U.S. frozen fish meat exports collapse amid weaker demand from Japan

IndexBox has just published a new report: “US – Frozen Fish Meat – Market Analysis, Forecast, Size, Trends and Information”. Here is a summary of the main findings of the report.

U.S. exports of frozen fish meat fell from $ 602 million in 2019 to $ 518 million in 2020 due to lower demand from Japan and South Korea. In physical terms, exports declined -9.5% year-on-year to 198K tonnes. South Korea, Japan and France are the main importers, accounting for 65% of US exports of frozen fish meat. The average export price of frozen fish meat from the United States declined 4.8% year-on-year to $ 2,623 per tonne in 2020.

United States Exports of Frozen Fish Meat by Country

In 2020, exports of frozen fish meat from the United States declined to 198,000 tonnes, a decrease of -9.5% from the previous year. In value, frozen fish meat exports increased from $ 602 million in 2019 to $ 518 million (IndexBox estimates) in 2020.

South Korea (61,000 tonnes), Japan (51,000 tonnes) and France (17,000 tonnes) were the top destinations for US frozen fish meat exports, with a combined share of 65% of exports total. The Netherlands, Spain, Lithuania and Canada lag somewhat behind, together accounting for an additional 24%.

US supplies to Japan fell from 75,000 tonnes to 51,000 tonnes last year. Exports to South Korea increased from 68,000 tonnes to 61,000 tonnes. In contrast, exports of frozen fish meat to the Netherlands increased by + 50%, reaching 14,000 tonnes in 2020.

In terms of value, the largest markets for frozen fish meat exported from the United States were South Korea ($ 162 million), Japan ($ 128 million) and France ($ 45 million), with a combined share of 65% of total exports. These countries were followed by Spain, Lithuania, the Netherlands and Canada, which together accounted for an additional 25%.

The average export price for frozen fish meat was $ 2,623 per tonne in 2020, down -4.8% from the previous year. Prices varied significantly depending on the country of destination; the country with the highest price was Canada ($ 3,563 per tonne), while the average export price to the Netherlands ($ 2,330 per tonne) was among the lowest. In 2020, the most notable price growth rate was recorded for supplies to France, while prices for other major destinations saw contrasting trends.

Source: IndexBox platform

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