Russian exporters may occupy niche fish markets in China

Published 2024년 9월 17일

Tridge summary

China is set to become the world's largest importer of fish products, surpassing the United States, with purchases reaching $18.76 billion in 2023, which was 10% of global aquatic animal trade. Russia is a significant supplier to China, accounting for about 50% of Russian exports and 15.5% of total Chinese imports. The market is expected to grow, potentially reducing China's role as an intermediate for deliveries to Europe and the United States. This could increase the supply of Russian fish products for domestic consumption in China but also require effective marketing. There are also prospects for the development of niche markets in China for products like surimi, pollock caviar, ivasi sardine, and fish meal for aquaculture.

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

Original content

Today, China is already the largest importer of fish products after the United States. In 2023, the volume of purchases amounted to $18.76 billion - 10% of the entire world trade in aquatic animals. According to experts' forecasts, in the coming years, China will overtake the United States, becoming the main importer of fish products in monetary terms, according to a report by the President of the All-Russian Association of Fishery Industrialists (VARPE) German Zverev for the Federal State Budgetary Institution "Agroexport". The Chinese market is important for Russia, the expert notes - in 2023, it accounted for about 50% of Russian exports, and the share of Russian fish products in the total volume of Chinese imports reached 15.5%. In the future, China will lose its role as an intermediate - processing - sector for deliveries to Europe and the United States, the expert believes, and its role as the largest consumer of seafood will grow. This opens up prospects for increasing ...

Source: Fishretail