EP 612 | AIRED 10/24/2022
Russia Container Shortage, China Production Capacity, EU Sales Slowed
Oct 24th, 2022 - Russian companies are said to be having big problems shipping products out of the country due to a shortage of containers mainly from steamship lines not going to Russia anymore.
They were previously able to use trampers to ship to Norway and Netherlands (then onto larger vessels to China), however trampers are now hard to locate.
It’s still unknown what will happen to all the products in the country, however even before the war, Russia had been working to increase its domestic consumption.
--- Production capacity in China is still about 40 to 50 percent less than before COVID, and a raw materials shortage is just one of many contributing factors.
Raw materials from February to September going into Dalian from both Russia and Alaska is about 120,000 metric tonnes - and is estimated at 180,000 by the end of the year.
Prior to 2019, this number was 3 times more.
--- Even though production capacity in China is down, demand for products from Europe and North America are still stronger than China’s current maximum output.October is National Seafood Month!
With that said, sales from China to the EU and North America have shown some signs of slowing down - which could be a reaction to the current economic landscape that is dividing economists on whether the U.S. is actually in a recession - or not.
This is a developing story as we continue to gather updates from China so keep tuned-in by subscribing to the Tradex Foods "3-Minute Market Insight"
Let's celebrate by raising the profile for seafood through purchasing more sustainable seafood, educating on all the natural health benefits of seafood, and recognizing that seafood is one of the last wild caught foods on earth.
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