Demand for roasted eels has soared and the price of American eels in China has risen

Recently, the latest data released by the Japanese Ministry of Finance shows that in September 2024, the number of roasted eel imported from the Chinese mainland increased significantly, reaching a total of 1070 tons, doubling year-on-year. This growth is driven by strong demand for processed eels in Japan and reflects the growing importance of domestic American eels in the international market.

Imported processing eel hit the second highest in six years, and the market demand is strong

In September 2024, Japan imported 1,070 tons of roasted eels from the Chinese mainland, the second highest in the past six years, behind the 1,105 tons in the same period in 2020. Data show that in the first nine months of this year, the total amount of imported eel processing in Japan has reached 18,514 tons, an increase of 20%. Although the average price of imported roasted eels was 2,455 yen/kg in September, down 19 yen year-on-year, the average price for the whole year still rose to 2,616 yen/kg.

Industry analysts pointed out that the significant growth of imports is inseparable from the strong demand of the Japanese catering market.​

The rise of the American eel: Price performance and supply stability are key

It is worth noting that due to the high price of Japanese eel, the more cost-effective American eel is gradually becoming the new favorite of Japanese merchants.

The Japanese eel industry pointed out that there is uncertainty about the fishing prospects of Japanese eel larvae in the new season, and the continuous increase in the price of American eel larvae has further pushed up the cost of Japanese eel. In contrast, with its stable supply and price advantages, American eel has become the first choice for many businesses to avoid price risks.

The market for American eels from the Chinese mainland is also rising in this trend.​

Price movements are closely related to seedling conditions

Despite the strong performance of the American eel market, its future price trend is still closely related to the level of catch of Japanese eel seedlings in the new season. At present, the new season has not been accurately predicted, but if the fishing level is low, it is expected to further boost the market for American eel. In addition, external factors such as exchange rate fluctuations and the global economic situation may also have an impact on market prices.

Reference : FOODSPATH