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W40: Weekly Seafood Update

Updated Oct 15, 2022
Tridge's global market analysts and country representatives analyze what happened in W40 in the global seafood market.


17.5% WoW Rise in the Price of Blue Swimmer Crab in Indonesia in W40 (Oct 7)

The price of Blue Simmer Crab in Indonesia increased by 17.5% WoW from USD 13.05/kg (Rp 200K/kg) in W39 to USD 15.34/kg (Rp 235K/kg) in W40. Forecasts indicate a higher demand from the US market in October to fulfill their winter needs, and prices will continue to rise as the supply gets consumed.

Taiwan: Fishing Boats Caught Wanli Crabs More Than 100 Tons at the Time, the Three Point Crab Was the Protagonist (Oct 7)

During the Mid-Autumn Festival holiday this year, the number of crabs caught by fishing boats in New Taipei was still very small, because the production season of Wanli crab was delayed. After a lapse of one month, the National Day holiday just happened to come to New Taipei to eat live crabs. The cumulative catch has already increased. 100 metric tons, although the output is similar to last year, but the price of crabs disembarking this year has risen, mainly because the prices of crab bait, cages, fuel costs, and personnel costs have all increased, and the cost of crab fishing has increased significantly.


South Korea: The Price of Lobster From Canada Will Increase From Next Year (Oct 4)

It is predicted that the price of lobster from Canada may rise from next year. According to the Mermaid Pirates, a platform specializing in aquatic products, the restrictions on herring and mackerel catches announced by the Canadian Department of Oceans and Fisheries (DFO) are expected to affect the price of lobster next year. As the permissible catches of herring and mackerel, which are essential for catching lobster, have decreased, lobster fishing has also been put on hold. Atlantic herring and mackerel catches have declined sharply over the past 20 years due to climate change and reckless overfishing. Accordingly, the Canadian federal Ministry of Oceans and Fisheries has reduced the allowable herring catch from 22,500 tons in 2020 to 10,000 tons this year to protect fish stocks. "According to local media, the amount of frozen herring and mackerel currently stockpiled for bait can only be used until the beginning of next year," said an official from the Mermaid Master Pirates. said.


Indonesian Giant Octopus Prices Fall In W40 Due to Sluggish Global Demand (Oct 6)

The Indonesian giant octopus is experiencing difficult times due to a significant drop in global demand, especially from European countries, which has been at its lowest this year. Demand is weak due to the West African octopus season (Morocco, Mauritania) and the ongoing economic crisis in Europe, which left Indonesian suppliers with huge stock. Compared to its peak price of USD 6-7/kg in May-June 2022, the price of octopus raw materials in the east of Indonesia in W40 has decreased by almost half to USD 3–4/kg.


Chilean Salmon and Trout Exports to Brazil Grow Almost 30% In the First Half (Oct 5)

In the first half of this year, Chilean exports of salmon and trout to Brazil totaled US$ 478 million, an increase of 29.3% compared to the same period last year, according to information from ProChile Brasil, an institution of the Ministry of Foreign Affairs. Chile, based on official foreign trade statistics. “With the opening of markets after the Covid-19 pandemic, salmon exports have returned to pre-pandemic levels.

Chile: Salmon Exports Until June Increase Value but Decrease Volume (Oct 5)

During the first semester of 2022, regional exports reached US$3,270.6 million, of which 82.3% (US$2,691.5) corresponded to products derived from salmon. In the analyzed period, the exported value of salmon increased 33.1%, while the amount of merchandise shipped decreased 1.6% year-on-year, according to the Semester Approach to Salmon Exports prepared by the INE (National Statistics Institute).

US Was the Top Market for Chilean Salmon Exports in August 2022 (Oct 5)

In August 2022, 45k t of Atlantic salmon, 3k t of Coho salmon, and 2k t of trout, amounting to a total of 50k t, were exported from Chile. The following are the export volumes and FOB prices for major exporters that account for 94% of total Chilean exports. With 19k t at USD 12.69/kg, the US leads in exports from Chile, followed by Brazil with 9.5k t at USD 7.84/kg, Japan with 4.9k t at USD 10.26/kg, Russia with 4.3k t at USD 9.53/kg, China with 2.3k t at USD 9.13/kg, and Mexico with 1.2k t at USD 12.60/kg.

Price Drop of Fresh Chilean Fillets of Atlantic Salmon in the USA Market (Oct 7)

The price for fresh Chilean Atlantic salmon fillets decreased by USD 0.05/lb during W40 and by 0.9% WoW. In W40, the FOB prices in Miami stood at USD 5.70-5.90/lb for the 2/3lb fillets and at USD 5.80-6/lb for the 3/4lb fillets. The demand for salmon has dropped as it seems inflation is forcing consumers to make some buying choices for cheaper protein, like poultry over fish.


Fish Exports of Argentina for August (Oct 3)

The report prepared by CAPeCa reflects a drop in total export values, a drop in both whole shrimp and tails, and an increase in squid sales, with South Korea as its main buyer. The black hake lives a great moment.

Prices of Fish, Shrimp, Squid and Crab Today, October 6, in the Transit Market in Egypt (Oct 6)

The prices of fish and seafood such as shrimp, squid and crab are among the most researched topics, whether by traders or consumers, as the markets inside Egypt are witnessing a noticeable rise in prices, and some traders take advantage of the consumer’s lack of knowledge of prices daily and raise prices for no reason.


International Buyers Request Blank Packaging for Ecuadorian Shrimp (Oct 3)

Some international Ecuadorian shrimp buyers request packaging without any printing, such as white cardboard boxes and plain carton master boxes in parallel as a strategy to push prices down by USD 0.05-0.15 per kg. The reality is that blank packaging is more expensive for the suppliers because the stock might be unavailable, and branded packaging is usually purchased in bulk at lower prices.

Which Scenario for Shrimp Exports at the End of the Year in Vietnam (Oct 5)

Mekong Delta is in the shrimp harvest season 2 of the year. Many brackish shrimp farmers in coastal areas think that shrimp farming in this crop faces many difficulties, but with intensive farming ponds applying high technology, good water control will limit disease risks and achieve high productivity.

Vietnam: Shrimp Exports to China Slow Down (Oct 5)

In the first eight months of 2022, Vietnam's shrimp exports to China reached $413 million, up 56% over the same period in 2021.

The Price of Shrimp Imported Into China Increased Due to the Depreciation of the Yuan (Oct 5)

Imported shrimp prices in China are expected to increase as the yuan hits a 28-month low against the dollar.

Indian Vannamei Shrimp Prices May Be Affected by Tiger Shrimp Forecast For Y2023 (Oct 5)

Despite the success of Vannamei shrimp exports from India, many farmers are experiencing a decline in their income, mainly caused by EHP and WSSV diseases affecting Vannamei, increased competition from Ecuadorian and Vietnam markets, as well as the rising cost of Vannamei feed. The black tiger, being a native to the region, offers better resistance to disease compared to the Vannamei species. Thus, by considering these factors, shrimp farmers in Gujarat, Orissa, and Bengal are forecasting a rise in tiger shrimp production in the coming years, which may impact the prices of Vannamei on the global market in 2023.

Sader Contributes Scientific Research to the Sustainable and Responsible Capture of Shrimp in Mexico (Oct 7)

The capture of the crustacean is of great economic and social importance for fishermen and aquaculturists, occupy the second place as the product with the highest volume in the country and the first in exports within the fisheries and aquaculture subsector.

Thailand’s 2022 Shrimp Production Is Expected to Drop Sharply Because of the Disease (Oct 7)

Thailand's shrimp production in 2022 is expected to halve from its peak 10 years ago, as disease spreads across the country's shrimp farms. Accordingly, the Thai government is under great pressure to ensure there is enough supply for domestic consumers while supporting small-scale producers.

Chinese Buyers and Ecuadorian Exporters Set Clause on Contract if Shrimp Shipment Tests Positive for COVID-19 (Oct 7)

Chinese buyers of Ecuadorian shrimp are still uneasy that their products might arrive testing positive for Covid. The government in China keeps being very strict in regulating that cargo getting into China is 100% free of Covid. The product and its packaging have to be completely free of the virus to be accepted by Chinese customs. Exporters and importers added a clause to their contracts stating that if the merchandise tests positive for Covid it must return to Ecuador and be replaced by another batch free of the virus. Return expenses will be covered in half by buyers and exporters, but the exporter must assume 100% of the re-shipping cost.

Rainy Season in Indonesia Having an Impact on Shrimp Farming in W40 (Oct 8)

The rainy season in Indonesia had an impact on shrimp farming in W40. The rainfall intensity has also caused an increase in disease attacks in some shrimp ponds in Indonesia. Some diseases that affect shrimp in the rainy season are WSSV (white spot) and IMNV (infectious myonecrosis virus). These two diseases have a high mortality rate, and if not treated, the mortality rate of shrimp can reach 100%. Based on information from shrimp farmers in Lampung, specifically in East Lampung, an increase in WSSV intensity has been observed. If the WSSV and IMNV outbreaks occur, it is not possible that shrimp prices will fall again due to the high intensity of shrimp harvest. Early shrimp harvesting is the last strategy by shrimp farmers to avoid high shrimp mortality rates due to virus attacks.


W40 Local and Imported Fresh Tuna Prices in Japan Remain High (Oct 5)

Fresh Bluefin Tuna GG prices are going up in Japan towards the end of 2022. In W40, Japanese bluefin fresh tuna prices stood at USD 25.67-26.37/kg, while the price of Mexican-origin fresh tuna stood at USD 22.20/kg, representing a 14.43% rise from the USD 19.43/kg in September.

European Parliament adopts new rules for tuna fishing in the Indian Ocean (Oct 7)

European Parliament adopts new rules for tuna fishing in the Indian Ocean. The EU has been a contracting party of the IOTC since 1995.

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