Some of the links to articles are in other 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. 

Image: Fisherman Joe Paratore shows a rock lobster aboard his boat in Fremantle, Western Australia. Photo: AFP

🦞 China: Lobster access

The South China Morning Post reports, ‘China is discussing customs clearance for Australian lobsters two years after imposing import restrictions amid a volatile trade spat, the chairman of Hong Kong Chamber of Seafood Merchants has said.’

The article also raises concerns that Australian lobster might face tough competition in the mainland market from alternative suppliers like Vietnam and Cuba. Read the full story here.

Image: Sohu.com -  Photo courtesy of Shanghai Customs

💹 Spring Festival Market Conditions

China Economic Net reports there will be sufficient supply of seafood for the Spring Festival period in China. An overview of mainland seafood supply, demand and price factors for 2022 and heading into the lunar new year here.

Imports of live seafood are surging at Shanghai’s Pudong International Airport, according to this interesting piece looking at customs clearance procedures. Similar reporting with additional details here. The report states that customs clearance of fresh, live and chilled aquatic products via air channels, has increased by 14 percent over the same period last year.

E-commerce retailer Pinduoduo reported on pre-festival online food sales: ‘In the consumption of seafood, aquatic products and other categories, the sales of domestic seafood increased by 140% month-on-month, and imported seafood such as black tiger shrimp, Argentine red shrimp, and arctic sweet shrimp increased by 220% month-on-month. Read more here.

In terms of regional Chinese markets, a seafood wholesale market report from Qingdao observes, ‘most is the obvious shrinkage of high-end seafood consumption… the sales volume is only one-third. This year, the general consumption level of seafood has declined. High-priced seafood cannot be sold, and cheap seafood is relatively popular.’ Read here (Chinese).

Similarly, in Ningbo,: "The price of high-end premium seafood has risen significantly, such as big pomfret, fresh red cream crab, large yellow croaker, and radar net hairtail. The larger the size, the greater the price increase, while the price of economical seafood has little fluctuation." Read more here (Chinese).

In Fuzhou, the mood amongst seafood traders was positive, but this report offers few extra details. Read here (Chinese).

In Singapore, seafood prices are rising due to the confluence of Spring Festival demand and poor weather conditions affecting supply. Read more from TodayOnline.com here.

🦞 North American lobster industry news

The Maine lobster fishing industry has been granted another six years by the US government to address the sector’s impact on North Atlantic right whales. Could lobster pot technology be the answer? Watch a video from The Wall Street Journal here.

Despite securing a reprieve on right whales, separate new regulation has created another burden for the Maine lobster industry by requiring additional catch reporting. Read more here.

In Canada, lobster fishing licenses are more valuable/expensive than ever, according to this report from CBC News.

📊 US millennials buying less seafood than other generations

Millennials will soon represent the majority of retail purchasing power worldwide. What will this mean for seafood consumption?

According to one US expert, “For fresh seafood, [baby] boomers buy 20 percent more seafood than the average US household, and they buy a lot more than millennials.” Read more on the Seafoodsource.com website here.

Other markets might look more positive. The Pinduoduo online sales data report (referenced above) revealed that young people in China’s second and third-tier cities drove seafood sales in the lead up to Lunar New Year:

‘...young people in small towns have become the fastest-growing group for buying seafood such as prawns, abalones, and hairtails. This has also boosted the proportion of seafood orders in counties and villages to exceed that of first-tier cities in Beijing, Shanghai, Guangzhou and Shenzhen for the first time.’ Read more here.

Image: cbc.ca 

🦀 Japan: Russian crab imports grow

Canadian crustacean exporters are concerned about cheap crabs from Russia displacing Canadian product in Japan. According to Canada’s CBC News, ‘While many countries are imposing sanctions on Russia as a result of the war in Ukraine, Japan is taking advantage of low Russian snow crab prices.’ Read more here.

At the same time, Moscow has reportedly refused to engage in annual talks with Tokyo regarding commercial fishing around disputed islands in Japan’s north. According to the Japan Times, ‘Japanese fishing operations are already being affected, as the fishing season for Alaska pollock usually runs from early January to mid-March.’ Read more here.

Image: m.stnn.cc

🍽 Asia: Lobster and abalone fine dining

Enjoy these mouth-watering examples of the fine dining scene in East Asia, featuring rock lobster and abalone: southern rock lobster in Hong Kong (Chinese); epic lobster and abalone rice cake in Taiwan (Chinese); ehomaki rolls made with spiny lobster in Japan (Japanese).

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www.seafoodtradeadvisory.com

The Seafood Trade Advisory Group (STAG) is jointly funded by the Australian government and the fishing industry. We receive funds from the Fisheries Research and Development Corporation (FRDC).which is a statutory authority within the portfolio of the Federal Minister for Agriculture, Water and the Environment. 

 Any information provided in this STAG publication is general in nature. Before acting on any information provided, you should consider its appropriateness to your individual circumstances and business objectives.