Tridge summary
In the second quarter, China's import of frozen Pacific cod from the US reached a high since Q2 2018, while the export of frozen Alaska pollock from the US also hit a record high since Q1 2012, with a significant amount exported to China. This surge in trade is largely due to the Russian seafood ban, which has led to increased demand for these fish species. However, the long-term effects of the ban are controversial within the industry. The price of wild white fish raw materials has seen a significant increase due to trade sanctions and US exporters, leading to higher supply chain costs that are expected to be passed on to consumers.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Data from the UCN trade portal show that China imported more than 30.8 million pounds (about 14,012 tons) of frozen Pacific cod from the United States in the second quarter, setting a new high since the second quarter of 2018. In addition, the United States exported 47.5 million pounds (21,551 tons) of frozen Alaska pollock in the second quarter, the highest since the first quarter of 2012, of which 366.19 million pounds were exported to China. Although the Russian seafood ban has stimulated the export of cod and pollock from the United States, the long-term impact of this ban on the market has been controversial in the industry and has never stopped. Now, the call for a Russian seafood ban has even expanded to the European Union and other Asian countries such as Japan. Some EU aquaculture ...
Source: Foodmate
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