September 26, 2024

 

Multiple drops in China's aquafeed output in H1 2024

 

In the first half of 2024, China's total aquafeed output was 9.28 million tonnes, dipping 4.95% from H1 2023.

 

Freshwater aquafeed, which accounted for about 85% of total output, decreased by 5.61% in H1 2024 to 7.91 million tonnes — within the segment of freshwater aquafeed, freshwater fish feed accounted for 80-85% of output. The output of freshwater fish feed in H1 2024 was 6.03 million tonnes, a year-on-year drop of 6.27% from H1 2023.

 

The output of seawater aquafeed dropped 0.97% on-year in H1 2024 to 1.37 million tonnes. For seawater feed, the output of fish feed was 0.99 million tonnes in H1 2024, falling by 10.73% on-year. However, the output of other seawater feed surged 38.10% on-year to 0.38 million tonnes, helping to mitigate the drop in the output of marine fish feed.

 

The five key aquafeed-producing provinces (Guangdong, Jiangsu, Hubei, Fujian, and Hunan), which account for 75% of China's aquafeed production, saw a year-on-year drop of 5.99% in H1 2024.

 

Hunan's freshwater fish feed, which accounts for nearly 85% of its production, saw its production volume slide by more than 13% in H1 2024.

 

Over 99% of Hubei's aquafeed output is freshwater feed. In H1 2024, the drop in freshwater feeds for other species exceeded 13%, registering the sharpest drop among all types of aquafeed in Hubei.

 

In the first half of 2024, the volume of Fujian's freshwater feed production shrank more than 12%. However, seawater feed output expanded by 2.72% year-on-year.

 

Jiangsu is the second biggest aquafeed-producing province in China, with freshwater feed output accounting for about 90%. The province's freshwater fish feed recorded a mild production drop of 4.5%, while the output of other freshwater feeds fell by less than 6.5%.

 

Guangdong is China's biggest aquafeed-producing, with freshwater feed accounting for 78% of total production and fish feed making up for about 90% of freshwater feed. The decline in the province's seawater feed was less than 3%. Among the five major provinces, Guangdong's aquafeed output recorded the smallest year-on-year drop in H1 2024.

 

Based on the data of each quarter in the first half of 2024 (which shows a steady decline), China's aquafeed output in the second half of the year is expected to diminish compared with the second half of 2023.

 

- Shi Tao