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Does international trade make all parties better off? We study the relationship between food security and the international trade of fish and seafood between developing and developed countries. Specifically, we look at and discuss the evolution of trade flows – values, quantities, and prices – between developing and developed countries. The picture that emerges suggests that the quantity of seafood exported from developing countries to developed countries is close to the quantity of seafood imported by developing countries from developed countries. What takes place is a quality exchange: developing countries export high-quality seafood in exchange for lower quality seafood.