US frozen fish meat exports slump amid falling demand from Japan




South Korea, Japan and France were the top destinations for US frozen fish meat exports, with a combined share of 65% of total exports.

IndexBox just released a new report: ‘United States – Frozen Fish Meat – Market Analysis, Forecast, Size, Trends and Outlook’. Here is a summary of the main findings of the report.

US exports of frozen fish meat fell from $602 million in 2019 to $518 million in 2020 amid falling demand from Japan and South Korea. In physical terms, exports decreased by -9.5% year-on-year to 198,000 tons. 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 decreased -4.8% year-on-year to $2,623 per tonne in 2020.

US exports of frozen fish meat by country

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

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

US deliveries to Japan fell from 75,000 tons to 51,000 tons last year. Exports to South Korea increased from 68,000 tons to 61,000 tons. On the other hand, 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 another 25%.

The average export price of frozen fish meat stood at $2,623 per ton 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 ton), while the average export price to the Netherlands ($2,330 per ton) was among the lowest. In 2020, the most notable growth rate in terms of prices was recorded for deliveries to France, while prices for other major destinations experienced contrasting developments.

Source: IndexBox platform

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