China’s seafood prices rose 1.2 percent in June compared to the same month of 2023.
The country's consumer price index overall rose 0.2 percent in June – a far cry from inflation levels seen in other major economies. Overall price growth has slumped across the Chinese economy as the country’s real estate sector remains in the doldrums and export markets raise tariffs against an influx of cheap Chinese goods.
The latest consumer pricing data from China’s Statistics Bureau points to weak demand in the catering sector, with prices for lamb down 7.1 percent and beef prices paid by consumers down 13.4 percent compared to June 2024. However, the price of cheaper proteins rose, with pork prices up 18.1 percent year over year.
The latest data will be worrying to seafood traders looking to China for sales, as it syncs with official data released by the China Ministry of Agriculture showing that from January to May 2024, the country’s seafood export volume dropped 6.5 percent year over year to USD 8 billion (EUR 7.4 billion). China’s imports over that period totaled USD 9.1 billion (EUR 8.5 billion) in value, marking a decrease of 11.5 percent.
Chinese consumer confidence remains low, in part due to ...
