February 28, 2014 — China’s seafood exporters are hopeful that strong growth has returned to the Western export markets, after strong data was published for January by a bellwether seafood processing and production region. The southeasterly province of Shandong in January shipped 236,000 metric tons (MT) of seafood worth USD 760 million (EUR 555.7 million) — an increase of 6.2 percent and 12.3 percent respectively.
The strongest growth however was recorded for shipments to the EU and U.S., with 18,000 MT worth USD 81.4 million (EUR 59.5 million) shipped to the latter according to data provided by the provincial Ocean & Fisheries Bureau. That’s a year-on-year growth of 52.7 percent and 32 percent, respectively. The EU meanwhile bought 35,000 MT worth USD 120 million (EUR 87.8 million), up 49.7 percent and 39.2 percent, respectively.
Other key markets performed well, but not as strongly as the two key western blocs. Japan bought 39,000 MT of Shandong seafood in January, paying USD 210 million (EUR 153.6 million), up 10.7 percent and 4.6 percent respectively year-on-year. Korea accounted for 13,000 MT (USD 46.6 million, EUR 34 million), a rise of 17.3 percent and 16.9 percent, respectively, year-on-year.
China’s state-run media has made much this month of a recovery in western markets as a driver of demand for China’s overall exports. But a worrying note of caution for the seafood sector was sounded by a leading trade official who warned the sector needs to improve quality in order to combat rising competition from Southeast Asia producers in particular.
Read the full story at Seafood Source