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The situation is not optimistic as the export value of all three categories decreased Firstly, according to the latest statistics from Marketing, China's export value of primary aquatic products (03 items) in the first half of 2023 amounted to US$5.16 billion, down 20.0% from US$6.19 billion in the same period last year. Among them, the export value of five major exporting provinces, including Shandong and Fujian, subtotaled to US$4.73 billion, down 21.4% from US$5.75 billion in the same period last year. Considering that the global epidemic has passed and production and logistics have returned to normal, such a drastic decline is very rare.

The North Pacific Fishery Management Council (NPFMC) just held its annual meeting and set specific quotas for the U.S. Alaska capture fishery for 2024, with a slight upward adjustment to the pollock quota and a significant upward adjustment to the true cod quota.

Prices for yellowfin tuna for December delivery continue to fall in several regions, driven by weak demand in Europe. Weak demand in Europe has led to low prices, as has skipjack tuna. The European canned tuna industry is going through a difficult period characterized by a challenging marketing season.

Wakame is one of the main types of edible seaweed. This sea vegetable is widely used in Asian cuisine, most often in soups and salads or as a side dish to seafood. China has a large source of seaweed farming and exports large quantities of wakame salads to the world. Wakame is one of the green and healthy foods of the 21st century.

Recently, the European Union Market Observatory for Fisheries and Aquaculture (EUMOFA) released its annual report "EU Fisheries Markets", which provides a comprehensive analysis of the state of fisheries and aquaculture in the EU. Highlights of the report are summarized as follows.

In 2023, China's squid import and export trade situation changed month by month, with imports increasing significantly in the first half of the year, while exports began to decline from the second quarter, the average monthly trade surplus narrowed, and consumption pressure in the domestic market is rising.

The European Union formally confirmed on Monday that it will exclude Russian and Belarusian fishery products from the next version of its autonomous tariff quota (ATQ) scheme, which will come into force in January, including Russian-origin fish products processed in China. The proposals were first made in September and the current ATQ scheme expires on 31 December. The council unanimously set quotas for 2024, 2025 and 2026 for certain fish products on 27 November.

The surimi market is one of the fastest growing markets in the global seafood industry. Surimi is a type of seafood made from minced fish or molluscs, which is used as an ingredient in various dishes. The growth of the surimi market is driven by various factors such as changing dietary trends, growing demand for seafood products, and increasing popularity of processed seafood products.

In October 2023, China oceanic squid index dropped slightly at a high level to 165.04 points, down 1.04% sequentially, compared with the same period of last year, the index is still located at a high level, up 3.66% year-on-year. Analysed, in 2023, the El Niño phenomenon led to an increase in seawater temperature, which affected the growth, development and reproduction of squid, and this year's squid catch appeared to be reduced compared with that of the previous year, so the overall China Pelagic Squid Price Index was higher than the level of the previous year.

China's State Council Information Office released a White Paper on "China's Pelagic Fisheries Development" on 24th, pointing out that China's aquaculture output has ranked first in the world for 32 consecutive years, becoming the world's largest aquatic product processor and exporter, and making a positive contribution to guaranteeing the world's food security.

The increase in demand for healthy food has led to a corresponding increase in demand for squid, which first led to the overall upward movement of China's ocean squid price index, which has been at the same level as the same period last year for many consecutive months.