Increased value of seafood
According to a recent report by Rabobank, the global seafood trade has seen a steady yearly growth since 2012 to reach an estimated value of USD 153bn. While the volume traded has been somewhat consistent, the value has increased. This is caused partly by an increased demand for high value crustaceans and salmon – aquaculture products that demand quality fishmeal and fish oil.
In respect to trade volume whitefish is still the most traded commodity, mainly due to China’s big export and import.
EU is still the largest importer of fish and shellfish in the world with an annual import value of more than USD 25bn and a production deficit of fish products of almost 6 million tons. Salmon imports from Norway is the largest trade flow in the world in respect to value. On the other hand, a great part of EU’s exports are fishmeal and fish oil to Norway.
On a global scale the biggest trade in volume is the export of fishmeal and fish oil from Peru to China, which helps to support the large aquaculture industry in China and Asia. Higher prices on fishmeal and fish oil has increased the value of this trade on a global scale.
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