The price of frozen block surimi made from threadfin bream (Itoyori) in India has increased by approximately 10% year-on-year, driven by a spike in demand from China, according to a marketing director at a major Indian surimi production company.
“Since March, we’ve seen a sharp rise in inquiries from Chinese buyers,” the executive said. “Vietnam’s surimi production has declined significantly, prompting buyers to shift to Indian-origin products.”
According to the executive, Indian itoyori surimi with a gel strength of 600–800 and no added dried egg white is currently selling in China at around $3.10/kg, up from $2.80–$2.85/kg during the same period last year.
Higher-grade surimi with a gel strength of 800–1000 is now being offered at $3.30/kg, compared to $2.90–$2.95/kg a year ago.
Premium surimi with gel strength exceeding 1000 has also risen in price — from $3.10/kg last year to approximately $3.40/kg currently.
India’s threadfin bream fishing season typically runs from August to May. However, this year’s conditions have been far from ideal.
“Raw material landings during the peak months of August through December are down by almost half compared to last season,” the executive said.
“Last year’s low catch prices discouraged many fishermen from going to sea. Although prices have improved this season, fishermen are still struggling to locate fish schools — likely due to changing ocean conditions.”
Source: VASEP