Crab

Japan: Japanese Crab Is Mainly Sourced From Overseas (Oct 13)

Due to the increasing number of closed fishing areas and fishing periods in Japan, it is difficult to catch a high volume of crab, and most of the crab distributed in the Japanese market is from Russia.

Due to the Japan-Russia anti-poaching agreement, the amount of Russian king crab imported into Japan has decreased sharply, and the supply of Alaskan king crab has increased rapidly. There are also king crabs from Canada, Norway, and Argentina.

In the waters near Hokkaido, fishing crabs is difficult due to the closed fishing areas and restricted fishing periods. Therefore, fishers often go to the Sea of Okhotsk to catch them. Even if the king crab caught in the Sea of Okhotsk by Japanese ships is sold as Hokkaido, it tastes the same as the one from Russia. Many times, the origin of the crab says "made in Japan" or "domestic", but the origin of the crab is overseas, and the product is just processed in Japan.

Canada: Snow Crab Prices Remain Competitive in Canada in W41 (Oct 14)

On the East Coast, Canadian snow crab has been widely available during 2022, and prices are currently very competitive. Prices started high in 2022, but with increased catches and less demand, prices have dropped considerably. Although there is not as much volume available as in the summer months, there is still great quality product selling in the region of USD8.50-12.00 per lb for W41.

Octopus

Cyprus: W41 Declining Demand for Indonesian Giant Octopus in Cyprus (Oct 13)

Cyprus, a tourist island in the Europe region, has been one of the biggest buyers of the Indonesian giant octopus (species: Octopus Cyanea and Octopus Vulgaris). In W41, regular buyers of Indonesian giant octopuses in Cyprus showed no demand since the tourist season ends in October. Product sales and consumption will decrease, so buyers will not have the necessity to import or replenish their octopus inventory. Demand is expected to start again in January 2023.

Salmon

Scotland: Scottish Salmon Prices to Increase in Q4, Due to Demand During the Upcoming Christmas Holidays (Oct 14)

Scottish salmon is well known as a Christmas and holiday luxury treat worldwide and is expected to attract high-volume seasonal sales in Q4 2022. Prices tend to rise during this period as demand for premium products increases, with an uplift in sales from both food service and retail buyers. For reference, wholesale-farmed superior whole Scottish salmon sells at USD 9.20/kg in W41.

Chile: Fresh Fillets of Chilean Atlantic Salmon in the USA Market in W41 (Oct 14)

The price for the fresh Trim D Chilean Atlantic salmon fillets in the US market decreased by an average of USD 0.10/lb in W41, representing a 1.7% drop WoW. FOB prices in Miami in W41 stood between USD 5.60-5.80/lb for the 2/3lbs, and between USD 5.70-5.90/lb for the 3/4lbs. Overall sales of Chilean fresh salmon increased in September by 5.7%, reaching USD 202M, but sales flatlined, and in the first half of October sales in the US supermarkets weakened as consumer preferences changed.

Chile: Chilean Salmon Prices Expected to Rise in the Oslo Market (Oct 14)

Some salmon farmers and exporters in Chile believe the bottom price in Oslo was reached in W35 at USD 5.70/kg for Fresh Salmon HON 3-6kg after this year's peak in W17 at USD 12.56/kg. Forecasts indicate that Chilean fresh salmon HON 3-6kg FCA prices in Oslo will increase in Q4 2022 and Q1 2023 to values between USD 9.15-9.34/kg until the end of March. Prices are expected to increase as consumption rises during the winter season.

Chile: Chilean Salmon Exports in September 2022 (Oct 14)

From January to September 2022, 531K tons of salmon and trout were exported, for a FOB value of USD 4,770M, compared to the same period last year when 519K tons were shipped for USD 3,640M FOB, generating a 31% increase in value and only 2.3% in volume. Comparing the data with the previous month, August 2022, in September 63K tons valued at USD 565M were exported, while in August, the amount shipped were 56K tons for USD 529M, which implied an increase of 12.5% ​​in volume and 6.8% in value.

Shrimp

Indonesia: Farm Gate Price Update of Vannamei Shrimp in W40 (Oct 12)

The farm gate price of Vannamei shrimp has decreased in W40 due to shrimp harvests in several areas in Indonesia. The price drop occurred in various big sizes of shrimp, sizes 30 and 40. For size 30, the price drops by about USD 0.33 per kg, and for size 40, the price drops by about USD 0.2 per kg. The price decrease has started since the end of September. Based on information from Shrimp farmers and mediators, this trend is predicted to continue until the mid or end of October 2022.

The updated Farm-Gate prices of Vannamei shrimp in Indonesia are the following. Size 30, USD 4.85/kg. Size 40, USD 4.65/kg. Size 50, USD 4.39/kg. Size 60, USD 4.13/kg. Size 70, USD 4.00/kg. Size 80, USD 3.87/kg. Size 90, USD 3.54/kg. And size 100, USD 3.41/kg.

Ecuador: Ecuadorian Shrimp Suppliers Set New Clauses to Sell to China Due to Strict COVID-19 Testing (Oct 13)

The Chinese customs authorities are executing strict inspections on shipments looking for COVID-19. Several Ecuadorian shrimp processing plants and exporters decided to only sell to China if the buyers are willing to assume 50% of return and reshipment expenses when the shrimp tests covid positive and can't be cleared from customs at the destination.

India: Feed Rate for Indian Vannamei Shrimp Reduced in W41 (Oct 14)

The Andhra Pradesh government in India has announced that the feed rate for Indian Vannamei shrimp will be reduced by USD 0.03/kg (₹2.60/kg), and the minimum purchase price per kilo will be standing at USD 2.91/kg (₹240/kg) for 100 counts in W41. Further price changes in feed or material will have to be approved by the government. Farmers are satisfied with this change to control feed prices since any feed manufacturers wanting to increase prices have to get approval from the Indian government. This is forecasted to impact the prices of Indian Vannamei in the international market in the upcoming 2023 season. 

Tuna

Vietnam: Tuna Exports from Vietnam to the Middle East Reached the Highest Level in the Past 5 Years (Oct 13)

According to statistics from Vietnam Customs, the Middle East is the third largest tuna import market of tuna from Vietnam after the US and EU. Vietnam's tuna export value to this market in the first eight months of 2022 increased by 40% over the same period in 2021, reaching nearly $66 million, reaching the highest level in the past five years.