The price of golden pomfret increased 0.5 yuan/500g,why Golden Pomfret Price Stays Strong Year-Round

Affected by the reduction in the number of fish in ponds, the price of golden pomfret rose overall this week, with a maximum increase of 0.5 yuan. In Zhanjiang area, the price of golden pomfret of various sizes increased by 0.3-0.5 yuan/500g. According to a large farmer in Caotan, although the winter fishing of golden pomfret has just begun, the fish stock in the pond is only 15%-20%. It is expected that the golden pomfret market will be better in the future. Fish prices still have room to rise. According to industry insiders, supply and demand are booming this year, and the new fish are quickly sold out, and some distributors' cold storages are still not saturated. In Guangxi, the stock of golden pomfret in ponds is concentrated in the hands of large fish farmers. The purchase price at the terminal has risen slightly this week, and some distributors have stepped up collection of fish to replenish cold storage.

This year the aquaculture industry is in a sluggish market. For example, the price of sea bass at the pond is 11.8-12 yuan/500g, which continues to hover around the breeding cost line; large yellow croaker has opened high and gone low, gradually approaching the cost line. It is also a sea fish, so why can golden pomfret survive so long and why can farmers still earn 2-4 yuan/500g?

Unique advantages

In fact, the easy preservation of golden pomfret is its greatest advantage. According to industry insiders, golden pomfret is easy to store and will not deteriorate for a long time. Even if it is thawed after freezing for a year, the steamed taste is not much different from the original.

Demand exceeded Supply in the first half of the year

At present, the golden pomfret farming areas in China are mainly in the coastal areas of South China such as Guangdong, Guangxi, and Hainan. According to statistics from the "2023 China Fisheries Yearbook", the national golden pomfret culture output in 2022 was 245,400 tons. Since the lift of restriction for the epidemic in Dec.2022, the circulation speed of golden pomfret has accelerated, causing many companies to be in short supply. Taking Zhanjiang as an example, Zhanjiang's golden pomfret breeding output was about 100,000 tons in 2022, while Zhanjiang customs-supervised exports of golden pomfret products total 11,600 tons. 2,297.19 tons exported from January to April 2023. In the same period, from March to April, the purchase price of golden pomfret at the wharf once soared to 25 yuan/500g.

According to industry insiders, the breeding output this year is expected to be the same as that in 2022. The reason is that the threshold for golden pomfret breeding is high, and the investment cost of equipment, mainly cages, is not easily affordable by ordinary farmers. In addition, feed costs have soared this year, and feed mills are unwilling to give credit, resulting in a decrease in the actual amount of seedlings invested by farmers. According to industry insiders, there is little room for growth in China’s golden pomfret culture production in the short term.

In recent years, domestic and foreign sales of golden pomfret have been boosted in both directions. Taking Zhanjiang as an example, Zhanjiang's golden pomfret breeding output was about 100,000 tons in 2022, while Zhanjiang customs-supervised exports of golden pomfret products was total 11,600 tons. This means Zhanjiang's annual production out of ten fish, at least one is sold abroad. But in fact, Zhanjiang golden pomfret is not only exported abroad from Zhanjiang Port. Constant export orders are one of the main reasons why the price of golden pomfret continues to be strong.

Although the price of golden pomfret skyrocketed from March to April due to insufficient supply, why the price is still so high after the spring fish was put on the market intensively? Distributors in Fangchenggang, Guangxi also said that since the lift of restriction for the epidemic, export orders for golden pomfret have become more popular. Distributors' inventory circulates quickly, both supply and demand are booming.