Rabobank expects that the global seafood trade will continue to rebound in the rest of this year. The United States and Europe and other markets have fully recovered from the epidemic, while China is slowly recovering to its pre epidemic import level.

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According to the news from Seafood News on October 21, Rabobank of the Netherlands predicted that the global seafood trade would continue to rebound in the rest of this year, and markets such as the United States and Europe had fully recovered from the epidemic, while China was slowly recovering to its pre epidemic import level.

Rabobank emphasized in its latest report Global Seafood Trade:.

RaboResearch analyst Novel D. Sharma and senior global expert Gorjan Nikolik pointed out that the dietary habits of American consumers are turning to seafood. Rabobank attributed this to the millennial generation who focus on healthier protein choices and the aging baby boomers who are seeking to improve their dietary choices.

In order to meet the growing demand, the United States increasingly relies on imported seafood, especially high-quality varieties, such as shrimp, salmon, lobster and crab, which are listed as "beneficiaries" of the increased demand for American seafood.

The United States ranks second in global seafood imports. According to Rabobank data, the United States' imports in 2021 will be 28 billion US dollars, an increase of 10 billion US dollars over 2013. Although the current imports have declined from the peak in 2021, they will recover in the next two to three years.

The report also focused on China. The report said that China's economic growth has enabled more middle class consumers to buy high-quality seafood, and the current supply gap and all consumption growth need to be met through imports.

The long-term compound annual growth rate of China's imports from 2013 to 2021 is 17.9% (excluding reprocessed fish and fish meal/oil), which shows that China is increasingly relying on imports to meet the growing domestic demand.

The report points out that with the possible macroeconomic downturn, more uncertainty is expected. The winners of seafood, namely salmon and shrimp, will continue to grow in the next few years.

Ten years after the global import demand was driven by China, the United States is probably an equally important marine product demand driver. These two regions have great potential in continuing to shape global marine product trade flows, and will become key drivers in the short and medium term.

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