U.S. Frozen Fish Imports

In March 2023, approximately 56K tons of frozen fish were imported into the United States; leveling off at the previous month. Over the period under review, imports, however, showed a noticeable setback. The pace of growth was the most pronounced in May 2022 when imports increased by 15% month-to-month.

In value terms, frozen fish imports expanded significantly to $476M (IndexBox estimates) in March 2023. Overall, imports, however, saw a slight descent. The most prominent rate of growth was recorded in May 2022 with an increase of 12% month-to-month.

Imports by Country

China (14K tons), Vietnam (7.4K tons) and Chile (6.7K tons) were the main suppliers of frozen fish imports to the United States, together accounting for 50% of total imports. These countries were followed by Indonesia, Norway, Mexico, Peru, Iceland, Canada, Taiwan (Chinese), Ecuador, Japan and Brazil, which together accounted for a further 36%.

From March 2022 to March 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +4.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish suppliers to the United States were Chile ($91M), China ($71M) and Norway ($49M), with a combined 44% share of total imports.

Chile, with a CAGR of +2.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Imports by Type

In March 2023, frozen fish fillet (41K tons) constituted the largest type of frozen fish supplied to the United States, with a 72% share of total imports. Moreover, frozen fish fillet exceeded the figures recorded for the second-largest type, frozen whole fish (15K tons), threefold.

From March 2022 to March 2023, the average monthly rate of growth in terms of the volume of import of frozen fish fillet amounted to -2.2%. With regard to the other supplied products, the following average monthly rates of growth were recorded: frozen whole fish (-2.8% per month) and frozen fish meat (-5.2% per month).

In value terms, frozen fish fillet ($392M) constituted the largest type of frozen fish supplied to the United States, comprising 82% of total imports. The second position in the ranking was held by frozen whole fish ($77M), with a 16% share of total imports.

Import Prices by Country

In March 2023, the frozen fish price stood at $8,452 per ton (CIF, US), surging by 8.8% against the previous month. In general, the import price recorded modest growth. The growth pace was the most rapid in April 2022 when the average import price increased by 9% month-to-month. The import price peaked in March 2023.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($18,372 per ton), while the price for Mexico ($2,334 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Norway (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform