HS Code:
Snapper, belonging to the Lutjanidae family, is a category of marine fish highly valued in global seafood markets for its firm texture and mild flavor. Commonly found in tropical and subtropical waters, snappers are harvested both through wild capture and aquaculture. They are traded under various Harmonized System (HS) codes depending on the form (fresh, frozen, fillets, etc.), typically under HS 0302 (fresh or chilled fish) and HS 0303 (frozen fish). Snapper species like the Red Snapper (Lutjanus campechanus) are particularly prominent in international trade, with significant demand in North America, Europe, and Asia. The trade of snapper is influenced by seasonal availability, fishing quotas, and sustainability concerns.
Total Trade Volume
Approximately 200,000 metric tons
Data from 2022
Source
FAO Fisheries and Aquaculture Statistics, UN Comtrade Database
45,000 metric tons
22.5% of total trade of total trade
Increasing
38,000 metric tons
19.0% of total trade of total trade
Stable
30,000 metric tons
15.0% of total trade of total trade
Increasing
25,000 metric tons
12.5% of total trade of total trade
Stable
20,000 metric tons
10.0% of total trade of total trade
Decreasing
Average Rate
7.5% ad valorem
Highest Rate
15% (applied by certain Asian markets)
Lowest Rate
0% (under free trade agreements like USMCA)
Rising demand for sustainably sourced snapper
Increased certification costs for exporters but higher premiums in markets like the EU and US
2021-2023
Growth in aquaculture production
Reduced pressure on wild stocks, stabilizing prices and supply for international trade
2020-2022
Fluctuating fuel costs impacting fishing operations
Higher operational costs for wild-caught snapper, leading to price increases in export markets
2022-2023
The US implemented stricter quotas for Red Snapper to ensure sustainability, affecting export volumes from the region.
June 2023
Short-term reduction in supply to international markets, potential price increases
Government-backed initiatives in Indonesia have boosted snapper farming, increasing export capacity to meet Asian demand.
March 2023
Increased competition for wild-caught snapper exporters, potential stabilization of global prices
The European Union introduced stricter traceability and sustainability requirements for imported snapper.
January 2023
Higher compliance costs for exporters, potential market access barriers for non-certified producers