CFSE 2024 day one recap: Atlantic mackerel prices soar, Australian abalone under pressure

QINGDAO, China — Underwater news is reporting live from the China Fisheries and Seafood Exhibition (CFSE), held from October 30 to November 1, 2024 at the Hongdao International Exhibition and Convention Center (HICEC) in Qingdao, China.

CFSE is China’s largest seafood exhibition and is central to the marketing calendar of international seafood companies in China. Domestic Chinese seafood companies also came out strong.

Below you can read all the main news from the first full day of the show:

Australian lobster firm to keep sales frozen after China lifts ban on live streaming

Australian rock lobster company Ferguson Australia plans to maintain frozen sales in Europe and domestic markets even as China lifts a four-year ban on live lobster imports from the country. Click here read completely.

Indian surimi producers face market challenges as prices remain flat

Indian surimi producers face significant market challenges as tropical surimi prices remain static, industry executives say Undercurrent. Read more here.

Chinese company Guoxin is developing branded products for its giant aquaculture vessel

China’s state-owned Guoxin Group has cultivated strong demand for fish grown on its giant vessel Guoxin 1, according to a company executive. Click here for more

Maltese bluefin tuna is sold to China under JV

Farmed Maltese bluefin tuna will make its consumer debut at CFSE through a joint venture between Malta Fish Farming and China’s Shandong Far-sea Development. Learn more about this here.

Atlantic mackerel prices expected to soar even higher in 2025

Atlantic mackerel prices are expected to surpass this year’s record levels next year, according to the sales manager of one of Norway’s leading pelagic producers Undercurrent. Read more here.

Abalone farmed in China is putting pressure on prices for wild-caught Australian fish

Wild-caught abalone prices in Australia have fallen by A$20 per kilogram (US$13/kg) since the start of the year, as expanding Chinese aquaculture production increases competition in the premium seafood market. Click here read more

Russian pollock producers are exploring new caviar markets in China

Russian pollock producers are exploring the range of roe in the Chinese market as part of their strategy to diversify exports away from their traditional buyers in Japan and South Korea. Read more here.

Chinese fish trader in Senegal begins adding value amid falling pelagic catch

Tamou Fishing International, one of Senegal’s largest seafood trading companies, is expanding its value-added processing operations as catches of local pelagic fish decline, a senior executive said Undercurrent. Click here for more

Newfoundland halibut prices in China remain stable

China’s halibut market has shown resilience, with prices remaining stable, according to the sales manager of a major processor in Newfoundland and Labrador, Canada Undercurrent. You can read more here.

Vietnam is gaining market share in mackerel processing from China thanks to a trade agreement with Japan

Vietnamese seafood processors are capturing an increasing share of the mackerel processing market in China, using zero access to Japan through a long-standing free trade agreement, according to industry experts. Click here read more

Chinese salmon sales grow due to e-commerce, but traditional retail still dominates

E-commerce platforms are capturing an increasing share of salmon sales in China, although traditional retail channels continue to dominate, according to a senior executive at Mowi, the world’s largest salmon company. Learn more about this here.

China has overtaken South Korea to become Norway’s third largest mackerel market

Norway exported 150,000 metric tons of frozen mackerel in the first nine months of 2024, down from 161,000 tons recorded in the same period in 2023. However, the value of exports increased by 16%, thanks to an average growth of 19.5%. prices Click here for more detailed information.

Undercurrent also reported on the Norway-China Seafood Summit held at the Haitian Center on October 29, the day before the opening of the main exhibition.

You can read a summary of the headlines from this event below: