FAO expects global pollock prices to decline

Published 2024년 7월 21일

Tridge summary

The FAO forecasts a decrease in global pollock prices due to an expected rise in catch, with prices dropping by 23 percent and further expected to decline this year. The global pollock production is projected to increase by 12 percent to 3.7 million tons, leading to a surplus in the market. Despite this, the demand for pollock is expected to rise, as it is a cheaper alternative to cod. Russia will continue to be the primary pollock producer, with an anticipated increase in catch quotas and surimi production. The surimi production is expected to rise from 54 to 80 thousand tons, with a significant portion expected to be exported to China.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the near future, a further decline in world prices for pollock is expected due to an increase in the catch of this fish. This is reported in a new report from the Food and Agriculture Organization of the United Nations (FAO). According to the document, they decreased by almost 23 percent. This trend is expected to continue this year. This year, production of this fish should increase by 12 percent and amount to 3.7 million tons. Because of this, the global market is expected to have an abundance of this water resource. The volume of world trade in such products this year decreased by one percent to 183.3 US dollars. It also reported a 31 percent drop in the cost of farmed shrimp. As for specific pollock-producing countries, Russia will remain the main one, according to FAO experts. Over the past year, domestic fisheries caught 1.9 million tons of this fish; this year the figure may exceed two million. Catch quotas have been increased to 2.3 million. The report also states that ...

Source: Rosng