna is processed and then exported, especially cooked tuna loins.

Toothfish, flounder:

China's frozen toothfish imports rose 32 per cent to $167 million, while Greenland halibut imports rose 24 per cent to $408 million.

The rapid growth in imports of species for domestic consumption is largely attributed to a sharp decline in seafood smuggled through Vietnam.

Four out of five Chinese companies expect seafood imports to decline in 2020

Indeed, the biggest concern for Chinese seafood executives is the supply side; According to the survey, nearly half or more of Chinese seafood companies believe that the supply of shrimp, salmon, basa fish and American lobster, as well as Chinese demand for these products, will decline by 2020.

Simply put, Chinese companies are worried that because of border and air blockades in many countries, companies that might want to sell to China are having a hard time getting supplies.

In addition, if Chinese companies expect supply decline and demand decline to occur in 2020, of the two, the preference is for supply decline, and in 2020, as it is unknown when the epidemic will be brought under control in various countries, then supply side issues will dominate, rather than weak Chinese demand.

According to the survey data, in 2020, 53% of people believe that shrimp supply and Chinese shrimp demand will decline. Twenty-two percent expect the supply of shrimp to decline, but demand from China to increase. In contrast, only 8% expect the supply of shrimp to increase, while demand for shrimp in China will also decline. Fourteen percent said they could not make a judgment.

In other words, four out of five Chinese companies surveyed expect a decline in the supply of aquatic products in 2020, while less than one in 10 expect an increase.

China's whole category seafood import data analysis!

While many in the domestic industry are concerned that the global coronavirus outbreak is affecting the supply of seafood in various countries, China's huge demand for seafood imports offers an outlet for companies whose seafood sales are declining elsewhere.

In 2019, China's seafood imports surged 39 percent to 106 billion yuan ($15.6 billion), making it the world's second largest importer of aquatic products after the United States. China is also the world's largest importer of shrimp.

Crustaceans: China imported $7.03 billion worth of crustaceans, accounting for 45 percent of China's total seafood imports. Adding mollusks, such as squid, octopus, etc., the import value rose to $8.59 billion, accounting for 55 percent of the total imports.

The largest crustaceans imported into China are shrimp, including frozen, live or fresh cold and warm water shrimp. In 2019, China's shrimp imports nearly tripled to 718,000 tons worth $4.44 billion, with Ecuador and India being the largest shrimp suppliers to China.

Whitefish:

Imports of whole frozen fish, such as Alaskan cod and basa, are also substantial, with a total import value of $4.94 billion, accounting for 31% of total imports (see chart above), but with a few exceptions, most whole frozen fish are processed in China and re-exported.

Crab:

Another popular category in China is imported crab, with fresh and frozen products, and Russian king crab and British brown crab are among China's major imports, with total imports falling 2% year-on-year to $778 million in 2019. Among them, frozen crab imports from Chile amounted to $210 million, down 24% year-on-year.

Lobster:

In terms of imported lobsters, the main importing countries are Australia and New Zealand, and the product status is fresh, and frozen. Imports rose 3 percent year on year to $941 million, the data showed. Demand for American lobsters rose 7 percent to $475 million.

Molluscs:

Meanwhile, imports of frozen squid and cuttlefish rose 63 percent to $862 million in 2019. That figure does not include squid caught by China's vast ocean-going fishing fleet.

Salmon (salmon) :

Meanwhile, China's fresh Atlantic salmon imports grew only 5% to $686 million in 2019, while frozen Atlantic salmon imports fell 1% to $90 million. (The industry was not surprised when one of China's largest salmon importers said recently that salmon imports were growing relatively slowly.)

In Russia and Alaska, the country's main supply of salmon, which is mostly wild, imports fell 43 percent to $326 million, mainly due to poor fishing.

Pelagic fish (such as mackerel, herring, etc.) : China's imports of mackerel from the Atlantic and Pacific increased by 19 percent to $200 million, while imports of herring increased by 25 percent to $110 million.

Tuna:

China's total frozen tuna imports fell 34 percent to $93 million, excluding tuna caught by Chinese vessels in China. Most tuna is processed and then exported, especially cooked tuna loins.

Toothfish, flounder:

China's frozen toothfish imports rose 32 per cent to $167 million, while Greenland halibut imports rose 24 per cent to $408 million.

The rapid growth in imports of species for domestic consumption is largely attributed to a sharp decline in seafood smuggled through Vietnam.

Four out of five Chinese companies expect seafood imports to decline in 2020

Indeed, the biggest concern for Chinese seafood executives is the supply side; According to the survey, nearly half or more of Chinese seafood companies believe that the supply of shrimp, salmon, basa fish and American lobster, as well as Chinese demand for these products, will decline by 2020.

Simply put, Chinese companies are worried that because of border and air blockades in many countries, companies that might want to sell to China are having a hard time getting supplies.

In addition, if Chinese companies expect supply decline and demand decline to occur in 2020, of the two, the preference is for supply decline, and in 2020, as it is unknown when the epidemic will be brought under control in various countries, then supply side issues will dominate, rather than weak Chinese demand.

According to the survey data, in 2020, 53% of people believe that shrimp supply and Chinese shrimp demand will decline. Twenty-two percent expect the supply of shrimp to decline, but demand from China to increase. In contrast, only 8% expect the supply of shrimp to increase, while demand for shrimp in China will also decline. Fourteen percent said they could not make a judgment.

In other words, four out of five Chinese companies surveyed expect a decline in the supply of aquatic products in 2020, while less than one in 10 expect an increase.