China’s seafood exports will grow by 7 to 8 percent in 2024, similar to levels reached in 2023, according to Wang Xueguang, the vice president of the China Aquatic Products Processing and Marketing Alliance (CAPPMA), a Beijing-based organization affiliated with China’s Ministry of Agriculture.
Wang said that he expects stability in global seafood markets in 2024 as demand stabilizes and inflation ebbs in key export markets. But he’s also wary of trade friction and said the global seafood market remains characterized by low prices. According to Wang, China's seafood industry has traditionally been export-oriented and, in a low-margin environment, companies find it “more straightforward” to stick with exports rather than seeking to develop the domestic market.
“In China, consumption demand is weak but ...
