December 8th, 2016 — Growth in global fish production is expected to slow slightly this year, driven primarily by lower catches of major wild species such as Alaska pollock and anchoveta. Production solely from aquaculture continues to increase at a steady rate with a further 5 percent increase in total volume expected in 2016. Driven by higher incomes and urbanization, global consumption of fish is growing at a faster rate than global population, meaning that per capita consumption is rising each year by approximately 1 percent. In 2016, expected per capita consumption is 20.5 kg per year, compared with 20.3 kg in 2015 and 17.6 kg a decade ago in 2006. Another important figure is the proportion of fish produced by the aquaculture sector for human consumption, forecast to reach 53 percent this year, a trend that is only going up in the foreseeable future.
The total value of world trade in seafood products is expected to bounce back this year after a drop in 2015, to US$140 billion, representing a 4.4 percent increase, although this is still well below the 2014 total of US$148.4 billion. This return to growth in value terms is partly due to a stabilization of the US dollar after a sharp increase versus multiple currencies in 2015, but it is also a consequence of improved prices for a number of highly traded seafood commodities. Salmon prices, in particular, have been reaching extreme peaks in 2016, while tuna prices have also risen after a period of sustained lows. Supply constraints are part of the reason for the price gains, but demand growth is also a contributing factor.