China Market Update

STAG is monitoring the market situation and verifying reports where-ever possible. Where there are significant changes to the market, this will be reported via regular bulletins:

a) Sent by direct email to people registered to receive updates; and

b) Posting updates on the STAG website www.seafoodtradeadvisory.com

This information will be factual and verified to the extent possible given the communication difficulties and the rapidly evolving situation.

China Market Update

The Australian seafood industry are concerned for the health and well-being of their business partners in China who have been impacted by the current Coronavirus situation. We support the efforts of the seafood industry in China, their customers and their government authorities as they deal with this difficult situation.

The current market situation in China as we understand it is:

· Last seafood airfreight cargo accepted to China was 26th ETA.

· No landings since then for seafood airfreight cargo from Australia and New Zealand (+ rest of world).

· Global supply has been suspended with all fisheries slowing down or adjusting prices to allow for new markets (e.g. Canada moving back to frozen markets).

· No fish is being landed in any of these markets until situation is clearer and or current inventories dealt with.

· China importers believe this could be 6-8 weeks before product flows back to China.

STAG Bulletins are available at http://www.seafoodtradeadvisory.com

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STAG Bulletins are a resource for Australian seafood exporters.The Seafood Trade Advisory Group receives funds from the Fisheries Research and Development Corporation. The Fisheries Research and Development Corporation plans, invests in and manages fisheries research and development throughout Australia. It is a statutory authority within the portfolio of the federal Minister for Agriculture, Fisheries and Forestry, jointly funded by the Australian Government and the fishing industry.