Chinese caviar is gaining popularity on tables around the world thanks to improved quality and efficient transportation and cold storage systems, making the country the world's largest exporter of caviar despite US tariffs.
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| A worker checks the quality of caviar at the Kaluga Queen production facility in Zhejiang province, China. (Source: SCMP) |
Data from the International Trade Center (ITC) shows that China exported 276 tonnes of caviar to the global market in 2023, up 3% from a year earlier and nearly double the 140 tonnes exported in 2019.
Selling at $300 per kilogram, up 4% year-on-year, China's caviar exports earned $82.7 million in 2023, accounting for about 40% of the global market share.
“At first, our caviar faced doubts from overseas customers about the quality of Chinese food,” said Wang Bin, chairman of Hangzhou Qiandaohu Xunlong Sci-Tech Caviar Maker, famous for its Kaluga Queen brand. “However, with superior quality, competitive prices and exceptional customer service, Chinese caviar has gradually captured a larger share of the global market in recent years.”
In terms of total output, China now accounts for more than 50% of the world's annual output, Mr. Wang said. The largest importers include the United States and countries in the EU.
In 2018, when the trade war between the two superpowers, the US and China, broke out, Washington imposed an additional 25% tariff on a series of Chinese goods, including caviar, raising the tax rate from 15% to 40%.
However, contrary to initial concerns that the additional tariffs could hamper caviar exports from China, Beijing remains Washington's most important source of caviar imports.
According to official trade data, in 2023, 60% of caviar imported in the US came from China.
“Although this is a luxury and expensive dish, for gourmet consumers, quality is still the top priority. Price fluctuations are less important as long as the taste remains exquisite,” Mr. Wang explained.
According to the Chinese producer, technological breakthroughs have allowed his company to breed a unique breed of sturgeon that produces large, flavorful eggs that mature faster, improving quality and productivity.
Thanks to that, Chinese caviar still maintains a price advantage over countries that have historically specialized in supplying this item such as Iran or France.
In 2023, Iranian caviar exports will cost more than $2,000 per kilogram, six times more than Chinese caviar. According to the ITC, French caviar will cost about $700 per kilogram, double the price of Chinese caviar.
China's technological advances in storing and transporting caviar have helped producers save costs, said Shawn Wang, marketing director at Tendata, a Shanghai-based global trade data provider.
“China’s robust cold chain logistics system gives it a significant advantage in the global market. Companies can now seamlessly move temperature-sensitive goods from farms to factories to processing plants and finally to international customers at a relatively low cost compared to many competitors in developed countries,” said Shawn Wang.
But while caviar is popular globally, the nutritious food has yet to gain traction in the domestic market. Wang Bin said that only 20% of his company’s caviar sales come from the domestic market.
"China is gradually opening up to foreign cuisines and it will be a big market for Western foods. I believe that caviar will eventually become popular in China. Moreover, in case of any further trade barriers in the future, increasing domestic sales will also help to minimize the impact on producers," said Mr. Wang Bin.
Source: https://baoquocte.vn/trung-quoc-bo-tui-hang-chuc-trieu-usd-moi-nam-nho-cung-cap-mot-thuc-pham-xa-xi-cho-gioi-nha-giu-the-gioi-279066.html
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