According to a report,?Pakistan’s exports of seafood to China reached $141.57 million, a rise of 34% from January to September of last year.
The trade of flours and fish meals used in animal feeding, commodity code 23012010, from Pakistan to China exceeded $49.48 million, according to statistics from the Customs Administration of Customs.
More than 43549.19 tonnes were imported from Pakistan in volume between January and September, compared to 28486.12 tonnes during the same time last year. According to data, Pakistan imported 40654.92 tonnes of fish meals for animal feeding in 2021, totalling $40.53 million.
The two countries’ bilateral commerce has greatly expanded despite the COVID-19 epidemic. In the first nine months (January through September) of FY22, Pakistan’s exports to China were $2.57 billion, an increase of 2% from $2.51 billion during the same period of FY21 and a third straight year’s worth of growth.
The records show that Pakistan exported frozen fish worth over $37 million to China under the commodity code 03038990, frozen cuttlefish worth over $16 million under the code 03074310, and frozen flat fish and scabbard fish worth over $6 million and $3 million, respectively.
Khurram Naseeb, from A-One Fishmeal, based in Karachi told Gwadar Pro that the rise in the international price of alternate protein sources like soya bean, rapeseed meal, etc. contributed to an increase in demand for Pakistani fishmeal in China. As fishmeal is also used in the aqua feed, Chinese aquatic farmers this year favored a further demand for fishmeal, he stated.
He said that the RMB, the Chinese currency, was strong at the beginning of the year, favouring imports for the Chinese. He continued by saying that although more than 313 commodities, including fisheries, now have duty-free access to China as a result of the 2nd Free Trade Agreement, Pakistan’s fishery processing industry still has to develop significantly if it is to increase exports. Pakistan is blessed with a wealth of aquatic resources.