World Aquaculture 49 Seafood Production According to The State of World Fisheries and Aquaculture 2010, published by the Food and Agriculture Organization of the United Nations (FAO/UN), the capture fisheries and aquaculture supplied the world with about 142 million t of fish in 2008. Of this, 115 million t was used as human food, providing an estimated apparent per capita supply of about 17 kg (live weight equivalent), which is an all-time high. The reported global production of food fish from aquaculture, including finfishes, crustaceans, molluscs and other aquatic animals for human consumption, reached 52.5 million t in 2008. The contribution of aquaculture to the total production of capture fisheries and aquaculture continued to grow, rising from 34.5 percent in 2006 to 36.9 percent in 2008. In the period 1970–2008, the production of food fish from aquaculture increased at an average annual rate of 8.3 percent, while the world population grew at an average of 1.6 percent per year. The combined result of development in aquaculture worldwide and the expansion in global population is the average annual per capita supply of food fish from aquaculture for human consumption has increased by ten times, from 0.7 kg in 1970 to 7.8 kg in 2008, at an average rate of 6.6 percent per year. High-value species, such as shrimp, prawns, salmon, tuna, groundfish, flatfish, seabass and seabream, are highly traded, in particular as exports to more affluent economies. Fig. 2. Value-added farmed shrimp products However, low-value species, such as small pelagic, are also traded in large quantities in the other direction to feed lowincome consumers in developing countries. Products derived from aquaculture production are contributing an increasing share of total international trade in fishery commodities, with species, such as shrimp, prawns, salmon, molluscs, tilapia, catfish (including Pangasius), seabass and seabream. Value Added Seafood products are among the most important internationally traded food commodities. Though the theoretical background of international trade is well known the research conducted so far has offered limited insights into how seafood value or price is actually distributed over the chain of production, processing and marketing of seafood products. The basic tenet on which the seafood industry is presently working is that there is no demand for value added products in the domestic market inasmuch as the consumers are not capable of ensuring appreciation of the products in terms of price and quality. The emergence of value added products are accelerated by the current demand pattern of the major seafood markets in exporting countries. People have become more selective in their food choice and they are ready to spend more for food. Value-added refers to “extra” feature(s) of an item of interest, whether it be product,
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