Global fish trade to touch $100 bn

The global fish trade is estimated to touch $100 billion in the current year. At an annual growth rate of 15-20 per cent, the total fish trade may cross $100 billion, according to the latest estimates by the major fish trading countries such as the US, Japan, EU and China.

Total exports of fish and fish-based products was $86 billion in 2006.

International trade in fish and fishery products is expected to grow strongly as consumption increases globally. According to the estimates, around 50 per cent of the global fish trade originates from the developing nations such as China, Thailand and Vietnam.

Though production through capture has shown a static or declining trend worldwide, the aquaculture production has shown a continuous growth in 2007. Increase in cost has led to the decline in capturing of fish from sea.

Surge in oil prices is a major concern of the trawling industry as fuel makes for more than 50 per cent of the total cost. Aquaculture accounts for 45 per cent of the world's total production and is expected to surpass production from natural resources in a few years.

Total global production is estimated to be 143 million tonnes in 2007, up 1.4 per cent over 141 million tonnes in the previous year. Production through aquaculture is estimated at 52 million tonnes, registering a growth of 4 per cent. Production through capture is estimated at 91 million tonnes.

China is the largest player in the global fish trade with a whopping $8.9 billion in 2006. During the first-half of current year, exports from China rose 14.9 per cent to 1,477,000 tonnes valued at $4,680 million. The country imported 1,717,000 tonnes valued at $2,300 million during the period.

China is slated to overtake Spain as the world's third largest importing country after Japan and the US. Japan is the largest market for fish, but imports have declined in recent years.