STAG News Bites
The latest seafood news from China and other key global markets for Australian Exporters.
20 April 2023
STAG News Bites: 🍽️Korea recipe competition; 🤝China trade talks progress; 💹Vietnam premium imports
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 recipe competition
Seafood Industry Australia, as part of the Australian Food & Wine Collaboration Group, is sponsoring a recipe competition ‘to publicise the excellence and safety of Australian food ingredients and Australian wine to the Korean public.’
Entrants must design recipes that incorporate Australian meat, dairy, seafood, or fruit/vegetables/ nuts to have a chance at the grand prize: a round trip to Australia and one million won. Read more here (Korean).
🤝 China: Official trade talks progressing
Agriculture Minister Murray Watt hosted a delegation from China’s Ministry of Agriculture and Rural Affairs led by Vice Minister Ma Youxiang earlier this week in Canberra. Read the Minister’s media release here.
Trade Minister Farrell has said he hopes to visit China in the coming weeks to resolve trade blockages:
“If that means going to China a few times, well that’s what we will do. If it means sending more officials up there to work through particular problems, or their officials coming down to inspect abattoirs or going down to Robe in South Australia and having a look at the terrific conditions in which we produce our crayfish, then we are going to have to do that.”
The Minister spoke to The Guardian here, and the Australian Financial Review here (login may be required).
Chinese perspectives from The China Daily here, Xinmin News here (Chinese), and Global Times here (Chinese).
In another positive sign for the recovery of trade ties, a delegation of Australian businesses, including HSBC Australia, Telstra, ANZ, Rio Tinto, Cochlear, Fortescue and King and Wood Mallesons, plans to visit China next week. Read more in the Australian Financial Review here (login may be required).
Source: Ministry of Foreign Affairs website
💹 Vietnam: Premium seafood consumption rising
Seafoodsource.com reports on the growing middle-class appetite for premium seafood in Vietnam. The country is now a top ten global importer of seafood products. While most of this is destined for the domestic processing and re-export industry, a growing volume of premium and live product is being consumed locally. Read more here.
📦 China: Consumer packaging insights
A China Consumers Association survey revealed that 80.7% of respondents were against overpackaging, with 88.1% preferring simple packaging for their personal purchases. Chinese consumers are becoming more eco-conscious, leading to a rise in sustainable consumption, waste sorting, and eco-friendly initiatives such as purchasing reusable and biodegradable products. Read more from Daxue here.
⚛️ Japan: Fukushima waste water issue and seafood trade
According to eco-business.com, a new computer-modelled econometric study shows the Fukushima waste water issue will have wide-ranging impacts on global seafood trade patterns. The modelling predicts that, as Japan’s exports and imports fall, other suppliers and buyers will step in to fill the role. Read more here.
However, despite consumer and official concerns about waste water contamination, recent figures from South Korea reveal a jump in imports of Japanese seafood. Read more here.
🥒 Philippines: Plan to scale sea cucumber production
An ambitious young Australian is on a mission to grow sea cucumber at scale in the Philippines and market them to affluent Asian consumers. Read more on The Fish Site here.
Image: The Fish Site
✈️ Supply Chain Snapshot available now
Austrade’s Export Supply Chain Service (ESCS) has published another edition of the Export Supply Chain Snapshot. Find it on the ESCS website here.
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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.
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