HS Code:
Oysters, classified under HS Code 0307, encompass both live, fresh, chilled, frozen, dried, salted, or in brine forms, primarily used for human consumption. This category includes various species of oysters, which are bivalve mollusks found in marine or brackish habitats. Oysters are a significant part of the global seafood trade, valued for their culinary use, particularly in raw or cooked dishes, and for their role in aquaculture. The trade of oysters is influenced by factors such as environmental conditions, farming practices, and international demand for luxury seafood products.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$400 million USD
33.3% of total trade of total trade
Increasing
$250 million USD
20.8% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Decreasing
Average Rate
10.5%
Highest Rate
35% (applied by certain developing countries to protect local aquaculture)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for sustainably farmed oysters
Increased investment in eco-friendly aquaculture practices, boosting trade from countries with certified sustainable production
2021-2022
Growth in premium and luxury seafood markets
Higher export values for countries like France and the US, where oysters are marketed as gourmet products
2020-2022
Impact of climate change on oyster habitats
Disruptions in supply from traditional regions due to ocean acidification and warming waters, shifting trade to more resilient areas
2019-2022
A new agreement reduced tariffs on oysters and other shellfish, facilitating increased exports from China to European markets.
March 2023
Expected to boost China's share in the European oyster market by 5-10% over the next two years.
The US government announced funding for coastal aquaculture projects, focusing on oyster farming to meet domestic and export demand.
June 2023
Likely to increase US export volumes by 15% in the next five years, strengthening its position in North American and Asian markets.
Due to environmental challenges, Japan reported a significant decline in oyster production, impacting its export capacity.
September 2022
Reduced supply has led to higher global prices and a shift in market share to competitors like South Korea and China.