STAG News Bites: 💹Korea, USA, EU prices; 🍴China F&B trends; 🥇Seafood power ranking

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. 

💹 Korea: Seafood import prices up in 2023 

The Vietnam Association of Seafood Exporters and Producers (VASEP) reports on South Korean seafood prices. According to Korean customs data, the average per kilogram price of imported seafood rose 13 percent in the first four months of this year.  

“Live seafood is the most imported product into Korea, accounting for 49% of the import value”  

Read more on the VASEP website here (Vietnamese).  

📉 USA: Market trends 

Supermarket Perimeter reports on seafood pricing and consumer trends in the USA, noting strong recent supply of crab and lobster leading to retail discounts for consumers.   

According to one supermarket executive, “Retailers should also promote crab and lobster for holidays such as Easter and Mother’s Day as “we always see shoppers willing to open their wallets just a little wider for special occasions,” Roerink said. Retailers can also “self-invent” holidays such as “Lobsterfest” — “great times to “reconnect people with crab and lobster,” she said.”  

Read the full article here.

📈 EU: Rising food prices 

While lobster and crab prices may have fallen recently in the USA, European food prices have grown quickly over the past year, including a rise of around 13 percent for seafood. The New York Times reports on the drivers of EU food inflation here.   

🦀 China: Live crab exports  

ABC News tells the story of Queensland-based Fraser Isle Spanner Crabs gearing up to return to the China market with their live product. Read more here.  

Andre Gorrisen hopes to resume spanner crab exports to China.(Supplied: Andre Gorrisen)

🍴 China: Food and beverage trends 

Daxue Consulting takes a look at China’s food and beverage market, with a focus on e-commerce retail, which is expected to exceed US$1 billion in 2023.  

According to the post, “As part of this trend, the premium seafood market is experiencing growth, and luxury seafood products are becoming increasingly accessible. Imported products are particularly in demand in this sector, which presents an opportunity for foreign seafood brands to enter the market.” Read more here.  

🐟 Japan: Fisheries production at record low 

The Japan Times writes that Japan’s 2022 seafood production fell 7.5% from a year earlier to a record low 3.85 million tonnes: “The total, which includes farm-grown fish, was the lowest figure since comparable data became available in 1956 and marked a second consecutive year of decline, according to the data released by the Ministry of Agriculture, Forestry and Fisheries.” 

Read more on The Japan Times website here.  

Saury landed at Hanasaki port in Nemuro, Hokkaido, in November. The saury catch in 2022 slipped 5.6% from the previous year to 18,400 tons. | KYODO

⚠️ Reminder: Australian Export Awards 

Applications for the Australian Export Awards are closing soon. According to Austrade, “no organisation is too big or small. Any Australian business with an active ABN and earning foreign exchange can apply.”  Applications close 9–14 June (depends on state/territory).  

Visit the website to find out more here.  

🥇China blog post: Australian seafood power rankings 

A Chinese study abroad website has published a list of Australia’s top seafood delicacies. Some curious inclusions in the list and a controversial omission, but the top spot winner is clear: “This seafood, known as "Lobster King", grows in the waters of South Australia and is a local specialty.” Read the blog here (Chinese).  

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 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.