It's been on the lips of a lot of seafood executives, and it's been in our pages: China's seafood processing sector isn't what it used to be.

From surimi to cod to pollock, the situation "is getting worse and worse," according to one Chinese executive, who notes “the cost of labor, processing and raw materials are rising quickly,” and layered on top of that is the fluctuating Chinese yuan.

“I don’t think China is outclassing the rest of the world any longer in terms of competition, but instead is competing alongside,” Norway Seafoods CEO Thomas Farstad said in reaction to a sharp drop in cod exports to China.

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