Resurgent demand in China is offering some hope to Irish crab exporters suffering from the impact of weaker buying power in key European markets.
Ireland’s national broadcaster RTE reported recently that a severe drop in demand for Irish brown crab in southern Europe has resulted in a 40 percent reduction in income for Irish crab fishers, according to a report from RTE, Ireland’s national broadcaster.
“Crab processors are expecting a challenging year in core European markets as the 2024 season commences for live and processed crab,” Bord Iascaigh Mhara Development and Innovation Director Richard Donnelly told SeafoodSource.
Economic issues have resulted in customers having less disposable income, and this is reflected in lower export prices, Donnelly said.
“Similar to last year, buyers are slow to commit to volumes for the summer period,” Donnelly said. “Processors have cleared stocks from last year; however, due to adverse weather, stock levels are currently down on previous years but are expected to increase over the coming weeks.”
The situation appears to be improving, as Eurostat Q1 2024 trade revealed overall exports of crab from Ireland increased by 15 percent in value, though the average per-kilo price fell 14 percent year over year. France remained the key market for Irish crab, accounting for 34 percent of market share, followed by China at 20 percent and Spain at 16 percent.
Exports of Irish live crabs to China were disrupted in recent years over discrepancies in Irish and Chinese testing standards for cadmium traces in shellfish. However, Q1 2024 sales of processed and live crab from Ireland to China increased by 165 percent over the same period in 2023.
Donnelly said there is cautious optimism among Irish crab shippers regarding the Chinese market as demand for processed crab has increased and the live market is now open again.
“This is reflected in [Irish] exporters returning as exhibitors in seafood shows in Shanghai and Hong Kong and participation at the key Qingdao seafood show,” he said.
