China's Fish Trade Breaks a Record

China's combined foreign fishery trade reached US$ 15.24 billion in 2008, according to Infofish.

With a 9.15 per cent increase in the export value compared to 2007, the country exported $ 10.11 billion worth of fish and seafood in 2008, consisting 99.95 per cent edible products. Although the export volume fell by 12 per cent from 2.95 million metric tons in 2007 to 2.83 million metric tons in 2008, it was augmented by higher revenue from the exports of prepared fishery products, which increased by nearly 37 per cent in quantity and 49 per cent in value of the total fishery exports in 2008.

Import trend for domestic consumption was comparatively slow last year. Seafood consumption during the Chinese New Year (January-February 2008) celebration was seriously affected by the severe cold weather condition during that time.

The economic slow-down and increasing urban unemployment have also influenced the market negatively for imported fishery products. Many have turned to the cheaper locally produced fish. Nonetheless, fishery imports also increased last year into China with a total import volume of 3.71 million metric tons valued at US$ 5.12 billion as reported by the China Customs.

According to Infofish, imports of fish meal bounced back to a record level of 1.35 million metric tons, supplies of food fish increased marginally (+1.7 per cent) from 2.34 million metric tons in 2007 to 2.369 million metric tons last year.