Seafood Report By Jennifer MacKay and Stefan Friedman-Gerlicz Department of Research AmCham Chile August 2008

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1 Seafood Report By Jennifer MacKay and Stefan Friedman-Gerlicz Department of Research AmCham Chile August 2008

2 U.S. Global Seafood Imports In 2007, the U.S.A. imported a total of US$10.6 billion (US$10,660,426,824) of seafood from countries all over the world. US seafood imports come from a total of 140 countries, the top 10 of which occupied 73% of the total value imported (in US$) in The top ten seafood exporters to the U.S. in decreasing order include Canada (18%), China (15%), Chile (9%), Thailand (8%), Indonesia (6%), Vietnam (5%), Ecuador (4%), Mexico (4%), Russia (4%), and India (2%). Top Seafood Exporting Countries to the USA (US$) in 2007 Iceland - 1% Others - 15% Canada - 18% New Zealand - 1% Taiwan - 1% Philippines - 1.2% Norway - 1.3% Malaysia - 1.3% Honduras - 1.4% Japan - 2% China - 15% India - 2% Russia - 4% Mexico - 4% Ecuador - 4% Chile - 9% Vietnam - 5% Indonesia - 6% Thailand - 8% Canada China Chile Thailand Indonesia Vietnam Ecuador Mexico Russia India Japan Honduras Malaysia Norway Philippines Taiwan New Zealand Iceland Others Worldwide seafood products entering the U.S. include fish and crustaceans in varying forms, such as live fish, frozen and fresh fillets, and cooked items. Approximately 46% of the seafood imports are of the crustacean variety, in all forms (live, frozen, cooked, etc). Shrimp represents 61% of all crustacean imports, followed by lobster at 19% and crab at about 18%. Fish fillets represent 31% of total seafood imports (33% fresh or chilled and 64% frozen), while only 10% of seafood imports to the U.S.A. are whole fish, in fresh or 2

Top Seafood Exporting Countries to the USA (US$) in 2007 Iceland - 1% Others - 15% Canada - 18% New Zealand - 1% Taiwan - 1% Philippines - 1.2% Norway - 1.3% Malaysia - 1.3% Honduras - 1.

3 chilled form. The U.S. imports a minuscule amount (.5%) of live fish USA Seafood Imports by Category 0,5% 10% 6% 5% 2% 46% Crustaceans (Live, Fresh, Cooked Etc.) Fish Fillets & Other Fish Meat, Fresh, Chilled Or Frozen Fish, Fresh Or Chilled (no Fillets Or Other Meat) Molluscs & Aqua Invert Nesoi, Live Etc. Fish, Frozen (no Fish Fillets Or Other Fish Meat) Fish, Dried, Salted Etc, Smoked Etc Fish, Live 31% U.S.A.- Chile Bilateral Seafood Trade Once the free trade agreement (FTA) between Chile and the United States became effective, Chilean exporters took advantage of the elimination of seafood tariffs and now represent 9% of the total US seafood imports. Chile is the third largest import source of seafood to the US behind Canada (18%) and China (15%). Ninety percent of the seafood exported to the US from Chile takes the form of fish fillets (fresh, chilled, or frozen). Chile exports a variety of fish to the US. 1. However, Salmon is by far the largest and most important export. Of all the seafood exported to the US from Chile, 88% of it is salmon; Trout is a distant second at 3%. 1 Fish varieties include Salmon, Trout, Flatfish, Perch, Halibut, Orange Rough y, Flounder, Mackerel, Flatfish, Rock Lobster, Tuna, Shrimps and Prawns, Dogfish, Crab, Shark, King Crab, Sword Fish, Snow Crab, Toothfish, Crustaceans, Pike, Scallops, Bass, Mussels, Smelts, Squid, Hake, Cuttle, Grouper, Sea Urchin, Whiting, Conch, Tilapia, and Abalone. 3

Fish, Frozen (no Fish Fillets Or Other Fish Meat) Fish, Dried, Salted Etc, Smoked Etc Fish, Live 31% U.S.A.

4 Fish Exports from Chile to USA by Category 3.2% 0.5% 1.0% 1.8% 2.8% Fresh Or Chilled (no Fillets Or Other Meat) Fish, Frozen (no Fish Fillets Or Other Fish Meat) Fish Fillets & Oth Fish Meat, Fresh, Chill Or Froz Fish, Dried, Salted Etc, Smoked Etc; Ed Fish Meal Crustcns Lve Frsh Etc, Ckd Etc Molluscs & Aqua Invert Nesoi, Lve Etc. 90.7% Types of Fish Exported to USA from Chile Trout - 3% Others - 9% Salmon Trout Others Salmon - 88% Others Include: Halibut, Orange Roughy, Flounder, Mackerel, Flatfish, Rock Lobster, Tuna, Shimps and Prawns, Dogfish, Crab, Shark, King Crab, Sword Fish, Snow Crab, Toothfish, Crustaceans, Pike, Scallops, Bass, Mussels, Smelts, Squid, Hake, Cuttle, Grouper, Sea Urchin, Whiting, Conch, Tilapia, Abalone 4

Ed Fish Meal Crustcns Lve Frsh Etc, Ckd Etc Molluscs & Aqua Invert Nesoi, Lve Etc. 90.

5 Exports can be measured in two ways, by quantity or by value. By analyzing both, one can deduce useful information regarding trade trends. In 2007, Chile exported 121,279, kg of seafood to the U.S.A. The monthly quantities in 2007 are fairly consistent. March 2007 was the highest recorded month in terms of quantity exported at 11,810, kg, with the lowest month being September 2007 at 7,723, kg. The value of seafood exports to the U.S.A. from Chile in 2007 were almost a billion US$ at US$ Throughout 2007, monthly Chilean export values varied quite a bit, with no recognizable pattern. In September of 2007, seafood exports were at their lowest, at $42,305,453.40, whereas they peaked in July at $105,178, Despite this fluctuation in monthly export values, the quantities exported remained relatively constant. The differences between the export values and volume exported indicate that the unit price of seafood exports vary over the different months throughout the year. This could be due to seasonality or market pressures. 5

33 kg, with the lowest month being September 2007 at 7,723,693.63 kg. The value of seafood exports to the U.S.A. from Chile in 2007 were almost a billion US$ at US$909.528.861.

6 2007 Fish Exports to USA from Chile- FOB (US$) by Month US$ , , , , , ,00 0,00 January Febuary March April May June July Month Quantity of Fish Exported to USA from Chile in 2007 by Month August September October November December Kg , , , , , , ,00 0,00 January Febuary March April May June July August September October November December Month The export seafood trade between Chile and U.S.A. has grown 41% in value over the past four years, since the implementation of the FTA in January of In 2004, seafood exports to U.S.A. from Chile were US$ 643,430,296. Four years later, in 2007, seafood exports were US$ 909,528,861. Interestingly, however, the volume of seafood 6

000.000,00 12.000.000,00 10.000.000,00 8.000.000,00 6.000.000,00 4.000.000,00 2.000.000,00 0,00 January Febuary March April May June July August September October November December Month The export seafood trade between Chile and U.

7 exported has decreased by 11% over the same period. In 2004, 136,992,820 kg of seafood were exported to the US from Chile. In 2007, the figure dropped to 121,279,626 kg. Together, these facts indicate the unit price of seafood exported has risen from 2004 to Seafood Exports to US from Chile 2004 to 2007 by Quantity 160,000, ,000, ,000, ,992, ,082, ,484, ,279, ,000, kg 80,000, ,000, ,000, ,000, Total kg 2004 Total kg 2005 Total kg 2006 Total kg 2007 Year Seafood Exports to US from Chile 2004 to 2007 by Value , , , , , , , , ,00 $US , , , , ,00 0,00 FOB 2004 FOB 2005 FOB 2006 FOB 2007 Year 7

00 136,992,820.20 142,082,070.10 117,484,761.40 121,279,626.20 100,000,000.00 kg 80,000,000.00 60,000,000.00 40,000,000.00 20,000,000.00 0.

8 Chile exports to a variety of locations in the US. Florida is the main destination as 61% of all seafood exports land in Miami. Los Angeles and New York City are also principal destinations, occupying 17% and 13% respectively USA Fish Imports from Chile by Location Dallas/Ft. Worth, TX-1% Baltimore, MD-2% Boston, MA-2% Seattle, WA-3% NYC, NY-13% Charleston, SC- 1% Others-2% Miami FL Los Angeles CA New York City NY Seattle WA Boston MA Baltimore MD Los Angeles, CA- 16% Miami, FL-60% Dallas/Fort Worth TX Charleston SC Others All data in this report is located in the trade databases LexisNexis ( or USA Trade Online ( 8

Worth, TX-1% Baltimore, MD-2% Boston, MA-2% Seattle, WA-3% NYC, NY-13% Charleston, SC- 1% Others-2% Miami FL Los Angeles CA New York City NY Seattle WA Boston MA

Inside Mexico Seafood Trade

International Markets Bureau MARKET INDICATOR REPORT MARCH 2010 Inside Mexico Seafood Trade Inside Mexico Seafood Trade TRADE SUMMARY Mexico is a large market and an important trading partner of the Canadian