HS Code:
The 'Other Smelts' category (HS Code: 0302.89) includes various species of smelt fish that are not classified under specific smelt categories. These fish are typically small, silvery, and found in both freshwater and marine environments. They are often used for human consumption, fish meal, and bait. Global trade in this category is influenced by regional fishing practices, environmental regulations, and demand in markets such as Asia, Europe, and North America.
Total Trade Volume
Approximately $150 million USD
Data from 2022
Source
United Nations Comtrade Database
$45 million USD
30% of total trade of total trade
Increasing
$30 million USD
20% of total trade of total trade
Stable
$25 million USD
16.7% of total trade of total trade
Increasing
$20 million USD
13.3% of total trade of total trade
Stable
$15 million USD
10% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain Asian countries)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Growing demand for sustainable seafood
Increased certification requirements (e.g., MSC certification) are pushing exporters to adopt sustainable fishing practices, impacting smaller producers.
2021-2022
Rising aquaculture production
Aquaculture is supplementing wild-caught smelts, stabilizing supply and reducing price volatility in key markets like Japan and South Korea.
2020-2022
Climate change effects on fish stocks
Shifting migration patterns due to warming waters are affecting catch volumes in traditional fishing regions like Russia and Canada.
2019-2022
The European Union introduced stricter import controls on seafood, including 'Other Smelts,' to combat illegal, unreported, and unregulated (IUU) fishing.
January 2023
Exporters to the EU must provide additional documentation, increasing compliance costs but improving market transparency.
Japan and South Korea agreed to lower tariffs on certain seafood products, including smelts, to boost bilateral trade.
March 2023
This is expected to increase trade volume between the two countries by 10-15% over the next two years.
Russia imposed temporary export quotas on smelt products to prioritize domestic supply amid geopolitical tensions.
July 2022
This led to a short-term supply shortage in Asian markets, causing a price spike of approximately 8%.