Fishing Sector: Opportunities for the Region

The growing uncertainty about the safety of seafood products exported from China, one of the world's leading producers, could represent an opportunity for Central American countries to gain some insight into the global market.

Wednesday, September 16, 2020

In this context of new commercial reality, the retail channel will continue to be the main demander in the short term for products that are easy to prepare such as tilapia, salmon, trout, shrimp and others with which consumers feel more comfortable cooking at home.

You may be interested in "Food for Shrimp: Players in Central America"

According to the study carried out by the Promotora de Comercio Exterior (Procomer), "... It is also important for the sector to seek a greater diversity of clients, especially in the retail or institutional channel, since the traditional HORECA will probably continue to have a much lower demand. This will also have to go hand in hand with a restructuring of the pricing strategy, since these channels, and in general the final consumer, are not willing to pay the prices that restaurant or hotel chains have normally paid. In the short term a reduction in the volume demanded is expected, but above all a reduction in prices."

See "Seafood: Preferences and Potential Demand"

A trend that accelerated with the arrival of the pandemic and that can be capitalized on is the increased attention that consumers are paying to their diet and the nutritional contributions of the products they consume.

In this sense, the fishing industry has the advantage that it is very well positioned as a source of healthy and nutrient-rich protein, so finding ways to get these messages across as well as those that are easy to prepare at home could facilitate this transition of marketing channels, the document states.

Download full report (in Spanish).

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In the past year, the Colombian fish imports increased 42%, due to difficulties of local industry in supplying domestic demand.

From a statement issued by the Costa Rica Foreign Trade Promotion Office of (PROCOMER):

The Colombian fishing industry is going through tough times due to various reasons such as resource depletion, pollution, oil and mining spills , increased cost of materials especially related to fuel prices, which has led to a considerable decrease in fish production.

Opportunity for Seafood in Canada

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Fish which undergoes long-term processing such as canned fish, seafood and prepared fish dishes represents 52% of the retail market for processed fish, followed by frozen and refrigerated fish.

From a statement issued by the Foreign Trade Promotion Office of Costa Rica (PROCOMER):

Opportunity for Seafood in U.S.

July 2014

85% of the seafood consumed by Americans is imported, with shrimp, freshwater fish fillets and crab having the largest volume of all such goods imported from abroad.

From a statement issued by the Costa Rican Foreign Trade Promotion Office:

Some time ago, the USA depended only on shellfish fished on its coasts, the state of New York was famous for its oysters and Louisiana and Mississippi for its prawns, but things have changed.

Fish Exports From Nicaragua Growing

February 2014

In 2013 total production increased by 8% and foreign sales of fish, shrimp , lobsters and seafood, by 28%.

Fish production last year grew by 8%, with farmed shrimp products having the largest increase. Foreign sales of fish, shrimp, shellfish and lobsters reported a 28% increase compared to 2012, going from $192 million to $246 million at the end of 2013, according to statistics from the Center for Exports.

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