Grouper farming growth rate in China outstripping all other species

Published 2024년 11월 28일

Tridge summary

Grouper farming in China has seen consistent growth, with output reaching 241,000 metric tons in 2023, marking an 11% compound annual growth rate over the past decade. This contributes to China's overall aquaculture production growth of 4.4% in 2023. However, the industry faces risks as it is heavily dependent on the Chinese hotel and restaurant sector for sales, which could be impacted by changing economic conditions or supply and demand volatilities.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Grouper farming is outstripping the growth rates of any other aquaculture species in China, according to recent government figures.Grouper output totaled 241,000 metric tons (MT) in 2023, according to data compiled for this year’s edition of the China Fishery Statistical Yearbook. This growth is a continuation of a long trend, according to the yearbook, as grouper farming volumes have grown at a compound annual growth rate of 11 percent over the past decade.The yearbook found Chinese aquaculture production grew 4.4 percent in 2023 to 58.1 million MT.Though grouper farming has seen consistent growth in the country, a research note produced by IFFO - The Marine Ingredients Organization for its 2024 annual meeting found it has mainly relied on one sector to boost its sales: the Chinese hotel and restaurant sector, making demand vulnerable to changing economic conditions.“The reliance on a single consumption channel makes it challenging to effectively deal with volatilities in supply ...

Source: Seafoodsource