One-third of Chinese processing capacity is idling this summer, according to Unibond Seafood exec

Published 2024년 8월 9일

Tridge summary

Seafood processors in China are cutting their production by at least 30 percent this summer due to weak demand from Europe and the U.S., as reported by David Jiang of Unibond Seafood International Ltd. Chinese consumers are also not showing interest in products like cod, haddock, and pollock. Additionally, imports of pollock from Russia to China decreased by 3 percent in the first half of 2024, with Russian fishing companies redirecting exports to China and Japan because of U.S. sanctions. This redirection has led Russian pollock catchers to focus more on their domestic market, a development welcomed by the U.S. pollock industry as it could raise global prices by reducing the availability of Russian pollock.

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

Original content

Seafood processors in China are shutting down processing capacity this summer due to slack demand from key buyers, according to a leading seafood trader. “All processors are reducing production capacity by at least 30 percent,” said David Jiang, managing director at Unibond Seafood International Ltd., which sources seafood in China for European customers. Jiang said processors in China are “facing difficulties due to weak demand in Europe and the U.S.,” while Chinese consumers are proving a difficult sell. “Some processors are trying to develop the domestic market, but the products they process, like cod, haddock, and pollock, do not suit Chinese consumers,” Jiang told SeafoodSource.Jiang said imports of pollock – China’s top seafood import item from Russia by volume – fell 3 percent in the first half of 2024. “Russian fishing companies are exporting more surimi and single-frozen pollock blocks to China and Japan due to U.S. sanctions,” he said.With demand from Chinese processors ...

Source: Seafoodsource