EP 209 | AIRED 11/17/2014
2014 China Seafood Expo Sets Records; Northern Shrimp Fishery Consecutive Moratorium
November 17th, 2014 The 2014 China Fisheries and Seafood Expo was held in Qingdao China from November 5th to 7th, and we are hearing positive feedback from vendors, customers, and the organizers too.
This year's show was about 20 percent larger than last year and over the past six years the Expo has more than doubled in size overall.
It is now considered the second largest seafood trade fair in the world.
During the economic recession, North America and Europe struggled to keep their seafood markets afloat, allowing China to develop a strong domestic Asian market.
To demonstrate the strength of the domestic Asian seafood market, one Chinese supplier told us they purchased a large amount of Yellowfin Sole last year, of which over 55 percent remained in Asia and was not re-exported.
China has now begun to sell to markets like Indonesia, Thailand, and Cambodia. As a result, the China Fisheries and Seafood Expo is predominately attended by customers and vendors from Asia.
Only about 15 percent of the attendees are from Europe and North America, a stark difference for sure.
Next year the show will also be held in Qingdao, but will be at a bigger location, farther from downtown. The new exhibition hall is sure to draw a big crowd next November.
--- In other news, last week the Atlantic States Marine Fisheries Commission approved a two-year consecutive moratorium for the commercial Northern Shrimp Fishery in the State of Maine.
As you may recall from our previous shrimp episode in July, the East Coast Shrimp Fishery has had immense concerns over biomass in recent years.
The 2013 quota was severally cut and last year’s landings declined to 335 metric tonnes, representing about 54 percent of the TAC set by the Atlantic Commission.
As a result, supply is extremely tight now.
Prices for Northern Shrimp have easily increased by over $2.00 / LB over this time last year, but customers who want to stock up until the spring have been paying the premium.
Some vendors are even purchasing West Coast Production from the Oregon State Fishery in order to fill orders for customers, this is practically unheard of.
For the West Coast suppliers, it is now even more difficult to locate product with the increased demand across the continent.
--- Our suggested buy of the week is for Sinbad Pollock Fillets - both the 2-4oz and 4-6oz sizes are $1.28 / LB FOB Boston for a minimum order of 2000 lbs.
Give your Tradex Foods Rep a call to take advantage of this great deal.
---Thanks for joining me for the Tradex Foods
"3-Minute Market Insight"
This is Rob Reierson - “BUY SMART” and “EAT MORE SEAFOOD”
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