On-the-Ground Update

Argentine Hake´s performance

Dan Kleiner
Published Sep 8, 2020
The drop in the average price of hubbsi hake fillet by 11.4% compared to 2019, lead to a greater drop in foreign exchange, in the order of 29%, than in volume, which fell 20%. In total, almost 30K tons were sold for U$D 83,536,577, with a value of U$D 2,800/TN.
Collection in dollars from sales to Brazil fell by 28.8%, in Spain by 16% and in the United States by 25%. In tons, the losses were 19%, 6% and 12% respectively. Sales in other destinations also fell; in Italy the drop was 23.5%, in Poland 61% and in Russia 15%.
Sales of frozen hake in presentations that exclude filet have fallen 8.5% in volume and 16% in foreign currency, with about 20K tons exported for U$D 29M; the drop in the average price was 8.5%, standing at U$D 2,870/ton.
The increase in the volume of sales to Russia, with a growth of 36% in tons and 26% in foreign currency, has not been able to offset the drop in sales in most of the destinations of this product. In Spain, in volume fell by 16% and in U$D by 22%; in Jordan, the drop was 36% in tons and 48% in U$D and in Ukraine, another of the outstanding markets, sales fell by 45% in volume and 52% in U$D.
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