Grouper farming is outstripping the growth rates of any other aquaculture species in China, according to recent government figures.
Grouper output totaled 241,000 metric tons (MT) in 2023, according to data compiled for this year’s edition of the China Fishery Statistical Yearbook. This growth is a continuation of a long trend, according to the yearbook, as grouper farming volumes have grown at a compound annual growth rate of 11 percent over the past decade.
The yearbook found Chinese aquaculture production grew 4.4 percent in 2023 to 58.1 million MT.
Though grouper farming has seen consistent growth in the country, a research note produced by IFFO - The Marine Ingredients Organization for its 2024 annual meeting found it has mainly relied on one sector to boost its sales: the Chinese hotel and restaurant sector, making demand vulnerable to changing economic conditions.
“The reliance on a single consumption channel makes it challenging to effectively deal with volatilities in supply and demand, especially when large quantities of grouper hit the market collectively,” the note said. “The traditional consumption high season between June and September has been subdued this year compared with that of 2023 because of the withering catering service industry.”
The organization said that grouper is particularly vulnerable …
