May 21, 2008

China's seafood exports to the US drop by 12 percent in Q1

Chinese seafood exports to the US market dropped by 12 percent in value and 17 percent in volume in the first quarter of the year against 2007 figures, the Chinese customs said.

From January to March of 2008, export volume dropped from 119,520 tonnes to 99,006 tonnes, while export value dropped from US$409,790 to US$359,688.

The Q1 exports show the first negative growth trend in China's seafood sales to the US.

The impact of US restrictions on Chinese seafood products was cited as the main reason behind the weak exports.

In February, there was a sharp drop of exports from 43,130 tonnes and US$148 million in 2007 to 29,759 tonnes and US$110 million in 2008.

The sharp drop in February was blamed on the bad weather which has caused a loss of 870,000 tonnes of fish and fishery products in the south of China with tilapia, catfish and many other farmed species as the most affected categories.

The US is a significant market for the Chinese seafood, accounting for around 15-20 percent of all seafood exports from China annually.

Meanwhile, there has been strong growth in the import of US seafood into China, with imports in the first quarter reaching 55,888 tonnes and US$95 million, up by 21 percent in volume and by 25 percent in value on-year.

Frozen squid, frozen fish and fishmeal are the major product categories imported. Except for fishmeal which is imported for local aquaculture, the other products are mainly used for re-exports after processing in China.