IN BRIEF- China Condemns New US Tariffs, Files WTO Complaint
CHINA
Tuesday, February 11, 2025
China is challenging the US's newly imposed 10% tariffs on Chinese goods, effective February 4th, with a World Trade Organization (WTO) complaint and unspecified retaliatory measures.
This action follows a 25% tariff on Canadian and Mexican products, and an additional 10% on China, citing concerns about fentanyl flow to the US. China argues the tariffs violate international trade rules and rejects the fentanyl connection, highlighting bilateral anti-drug cooperation.
These new tariffs exacerbate existing trade tensions, adding to the nearly $350 million in annual tariffs imposed on Chinese seafood since 2018, which remain in place. While China's response is more measured than Canada's and Mexico's, the potential impact on seafood exports is significant. A 35% tariff on the US's $1.55 billion in Chinese seafood imports (2023 figures) could result in a $540 million loss. Frozen tilapia, a major export, is expected to be particularly affected, having already incurred $77.5 million in tariffs on $320 million worth of imports in 2023. The impact on previously duty-free seafood remains unclear.
Japan is assessing the tariff's impact before determining its response and has established a consultation desk for affected businesses. The tariffs coincide with China's Lunar New Year holiday, adding pressure on businesses. Exporters have prepared for the tariffs, but uncertainty remains regarding future price adjustments. The Chinese aquaculture industry is currently focused on inventory levels, with expectations that frozen inventory is not excessively high. Raw material prices have fluctuated, and while stability is hoped for post-holiday, exporter actions will be key.
Peru's Ministry of Production (PRODUCE) has announced extended deadlines for the installation of the Satellite Tracking System (SISESAT) on artisanal fishing vessels.
This decision aims to ease the economic burden on the artisanal fishing sector while simultaneously promoting formalization and improved fisheries management.
Vice Minister Jesús Barrientos stated that the extended deadlines strike a balance between sustainability and formalization, allowing for more effective monitoring and control of the fleet. The staggered implementation schedule, based on vessel hold capacity, will also aid in combating illegal fishing activities.
The new deadlines are as follows:
Vessels up to 10 m³ hold capacity: December 31, 2026
Vessels between 10 m³ and 20 m³ hold capacity: July 31, 2026
Vessels between 20 m³ and 32.6 m³ hold capacity: January 1, 2026
Two leading Japanese seafood companies, Maruha Nichiro and Nissui, have announced positive financial results for the April-December 2024 period.
Maruha Nichiro: Consolidated sales reached ¥828.1 billion (approximately US$5.6 billion), a 5.2% year-on-year increase. Operating profit rose 9.8% to ¥27.8 billion (approximately US$188 million). Growth was driven by increased sales volume in both the marine resources and processed food segments, with particularly strong performance in food distribution (marine products) and the processed food segment (pet food). Marine resources sales specifically increased 10.6% to ¥1.86 billion (approximately US$12.6 million).
Nissui: Consolidated sales increased 6.1% year-on-year to ¥663.3 billion (approximately US$4.5 billion). However, operating profit decreased 5.7% to ¥24.8 billion (approximately US$168 million). While sales benefited from strong food product performance and favorable exchange rates, operating profit was impacted by challenges in the seafood business and domestic food products, despite strong performance in overseas food products. Nissui considers the results to be in line with expectations. Seafood business sales specifically increased 5.7% to ¥270.6 billion (approximately US$1.8 billion).
Note: Conversions to US dollars are approximate and based on current exchange rates. Fluctuations in exchange rates may affect the actual USD values.
A fire on Sunday night at Mowi's "Storvika V" salmon farm in Dyrøy, Troms, Norway, has resulted in an estimated escape of 27,000 fish, according to VG.
The fire, which affected a mooring and damaged an outer cage ring, is still under investigation due to challenging weather conditions.
Mowi is receiving assistance from multiple vessels, including the Norwegian Coast Guard vessel "KV Svalbard." Recapture efforts will commence when weather permits, initially focusing on a 500-meter zone around the facility. The cause and full extent of the damage are yet to be determined.
Herring gillnet and fixed net catches along the Japan Sea coast of Hokkaido totaled 311 metric tons as of January 31st, a substantial decrease compared to the same period last year.
Photo: Fisheries Hokkaido Blog
Catches were distributed across several regions, with the largest volumes reported in Ishikari (218 metric tons), followed by northern Shiribeshi (93 metric tons). Smaller catches were reported in other areas. Blizzards in February temporarily halted some fishing activity, but the season is expected to resume.
Despite the lower overall catch, herring deliveries to the Sapporo Central Market have been increasing since early February, with strong demand anticipated for the March peak season. Deliveries from Ishikari have been consistent, with daily volumes ranging from 25 to 66 metric tons and prices around ¥500-¥600 per kilogram. However, deliveries from Shiribeshi remain low.
This success is attributed to ongoing scientific expeditions that assess stock health and provide recommendations to the fishing fleet. Since 2014, Iwashi sardine populations have been steadily increasing. The recommended 2025 catch is 1.215 million metric tons, well above current harvest levels. VNIRO data indicates this increased fishing pressure will not negatively impact stocks.
Scientific support plays a crucial role in optimizing fishing operations, reducing search time for fish concentrations, expanding fishing areas, and extending the fishing season.
South Korea's frozen mackerel imports reached 12,082 metric tons in January 2025, a 25% increase compared to the same period in 2024 (9,693 metric tons). This volume represents 16% of total seafood imports (75,350 metric tons).
Norway supplied the vast majority (96%, or 11,610 metric tons) of imported frozen mackerel, with China contributing 4% (449 metric tons) and the Netherlands less than 1% (23 metric tons). The average import price per kilogram was USD 2.74 for Norwegian mackerel and USD 1.98 for Chinese mackerel
Click on the table to enlarge it
The total import value reached USD 32.67 million, a substantial 53% increase from USD 21.30 million in January 2024. The average import price per kilogram also rose by 23% year-on-year, from USD 2.20 to USD 2.70. This surge in both volume and value is attributed to increased domestic demand and international market price fluctuations.
For context, current domestic wholesale prices in South Korea for frozen Norwegian mackerel are approximately KRW 99,000 per 20kg for the 400/600 size range and KRW 98,000 per 20kg for the 300/500 size range.
The Japanese government has vowed to continue supporting the fishery sector in the Bangsamoro Autonomous Region in Muslim Mindanao, in collaboration with the United Nations Food and Agriculture Organization (FAO) and the BARMM’s Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR).
Collaborating with the FAO and BARMM's MAFAR, the initiative aims to boost sustainable aquaculture and fisheries, addressing challenges like post-harvest losses, declining production, and poverty.
The FAO will provide technical support, training, capacity building, and infrastructure development, while also training MAFAR and local governments in fish stock monitoring and management.
This program builds upon previous successful collaborations between the FAO and Japan in the region.
The regional director of ProChile in Los Lagos, Ricardo Arriagada, highlighted that the company TecNovum – Internet of Water recently exported aquaculture monitoring solutions to Peru, consolidating a commercial relationship with that country.
It is a meteorological station (Climatix), an online water quality monitoring system (Internet of water) for various depths and a modern satellite forecasting system. This technology allows companies to anticipate weather conditions that may affect fish, reducing their mortality. Widely used in the salmon industry, since 2022 it has expanded its international presence with the support of ProChile.
Source: MundoAcuicola l Read the full article here
The Fisheries Commissioner criticises the «unilateral» decision of the country, which this year has an initial quota six times higher than the Spanish one despite having eight times less population.
The European Commissioner for Fisheries and Oceans, Costas Kadis, expressed this week his concern about the impact of mackerel fishing carried out by Norway and other non-EU countries without adhering to a fair and equitable distribution. In response to a question from MEP Pernando Barrena Arza (The Left), the Cypriot politician strongly recognises that «the unilateral increase in mackerel quotas by some coastal States threatens the sustainability of shared stocks and undermines efforts to manage fishing responsibly».
Author: Jorge Garnelo / Faro de Vigo l Read the full article here
Following promising results from its pilot plant, OoNee has set its sights on building a 200 raceway urchin ranch in Oregon – helping to save kelp forests and produce a significant quantity of a prized seafood.
If you have ever been lucky enough to observe a kelp forest – fronds of seaweed rolling with the waves above and disappearing into the inky blue depths below – you may be able to understand the passion that drives conservationists and entrepreneurs alike to protect these unique ecosystems. Such is the drive of Aaron Huang, co-founder of OoNee – an Oregon-based sea urchin ranching startup.
Author: Calum Johnstone / The Fish Site l Read the full article here
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