Europe's demand for fish has increased the prices by 10%
Europe's consumption of fish and seafood has grown in the last 5 years and that led to an increase of 10% in fish prices, between 2013 and 2017.
Fish consumption in the EU has increased for almost all major commercial species. It has reached 24.33 kg per capita, 3% more than in 2015. Portugal is the absolute champion, with an average of 57 kg of fish per person per year. This is more than twice the EU per capita average. The top five species that are most eaten in the EU - tuna, cod, salmon, Alaska pollock and shrimp - in 2016 were 43% of the market. These species were mostly imported from non-EU countries, reveals a study released by EU Market Observatory for Fisheries and Aquaculture (EUMOFA).
In 2017, the EU remains the world's largest trader in fishery and aquaculture products. The volume of trade between the EU and the rest of the world has surpassed China by more than €2.3 billion.
Imports from non-EU countries peaked at €10.3 billion over 10 years, mainly due to the increase in imports of frozen cuttlefish and squid, mainly from India and China, and prepared/preserved tunafish Ecuador.
The United States and China were the main destinations for EU exports in terms of value, with over €5 billion. Norway and Nigeria are the recipients of the largest export volume of the EU, with Norway having mainly imported fish oil and Nigeria herring and mackerel. Intra-EU trade also grew, reaching €26.7 billion. The major trade flows involved salmon entered into the EU from Norway.
The EU has become the world's fifth largest fish producer, after China, Indonesia, India, and Vietnam. The total value of EU landings reached EUR 7.38 billion, the highest in the last decade. At the same time, the value of aquaculture products grown in the EU has reached an all-time high of EUR 4.25 billion.
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