EP 621 | AIRED 01/02/2023
China: COVID Rampant, Production Delays, Haddock Up, Pollock Down, Cod Strong, US Gov Pushing Flounder
Jan 2nd, 2023 - It is said that at least 40 percent of China is infected with COVID-19 as it has been spreading rampantly since the Government's big and abrupt COVID policy change in mid-December.
--- The peak of infections is expected during Chinese New Year as over 200 million people are to be traveling home then.
Over half of all fish plant workers are said to be COVID positive resulting in production delays leading up to Chinese New Year closures - and plant managers are anticipating this latest wave to endure for 2 months.
With most plants expected to close (for Chinese New Year) between January 10th and 20th, processors will most likely delay their orders and push them to after Chinese New Year.
Pollock Raw materials continues to see downward price pressure as plants are still not buying due to continued weak demand from EU and North America.
Pacific and Atlantic Cod pricing remain strong as product is still short and processors are anticipating pricing to remain strong into 2023 on the announcement of Cod quota cuts.
Haddock is said to be gaining popularity as the price is more competitive than Cod right now.CHECK OUT OUR #WhatsGood CAMPAIGN
Which Seeks To Spotlight Something “Good” Happening In The Seafood World As Opposed To Unfortunate News.
And lastly, plants in China are saying it seems like the US Government is trying to push US Flounder sales to China - especially on the back of the recent decision by the U.S. Trade Representative's office to extend China tariff exclusions.
Our recommendation is to partner long term with a seafood supplier that can secure products for you in an ever changing market.
Tradex Foods has well established food chain production capacity and partners in China, and have for over 20 years - Give us a call.
2023 may be looking like a year for permanent plant closures.
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