Agriculture & Food

Report from urner Barry: according to the data released by IRI at the global seafood market conference hosted by the American Fisheries Association, the sales of shrimp products in retail stores will increase by 37% in 2020 compared with 2019. According to NPD group supplytrack data, compared with this, the sales of shrimp products in the catering service industry fell by 24%.

According to the comprehensive data provided, the sales of seafood in 2020 is better than that in 2019.

According to the report, these data may be misread, so it is necessary to analyze them in other contexts. For example, the amount of retail sales in US dollars is aimed at consumers, which may bring 30% or more profit margin to retailers, while the sales data of catering service industry can cover from advertisers to operators, It is a "step" away from the quotation of urner Barry and far from the actual consumption level of consumers.

It is also very meaningful to compare the sales volume of seafood. For example, according to Nielsen and IRI data, the sales volume of shrimp products in 2019 is between 415-435 million pounds. If the weight is linked to the US dollar, the sales volume is between 560-587 million pounds (all weights are calculated by net weight). Therefore, if we consider that the import volume of commercial frozen shrimp in 2020 is 1.64 billion pounds (excluding local catch and marginal error), the retail statistics will rise by 35%.

In the past 10 years, the global output of seafood has increased steadily, reaching 212 million tons in 2018, twice that of 1991. Wild fishing accounts for 82% and aquaculture accounts for 18%. Since then, the wild catch has increased at a rate of 0.5% per year, while the aquaculture industry has developed at an amazing rate of 7% per year. As a result, the output of aquaculture has exceeded the wild catch since 2013. Now the ratio of aquaculture and wild catch is 54%: 46%.

According to the report submitted by FAO to the world bank in 2013, the global seafood production is expected to increase by 23.6% from 2010 to 2030. The aquaculture industry is the main "contributor", and its production will increase by 61.9%, mainly due to the growth of molluscs, carp and shrimp.

According to the report, the United States has never had so much seafood available. During 1999-2019, the net supply increased by 0.73% per year, which means that the market supplied 15.6% more seafood in 2019 than in 1999. Import is the main driving force (+ 1.86%), and wild fishing (+ 0.16%) has also increased in the past 20 years.

In 2019, the commercial fishing volume was 9.379 billion pounds, worth $5.529 billion, a decrease of 44.19 million pounds compared with 2018, and a year-on-year decrease of $82 million, a decrease of 0.47% and 1.5% respectively.

In 2020, the import volume of seafood was 6.092 billion pounds, worth US $21.497 billion, an increase of 19578 million pounds, or 3.32%, compared with that in 2019, and the import volume decreased by US $515 million, or 2.34%. Shrimp is the main import commodity, with an import volume of 1.649 billion pounds.

In 2020, the export volume of U.S. seafood was 2.41 billion pounds, worth 4.205 billion dollars, a decrease of 473.84 million pounds, a decrease of 16.43%, and the export volume decreased by 888 million dollars, a decrease of 17.45%. Alaska cod is the most important export product, with an export volume of 1.649 billion pounds.

Top 10 marine products imported by the United States in 2020 (sorted by import volume):

Shrimp, salmon, tuna, tilapia, crab, catfish, COD, lobster, Pollock, squid.

Top 10 export seafood (sorted by export volume):

Pollock, salmon, halibut, COD, squid, COD, mackerel, lobster, sea bass, crab.