US to give up fish import leadership to China in coming years – UN FAO

Published 2024년 9월 18일

Tridge summary

China is set to become the world leader in fish and seafood imports in the coming years, surpassing the United States, as reported at the VII International Fishery Forum. Currently, China is the top exporter of fish products globally. Internal demand for fish in China is expected to rise due to increasing wealth, with a shift towards more expensive, high-quality fish and seafood. Russian producers find profit in delivering to China's premium fish segment. However, the lack of interstate mechanisms between China and Russia for certain fish products, coupled with strict regulations and lack of duty-free trade agreements, poses challenges for Russian businesses in this market. The forum saw participation from over 25 countries and registration from 9.5 thousand participants.

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Original content

In the next few years of this decade, China will overtake the United States in terms of fish and seafood imports and become a world leader, whose market will have a decisive influence on global trade chains in the industry and pricing processes. At the same time, China already occupies the position of the main exporter of fish products in the world, which, among other things, processes imported raw materials, Oleg Kobyakov, Director of the UN FAO Liaison Office with Russia, told TASS at the VII International Fishery Forum. "So far, the leader in fish product consumption is the United States. In 2022, the United States accounted for about 17%, while China accounted for about 14%. Now the difference is leveling out, we expect that in the next couple of years, China will take first place as a world importer. At the same time, China already occupies a leading position in terms of fish product exports," Oleg Kobyakov said. He noted that several programs aimed at popularizing the active ...

Source: Kvedomosti