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Globefish European Fish Price Report

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Globefish European Fish Price Report Issue 8/2020 August 2020 Index for prices Latest trends Indications point to low demand in Europe, although the Asian Groundfish 8 market is picking up. Shrimp prices are increasing due to limited Flatfish 9 arrivals, especially from India. Tuna prices are also rising, as catch Tuna 10 restrictions have translated into lower landings. Summer is Small Pelagics 10 normally a major sales period for cephalopods and bivalves, but this year the impact of COVID-19 is still being felt by the restaurant Cephalopods 11 trade, especially in the main tourist areas. Prices for these species Crustaceans 12 are generally trending downward. Bivalves 14 Salmon 14 GROUNDFISH Trout 15 Freshwater fish 15 As the COVID-19 pandemic lingers on, its effects on the groundfish Non Traditional market are worsening. In particular, prices for fresh groundfish Species 15 are under pressure, while frozen and packaged products remain Seabass-Seabream- the preferred choice among consumers. Meagre 16 The European Fish Price Report, Consumption of wet-salted cod fillets from frozen raw material based on information supplied by industry correspondents, aims to (Gadus macrocephalus), and wet-salted cod fillets (Gadus provide guidance on broad price trends. morhua) from fresh raw material of Faroese and Icelandic origin Price information is indicative and has been affected by the arrival of the summer. As is typically the should be used only for forecasting medium- and long-term trends. FAO is case, the holiday season combined with the warm weather has led not responsible for any errors or to a drop in consumption of these kinds of products. At the same omissions. time, Southern European importers are currently distributing the stocks still remaining in their warehouses. The combination of these factors is expected to lead to a slight fall in price. The Russian Scientific Fishery Institute has revised its quota advice for whitefish, and has increased the Alaska pollock quota slightly for 2021, to 3.2 million tonnes. Over the past ten years, Russia’s TAC has fluctuated between 2.76 million 1 tonnes and 3.21 million tonnes. The COVID-19 pandemic has inflicted economic hardship on the European consumer, and has brought about a number of changes in consumer purchasing habits. Instead of buying The Russian Scientific Fishery Institute has revised its quota advice for whitefish, and has increased the Alaska pollock quota slightly for 2021, to 3.2 million tonnes. Over the past ten years, Russia’s TAC has fluctuated between 2.76 million tonnes and Sole - origin: Netherlands 3.21 million tonnes. EUR/kg 25.0 16.20 The COVID-19 pandemic has inflicted 20.0 15.0 economic hardship on the European 10.0 consumer, and has brought about a 5.0 11.59 number of changes in consumer purchasing 0.0 habits. Instead of buying the more expensive “skrei” (spring cod from the Lofoten region), consumers are turning to gutted no 4 gutted no 2 the less expensive saithe. TUNA - BILLFISHES In general, there is little demand for canned tuna in the world market at present, but raw material prices are increasing as supplies contract. The 3-month FAD closure in the Western and Central Pacific (WCP) is currently in force until the end of September and fishing is reported to be very poor. Thai canneries continue to report moderate raw material inventories for now. Skipjack prices have jumped sharply due to the extremely poor fishing and are expected to increase further in the coming weeks. TUNA - Pacific Ocean Catches in the Indian Ocean remain low USD/kg and COVID-19 continues to hamper 3.0 fishing efforts. Raw material inventories 2.5 at local canneries have fallen further and 2.0 1.70 are now at low levels. Skipjack and 1.5 1.60 yellowfin prices continue to increase. 1.0 0.5 The first 72-day IATTC ‘veda’ started on 29 July and 46 percent of the Eastern Skipjack Bangkok CFR Skipjack Ecuador, ex-vessel Pacific fleet has opted for this period. For the vessels still out fishing, catches have been moderate-to-low. In addition, the water temperature is reported to be very cold for this period of the year. Raw material inventories at local canneries are low and there is strong demand for raw material. Due to the ‘veda’, Skipjack price have risen sharply and continue to increase rapidly. Yellowfin prices are stable. 2 As catches in the Atlantic Ocean remain TUNA - Spanish canneries moderate-to-low, raw material inventories EUR/kg 2.20 have fallen to the same level as well. As a 3.0 result, both skipjack and yellowfin prices 2.5 continue to increase in Abidjan. 2.0 1.5 1.0 European prices for skipjack have 1.20 0.5 increased further while the price for yellowfin remains stable. The market price for cooked, single cleaned skipjack loins is Yellowfin > 10 kg, Spain CFR Skipjack main sizes, Spain CFR also rising. TUNA - Indian/Atlantic Oceans TUNA - Loins EUR/kg USD/Kg 3.0 9.5 2.5 2.10 8.0 6.5 2.0 2.08 6.85 1.5 5.0 4.60 1.30 3.5 1.0 1.10 2.0 0.5 Skipjack - frozen cooked loins, single cleaned, Spain/Italy DDP Skipjack, Seychelles, FOB Yellowfin, Seychelles, FOB Skipjack, Abidjan ex-vessel Yellowfin - frozen cooked loins, double cleaned, Italy DDP Yellowfin, Abidjan, > 10 kg, ex-vessel SMALL PELAGICS There were hardly any catches of small Mackerel - in Italy, freshorigin: France pelagics by the Polish fleet in August due to EUR/kg 4.0 the holiday season. In the Norwegian 3.5 mackerel fishery, prices have been 3.0 2.5 increasing strongly due to heavy demand 2.0 1.5 from Asia. Further price increases for this 1.0 0.5 product are likely. 0.0 fresh 3 CEPHALOPODS The octopus season in Indonesia will start next month, coinciding with the arrival of the rainy season. Landings will consist of smaller sizes first, increasing as the December peak approaches. Price are still stable but demand remains weak. With the shutdown of the catering SQUID - in Italy, origin: South Africa and restaurant sector in many EUR/kg countries, cephalopods are being 9.0 particularly hard hit. The summer 8.0 7.0 holidays are normally the high 6.0 8.60 season for octopus and squid 5.0 consumption in Europe, but there 4.0 3.0 will be no ‘normal’ summer season this year and demand for cephalopods is poor. At the same Squid - Whole, FAS, size M time, squid fishing off Argentina is very good and these supplies are putting further downward pressure on prices. CRUSTACEANS At the end of July, the Argentine ARGENTINA RED SHRIMP - origin: Argentina freezer fleet started production after one month of trade union EUR/kg discussions. The fishery is reported 10.5 9.0 to be very productive, which is 8.00 7.5 normal at the start of a fishing 6.0 7.90 season. High demand is reported in 4.5 7.90 Japan, but also surprisingly in 3.0 Europe, where coldstores are empty. This has led to a strong price > 10-20 pc/kg > 30-40 > 40-60 increase at origin, with prices for shrimp of all sizes now about EUR 1.00 per kg higher than just a month ago. However, now that the season is underway, prices have stabilized and may trend downward in coming months. 4 Shrimp prices in Indonesia have been CRAB - in France, origin: Europe rising continuously over the last 2 weeks. A lot of farmers had EUR/kg 6.0 previously halted production 2.64 5.0 activities due to the lockdown and 4.0 this means supply is now lower than 3.0 demand, and there is strong 2.0 competition among packers. 1.0 Crab and lobster demand is heavily 400-600 - 600-800 kg/pc dependent on restaurant sales, which have not returned to pre-COVID-19 levels, but it is hoped that the holiday season will help trade in tourist areas despite the much reduced numbers. Lobster sales, in particular, have been affected by poor sales of luxury products in general in the current market. FRESHWATER FISH Imports of pangasius into Europe have been impacted by COVID-19. Viet Nam, which is the main exporter of this species, reported a drop in exports. In the first five months of 2020, the United Kingdom of Great Britain and Northern Ireland imported some 4 800 tonnes, 20 percent less than in the same period of 2019. In the UK, frozen pangasius fillets are mainly used in the fish and chips fast food restaurant trade, which were closed during the lockdown. In line with shrinking demand, the unit value of pangasius fillets have fallen from USD 4.30 to USD 3.50 per kg. In the first five months of 2020, Spanish imports fell to 2 200 tonnes compared with 3 000 tonnes in the same period of last year. Similarly to the UK market, the unit value of pangasius imports declined from USD 3.00 to USD 2.60 per kg. BIVALVES Although restaurants in France are now MUSSEL BOUCHOT - in France open following the lifting of COVID-19 restrictions in June, social distancing EUR/kg measures and a lower density of 6.0 5.40 5.5 customers means a significant drop in 5.0 revenue and reduced aggregate demand 4.5 4.0 from the foodservice sector. Sales of 3.5 festive products are not expected to return 3.0 to normal for some time, particularly for shellfish such as oysters, mussels, crab Monthly average consumer prices in metropolitan… and lobster.
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