China's pollock stocks dwindle as imports fall significantly

Published 2024년 4월 16일

Tridge summary

In early 2023, China experienced a notable decrease in its imports of frozen raw pollock, particularly in January and February, compared to the previous year. This downturn is attributed to policy changes, including the US's impending ban on Russian seafood by June 2024 and a new EU tariff on Russian pollock products. Despite these international pressures, China's imports from the US have seen an uptick, though Russia remains the dominant supplier. Concurrently, there's been a decline in China's exports of processed pollock products, hinting at reduced inventories. Market reports from northern China confirm limited pollock stocks, with a minor price increase for Russian pollock. The article underscores the significant impact of global policies on China's pollock trade and the adaptive measures taken by its manufacturing sector.

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

Original content

According to the country's customs, the volume of imports of frozen raw pollock (HS code 03036700) in January and February amounted to 77,768 tons, which is 14.5% less than in the same period last year (91,056 tons). Trade portal Undercurrent News, which only has data for January as the International Trade Center lags behind Chinese customs, shows imports for the month totaled 17,304 tonnes, down 43% from last year. In 2023, China's pollock imports fell 3% to 598,535 tonnes. On December 22 last year, US President Joe Biden announced a complete ban on all Russian seafood, including those processed in third countries but originating in Russia. The ban will take effect on June 1, 2024, and until June only orders for Russian fish placed before December 22 will be able to enter the United States. On January 1, the EU introduced a 13.7% tariff on Russian pollock products, which include double-frozen fillets and blocks processed in China. All these policy changes have led to an ...

Source: Fishretail