Trade Data

China's Ribbon Fish (HS: 03028910) Import and Export Analysis Report for 2026

     Key Findings: Small Exports, Large Imports, with Export Unit Price Higher than Import Unit Price

     From January to June 2026, China's exports of fresh or chilled ribbon fish (HS code 03028910) totalled approximately USD 1,182,245, down about 16.1% year-on-year; export volume was approximately 167,028 kg, down about 2.1% year-on-year. During the same period, imports reached about USD 10,181,053, up about 16.0% year-on-year; import volume was about 3,507,699 kg, up about 12.9% year-on-year. Import value is about 8.6 times that of exports, presenting a typical net-import pattern. Notably, the average export unit price was about USD 7.08/kg, which is actually higher than the average import unit price of USD 2.90/kg (about 2.4 times), reflecting a division of labour: "importing whole frozen raw materials and exporting high-grade chilled finished products."

I. Ribbon Fish Import and Export Data Overview

     The following tables show monthly and cumulative export and import values (in USD) and volumes (in kg) for January–June 2026. Year-on-year changes are calculated based on the same month of the two years.

1. Monthly Export Data (Value in USD / Volume in kg)

2. Monthly Import Data (Value in USD / Volume in kg)

II. Export and Import Markets (January–June 2026)

     Top 3 Export Markets:Hong Kong, China (USD 1,147,484); Thailand (USD 11,293); Canada (USD 8,601).

     Top 3 Import Sources:Taiwan, China (USD 7,006,551); Indonesia (USD 2,770,004); South Korea (USD 404,498).

Top 6 Export Destinations by Value

Top 3 Import Sources by Value

III. In--Depth Data Interpretation

Structural Characteristics

     Imports far exceed exports, showing a net‑import pattern.In the first half of the year, import value of USD 10,181,053 was about 8.6 times that of export value (USD 1,182,245); import volume was about 21 times that of exports. China is a major consumer and processor of ribbon fish, heavily reliant on imports for raw materials.

     Export unit price is higher than import unit price.The average export price of about USD 7.08/kg is roughly 2.4 times the average import price of USD 2.90/kg. The root cause is that exports are mainly high-quality chilled ribbon fish destined for Hong Kong and Japan, while imports are mostly whole frozen raw materials from Taiwan and Indonesia – the two are not in the same value tier.

     Markets are highly concentrated with divergent structures.Exports are 97% concentrated in Hong Kong, China; imports are 69% from Taiwan, China and 27% from Indonesia – the top two sources together account for about 96% on both sides of trade.

Analysis of Key Markets

     Hong Kong, China (export): destination for 97% of exports.Hong Kong accounts for about USD 1,147,484 and 164,897 kg, representing 97% of total export value, at a unit price of USD 6.96/kg. Hong Kong serves as the primary gateway for mainland chilled ribbon fish to high‑end catering and retail channels, with channel value far exceeding its local consumption.

     Taiwan, China / Indonesia (import): core supply sources.Taiwan (USD 7,006,551) and Indonesia (USD 2,770,004) together account for about 96% of total import value. Taiwan supplies stable near-shore catches, while Indonesia is Southeast Asia's largest source of raw material, at a unit price of about USD 4.33/kg.

     Japan (export): small volume, high premium.Exports to Japan are only 143 kg, but the unit price is as high as USD 44.15/kg – typical sashimi-grade premium product. Although the volume is small, the premium margin is considerable and represents a lever for raising overall export value.

     Significant seasonal volatility.Import values showed a high-to-low pattern in 2025 (from USD 4,291,211 in January down to USD 69,585 in June), while in 2026 they rebounded to USD 1,058,476 and USD 1,143,964 in May-June. Exports also fluctuated markedly month-to-month, closely tied to fishing moratoriums and holiday-related raw material supply cycles.

IV. 2026 Import and Export Trend Outlook

Positive Factors:

    · Import demand is recovering.May-June 2026 imports rebounded to USD 1,058,476 and USD 1,143,964, indicating improving processing and consumption sentiment.

    · Clear export unit price advantage.Chilled ribbon fish averages USD 7.08/kg, and the Hong Kong premium channel remains solid.

    · High premium potential in markets like Japan.Sashimi-grade ribbon fish prices exceed USD 40/kg, offering a profit‑enhancing breakthrough.

    · Growing domestic chilled processing capacity.Upgraded cold chain and sorting capabilities support higher-value-added exports.

Negative Factors:

    · Overall export decline.First-half export value fell about 16.1% year-on-year, with volume down only slightly but value falling.

    · Over-reliance on Hong Kong for exports.At about 97% concentration, any demand fluctuation in Hong Kong would heavily impact overall exports.

    · Over-concentration of import sources. Taiwan and Indonesia account for about 96%, leaving the supply chain vulnerable to shifts in origin sources and policy changes.

    · Seasonal volatility.Fishing moratoriums and holidays cause sharp monthly fluctuations, complicating production scheduling and inventory management.

Trend Forecast:

    · Imports to maintain growth.Supported by domestic processing demand, full‑year import value is expected to exceed last year's level.

    · Exports to remain Hong Kong-dominant.The Hong Kong channel is irreplaceable in the short term, and total exports will fluctuate with its rhythm.

    · High-end chilled products to capture premiums.Markets like Japan offer high unit prices and are the main direction for export quality improvement.

    · Seasonal volatility to continue.Fishing moratoriums and holidays will still cause significant month-to-month swings.

V. Foreign Trade Recommendations

Market Development Strategies

    · Consolidate the Hong Kong chilled fish channel – stabilise this core window, which accounts for over 90% of exports, and deepen cooperation with seafood wholesalers and high-end catering.

    · Explore the high-end markets of Japan and South Korea – introduce sashimi-grade and deboned/prepared products to capture higher unit prices.

    · Diversify import sources – expand supply from ASEAN countries (Vietnam, Malaysia) beyond Indonesia to reduce single‑source dependency.

Product Strategy Recommendations

    · Develop chilled and deep‑processed products – deboned, seasoned, and pre‑prepared items to increase unit value, targeting sashimi‑grade standards.

    · Implement tiered pricing – grade products by size and freshness to effectively capture premiums on high-quality goods.

    · Strengthen cold chain and traceability – support high-end market access with consistent quality.

Channel Optimisation Suggestions

    · Secure distribution networks in Hong Kong – establish long-term supply relationships with established wholesalers to reduce intermediate mark-ups.

    · Build stable import supply chains – sign medium-to-long-term contracts with fishing and processing enterprises in Taiwan and Indonesia to smooth seasonal gaps.

    · Explore e-commerce and new retail – develop branded small‑pack products targeting premium consumer segments.

Risk Management Recommendations

    · Guard against supply disruptions during fishing moratoriums – maintain advance stocking and safety inventory to smooth monthly fluctuations.

    · Reduce Hong Kong concentration risk – cultivate secondary markets such as Japan and South Korea to diversify reliance.

    · Monitor import inspection and disease risks – strengthen source inspection and compliance to avoid losses from return shipments.

Closing Remarks

    Fresh or chilled ribbon fish exhibits a classic "small exports, large imports" pattern, with import value about 8.6 times that of exports, yet export unit prices are higher than import prices – reflecting China's international division of labour as "importing whole frozen raw materials and exporting high-grade chilled finished products" in this category. The dual concentration – exports heavily reliant on Hong Kong and imports heavily reliant on Taiwan and Indonesia – represents the main operational risk going forward. It is recommended to consolidate the Hong Kong chilled-fish channel and seek premiums in high-end markets like Japan, while simultaneously diversifying import sources to build a more balanced supply-demand structure that can better weather seasonal and concentration-related uncertainties.