HS Code:
Bonito (Sarda spp.) falls under the Harmonized System (HS) Code 0302.49 for fresh or chilled fish and 0303.59 for frozen fish, excluding fillets and other fish meat. Bonito, a species of medium-sized, predatory fish in the mackerel family, is widely traded globally for human consumption, often used in canned products, smoked, or as fresh fish in various cuisines. It is particularly valued in Mediterranean, Asian, and Latin American markets. The trade of Bonito is influenced by seasonal availability, fishing quotas, and sustainability concerns due to overfishing in certain regions.
Total Trade Volume
Approximately 250,000 metric tons
Data from 2022
Source
United Nations Comtrade Database and FAO Fisheries Statistics
45,000 metric tons
18% of global trade of total trade
Increasing
40,000 metric tons
16% of global trade of total trade
Stable
30,000 metric tons
12% of global trade of total trade
Increasing
25,000 metric tons
10% of global trade of total trade
Increasing
20,000 metric tons
8% of global trade of total trade
Stable
Average Rate
7.5% ad valorem
Highest Rate
15% (applied by certain developing countries to protect domestic fisheries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for sustainable seafood
Increased preference for certified Bonito products, pushing exporters to adopt sustainable fishing practices
2021-2023
Growth in processed Bonito products
Higher exports of canned and smoked Bonito due to longer shelf life and convenience, especially in North American and European markets
2020-2022
Fluctuating prices due to supply chain disruptions
Global shipping delays and fuel cost increases have led to volatile Bonito prices, affecting smaller exporters
2021-2023
The European Union introduced new regulations requiring traceability and sustainability certification for all imported Bonito to combat illegal, unreported, and unregulated (IUU) fishing.
January 2023
Exporters from non-compliant regions face market access challenges, while certified suppliers gain a competitive edge.
A new bilateral agreement reduced tariffs on Bonito imports from Turkey to Japan, boosting trade volumes between the two nations.
March 2022
Turkish exporters have increased their market share in Japan, impacting other traditional suppliers.
Reports from the International Commission for the Conservation of Atlantic Tunas (ICCAT) highlighted declining Bonito stocks due to overfishing, prompting calls for stricter quotas.
November 2022
Potential reduction in supply from key Mediterranean exporters like Spain and Italy, driving prices higher.