The volume of seafood traded in China’s wholesale markets rose by 4.69 and the value increased by 5.76 percent, respectively, in 2017. However, price growth slowed down compared to 2016, according to a survey of 80 seafood wholesale markets by China’s Agriculture Ministry.
A total 11.45 million tons of seafood were sold in 2017, worth CNY 229 billion (USD 36.2 billion, EUR 29.4 billion), data from the ministry revealed.
Prices for seawater seafood products stayed flat year-on-year, while there was a 2.6 percent rise in prices for freshwater products. In 2016, seawater species rose by 7.3 percent in price, while freshwater species experienced a 2.7 percent year-on-year increase.
The one to two percent growth in prices in 2017 slowed compared to 2016, when average seafood prices climbed 5.3 percent over 2015
It should be noted, however, that seafood prices and demand in China are impacted by China’s highly cyclical pork prices. There was a surge in carp prices of 11 percent in 2016 as lower-income consumers switched from pork. But pig prices have remained in a trough since early 2017.
