The Golden Pomfret stands out as a highly sought-after and anticipated commodity within the market. It is highly demanded in China and various South-East Asian nations. At one point, its price surged to an extraordinary $4.3 per kilogram for sizes 400 up, significantly surpassing the typical market tolerance levels. This atypical market scenario can be attributed to an exceptional event – Typhoon Chaba in 2022. Let’s talk about Golden Pomfret 2023 news!
2023 Typhoon effects
In July of 2022, Typhoon Chaba, a formidable cyclone with an intensity level of 12 (equivalent to 35 meters per second), made landfall in the coastal region of Guangdong, China. The tempestuous winds and massive waves assaulted the Yangjiang area’s cage breeding facilities. The breeding base housed over 600 deep-water cages, and the impact of the powerful winds and waves caused significant deformation to the outer cages.
The effects of the typhoon reverberated through Yangxi’s deep-water cage aquaculture, leading to substantial losses for the farmers. According to preliminary estimates from the County Agriculture and Rural Bureau, the typhoon’s impact resulted in damage to over 600 net cages in Yangxi County, leading to a loss of nearly 7 billion yuan.
2023 Golden Pomfret Situation
Fast-forward to 2023, as Typhoon “Taili” approached, the Guangdong. Ocean Ranch took proactive measures to mitigate its potential impact. They Focused on rapidly harvesting 1.29 million catties of golden pomfret from. In anticipation of the typhoon, the Guangdong Haiwei Agricultural Group proactively relocated its staff to secure their well-being. The marine farming platform “Haiwei 2” employed AI technology, water quality systems, and underwater cameras for continuous operations embraced for typhoon.
These preparations facilitated the successful harvesting of 1.29 million golden pomfrets from the gravity deep-water cages by noon on the 16th. Both “Haiwei 1” and the newer “Haiwei 2” were engineered to withstand level 15 typhoon conditions. “Haiwei 2” confidently demonstrated its wind resistance capabilities following successful testing against a level 12 typhoon after its launch in April 2022.
However Haiwei was is not the only farming station. Less advanced companies faced the significant impact of the typhoon on Golden Pomfret in 2023. Following the typhoon’s impact, golden pomfret raisers temporarily ceased offering prices to assess damages and project future prices.
Despite the damage, the early harvest ensured a remaining stock. Nevertheless, larger-sized golden pomfret is and anticipated to be in limited supply. While the full extent of the damages is yet to be calculated, Chinese media coverage indicates quite serious imprecations.
How it effects market
Ocean Treasure engaged with these raisers to obtain firsthand information. Although other regions continue to cultivate raw materials, their availability on the market in September will be constrained, especially when compared to Guangdong’s total capacity. Given the substantial demand from China, Southeast Asia, and even a few European countries, it is unlikely that prices will decrease in the foreseeable future.
Ocean Treasure is offering sizes ranging from 300 to 400 for its clients. Larger sizes, such as 400-600 and 600-700, are scarce and come with a significant price gap compared to smaller sizes. A mixed combination of 300-400-500 sizes can be mixed in one container. Sizes of 700 and above are only available from the previous season and are extremely limited in quantity.
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