Milkfish (threadfin) sell well in China's home market during the pandemic, high drug residues and 70% of output sold to China are hidden concerns

The Wuhan pneumonia outbreak has hit Taiwan's fishing industry. In particular, wild-caught tuna and farmed grouper, which are sold through restaurants and banquets, have fallen in price. But farmed threadfin (commonly known as "wu zai fish"), which is sold in the home market, has bucked the trend, becoming hugely popular both domestically and for export. Its price rose from 105 yuan per Taiwanese catty in February to 140 yuan by April, a rise of 30%, and demand still exceeds supply. Many grouper farmers are bullish on the future of threadfin and are accelerating the shift to farming it.

However, threadfin and grouper both rely mainly on the China market, with 70% of output sold to China, so there is also the risk of over-reliance on a single market. In addition, because of excessively high farming density, there have been repeated reports of failed drug residue tests, which is a hidden concern for domestic sales development. For the sake of industry development, in recent years many young fishermen have tried to build brands through production and sales traceability records, hoping to open up the domestic market for threadfin.

Threadfin farmers doubled in three years, 70% sold to China, and prices are higher because of epidemic prevention

Wild threadfin is expensive and is a dream catch for anglers and a delicacy for gourmets. Although farmed threadfin still differs from wild threadfin in taste, it is affordable and has delicate flesh. The standard market size is 300 grams, making it suitable for the home market. In addition, since China has not yet farmed threadfin on a large scale, export volumes have risen sharply.

After 2016, the grouper industry was sluggish, and many grouper farmers switched to farming threadfin, which also pushed the number of farmers up steadily from about 300 in 2016, nearly doubling in 3 years. According to Fisheries Agency statistics, in 2019 the number of threadfin farmers nationwide (including part-time farmers) approached 600, with 80% concentrated in Pingtung, and the farming volume