SEAFOOD DEMAND SOARS, BRINGING LUNAR NEW YEAR WINDFALL FOR FISHERMEN

By Vijian Paramasivam

PHNOM Penh, Feb 11 (Bernama) -- Demand for seafood is sizzling as communities around the world prepare to usher in the Lunar New Year with auspicious dishes and family feasts later this month.

The Year of the Horse in the Chinese zodiac is proving prosperous for fishermen, as they brave rough seas to supply the flourishing festive market.

Vietnam’s coastal communities — among the world’s leading seafood exporters — are in a euphoric mood as the country posted a 13 per cent jump in exports in January, earning RM3.4 billion (US$874 million), reported Vietnam News.  

“Demand for seafood in China and key Southeast Asian markets is expected to strengthen noticeably ahead of the Lunar New Year, with consumption skewed toward fresh, live and higher-value products. 

“In particular, demand for sashimi-grade tuna typically increases during the festive period, supported by stronger foodservice activity and higher household spending,” Malaysia-based Infofish’s Trade Promotion Officer Sharmaine Siaguru-Gauthier told Bernama.

Infofish is an intergovernmental organisation established by the Food and Agriculture Organisation of the United Nations.

There is burgeoning demand for fish, shrimps, pangasius, squid, octopus and lobsters, as more than a billion people across the planet are readying to celebrate the annual festival that falls on Feb 17.

Farmed shrimp supply across Asia remains seasonally tight until February, while demand for live and fresh shrimp is projected to rise sharply in major markets, including China, Malaysia, Singapore, Taiwan, Hong Kong and Macau, said Sharmaine.

“This combination of seasonal supply constraints and festive restocking is already supporting firmer prices along the supply chain.

“In addition, the start of Ramadan in mid-February is expected to temporarily slow aquaculture activities in Indonesia and southern Thailand, which will further tighten regional shrimp availability and help keep prices elevated through the end of February,” she said. 

Myanmar, another major seafood producer, exported 227,000 tonnes of fish worth RM1 billion (US$279 million) in the first nine months of 2025.

Fishery products like hilsa, rohu, river catfish, seabass, eel, shrimp and crab were exported mainly to  China, its major buyer. 

The rise in seafood demand ahead of the Lunar New Year is driven by long-standing cultural traditions, increased trade flows to key markets, and businesses ramping up supplies in preparation for one of the biggest seasonal consumption periods of the year.

However, the United States (US) reciprocal trade tariffs are starting to pinch seafood producers. 

According to Infofish, higher US tariffs introduced from late August 2025 have already begun to weigh on seafood exports from major Asian suppliers, including Vietnam and Indonesia.

The US imports of non-canned tuna declined year-on-year during January-October 2025, with frozen tuna fillets recording a particularly sharp contraction, and shipment volumes falling across all major supplying countries.

“A similar trend is evident in shrimp, where US import volumes declined during the same period following the introduction of higher tariffs.

"While part of the annual trade was supported by earlier front-loaded shipments, the post-tariff environment has clearly softened demand and reduced the competitiveness of regional exporters. 

“As a result, suppliers such as Vietnam and Indonesia are increasingly exposed to weaker US buying interest and are expected to place greater emphasis on alternative markets, particularly within Asia and China, where seasonal demand is currently strengthening,” said Sharmaine.

-- BERNAMA