December 5, 2023


Global seafood supply predicted to rebound in 2024, says Rabobank analysis



Amidst a year of disruptions, the global seafood supply is poised for a resurgence in 2024, with key aquaculture sectors showing signs of recovery after a tumultuous 2023, according to Rabobank, SeafoodSource reported.


According to the report titled "What to Expect in the Aquaculture Industry in 2024," Rabobank anticipates a rebound in worldwide shrimp production after experiencing a modest 0.4% decline in 2023.


The analysis suggests a growth of approximately 4.8% in shrimp production for the upcoming year, surpassing the peak volumes observed in 2022. However, it notes that Ecuador's shrimp production may exhibit a lower year-over-year growth rate, citing potential risks associated with El Niño effects.


The report highlights the possibility of heavy rains leading to increased flooding risks and potential damage to pond infrastructure in the country.


In addition to the positive outlook for shrimp, the report suggests a likely rise in global salmon harvests in 2024 after two consecutive years of either flat or declining yields. Various farmed whitefish sectors are also expected to witness an upturn, contributing to the overall recovery of the aquaculture industry.


The report also highlights the optimism among Asian shrimp producers, projecting a return to growth levels of around 4% in 2024 after experiencing its first decline in a decade during 2023.


The report was published by RaboResearch, the research unit of Dutch financial services company Rabobank, and supported by the Global Seafood Alliance.


-      SeafoodSource

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