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Inside Gulf Cooperation Council (GCC) the Fish and Seafood Trade

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Inside Gulf Cooperation Council (GCC) the Fish and Seafood Trade MARKET ACCESS SECRETARIAT Global Analysis Report Inside Gulf Cooperation Council (GCC) The Fish and Seafood Trade December 2015 TRADE SUMMARY CONTENTS The Gulf Cooperative Council (GCC) is today home to some of the Trade Summary ................................. 1 fastest growing economies in the world with a shared vision of prosperity and combined have with more than 37 million residents Canadian Performace vs United located in Saudi Arabia, the United Arab Emirates (UAE), Oman, States ............................................... 2 Bahrain, Qatar and Kuwait. Trade ................................................. 2 The GCC has limited local agricultural production, and an ever growing demand for imported agri-food, fish and seafood products; in addition to Top Ten Fish and Seafood Suppliers a strong re-export market to neighbouring countries. Canadian agri- to GCC in 2014 .................................. 5 food products are seen as high-quality, with a distinctive clean, pure and safe image. Logistics ............................................ 6 Fish and Seafood Market Sizes The GCC imported US$995.5 million worth of fish and seafood and Drivers ........................................ 7 products from the world in 2014, an increase of 21.4% from 2013. The GCC’s supply of fish and seafood products is diverse and is imported Market Shares by Company .............. 9 from over 50 countries. The top suppliers in 2014 were India with a 30.6% market share, Thailand (22.7%), and Indonesia (7.0%). In 2014, Foodservice ..................................... 10 Canada ranked 25th among the GCC’s supplying countries with 0.3% market share or US$2.9 million. Resources ....................................... 12 In 2014, the GCC’s primary fish and seafood imports included prepared not minced tuna/skipjack/bonito (US$263.5 million), frozen shrimps and prawns (US$222.3 million), frozen fish (US$69.0 million), fresh/chilled Atlantic salmon (US$50.2 million), and frozen squid and cuttle fish (US$31.7million).The top lobster imports were frozen lobster (US6.7 million) and live lobster (5.1 milion) in 2014. The GCC exported US$100.4 million in fish and seafood products to the world in 2014, an increase of 5.2% from the previous year. The GCC’s leading exports were frozen crab (US$18.3 million), sardines (US$16.9 million), shrimp and prawns (US$10.6million), dried/smoked shark fines (US$8.2 million), and dried fish Visit our online library of public (US$6.4 million). Top export destinations were Thailand (17.2%), South reports for more information on this Korea (15.2%), and Hong Kong (14.8%). and other markets. CANADIAN PERFORMANCE VS THE UNITED STATES • In 2014, Canada was the world’s eighth-largest exporter of fish and seafood products going to over 130 countries, representing an export value of over US$4.5 billion. • Canada was the 25th-largest supplier of fish and seafood products to the GCC, with a market share of only 0.3% representing a value of just over US$2.9 million in 2014 (based on Global Trade Atlas data). This, however, represents an increase of 12.0% from 2013, due in large part to an increase in the imports of fresh and frozen Canadian lobster. • The leading products imported by the GCC from Canada in 2014 included fresh lobster (US$1.5 million), frozen lobster (US$1.1 million), frozen fish (US$46,456), frozen/dried scallops (US$42,677) and frozen sole fillets (US$38,005). Lobster exports made up 89% of all Canadian fish and seafood exports to the region. • The GCC was Canada’s 34th-largest destination market for fish and seafood products, and received less than 1% of Canada’s global exports in 2014. • In comparison, the United States (U.S.) was the world’s fourth-largest fish and seafood products exporter with sales of over US$6.3 billion, and the eight-largest supplier of fish and seafood products to the GCC, with sales of US$19.6 million in 2014. This represents an increase of 13.6% over 2013. • Although, U.S. exports to the GCC of fish and seafood products are diversified, a large portion (22.0%) is comprised of fresh/chilled lobster (US$3.1 million), frozen/dried scallops (US$2.5 million), frozen fish (US$1.2 million), frozen lobster (US$1.2 million) and fish fats and oils (US$0.9 million). • In 2014, the main fish and seafood exporting U.S. states were Massachusetts with exports valued at US$4.4 million, New Jersey (US$3.7 million), California (US$2.6 million), Washington (US$2.4 million and New York (US$2.4 million). TRADE • In 2014, the GCC imported 56,436 tonnes of prepared tuna and skipjack, valued at more than US$263.5 million. For high-end products such as lobster, the GCC imported about US$16.8 million representing a volume of 1,054 tonnes. Top Ten Suppliers of Fish and Seafood Products to the GCC and Top Imported Products in 2014 (Based on the world exports to the GCC) Total Import Value Top Import Value Rank Country Top Import Supplied (US$) (US$) World 995,572,450 Prepared tuna/skipjack/bonito 263,500,951 1 India 304,774,133 Frozen shrimp and prawns 196,678,170 2 Thailand 226,462,782 Prepared tuna/skipjack/bonito 178,532,105 3 Indonesia 69,521,830 Prepared tuna/skipjack/bonito 56,476,169 4 China 66,761,541 Frozen or dried squid/cuttle fish 23,284,818 5 Norway 59,390,678 Fresh/chilled salmon 35,082,967 6 Taiwan 46,062,466 Frozen fish 31,329,427 7 United Kingdom 28,855,986 Fresh/chilled salmon 14,778,476 8 United States 19,650,141 Fresh/live/in brine lobster 3,104,894 9 Italy 18,161,506 Tuna/skipjack/bonito, not minced 16,253,902 10 Japan 16,570,467 Prepared mackerel 7,004,567 25 Canada 2,986,005 Fresh/live/in brine lobster 1,578,585 Source: Global Trade Altlase, 2015 Page | 2 Top Ten GCC Fish and Seafood Imports from the World in 2014 2014 Import Value % Share of Rank HS Code Products (US$) Total Imports 1 160414 Prepared tuna/skipjack/bonito 263,500,951 26.47 2 030617 Frozen shrimp and prawns 220,362,823 22.13 3 030389 Frozen fish 69,055,593 6.94 4 030214 Fresh or chilled salmon 50,224,566 5.04 5 030749 Frozen or dried cuttle fish and squid 31,707,437 3.18 6 030323 Frozen tilapia 29,117,934 2.92 7 030481 Frozen salmon fillets 17,705,371 1.78 8 160413 Prepared sardines 16,124,255 1.62 9 030619 Steamed/boiled or frozen crustaceans 14,552,984 1.46 10 030289 Fresh or chilled fish 13,284,192 1.33 Source: Global Trade Atlas, 2015. • The GCC has rapidly emerged as a powerhouse in the culinary scene, and the UAE is one of the top destinations for premium seafood products. The booming foreign population, tourism industry and economic progress in the region have fuelled an increasing demand for high-end seafood products such as lobsters, scallops, and other high-quality fish. • According to the FAO statistics, the average per capita consumption of fish and seafood for the Middle East in 2010 was 9.9 kg per year and growing. When taking only the GCC region into consideration however, the average per capita consumption is significantly higher at 14.4 kg per year. • More specifically, the UAE has one of the world’s highest seafood consumption rates, estimated at 28.6 kg per year. Other countries in the region, such as in Qatar, also have a high seafood consumption rate at 24.5 kg per year, respectively (FAO Statistics). These factors alone could create opportunities for Canadian fish and seafood exports to the region. • When looking at only lobster and lobster products suppliers to the GCC in 2014, India was that top supplier with sales of US$6.1 million and a market share of 36.4%, followed by the U.S. with US$5.4 million (32.1%) and Canada with sales reaching over US$2.6 million (15.9%). The top three supplying countries made up 84.4% of the overall market share thus indicating a very concentrated supply environment. In 2014, Canada experienced an increase in lobster sales of 33.8% and an increase in market share of 9.2% from a 6.7% in 2013. Top Ten GCC Lobster Suppliers 2012-2014 Total Import Value (US$) % Share of Total Imports Rank Country 2012 2013 2014 2012 2013 2014 World 21,052,661 29,805,664 16,857,731 100.00 100.00 100.00 1 India 6,517,887 17,925,724 6,141,615 30.96 60.14 36.43 2 United States 6,836,430 6,019,451 5,411,601 32.47 20.20 32.10 3 Canada 1,963,697 1,999,784 2,675,321 9.33 6.71 15.87 4 Brazil 1,455,835 1,252,922 846,259 6.92 4.20 5.02 5 Singapore 1,286,401 1,083,530 733,515 6.11 3.64 4.35 6 Australia 477,192 349,236 383,920 2.27 1.17 2.28 7 United Kingdom 76,562 37,442 180,656 0.36 0.13 1.07 8 France 548,875 787,581 113,411 2.61 2.64 0.67 9 Netherlands 400,128 152,159 110,254 1.90 0.51 0.65 10 Thailand 5,510 20 93,535 0.03 0.00 0.55 Source: Global Trade Atlas, 2015. Page | 3 GCC’s Top Five Lobster and Lobster Product Imports, US$ Millions Total Value HS Value Market Share US$ million Product Description of imports Code 1 2 3 ($) India United States Canada 030612 Frozen lobster 6,732,423 3.7M 1.2M 1.0M United States Canada India 030622 Live/fresh lobster 5,128,815 3.1M 1.5M 0.2M Frozen rock lobster and other India Brazil United States 030611 3,989,914 crawfish 2.1M 0.8M 0.7M Live/fresh rock lobster and Australia India Netherlands 030621 607,740 crawfish 0.3M 0.1M 0.04M United States Singapore France 160530 Prepared lobster 398,840 0.3M <0.001M <0.001M Source: Global Trade Atlas, 2015.
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