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W45: Weekly Seafood Update

Updated Nov 18, 2022
Tridge's global market analysts and country representatives take a deep dive into what happened during W45 in the global seafood landscape. In summary, the total number of harvested crabs in Russian territories increased by 927 tons per week to about 19,723 tons by Nov 3, 2022. Vietnamese octopus and squid exports registered about 32% as of October 2022, achieving sales worth USD 625 million. In the US W45, the FOB prices in Miami for Chilean salmon fillets stood at USD 5.55-5.75/lb for the 2/3 lbs and USD 5.65-5.85 for the 3/4 lbs. For the seaweed, the Vietnamese government has an expectation of attaining about 1.4 million tons of marine aquaculture where currently the seaweed is about 130,000 tons. On the other hand, Vietnamese shrimp exports reached about USD 3.8 billion registering an increase of 19% and they are predicting that they will hit over USD 4.4 billion at the end of 2022 depicting a rise of 14% compared to 2021. In Chile W45, the fishermen reported low volumes of giant squid available in the central region. Lastly, Vietnamese tuna exports were estimated at about USD 890 million at the end of October indicating a 50% increase over the same period hence there is a high probability of becoming an export industry of over 1 billion USD.


Russia: Overview of the fishing situation (Nov 7)

By November 3, 2022, the total number of harvested crabs (King crab, equal-thorned crab, blue crab, birdie snow crab, and opilio snow crab) in the area of ​​responsibility of the North-Eastern Territorial Directorate of the Federal Agency for Fisheries was 19,723 tons (+927 tons per week), of which 8,762 tons were within the investment quotas. The total harvest was 446 tons less than that of 2021 (in 2021, the catch was 20,169 tons).

UK: The Export Price of UK Brown Crab Is Slightly Higher Than Irish Brown Crab in W45 (Nov 10)

The UK and Ireland are two of the main producers and exporters of brown crab (Cancer Pagurus), either live, frozen, or cooked. The fishing season is going well in both countries, which usually runs from October to January when the female crabs are full of roe. In W45, the price of brown crab in Ireland is USD 0.50-0.70/kg lower than in the UK. The export rates for Ireland-origin brown crab stand at USD 8.20-8.40/kg delivered to most EU countries, whereas the export prices from the UK are slightly higher, ranging from USD 8.70-9.00/kg supplied to major European markets. Suppliers believe that the main target markets for each country account for the differences in export prices, with Ireland's target markets being Portugal, Spain, or Italy, while the UK is targeting France, a market that can usually pay more than the southern European nations.

Thailand: The Expansion of the Sea Crab Species (Nov 11)

"Chalermchai" assigned "Alongkorn" to accelerate the release of another 1.3 million sea crab species into the sea in Prachuap Khiri Khan. This is with the hope to increase crab resources by 400% per year for the community sustainably. The Ministry of Agriculture and Cooperatives has set a goal to increase crab production to 5,000 tons in 2023. From the original data in 2018, there were only 1,600 tons of crab production, in 2019 there was a production of 3,000 tons, in 2020 there were 3,000 tons and in the year 2021, the overall crab production of the country There was an increase in of more than 6,000 tons indicating a 400% increase in four years, of which 3,400 tons of aquaculture crabs and 2,800 tons of wild-caught produce exceeded the target expected by the Department of Fisheries.

Argentina: King Crab Fishing (Nov 11)

The report for the month of September prepared by CAPECA shows a drop in foreign sales of 6.7%. The rise in the price of some products reduced the impact on the income of foreign currency to the country. The report analysis indicates that king crab sales are a developing fishery that is increasing the level of sales. The demand for king crab grew by 8% hence increasing revenues by 17% due to an 8.4% average price rise that brought the ton to USD 18,830. In total, a thousand tons of king crab were exported.

Egypt: Fish Prices Stabilize in the Transit Market (Nov 9)

Fish prices witnessed a state of stability in the transit market during trading on November 9, 2022, where crabs ranged between 24 and 80 pounds

Egypt: Crab Prices (Nov 13)

The traders in Obour Market in Egypt indicated that the “wholesale” price of crab rose by 5 pounds, hence ranging between 32 and 82 pounds.


Vietnam: Octopus Export (Nov 10)

As of October 2022, exported squid and octopus products have achieved sales of USD 625 million, up 32%. It is estimated that in 2022, the export of this product will reach 734 million USD, up 22% compared to 2021.

Vietnam: South Korea and Japan Are the 2 Markets That Buy the Most Squid and Octopus (Nov 13)

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's exports of squid and octopus in the third quarter of 2022 reached nearly USD 214 million, up 53% over the same period in 2021. Accumulated in the first 9 months of 2022, exports of squid and octopus reached USD 557 million, up 37% over the same period. In the third quarter of 2022, squid and octopus exports recorded the highest growth rate of 53% compared to the previous 2 quarters (up 35% and 24% respectively).


Europe: The EU Accounts for 5.1% Of World Fish Production (Nov 8)

The European Commission's Common Fisheries Policy Facts and Figures report provide an overview of the fisheries and aquaculture sectors in the EU in 2022. Aquaculture, both marine, and freshwater, reportedly employs about 70,000 people, including seasonal workers. The manufacturing industry consists of about 3,500 companies. The basis of the EU production is canned food and ready meals based on fish, crustaceans, and mollusks. Mediterranean mussels account for about 36% of total aquaculture production in the EU, with Atlantic salmon and rainbow trout together accounting for another 30%. The main aquaculture producers by volume are Spain, France, Italy, and Greece. In total world aquaculture production, the EU accounts for 1.13% by volume and 2.29% by value.

Russia: What Will Happen to Fish and Seafood? (Nov 7)

According to the state agency, the indicators of commercial fish farming for the first six months of 2022 exceeded the level of 2021 by 2.2%. Thus, the volume of growing trout and salmon increased by 3.3% and reached 79.6 thousand tons (13.3 thousand tons of salmon and 66.23 thousand tons of trout). The production of valuable hydrobionts increased by 8.5% to 35.6 thousand tons. Here, including the cultivation of scallops, mussels, sea urchins, and crayfish. For sturgeons this year, an increase of 13.5% was recorded - up to 4.1 thousand tons. The production of cyprinids amounted to almost 68.8 thousand tons.

Russia: The Ban on the Export of Caviar Weighing More Than 10 KG From Kamchatka (Nov 8)

An experiment to limit the export of salmon caviar weighing more than 10 kg in personal luggage or hand luggage by passengers on aeroplanes started in Kamchatka on November 1. This measure was introduced to reduce the poaching of the delicacy. Before the introduction of the experiment, the annual volume of caviar carried in the personal luggage of passengers exceeded 500 tons. For the production of such a quantity of caviar, poachers, according to various estimates, destroy more than 15 thousand tons of raw salmon. The annual damage to the state from their actions exceeds 15 billion rubles.

Russia: Export of Fish From Khabarovsk Increased by 74% Since the Beginning of 2022 (Nov 10)

On November 3, 2022, the Office of the Rosselkhoznadzor for the Khabarovsk Territory, the Jewish Autonomous and Magadan Regions carried out a veterinary control of a batch of 20 tons of frozen chum salmon intended for export to China. All products have passed the necessary procedures for confirming compliance with the requirements of the importing country in terms of safety indicators, including the results of laboratory tests conducted by the Khabarovsk Reference Center of Rosselkhoznadzor. An export veterinary certificate has been issued for the products. Since the beginning of 2022, under the control of the Office, more than 3,300 tons of fish products (smelt, Pacific herring, crucian carp, carp, pike, skygazer), as well as salmon caviar, have been exported to China. The total volume of exported fish products in 2022 amounted to more than 6,141 tons, which is 74% more (4,566 tons) compared to the same period in 2021, 43 veterinary certificates were issued. The main destinations for the export of fish products produced in the Khabarovsk Territory are China, Japan, and Korea.

US: Price Drop of Fresh Chilean Salmon Fillets in W45 (Nov 11)

The price of fresh Chilean salmon fillets in the North American market suffered a price drop of USD 0.10/lb in W45 due to oversupply. In W45, FOB prices in Miami for Chilean salmon fillets stood at USD 5.55-5.75/lb for the 2/3 lbs and USD 5.65-5.85 for the 3/4 lbs. Closer to Thanksgiving day (Thursday, November 24), prices are forecasted to drop further as demand for turkey increases and for salmon decreases.

Indonesia: Residents Should Consume Domestic Fish Products (Nov 9)

Jakarta (ANTARA), aligning with the momentum of National Fish Day on November 21, the Marine Affairs and Fisheries Ministry encouraged residents to consume domestic fish products, with nutrient quality akin to imported counterparts, albeit much more affordable. "We must be proud that Indonesian fish products are high in protein," Director of Processing and Quality Development of the ministry's Directorate General of Marine and Fisheries Products Competitiveness Widya Rusyanto stated at a webinar, as quoted on Wednesday. During the "Eat Fish to Prevent Stunting, Improve Brain Performance and National Resilience" webinar, he highlighted that 100 grams of milkfish in the Makassarese fish dish Palumara has 20 grams of protein, which is equal to that of salmon fish, and two milligrams of zinc (Fe) as compared to salmon fish with only 0.25 milligrams.

Indonesia: Salmon Importers Started to Make Purchases Plans for 2023 (Nov 9)

In 2022, nearly 80% of salmon consumed in Indonesia comes from Chile and Australia, with the remaining 20% coming from Norway and other European countries. As the end of 2022 approaches, many salmon importers have already used their import allocation by the Indonesian government. Importers started making plans for the 2023 import and sales productions. Forecasts indicate a decline in Salmon prices in Indonesia by the end of 2022 due to slowing demand. Salmon HON prices will drop to USD 8.4-9/kg. In W45, some importers are selling current supplies at breakeven or at a loss to raise money in preparation for 2023 in the hopes that they will keep the quota that the Indonesian government would grant them.

Indonesia: The Government Has Permitted Seafood Imports From Norway in November 2022 (Nov 12)

In November 2022, the Indonesian government permitted seafood imports from Norway as the Health Certificate (HC) of Norway was updated. Since 2019, Norway was unwilling to update its Health Certificate HC to follow the new local regulations implemented by the Indonesian government. After the update, Norway's seafood products like Salmon and Atlantic Mackerel started imports to the Indonesian market. And seafood importers have begun to search for seafood products from Norway.

Norway: Seafood Exports Show Historic Growth in October (Nov 7)

According to the Norwegian Seafood Board, NOK 15.4 billion worth of Norwegian seafood was exported in October. This is the highest value in one month and an increase of NOK 3.3 billion representing 27% as compared to the same month last year. The export value in October was NOK 727 million higher than the previous record month, which was September 2022. So far, this year has achieved record high export values ​​for several species such as salmon, cod, trout, pollock, haddock, and shrimp.

Turkey: Turkish Salmon Is on Its Way to Becoming a World Brand (Nov 10)

DKİB, a body that promotes all the products of Turkey's aquaculture sector, opened a special bracket for Turkish salmon, exhibited the products of Turkish salmon producers in the region under the registered brand 'Turkish Salmon from Black Sea', and organized tasting events. While answering the questions of curious customers about Turkish salmon, which is its biggest competitor, the participating companies of the DKİB Aquaculture UR-GE project in Busan for the fair visit also held one-on-one business meetings with the importer companies that visited the stand. Emphasizing that Turkish salmon is well known in many markets such as Vietnam, Japan, China, and Thailand, Yıldırım said: "However, although South Korea is the 5th country that imports the most fisheries products in the world, our fish exports to this country are quite limited. For this reason, we care especially about the South Korean market. Every customer who tastes our fish expresses that they like Turkish salmon very much, and in a short time, it is also in the South Korean market. It shows that we will go a long way. We think that we have made an important step towards reaching Turkish salmon to the world's tables with these successful promotional activities."


Vietnam: Expected in 2030 to Reach 1.4 Million Tons of Marine Aquaculture, Export Revenue of 2 Billion USD (Nov 9)

According to the Directorate of Fisheries, in addition to mollusks and crustaceans, marine fish and seaweed also play an important role in developing marine aquaculture. Up to now, the marine farming area is estimated at 80,000 hectares, the total marine production is about 750,000 tons, of which mollusks are more than 470,000 tons, sea fish is 58,000 tons, lobsters are 2,200 tons, and seaweed is about 130,000 tons. Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development said that up to now, the area of ​​marine aquaculture is estimated at 80,000 ha, and Vietnam has great potential to develop marine aquaculture in general and industrial mariculture in particular, thanks to its coastline. length from North to South. According to Deputy Minister Tien, if marine farming is not promoted from now to 2025, there is no premise to reach 1.4 million tons of marine aquaculture by 2030. To achieve this goal, businesses must be called for investment into marine aquaculture, contributing to building a sustainable marine aquaculture ecosystem in the high seas, inland areas, and coastal areas. Recently, aquaculture in Quang Ninh has developed rapidly. In the first 10 months of 2022, the province's aquaculture area will reach 32,000 hectares, up 50.66% over the same period; in which the marine farming area is 20,000 ha, the total farming output is 68,000 tons, equal to 82% of the plan.


US: Shrimp and Kampachi Get a USD 1.25 Million Boost From Hawaii Sea Grant (Nov 9)

Improving the reproduction of kampachi (also known as longfin yellowtail or Almaco Jack) and Pacific white shrimp in Hawaiʻi is the focus of a University of Hawaiʻi at Mānoaʻs College of Tropical Agriculture and Human Resources (CTAHR), UH Sea Grant College Programme (Hawaiʻi Sea Grant) and Hawaiʻi Pacific University’s (HPU) Oceanic Institute (OI) research partnership. Nearly USD 1 million in funding from a National Oceanic and Atmospheric Administration (NOAA) Sea Grant will address the key barriers of kampachi production by focusing on improving egg quality, fecundity (ability to produce many offspring), and juvenile development. Nearly USD 250,000 will fund a second project that will use a genomic approach to improve the reproduction performance of shrimp, including laboratory experiments to assess and improve their genetic traits.

India: Price Drop of Shrimp Across Indian States in W44 (Nov 7)

Indian shrimp farmers saw a sudden drop in Vannamei shrimp prices in W44. After the Andhra government lowered the feed prices and fixed minimum purchase prices in W43, the price level decreased. The exporters dropped prices, but they varied across the regions. Some Andhra exporters dropped prices drastically to catch the Chinese demand. Although Chinese buyers are still expecting a further drop in prices, they are keeping demand constant. Tamil Nadu sustained better pricing, with an increase of USD 0.06/kg above their corresponding Andhra sizes. Due to their exports mainly going into the high-paying EU countries, it cost the Tamil exporters extra freight to bring in the raw materials from Andhra. Orissa saw a significant decrease in price, where 140-160 counts dropped to USD 1.90/kg levels. Chinese demand thus seems to be favoring Orissa suppliers in the upcoming weeks.

Egypt: Shrimp Prices (Nov 13)

The prices of shrimp in Egypt on 13-11-2022 ranged from 100 to 400 pounds while Shrimp production at El Debeh farm stood at 102 tons.

Indonesia: High Japanese Demand for Indonesian Mantis Shrimp (Nov 10)

The demand in Japan for Mantis shrimp/squilla mantis (Species: Harpiosquilla raphidea) has been high for many years as it is an ingredient for many sushi recipes. The price for Indonesian frozen cooked peeled Mantis shrimp stood at USD 15/kg in W45, and the price for frozen whole cooked Mantis shrimp stood at over USD 10/kg. Indonesian Mantis shrimp is available from the western part of Sumatera island, including cities like Aceh, Padang, Medan, Sibolga, and in the North Java Sea within Central up to East of Java island. The monthly availability in Indonesia for the industrially processed whole-cooked mantis shrimp and meat (per required specifications of Japan market) stands around 8-10MT in West Sumatera. On the other hand, large-size mantis shrimp above 15cm is sold as a live commodity to restaurants in Hong Kong, Malaysia, China, and Macao and exported via air shipment from Indonesia.

Ecuador: Ecuadorian Exports Grow Since 2017, Boosted by Shrimp Farmers (Nov 7)

Ecuadorian exports have had continuous growth since 2017, which borders an average of 8%; until August 2022 it has risen 21%, projecting one of the best years, according to the Ecuadorian Federation of Exporters. It is a growth that is supported mainly by the sale of shrimp, a sector that found its north of success in research, technology, and investment. Until August of this year, shrimp exports in volume grew by 33%, which has allowed adding 5,085 million dollars for sales to the world.

Ecuador: Shrimp Exports to China Increased to a Record (Nov 11)

Compared to the same period last year, shrimp exports increased by 38% in volume and 34% in value. Sales to China are increasing, bringing this market's share of Ecuador's total shrimp exports to 60%. In another development, Ecuador's shrimp and shrimp exports to the US in September increased by 2,000 tons to 16,000 tons. Sales to the European market also increased by 2,000 tons to 15,000 tons. Ecuador usually ranks 2nd or 3rd in the top shrimp suppliers to the US in terms of volume. However, Ecuador is gradually closing the gap with India, the largest shrimp exporter to the US. Generally, in 9 months, Ecuador's shrimp exports to markets brought in more than 6 billion USD. The export price of shrimp was relatively stable for key markets in September. Accordingly, in China, the average export price of shrimp was about USD 6.19/kg, down only 1% from 6.2 USD/kg in August. The average selling price to all markets is about USD 6.37/kg, down USD 0.04/kg. Ecuador's shrimp production in 2025 is forecast to double from 2021 to about 2 million tons. The application of advanced technology will help drive production growth from 1.01 million tons in 2021 to 1.35 million tons in 2022.

Vietnam: Nghi Thuy Fishing Port in Nghe An, Fish and Shrimps Are Piled up So Much That They Can’t Be Counted (Nov 10)

After one night, each boat docked at Nghi Thuy fishing port, Cua Lo town, Nghe An province, on the wharf under the boat, in the sky under fish and shrimp, and the shrimp could not be counted. The sea turtles brought to the shore were piled up, and traders were waiting to buy them, helping fishermen earn tens of millions of dong. This year's shrimp season is stronger than in previous years. After only one night, each small boat returned with 4-5 tons of shrimp, earning about 30 million VND.

Vietnam: Shrimp Exports (Nov 10)

Not only pangasius exports grew strongly, but the export of many other aquatic products also increased. By the end of October 2022, shrimp exports reached nearly USD 3.8 billion, up 19%. Shrimp exports in 2022 are expected to reach over USD 4.4 billion, up 14% compared to 2021. The main exported shrimp product is Vannamei shrimp, accounting for 75%.

Thailand: A Loan of 500 Million Baht From Farmers Aid Fund (Nov 7)

On November 7, 2022, Mr. Kanchit Hemaraks, president of the Thai Shrimp Farmers Network Association, revealed to the "thana economy" that the Department of Fisheries has approved a loan from the Farmers Aid Fund about 500 million baht for approximately 1,000 farmers for 500,000 baht each and its interest-free. The Cabinet has already approved the project to enhance liquidity for shrimp farmers in phase 1.

Argentina: Fall in Fishery Exports (Nov 11)

The most worrying picture of the sector is that of the whole shrimp, which registered a 20% drop in demand and a 6% drop in price which generated a 25% drop in income. This value seems to contradict what many businessmen have stated regarding a 20% price drop. The explanation is in Spain, its main destination, where the price fell by exactly that percentage. But not only has the price in Spain collapsed, but also the demand, which this year fell by 16% until September 30. Italy, another of the most important markets, demanded 68% less and the price fell 12.5%. In Japan and France, the level of demand was maintained, but prices also fell. In total, 59 thousand tons have been exported at an average value of USD 6,631. Shrimp tails, as indicated by the summary prepared by CAPECA, registered a drop in demand of 26% but an increase in the average price of almost 9.6% meant that the impact was not felt as strong. In any case, the fall was important, of the order of 18.7%. The average price was located at USD 7,967 per ton. The main country of destination was Spain, despite having required 18% less product. With the same level of demand, China, which had become the main market in recent years, 2022 bought 32% less than last year and with one of the lowest prices on the market. Peru, the United States, Thailand, Italy, Vietnam, and Russia also reduced their demand. In total, 40,000 tons were exported at an average price of USD 7,967.


Vietnam: Squid Exports (Nov 10)

The spectacular growth of seafood exports in 2022 is due to the resilience of many items. Vietnam's squid and octopus exports in the third quarter of 2022 reached nearly USD 214 million, up 53% over the same period in 2021. Accumulated in the first nine months of 2022, squid and octopus exports reached 557 million USD, up 37% over the same period.

Argentina: Illex Squid Exports (Nov 11)

Squid is one of the few species that exhibit positive data. Exports grew 20% in volume and had an average price increase of 4.6%, which allowed the income of dollars to grow by 25.4%. The average price was USD 2,145 per ton. Demand from South Korea increased by 13% and Thailand by 100%, becoming the two main buyers for the 2022 harvest. China, which had been the largest buyer last year, reduced its demand by 11%. In Spain, sales fell by 1.6% but this was offset by a price increase of almost 15%, being the country that paid the best price, at USD 3,109 per ton.

Chile: Low Volume of Giant Chilean Squid in W45 (Nov 11)

In W45, fishermen reported low volumes of giant squid available in the central region of Chile. However, fishermen are concerned that squids could disappear for months as in previous seasons. The price for giant squid is forecasted to increase in the upcoming weeks.

Egypt: Squid Prices (Nov 13)

The prices of a kilo of squid in Egypt on 13-11-2022 reached 200 pounds.


Vietnam: Imports of Tuna to the EU Increased by a Third (Nov 9)

With almost USD 31 million (€31.7 million) of tuna exports from Vietnam to the EU in September this year, there was an increase of 33% compared to the same period in 2021, which increases tuna exports in the third quarter of 2022 to over 46 million dollars and by 47% compared to the same period in 2021. For Vietnamese exporters, this is an encouraging sign, coming after a slight decline in the second half of the year. From January to September 2022, Vietnamese tuna exports to the EU exceeded USD 123 million, representing a 16% increase over the same period in 2021. The increase in demand for Vietnamese tuna in the EU is due to the approaching holidays at the end of the year and a much lower price, as it enjoys the EVFTA tariff advantage over tuna from other exporting countries. This year, imports from Italy, which has always been one of the main markets for Vietnamese tuna, fell by 70%, as did imports from Spain. On the contrary, Romania (102%), France (155%), and Denmark (305%) recorded an increase in imports. Vietnamese analysts predict that inflation in Europe will continue to grow, as will the consumption of tuna, especially canned. However, the devaluation of the euro against the dollar is making canned tuna more expensive for Europeans, who tend to increase their purchases of raw tuna at more competitive and favorable prices. This is a positive scenario for Vietnamese exporters, who expect demand for tuna to continue to rise in the last months of the year.

Vietnam: Tuna Export (Nov 10)

Tuna exports by the end of October were estimated at USD 890 million, up 50% over the same period. In 2022, for the first time, tuna will become an export industry of over 1 billion USD. Taking advantage of domestic and imported raw materials, tuna businesses process diversified products and promote the export of frozen loin/fillet and canned fish to markets and flexibly follow market trends in the world. the period of Covid-19 as well as inflation.

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