STAG NEWS BITES is produced for Australian Seafood Exporters, containing important updates and informal translations of news from Asian media sources. Any information provided as part of this trade news service is general in nature. Before acting on any information provided, you should consider its appropriateness to your circumstances and business objectives.
M A R K E T N E W S
Chinese Translated Media
Below are four articles translated from Chinese media that focus on three key trends currently occuring:
1. Due to Chinese citizens choosing to stay home this Chinese New Year, ready-to-eat seafood products are more popular than ever as small families spend their holidays together and prepare food themselves. There is also the view that 'semi-finished' and ready-to-eat seafood products are easier to transport and buy via online shopping than fresh seafood.
2. Inspection processes of frozen and chilled food are increasing, not only by GACC but also by other market regulation departments to ensure food safety in retail and catering. This is having an impact on buyer confidence, including suppliers and importers.
3. Imported seafood, including seafood from Australia, is showing to not be as popular as in previous Chinese New Year celebrations. Many customers are lacking confidence in imported food, even fresh food, like cherries.
Note: If foreign articles are opened in Chrome, they can be automatically translated
Domestic demand rises, fish and shrimp prices continue to rise before the Chinese New Year holiday!
During the epidemic period, due to the obstruction of the offline market, e-commerce and new retail developing strongly, some aquatic products companies took advantage of this trend. At the same time, affected by consumers’ concerns about raw food products, some aquatic products have begun to gradually move towards processed products that are easy to store and cook. At present, consumers have insufficient confidence in imported seafood products. The number of imported seafood products on the market has decreased, and domestic consumers have turned their attention to domestic aquatic products. Read more here
East China Sea and Yellow Sea seafood sales increased by 50%!
Sales related to the Spring Festival market is booming. Among them, domestic produced chilled seafood products; chilled poultry; and eggs had the most significant increase. Many families are turning to semi-finished and ready-to-eat dishes from catering companies and seafood specialty stores. Shanghai citizens decided to purchase domestic seafood before the holidays, especially from the East China Sea and Yellow Sea because of recent COVID-10 outbreaks in the cold chain transportation system. Read more here
Imported seafood has plummeted, semi-finished products, pre-products, and derivatives are favoured
Imported seafood sales have plummeted by more than 60%, mainly impacting frozen seafood products. This is the first time that imported seafood consumption has decreased after more than 10 years of continuous growth. Customers have changed their habits choosing to purchase semi-finished products, ready-to-eat products, and derivative products. The sales of these three types of seafood surpassed seafood raw materials for the first time. It is reported that the most popular New Year dish is the "buddha jumped over the wall" which includes sea cucumber, abalone, ham, fish lips, fish maw and mushrooms which once only appeared in high-end banquets. Read more here
In 2020, China’s seafood imports fell by 20% and exports will fall by 8%
According to customs statistics, China’s total seafood imports in 2020 are about 12.7 billion U.S. dollars, which is a decrease of 20% from 2019 (15.6 billion U.S. dollars). This appears to be as a result of the Chinese being cautious about imported seafood, including Chinese importers and foreign suppliers. The speed of customs clearance has also slowed down, products must be disinfected after they arrive at the port, and the detention period is prolonged, resulting in increased logistics costs. Read more here
OTHER M A R K E T N E W S
Importance of RCEP international trade deal promoted
Source: China Daily, 9th February 2021
China's Cabinet called for an acceleration of domestic institutional reforms to facilitate the implementation of the Regional Comprehensive Economic Partnership (RCEP), with measures to quicken the formation of domestic regulations on rules of origin－key to defining where a product was made and for implementing trade policy measures, including tariff reductions－and guides on the rollout of the trade deal.
Image: Shi Yu, China Daily
CECC finds no trace of coronavirus in food imports
Source: Taipei Times, 3rd February 2021
The Central Epidemic Command Center (CECC) said that COVID-19 surface testing on 104 batches of frozen food imported from 10 countries all came back negative.
The Minister of Health and Welfare said that although health and food safety authorities in most countries have not found any evidence of COVID-19 transmission through frozen foods, one country (China) has repeatedly claimed to have found the novel coronavirus in imported frozen food and packaging.
Image: Ke Yu-hao, Taipei Times
Impact on restaurants from Hong Kong's lockdown & dine-in ban
Source: Hong Kong Free Press, 27 Jan 2021
Hong Kong eateries have struggled to remain afloat since the re-imposed ban on dining in after 6pm. Up until 6pm, only two people are allowed per table.
Many restaurants and stores in formerly locked-down Jordan have continued to shut down for the lunch hour despite the lifting of lockdown restrictions, as they claim there was not enough business to go round.
Image: Selina Cheng, Hong Kong Free Press
Japan may lift coronavirus emergency in three prefectures
Source: Japan Times, 9th February 2021
The Japanese government is considering lifting its latest state of emergency in three prefectures where new COVID-19 infections have dropped off substantially — Aichi and Gifu in central Japan, and Fukuoka in the southwest.
Image: Kyodo via Reuters
UN SDGs influencing Japanese seafood buying
Source: Seafood Source, 29th January 2021
Japanese corporations have been heavily influenced by the United Nations Sustainable Development Goals (SDGs).
Practically every major company in Japan has amended its corporate social responsibility reports to include an accomplishment in each of the 17 categories, including for SDG 14, “Life below Water,” which calls for the sustainable management and protect marine and coastal ecosystems from pollution, as well as efforts to address the impacts of ocean acidification. This change has had an incrementally large effect on their decisions on seafood purchasing, investments, and corporate philanthropy.
Abalone prices down but veg and fish prices soar ahead of CNY in Singapore
Source: The Straits Times, 7th February 2021
Abalone prices have dropped by 5 percent to 30 percent during this Chinese New Year period, said wholesalers.
It is reported this was due to Singaporeans' low spending power during the coronavirus pandemic as well as an oversupply of stock in China. For instance, the price of a 180g can of Yoshihama abalone from Japan fell from last year's price of $28 to $20 last week. And the price of a 180g of Crown Brand abalone from China dropped from last year's tag of $21 to $13 last week.
Image: Alphonsus Chern
A COVID-CNY: Simple celebrations and safety measures in restaurants and shops
Source: CNA, 7th February 2021
Some Singaporeans are reporting that where they used to visit five homes of about 20 people each over several days for Chinese New Year, this year will focus on a simple family reunion dinner on CNY Eve and a celebration with extended family via Zoom.
Retailers and restaurants have COVID-19 safe management measures in place, in preparation for Chinese New Year shoppers.
Image: Marcus Mark Ramos
Podcast will outline Valentine's Day seafood numbers/sales
Source: Seafood News, 10th February 2021
Join the Seafood News podcast as they break down Valentine's Day by the numbers, learn more about the Maine Lobster Marketing Collaborative's plans, and find out what's going on in the shrimp and octopus markets.
STAG News Bites is a resource for Australian seafood exporters, currently funded by the Abalone Council Australia Ltd, Southern Rocklobster Ltd, Australian Abalone Growers Association, Western Rocklobster Council and the Fisheries Research and Development Corporation. We acknowledge past funding from the Australian Government Department of Agriculture and Water Resources, through the Package Assisting Small Exporters.
This STAG publication contains informal translation of foreign and Asian media. Any information provided as part of this trade news service is general in nature. Before acting on any information provided, you should consider its appropriateness to your circumstances and business objectives.
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