China: Russian pollock raw material prices continue to rise, producers say Bering Sea fishing conditions are poor

Published 2024년 9월 11일

Tridge summary

The price of Russian pollock raw materials has increased from $1,010/ton to $1,200/ton in just over a month due to limited supply. Chinese processing plants report prices ranging from $1,100/ton with a gradual weekly increase, while European traders note an average price of $1,150/ton. Russian Fisheries Company CEO Savely Karpukhin forecasts prices will reach $1,200-$1,300/ton by the end of 2024, attributing this to poor fishing conditions in the western Bering Sea and a potential market gap in Europe by early 2025. The western Bering Sea's quota of 700,000 tons may see a shortfall of 50,000-100,000 tons, affecting surimi and fillet production.

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

Original content

More than a month ago, the price of Russian pollock raw materials was still hovering at $1,010/ton, and the recent increase has obviously accelerated. A Russian seller told UCN: "The current transaction price is $1,200/ton, the transaction volume is not large, but the existing raw materials are relatively small, so we are not talking about a large-scale transaction data. Although H&G production is relatively high this year, the supply is very small at this stage." A Chinese processing plant manager said that he received a quote as high as $1,200/ton, but no one may be willing to buy at this price. Another Chinese processing plant person said that the transaction price can still be as low as $1,100/ton, and it will rise slowly by $30-40/ton per week. Another European trader said that the average transaction price is currently $1,150/ton, and the upward trend continues. Recently, Russian Fisheries Company (RFC) CEO Savely Karpukhin raised his forecast for pollock prices in 2024, ...

Source: Foodmate