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EP 617 | AIRED 11/28/2022
Nov 28th, 2022 - Although cases have settled down in Qingdao, COVID-19 continues to hamper China as cases have now spread into 2 major southern cities.
Fish plants are still open, and the prospects of China gradually opening up are on the table as the Government is said to be currently testing 16 new vaccines.
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The upcoming Chinese New Year is on January 21st 2023 and plants would have normally been closing around January 10th.
The market has changed to a buyer’s market now with sales to the EU and North America slow, and no signs of picking up.
Except the sales of salted products are actually steady.
Some buyers are still taking high-end salted fillets, which are processed from longline Pacific Cod from Alaska.
Salmon packers are saying Salmon pricing won’t go up higher even if there is no fish available.
Instead, it might actually soften a bit after the Chinese New Year break.
This is a developing story as we continue to gather updates from China so keep tuned-in by subscribing to the Tradex Foods "3-Minute Market Insight"