The Chinese market is a complex one and there are clearly some contradictions and species-specific issues when it comes to imports.
There are, however, key drivers that can’t be argued with:
- Per capita consumption of seafood is 14.62 kilos – the highest in the world and rising.
- Consumption of seafood by those living in cities is almost three times that of those living in rural areas and China has a strong urbanization drive.
- Imports of wild-caught seafood and salmon, in particular are sky-rocketing.
- A strengthening RMB has made imports more affordable – and the currency will strengthen further if the Chinese government goes ahead with its plan to make the RMB fully convertible.
- While