Trending Now

Building a Resilient Supply Chain with Advanced Predictive…

New Articles

U.S. States With the Largest Aquaculture Industry

Aquaculture
Archives, Global Trade Daily, Special Reports, State Spotlight

U.S. States With the Largest Aquaculture Industry

Leave a comment

With the planet’s population growing and the global market for seafood steadily increasing, natural fish production from the world’s lakes, rivers, and oceans will be insufficient to keep up with demand in the long term. To support global demand, aquaculture is a critical resource for raising seafood efficiently and sustainably.

The USDA defines aquaculture as the farming of aquatic organisms, including fish, crustaceans, mollusks, and more. The farming process includes seeding, stocking, and feeding fish, shellfish, and other aquatic products in a controlled environment. The controlled environment makes aquaculture distinct from wild caught seafood taken from a natural habitat.

Aquaculture in the U.S. represents a $1.5 billion industry annually and helps support 1.7 million jobs in the broader seafood industry, according to estimates from the National Oceanic and Atmospheric Administration. These figures place the U.S. relatively low on a global scale as an aquaculture producer—17th in total aquaculture production—but the U.S. is one of the top consumers of aquaculture imports. More than 90% of seafood in the U.S. comes from outside of the country, and around half of that total comes from farm-raised seafood.

These products in the U.S. that generate the most sales fall in the categories of food fish and mollusks. Food fish—a category that includes any fish raised primarily for food, such as catfish, sturgeon, tilapia, trout, or salmon—accounts for nearly half of the market by itself, with $716 million in sales each year. Mollusks—which are marine invertebrates like clams, mussels, and oysters also commonly raised as food—follow behind at $442 million sold each year.

Naturally, a successful aquaculture industry depends on access to geographic features that support production. This means that some regions of the U.S. are more conducive to aquaculture than others. The South leads the U.S. in production, with nearly $850 million in annual sales from aquaculture. This can be attributed to strong production of freshwater fish, especially catfish, in the areas around the Mississippi River watershed, and saltwater production in the Gulf of Mexico and Atlantic Ocean. The West produces $475 million in aquaculture sales each year, primarily from Washington and California, which are leaders in shellfish production but also have strong saltwater and freshwater production of fish like trout, tilapia, and salmon.

The data used in this analysis is from the USDA’s Census of Aquaculture. To identify the states with the most aquaculture production, researchers at Commodity.com ranked states based on the total value of aquaculture products sold. Aquaculture products include food fish, sport fish, baitfish, and ornamental fish, as well as mollusks, crustaceans, and other miscellaneous aquaculture products. The total acreage by state reported in this study is the sum of freshwater and saltwater production (where available), and the most common water source is the water source characteristic of the greatest number of farms in each state.

Here are the states with the largest aquaculture industry.

State

Rank

   Total value of products sold

Total number of aquaculture farms

Total acres

Most common water source
Mississippi    1    $215,709,000 176 39,561 Groundwater
Washington    2    $207,685,000 151 16,263 Saltwater
Louisiana    3    $135,712,000 525 240,274 Groundwater
Virginia    4    $112,640,000 202 17,797 Saltwater
California    5    $106,021,000 116 11,329 Groundwater
Alabama    6    $95,199,000 120 17,591 On-farm surface water
Hawaii    7    $78,429,000 49 794 Saltwater
Maine    8    $72,340,000 75 1,295 Saltwater
Florida    9    $71,649,000 334 3,410 Saltwater
Arkansas    10    $67,661,000 82 29,936 Groundwater
Texas    11    $62,594,000 107 7,566 Groundwater
Idaho    12    $44,763,000 41 498 On-farm surface water
Massachusetts    13    $28,858,000 180 1,046 Saltwater
Maryland    14    $28,139,000 43 2,318 Saltwater
North Carolina    15    $26,006,000 137 2,909 Groundwater
United States    –    $1,515,680,000 3,456 484,000 Groundwater

 

For more information, a detailed methodology, and complete results, you can find the original report on Commodity.com’s website: https://commodity.com/blog/aquaculture-production/

smoked salmon
Archives, Global Trade Daily, News

The European Smoked Salmon Market to Retain Gradual Growth Despite the Pandemic

Leave a comment

IndexBox has just published a new report: ‘EU – Smoked Pacific, Atlantic And Danube Salmon – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

The size of the smoked salmon market in the European Union contracted slightly to $4.4B in 2019 (IndexBox estimates), approximately equating to the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

The countries with the highest volumes of smoked salmon consumption in 2019 were Germany (39K tonnes), France (26K tonnes) and the UK (24K tonnes), together comprising 38% of total consumption. Italy, the Netherlands, Spain, Poland, Belgium, Romania, Denmark, the Czech Republic, Greece, and Portugal lagged somewhat behind, together comprising a further 45%.

From 2012 to 2019, the most notable rate of growth in terms of smoked salmon consumption, amongst the leading consuming countries, was attained by the UK, while smoked salmon consumption in France showed a mild contraction.

Moreover, exports in France are also decreasing for the second consecutive year. This is likely to be connected with the rising prices which make the product less competitive. Moreover, the volume of production is also decreasing, but the imports are rising, enabling the consumption volume to remain relatively stable. This makes a sign that cheaper imports are currently pressuring domestic production in France. Producers from Poland, Belgium and the UK, which are the largest smoked salmon supplying countries to France with rapidly growing volumes of supplies, seem to benefit from this trend.

Smoked salmon constitutes one of the popular fish products widely used for direct consumption and the production of bakery, pizza, snacks, and Japanese dishes. Since the use of smoked salmon is widely established, no sharp shift in consumption is currently expected. Population growth and rising incomes, which, in a broader context, reflect the overall GDP growth, are to remain key fundamentals behind the demand for smoked salmon.

In early 2020, however, the global economy entered a period of crisis caused by the outbreak of the COVID-19 pandemic. In order to battle the spread of the virus, most countries in the world implemented quarantine measures that put on halt production and transport activity, which undermined economic growth heavily throughout the world. Large-scale quarantine measures constitute the key disruptive factor, due to which production dropped across almost every industry and entire economic sectors are closed, such as catering, non-food retail, and personal services.

The shutdown of the HoReCa sector led to a significant decrease in the production of bakery and Japanese fish dishes, which overall depresses the demand for smoked salmon. Moreover, in the context of falling incomes, consumers primarily tend to exclude non-staple goods from purchases, which include smoked salmon. Thus, a sharp drop in household incomes is a powerful factor that will restrain the smoked salmon market in the medium term.

On the other hand, given the reduction in the number of visits to shops and malls, consumers started to cook more at home. This promotes the demand for food home cooking ingredients, as well as for ready-to-eat products. Smoked salmon fits those requirements as it is typically sold ready for consumption and it could be stored for a certain period of time.

Accordingly, retail packaging adapted to different consumption situations becomes more popular: family packages, single person packages of various shapes and dimensions, snack packages, etc. People are less likely to visit stores, therefore the packaging with increased capacity may become more suitable. Given the limitations of the HoReCa sector and the reduced number of visits to traditional malls and shops, online retail is becoming a more important channel for the sale of food products. Moreover, contactless delivery becomes a ‘must-have’ option for retail services.

The high dependency of the smoked salmon market on international trade means that the lower transport activity and the possible disruption of smoked salmon supply chains are serious threats to the market. Thus, smoked salmon imports dropped to $1.7B in 2019 (IndexBox estimates). The total import value increased at an average annual rate of +6.9% over the period from 2012 to 2019.

In value terms, Germany ($752M) constitutes the largest market for imported smoked salmon in the European Union, comprising 44% of total imports. The second position in the ranking was occupied by Italy ($292M), with a 17% share of total imports. It was followed by France, with a 11% share.

The smoked salmon import price in the European Union stood at $16,662 per tonne in 2019, shrinking by -5.8% against the previous year. Over the last seven-year period, it increased at an average annual rate of +3.0%.

Prices varied noticeably by the country of destination; the country with the highest price was Austria ($19,632 per tonne), while Denmark ($12,596 per tonne) was amongst the lowest. From 2012 to 2019, the most notable rate of growth in terms of prices was attained by France, while the other leaders experienced more modest paces of growth.

Major supply chain risk comes from the disruption of established international supply chains including food handling and packaging intermediaries, as well as the distributor sector. Supply chains may be undermined by asynchronous quarantine measures taken in the involved countries as well as the restraints in deliveries.

Given the pandemic-related limitation of the HoReCa and retail sector, the smoked salmon market is not expected to post any tangible gains in 2020. Afterward, the market is forecast to resume gradual growth, driven by gradual population growth and the recovery of the HoReCa industry. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.5% for the period from 2019 to 2030, which is projected to bring the market volume to 246K  tonnes by the end of 2030.

Source: IndexBox AI Platform

africa
Archives, Global Trade Daily, News

Africa’s Frozen Whole Fish Market – Nigeria Emerges As the Largest Market, with $488M of Imports in 2018

Leave a comment

IndexBox has just published a new report: ‘Africa – Frozen Whole Fish – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The value of the frozen whole fish market in Africa expanded markedly to $5B in 2018, jumping by 5.8% against the previous year. Over the period under review, the market size attained its peak level in 2018 and is expected to retain its growth in the years to come.

Exports in Africa

In 2018, approx. 1.5M tonnes of frozen whole fish were exported in Africa; increasing by 4.4% against the previous year. The total export volume increased at an average annual rate of +7.3% over the period from 2013 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The pace of growth appeared the most rapid in 2017 when exports increased by 11% against the previous year.

In value terms, frozen whole fish exports went up modestly to $1.9B (IndexBox estimates) in 2018. The total export value peaked in 2018 and are likely to see steady growth in the near future.

Exports by Country

Namibia (393K tonnes), Mauritania (287K tonnes), Morocco (284K tonnes) and Senegal (209K tonnes) represented roughly 76% of total exports of frozen whole fish in 2018. Seychelles (124K tonnes) occupied an 8% share (based on tonnes) of total exports, which put it in second place, followed by Angola (4.7%). South Africa (47K tonnes) followed a long way behind the leaders.

From 2013 to 2018, the biggest increases were in Seychelles, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish supplying countries in Africa were Mauritania ($302M), Morocco ($286M) and Namibia ($278M), together comprising 46% of total exports. Seychelles, Senegal, South Africa and Angola lagged somewhat behind, together comprising a further 37%.

Export Prices by Country

The frozen whole fish export price in Africa stood at $1,219 per tonne in 2018, approximately reflecting the previous year.

Prices varied noticeably by the country of origin; the country with the highest price was South Africa ($2,742 per tonne), while Namibia ($708 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by South Africa, while the other leaders experienced mixed trends in the export price figures.

Imports in Africa

In 2018, approx. 2.7M tonnes of frozen whole fish were imported in Africa; lowering by -1.7% against 2017.

In value terms, frozen whole fish imports went down modestly to $3B (IndexBox estimates) in 2018. The total import value hit record highs at $3B in 2014; afterwards, it flattened through to 2018.

Imports by Country

The purchases of the four major importers of frozen whole fish, namely Nigeria, Cameroon, Cote d’Ivoire and Egypt, represented more than half of total import. It was distantly followed by South Africa (163K tonnes), Ghana (157K tonnes) and Mauritius (142K tonnes), together achieving a 17% share of total imports. Benin (97K tonnes), Democratic Republic of the Congo (96K tonnes) and Zambia (96K tonnes) followed a long way behind the leaders.

From 2013 to 2018, the biggest increases were in Benin, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish importing markets in Africa were Nigeria ($488M), Cameroon ($467M) and Egypt ($290M), with a combined 42% share of total imports. These countries were followed by Cote d’Ivoire, Mauritius, Ghana, South Africa, Zambia, Benin and Democratic Republic of the Congo, which together accounted for a further 39%.

Import Prices by Country

The frozen whole fish import price in Africa stood at $1,088 per tonne in 2018, surging by 4.8% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Mauritius ($1,810 per tonne), while Nigeria ($839 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Ghana, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

fish fillet
Archives, Global Trade Daily, Imports/Exports

Preserved Fish Fillet Market in the EU Flattened At $750M

Leave a comment

IndexBox has just published a new report: ‘EU – Fish Fillets (Dried, Salted Or In Brine, But Not Smoked) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the preserved fish fillet market in the European Union amounted to $751M in 2018, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, preserved fish fillet consumption continues to indicate a relatively flat trend pattern. Over the period under review, the preserved fish fillet market reached its peak figure level in 2018 and is expected to retain its growth in the immediate term.

Consumption By Country

The countries with the highest volumes of preserved fish fillet consumption in 2018 were Italy (28K tonnes), Poland (16K tonnes) and the UK (13K tonnes), with a combined 49% share of total consumption. Spain, the Netherlands, France, Romania, Portugal, the Czech Republic, Belgium, Hungary and Greece lagged somewhat behind, together accounting for a further 39%.

From 2007 to 2018, the most notable rate of growth in terms of preserved fish fillet consumption, amongst the main consuming countries, was attained by Portugal, while the other leaders experienced more modest paces of growth.

In value terms, the largest preserved fish fillet markets in the European Union were France ($138M), Italy ($132M) and the Netherlands ($110M), together comprising 51% of the total market. These countries were followed by Spain, Poland, Romania, the Czech Republic, Belgium, Hungary, Greece, Portugal and the UK, which together accounted for a further 35%.

The countries with the highest levels of preserved fish fillet per capita consumption in 2018 were Italy (469 kg per 1000 persons), the Netherlands (463 kg per 1000 persons) and Poland (407 kg per 1000 persons).

Market Forecast 2019-2025 in the EU

Driven by increasing demand for preserved fish fillet in the European Union, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.6% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 139K tonnes by the end of 2025.

Exports in the EU

The exports totaled 30K tonnes in 2018. In general, preserved fish fillet exports continue to indicate a slight contraction. In value terms, preserved fish fillet exports amounted to $160M (IndexBox estimates) in 2018.

Exports by Country

In 2018, Denmark (17K tonnes) represented the key exporter of fish fillets (dried, salted or in brine, but not smoked), committing 56% of total exports. Sweden (4,361 tonnes) took the second position in the ranking, followed by Spain (3,007 tonnes), the UK (2,113 tonnes) and Germany (1,526 tonnes). All these countries together took approx. 36% share of total exports. The following exporters – Italy (554 tonnes) and Belgium (526 tonnes) – each finished at a 3.6% share of total exports.

Exports from Denmark increased at an average annual rate of +8.1% from 2007 to 2018. At the same time, Belgium (+16.1%) and Spain (+4.2%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter in the European Union, with a CAGR of +16.1% from 2007-2018. By contrast, Italy (-1.5%), the UK (-4.7%), Sweden (-5.7%) and Germany (-12.8%) illustrated a downward trend over the same period. While the share of Denmark (+33 p.p.) and Spain (+3.6 p.p.) increased significantly in terms of the total exports from 2007-2018, the share of the UK (-4.8 p.p.), Sweden (-13 p.p.) and Germany (-17.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

Imports in the EU

The imports totaled 60K tonnes in 2018, jumping by 9.8% against the previous year. Over the period under review, preserved fish fillet imports, however, continue to indicate a relatively flat trend pattern.

In value terms, preserved fish fillet imports totaled $386M (IndexBox estimates) in 2018. In general, preserved fish fillet imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 9.7% y-o-y. In that year, preserved fish fillet imports reached their peak of $433M. From 2015 to 2018, the growth of preserved fish fillet imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of preserved fish fillet imports in 2018 were Italy (14K tonnes), Denmark (12K tonnes) and Spain (9.8K tonnes), together recording 60% of total import. The Netherlands (6,113 tonnes) ranks next in terms of the total imports with a 10% share, followed by Sweden (8%), Portugal (5.9%) and Germany (5.4%).

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Portugal, while the other leaders experienced more modest paces of growth.

In value terms, Italy ($119M), Spain ($73M) and Denmark ($51M) appeared to be the countries with the highest levels of imports in 2018, with a combined 63% share of total imports. The Netherlands, Sweden, Germany and Portugal lagged somewhat behind, together comprising a further 28%.

Source: IndexBox AI Platform

Archives, Global Trade Daily, Imports/Exports

Asia’s Fish Fillet Market – China’s Export Share Exceeded 50%

Leave a comment

IndexBox has just published a new report: ‘Asia – Frozen Fish Fillet – Market Analysis, Forecast, Size, Trends and Insights.’ Here is a summary of the report’s key findings.

The revenue of the frozen fish fillet market in Asia amounted to $3.9B in 2017, growing by 4.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% over the period from 2007 to 2017; the trend pattern indicated some noticeable fluctuations being recorded in certain years.

The growth pace was the most rapid in 2009, when the market value increased by 35% against the previous year. Over the period under review, the frozen fish fillet market attained its peak figure level at $4.6B in 2011; however, from 2012 to 2017, consumption remained at a lower figure.

Production in Asia

In 2017, production of frozen fish fillet in Asia amounted to 1.9M tonnes, remaining relatively unchanged against the previous year. The total output volume increased at an average annual rate of +1.6% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period.

Exports in Asia

The exports totaled 1.7M tonnes in 2017, flattening at the previous year. The total export volume increased at an average annual rate of +3.5% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.

In value terms, frozen fish fillet exports amounted to $7B (IndexBox estimates) in 2017.

Exports by Country

China was the main exporting country with an export of around 901K tonnes, which accounted for 53% of total exports. It was distantly followed by Vietnam (597K tonnes), constituting 35% share of total exports. The following exporters – Indonesia (43K tonnes) and Thailand (27K tonnes) – together made up 4.2% of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, China ($4B) remains the largest frozen fish fillet supplier in Asia, comprising 57% of total frozen fish fillet exports. The second position in the ranking was occupied by Vietnam ($1.6B), with a 23% share of total exports. It was followed by Indonesia, with a 3.8% share.

Export Prices by Country

In 2017, the frozen fish fillet export price in Asia amounted to $4,130 per tonne, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2008, an increase of 14% against the previous year. Over the period under review, the export prices for frozen fish fillet attained their maximum at $4,486 per tonne in 2011; however, from 2012 to 2017, export prices failed to regain their momentum.

Export prices varied noticeably by the country of origin; the country with the highest export price was Thailand ($7,128 per tonne), while Vietnam ($2,629 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Thailand, while the other leaders experienced more modest paces of growth.

Imports in Asia

In 2017, imports of frozen fish fillet in Asia totaled 864K tonnes, picking up by 4.2% against the previous year. The total imports indicated a strong growth from 2007 to 2017: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, the frozen fish fillet imports increased by +93.6% against 2007 indices.

In value terms, frozen fish fillet imports amounted to $3.5B (IndexBox estimates) in 2017.

Imports by Country

Japan dominates frozen fish fillet imports structure, amounting to 524K tonnes, which was approx. 61% of total imports in 2017. It was distantly followed by China (56K tonnes), comprising 6.4% share of total imports. Israel (39K tonnes), South Korea (38K tonnes), the Philippines (26K tonnes), China, Hong Kong SAR (25K tonnes), Singapore (21K tonnes), Malaysia (19K tonnes), Iran (14K tonnes), Taiwan, Chinese (14K tonnes), Saudi Arabia (14K tonnes) and Vietnam (14K tonnes) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to frozen fish fillet imports into Japan stood at +5.8%. At the same time, the Philippines (+60.0%), Taiwan, Chinese (+24.6%), Vietnam (+21.3%), China (+20.3%), Singapore (+18.5%), Iran (+18.0%), Malaysia (+15.3%), Saudi Arabia (+10.8%), China, Hong Kong SAR (+1.4%), Israel (+1.2%) and South Korea (+1.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest growing importer in Asia, with a CAGR of +60.0% from 2007-2017. Malaysia (-1.6%), Singapore (-2%), the Philippines (-3%), China (-5.4%) and Japan (-26.2%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($2.1B) constitutes the largest market for imported frozen fish fillet in Asia, comprising 61% of total frozen fish fillet imports. The second position in the ranking was occupied by South Korea ($233M), with a 6.7% share of total imports. It was followed by Israel, with a 6.1% share.

Import Prices by Country

In 2017, the frozen fish fillet import price in Asia amounted to $3,996 per tonne, surging by 8.9% against the previous year. Overall, the frozen fish fillet import price, however, continues to indicate a relatively flat trend pattern.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Taiwan, Chinese ($6,346 per tonne), while the Philippines ($1,515 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform