STAG News Bite 6 April 2023

Some of these articles are in foreign languages and can be automatically translated on Google Chrome.

Note: These articles are a round-up of news media in key seafood markets. The information is provided as part of our market intelligence service to Australian seafood exporters. The views expressed in the media articles are not those of the STAG and are in no way endorsed by us.

📊 China: Regional snapshots

Shenzhen: Seafoodsource.com reports there is strong demand and good prices for lobsters in the city. The article also covers China’s broader seafood market situation. Read more here.

Chengdu: According to a report from Chengdu News, airfreight seafood imports are accelerating: “Boston lobsters arrived in Chengdu by "flying". On February 18 this year, the first batch of Canadian Boston lobsters arrived in Chengdu, becoming the first batch of seafood products imported by Chengdu Airport this year.” Read more here (Chinese).

Weihai: This city in Shandong province is a centre for the manufacture and export of processed seafood products:

‘...there are more than 1,000 types of marine prefabricated dishes (manufactured) in the city. Processed export products include sticky fish steaks, shrimp cakes, fish balls and other categories; Internet celebrity products include spicy kelp, garlic vermicelli and other categories. Taking squid processed dishes as an example, it can be divided into frozen products such as squid flowers, squid tubes, squid rings, squid slices, and ready-to-eat snack foods such as squid shreds.’ Read more about processed seafood production in Weihai here (Chinese).

For more on China’s processed food market, and the huge potential for growth, have a look at this transcript of the speech by Xue Yuan (Chinese), chief analyst of the food and beverage industry of CITIC Securities, at the "2023 China Catering Industry Summit". - note: ‘prefabricated food’ may be automatically translated to ‘prefabricated vegetables’.

Wuhan: As an inland city, land-based aquaculture is playing an important role in increasing the supply of fresh seafood. Watch this interesting English-language video from CGTN.

Xue Yuan, Chief Analyst of CITIC Securities Food and Beverage Industry

🏕️ Korea: ‘Glamping’ promotion lifts seafood sales

Thinking about how to market premium seafood to Korean consumers? According to Fish Farmer Magazine, the Norwegian Seafood Council has tapped into Korea’s love of camping and BBQ to lift sales of salmon:

‘...the Seafood Council set up a massive tent in the heart of the capital, Seoul. Here, the Seafood Council said, visitors were able to enter, experience a small piece of Norway with beautiful nature, fjords and mountains. They could learn about salmon and enjoy the fish cooked on a grill and gas flames as if in the open air. The cooking ring was hosted by well-known chef-influencers.’ Read more about the campaign here.

📉 USA: Inflation bites into seafood sales

Seafoodsource.com reports on the effects of inflation for seafood sales: ‘...average retail prices of frozen seafood jumped 6.6 percent for the 13 weeks ending 4 February, resulting in a 8.3 percent drop in sales by volume and a 2.2 percent decline in dollar sales. Conversely, fresh seafood inflation was 1.1 percent for the quarter, resulting in a 2.9 percent slide in sales by volume’.
Read the article here.

📱 Japan: International seafood sales app

The Japan Times reports: ‘A Japanese company has tapped into growing demand in Asia for fresh seafood, allowing overseas customers to use a smartphone app to order freshly caught fish from ports across Japan and ensuring hassle-free delivery.’ Read the story here.

https://www.japantimes.co.jp/news/2023/03/21/business/fish-app/

💻 China: E-commerce

As China’s e-commerce seafood sales increase, sellers should remember that consumers are paying close attention to detail. Always be clear about what the customer will receive in terms of weight and value for money. Read this story for a cautionary tale.

✈️ Supply Chain Snapshot

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