China has begun sourcing food products away from Western markets in an attempt to limit the damage looming trade disruptions may cause.
“Slowly but surely, it seems like China’s finding a path that allows it to rely on international markets, allows it to rely on trade partners, but doesn’t create insecurity,” Even Pay, an agriculture analyst at policy research consultancy firm Trivium China, told Bloomberg recently.
Regarding seafood specifically, this has played out in the form of China opening up seafood export access to several African nations, including Uganda, Madagascar, and Sierra Leone, among others.
The nation also recently reopened its doors to exports of Australian lobster after banning the product for four years.
“We’re selling good volumes in the lead up to the Lunar New Year,” Marc Anderson, the CEO of Geraldton Fishermen’s Cooperative, which sells the Brolos brand of lobsters to China, told SeafoodSource.
“Historically, Chinese New Year is one of the peak demand periods for Brolos lobster in China. The seasonal demand, combined with the positive reception we’ve received from existing and new customers since reconnecting with the Chinese live lobster market, has resulted in an increase in market prices and beach prices paid to our members on a range of grades.”
To meet seafood demand, the country has also begun looking toward its own distant-water fleet, which has started sending more of its catch back home for domestic consumption, instead of heavily relying on international markets as it has done traditionally.