Prices Surged Strong Before Peak Season
Golden pomfret is well known for being non-fishy tasting fish. It has a flat shape, subtly sweet taste, and firm texture. Moreover, golden pomfret is a high-quality fish with rich nutrition and high content of DHA and EPA. Lacking an intramuscular spine, it is a safe and suitable choice for elderly consumers and children alike.
Golden pomfret is one of the most farmed fish in China. Since successful innovations in artificial breeding in 2002, the large-scale production of golden pomfret has been implemented, and the breeding industry has developed rapidly. The main producing areas are Hainan, Guangdong, Guangxi with smaller scale operations in in Fujian.
According to the China Golden Pomfret Industry Development Report, the cultivation of golden pomfret in China reached 168,000 tons in 2019, 200,000 tons in 2020. In 2021, due to the poorer breeding situation, the fish specifications are relatively small, the 2021 yield being around in 180,000 tons, close to the chief forecast in 2020 data. At present, the combined annual output value industries of golden pomfret exceeds CNY 20 billion.
This year, the breeding projections of pomfret are not optimistic. It is estimated that the amount of seeding may decrease by 40%. Farmers have been losing money for 2 years in a row. The reasons are varied, insufficient funds, the impact of the epidemic, the increase in feed prices and feed companies’ feed control. The amount of seedling investment is expected to decrease by more than 40%. Influenced by aquaculture industry, the seedling industry is struggling as well. the price of golden pompano eggs has plummeted this year, falling more than 80%.
Ocean Treasure, the seafood expert based in China for 15 years, is exporting golden pomfret mainly to the USA, Canada, Southeast Asia, Middle East, and the European Union. This week, the price of golden pomfret increased sharply over last week due to the shortage of raw materials. For the following peak season, now is the best time to purchase golden pomfret as prices are expected to only increase further. The price may show a tingle of fluctuation during the new season. Although the new season is August, but the less amount of seedling and low survival rate will maintain its climb of price.
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