The European Market Observatory for Fisheries and Aquaculture Products (EUMOFA) recently released its annual report on E.U. seafood trends, focusing on and analyzing finalized data for 2023, which found fish prices rose across the E.U. in 2023.
According to the report, titled “The EU Fish Market – 2024 Edition,” E.U. household expenditures on seafood reached EUR 62.3 billion (USD 65.4 billion) in 2023, representing a 6 percent increase on the previous year and continuing an upward trend that began in 2018. By comparison, E.U. households spent EUR 247 billion (USD 259.2 billion) on meat products in 2023.
This led to at-home consumption of seafood falling in the bloc, and trade both inside and outside the E.U. responded in kind by also dipping in 2023. The report outlined that the bloc’s trade of fishery and aquaculture products decreased 4 percent by volume, and 2 percent by nominal value in 2023.
E.U. seafood imports from third countries decreased 6 percent by value from 2022’s totals to EUR 30.1 billion (USD 31.6 billion), while imports by volume decreased 3 percent to 5.9 million MT – plunging both totals below pre-pandemic levels.
E.U. exports to third countries, meanwhile, totaled EUR 8 billion (USD 8.4 billion) – a 1 percent increase from 2022 – while exports by volume fell 3 percent to 2.2 million MT.
Intra-E.U. seafood exchanges amounted to 5.8 million MT of seafood worth EUR 31.8 billion (USD 33.4 billion).
The report explained that the 2023 trade figures marked a shift from the significant value growth observed in 2022 …
