China's aquatic production in 2012 is forecast at 58 million tons, up four percent from 2011, due to gains in aquaculture growth as wild catch production remains stagnant, according to USDA Foreign Agricultural Service.
Fishery production challenges include: slowing investment, environmental concerns and coastal development limiting resources for aquaculture expansion, scarce resources restrain growth for wild catch numbers, and processing (with imported material) for re-export facing rising production costs and loss of competitivity.
Rising affluence is raising domestic demand for alternative protein sources, including aquatic products, but weak overseas economic conditions challenge export growth. Total aquatic trade value is expected to rise to an estimated $27 billion in 2012 from $25.8 billion last year and produce a $10 billion surplus.
US exports to China of aquatic products increased to $945 million in the first ten months of 2012, up 1.6 percent over the same period in the previous year. China’s aquatic exports to the United States climbed to $2.3 billion in the first ten months of 2012. Imports for domestic consumption face high import duties and value added tax. Prospects remain strong for US salmon, frozen fish and fish meal.
Source: USDA Foreign Agricultural Service