According to the latest customs data, the import value of Chinese seafood in 2023 was 18.76 billion US dollars, which is basically the same as the 18.78 billion US dollars in 2022. But the major suppliers and products have undergone significant changes!
Among them, Canada’s seafood exports to China in 2023 amounted to 1.32 billion US dollars, an increase of 9.5% compared to 2022, ranking third among the top 10 suppliers. This is Canada’s return to the third-place throne after losing its top three position in 2022.
Among the top ten seafood suppliers in China, Canada has consistently ranked among the top in recent years. The main reasons include: 1) Canada has vast oceans and fishing grounds in the Pacific, Atlantic, and Arctic Oceans; 2) Canada has a rich variety of seafood, with flagship products in various categories such as fish, shrimp, crabs, and shellfish; 3) Canada has excellent sustainable fisheries management in the world, 4) The Canadian government and associations attach great importance to the Chinese market. 5) Canadian embassies and consulates in China, as well as business offices throughout China, actively assist Canadian associations and enterprises in exploring the local Chinese market. 6) Major Canadian seafood associations cooperate with seafood processing plants such as Haidong Seafood!
From the above chart, we can also clearly see that in the 10 years since 2013, Canada’s seafood exports to China have been steadily increasing, with only a slight decline in 2020 due to the pandemic. Compared with other major seafood exporting countries, Canada’s speed in expanding into the Chinese market can be described as “fast and stable”
Of course, compared to China’s second largest and second largest seafood exporting countries Ecuador and Russia, Canada still has a considerable gap. The main reasons are: 1) Ecuador’s position cannot be shaken in the short term due to its large export of South American shrimp to China, 2) Russia’s exports of seafood to China have surged in the past two years, driven by deep sanctions imposed by Europe and the United States. 3) A large part of Russia’s seafood exports to China are frozen fish, which are mostly raw materials for incoming and incoming processing, and the vast majority of processed products are re-exported, Not consumed domestically in China, 4) With the increasing sanctions imposed by Europe and America on frozen raw fish from Russia in early 2024, it is expected that Russia’s seafood exports to China will significantly decline in 2024!
Three piece set of Canadian seafood exported to China: shrimp and crab, frozen fish, and shellfishFrom the classification data of Canadian seafood exports to China, it can be seen that shrimp and crab, frozen fish, and shellfish are the most important three sets, accounting for 80.8%, 9.1%, and 8.5% of Canada’s exports to China in 2023, respectively. The three categories together account for 98.4% of Canada’s total seafood exports to China. Among them, shrimp and crab have the largest proportion and the fastest simultaneous growth; In recent years, the export growth of frozen fish and shellfish to China has been weak, while other categories can be ignored! Therefore, this article focuses on the latest export situation of these three types of production to China!
Three piece set of Canadian shrimp and crab exported to China: crayfish, Arctic shrimp, and precious crabs
According to the classification data of Canadian shrimp and crab exports to China, fresh crayfish, frozen Arctic shrimp, and fresh crabs (mainly fresh and precious crabs) are the most important three piece sets, accounting for 56.7%, 19.9%, and 16.2% of Canada’s total shrimp and crab exports to China in 2023, respectively, with a total of 92.8%.
It is gratifying that the export value of these three products to China has grown rapidly in recent years!
Regarding the export situation of Canadian fresh crayfish to China in 2023, you can refer to the latest article on the Canadian seafood account: The wild growth of fresh crayfish imports in 2023! The import volume increased by 28.4% to USD 790 million, while the import volume increased by 42.1% to 33000 tons. Canada is far ahead! In 2023, the export value of fresh Canadian crayfish to China reached 6.04 billion US dollars, an increase of 17.0%, reaching a new historical high!
Regarding the export of frozen Canadian Arctic shrimp to China in 2023, you can refer to the latest article on the Canadian Arctic Shrimp account: 69000 tons of cold water shrimp were imported from China in 2023! Import value of 550 million US dollars, reaching a new historical high! In 2023, the export value of Canadian frozen cold water shrimp (including Arctic shrimp, Montessori shrimp, and Peony shrimp) to China reached 212 million US dollars, an increase of 4.1%, setting a new historical high!
It should be noted that from 2022 to 2023, the popularity of frozen Arctic shrimp in the Chinese market has driven the export of other Canadian frozen shrimp to China, especially frozen Canadian peony shrimp. According to our data and information, more than 50% of the peony shrimp caught in BC Province, Canada are currently exported to China in the form of whole frozen shrimp, which is loved by high-end restaurants in China and has become a new benchmark for high-end imported shrimp! In addition, 30% of the peony shrimp caught in BC Province, Canada in 2023 were exported to China by air in the form of live shrimp; Although the export value of this fresh Canadian peony shrimp is not high, the growth rate is as high as 3490%, far higher than any year in history.
Special mention should also be made of the precious crabs from BC Province, Canada. The export performance to China in 2023 is also very impressive: the export value of fresh crabs, including fresh Canadian precious crabs, surged from $117 million in 2022 to $173 million in 2023, an increase of 48.1%, setting a new historical high!
Shortcomings of Canadian shrimp and crab exports to China: frozen snow crabs and frozen lobsters.
Of course, competition is everywhere. Canadian shrimp and crab exports to China in 2023. Although the total export value of Canadian shrimp and crab to China reached 1.065 billion US dollars in 2023, with a year-on-year growth rate of 10.3%, there are also products that have lost out to Maicheng: 1) The export value of frozen Canadian crayfish and snow crabs to China has sharply decreased, from 97.18 million US dollars in 2022 to 45.59 million US dollars in 2023, a decrease of 53.1%, which is even more tragic than halving the price! The main reason is that in 2023, due to the impact of European and American sanctions, a large number of cheap frozen Russian snow crabs and Russian king crabs, as well as a large number of fresh Russian snow crabs and king crabs, have flooded into the Chinese market, leaving Canadian snow crabs and others completely powerless to resist! The situation in 2024 is still very pessimistic! 2) The export value of frozen Canadian lobster to China decreased from $31.84 million in 2022 to $30.24 million in 2023, a decrease of 5.0%. This is mainly because, in 2023, a large number of cheap frozen lobsters from Vietnam, Cuba and other countries entered China, seizing the already inexpensive frozen Canadian lobster market. Another reason is the market weakness caused by consumer downgrading.
Canadian frozen fish exports to China: Greenland flatfish dominates
Compared to the export value of Canadian shrimp and crab to China, the export value of frozen fish to China ranks second, with an export value of 120 million US dollars in 2023, accounting for 9.1% of Canada’s total export value of seafood to China.
Among them, the most important varieties are 1) frozen Greenland flatfish (60.91 million US dollars, accounting for 50.7%), 2) frozen fish heads, etc. (mainly frozen Greenland flatfish heads, 28.06 million US dollars, accounting for 23.4%), both accounting for a total of 71.4%.
From the annual import data of China, it can be seen that Canada’s frozen Greenland flounder has surged since 2018, reaching a historical peak of $75.42 million in 2019. In 2020, it sharply decreased due to the impact of the epidemic, and in 2023, it recovered to $60.91 million.
Greenland flatfish is one of the most popular frozen fish species imported from China, and is very popular among Chinese consumers, whether it is whole fish, decapitated fish, or fish head and tail. Greenland is the main supplier of frozen Greenland flatfish to China, and Canada is also one of the important suppliers!
Besides, other Canadian frozen fish in China are lackluster!
Recently, the Canadian government plans to carry out marketing and promotion of Canadian redfish in the Chinese market, under the responsibility of Seabridge Marketing Company. We plan to freeze Canadian redfish in the next 3-5 years, becoming the second benchmark product for Canadian frozen fish in China, with an annual import value exceeding 40 million US dollars! DFO: Commercial fishing of redfish in Canada will be promoted in two stages, with a quota of 25000 tons in St. Lawrence Bay in 2024!
Canadian shellfish exports to China: Arctic shrimp and elephant clams dominate
The export value of Canadian shellfish to China was 112 million US dollars in 2023, a year-on-year increase of 2.1%, accounting for 8.5% of the export value of Canadian seafood to China, ranking third in the category.
Among them, the export value of frozen Arctic shells and other products to China in 2023 was 56.22 million US dollars, a year-on-year decrease of 5.3%; The export value of fresh live elephants and clams to China was 47.04 million US dollars, a year-on-year increase of 5.9%. In 2023, frozen Arctic shellfish and fresh live elephant clams accounted for 50.1% and 41.9% of Canada’s total shellfish exports to China, respectively, totaling 92.0%. Other Canadian shellfish products exported to China can be almost negligible!
In fact, Canada has relatively abundant resources of various shellfish, but marketing in China has never been successful. The successful marketing of Canadian Arctic shells in China is mainly attributed to Arctic Water Company; The successful marketing of Canadian elephant clams in China is mainly due to the contribution of Haiqiao Marketing Company! In addition, Canadian scallops, oysters, mussels, jade snails, etc. currently have no highlights in marketing and sales in the Chinese market, and their sales can be almost negligible!
What are the future opportunities for Canadian seafood exports to China?
We believe that: 1) Canadian Arctic shrimp, Montessori shrimp, and Peony shrimp will continue to grow in the Chinese market, but the space is limited because fishing yields cannot continue to grow; 2) Canadian crayfish still have growth potential in China, but are under competitive pressure from American crayfish; 3) Canadian Greenland flatfish still has a lot of growth space in China. If the Canadian Bottom Fish Council can carry out flatfish marketing in the Chinese market, 4) Canadian redfish has enormous potential in the Chinese market. 5) Canadian Arctic shellfish and elephant clams do not have further growth potential in the Chinese market because fishing yields cannot continue to grow. 6) Canadian scallops, oysters, and mussels have enormous potential in the Chinese market. If relevant associations can carry out effective marketing in the Chinese market, it is difficult for Canada’s export volume to surpass Ecuador and Russia in the short term, But striving to maintain the third place should be possible. 8) Canada urgently needs a clear and effective “Canadian seafood China strategy” to strengthen the development and marketing of new products in the Chinese market!
