冻品攻略

Eel Supply Oversupply Breaks Prices, Industry Weighs Catch and Import Restrictions

Source: 冻品攻略2026-04-14 08:000 views0 comments

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China's eel industry has begun discussing stronger supply-control measures. The latest market information shows that after two consecutive bumper seasons for eel fry in East Asia, the supply of Japanese eel (Anguilla japonica) fry has been notably loose, Chinese market prices have continued to decline, and operating pressure on both the farming and processing sides has risen in tandem. As the world's largest eel farming country, China is the first to feel the impact of this round of supply expansion.

On March 27, the Eel Industry Working Committee of the China Fisheries Association held an executive meeting in Fujian and formed several market-stabilizing proposals, including a one-year moratorium on fishing for Japanese eel fry, a suspension of imports of American eel (Anguilla rostrata) fry, the establishment of a nationwide minimum purchase price mechanism, the promotion of 10,000 tonnes of domestically produced kabayaki eel for domestic sale, and the organization of expanded domestic consumption. These proposals remain primarily industry initiatives and do not yet reflect clear administrative enforcement, but the market has already sensed a rising mood of self-rescue across the industry chain.

The backdrop to this round of supply-control discussion is straightforward. In the 2025 season, Japanese eel fry catches in the four East Asian countries exceeded 100 tonnes, and the 2026 season has so far approached 70 tonnes, with the high-supply situation continuing and pushing down prices in the Chinese market. For farmers, the balance among fry stocking costs, the farming cycle and downstream selling prices is being broken; for processing enterprises, abundant raw material has not brought better profits but instead has put pressure on finished-product sales.

The Japanese market is likewise affected by the spillover of Chinese supply. Market sources indicate that the price gap between domestically produced live eel in Japan and live eel imported from China has narrowed to about 150 yen per kilogram, eroding the sales space for Japanese domestic product. Retail prices for kabayaki eel have shown no notable change for several months, end demand lacks sufficient elasticity, and channels find it difficult to quickly absorb the additional supply through either price increases or higher volumes.

In recent years, demand for reheated frozen kabayaki eel promoted by Japanese chain restaurants also began to weaken after the second half of 2025. Chinese supply continues to be released into export markets, price competition has intensified, the number of operators in the Japanese market adding Chinese-produced eel products has increased, and market order is under greater pressure. China's industry proposals at this time for catch limits, import limits and a minimum purchase price are essentially seeking buffer space for the farming, processing and export sides.

The problem right now is not that the market has no fish, but that there is too much fish, prices are too low, and consumption cannot absorb it. China's eel industry chain has shifted from simple expansion of production to how to stabilize prices and inventories.