China Seafood Report November 2021. The Chinese seafood market is facing challenges in the export market and import markets. The raw material, production, and shipment situation had a big change during the last two months. Ocean Treasure will have an outlook based on our webinar at the China Fishery & Seafood Expo and summarize the actual situation in China.
Production situation affected
From September, China started the electric power control, which had an effect on the production of the reprocessing factory. In the north part of China, some factories had to close four days a week. So the production of seafood products is reduced significantly for those which produce fillet, the portion with different treatment. As a result, the order will take longer to arrive since one container will take more time.
China seafood November 2021
Raw material situation
Vannamei – China seafood November 2021
For the import of raw material situation of the reprocessing factories, vannamei demand is still high but many factories now are importing raw material according to their storage situation. They don’t want to store too much raw material since the cost of storing it is also limited due to the electric control. The catching season of vannamei in China is over, so the vannamei demand will meet at a high level for the late two months before the Chinese New Year. Otherwise, Indian Vannamei focuses more on the EU market and the USA market for Christmas purchases. So, the price is still increasing for the raw material coming to China due to the supply.
Tilapia – China seafood November 2021
For tilapia, the raw material situation is still fine. But the orders are mostly full before the Chinese New Year for fillet products. The reasons are 1. The demand for tilapia is still strong in the USA, Latin America, and the EU for fillet 2. The electric control limits the product. These days, the tilapia price is also increasing. But for the whole round and GS products, there is still some space to order. The north part of China is hitting extreme weather, which could be a challenge for tilapia farming. Many tilapia fish will process into GS, and the volume is available. For the orders after the Chinese New Year, factories are still hesitating to offer the price since they think the price will increase after the Chinese New Year.
Alaska pollock – China seafood November 2021
The Alaska pollock product suffered a lot in 2021. The raw material has difficulties arriving in China, and since the breakout of the covid case in Dalian again recently, the apo factories mostly shut down, and hard to offer any price in the north part of China. Ocean Treasure can still work on it and provide some limited offers, but they are at a high level.
For Freight – China seafood November 2021
In the last two months, the freight cost from China is finally stable. Compared with $20,500 in early September, now the freight cost is $18,700 from China/East Asia to North America West Coast. From China/East Asia to North Europe, the price stays the same as the early of September $14,000.
Since 2022 Chinese New Year is the 1st of February, the time for importing products from China is very limited. Plus, the preparation for a single container takes much time, we better hurry to quote because usually, the factories will close in the early or middle of January. There is almost one month gap for the Chinese New Year, so after the Chinese New Year, the demand will stay at a high level, driving the price increase. (China Seafood Report November 2021 by Ocean Treasure)