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W47: Weekly Seafood Update

Updated Nov 29, 2022
Tridge's global market analysts and country representatives take a deep dive into what happened during W47 in the global seafood landscape. In summary, the Russian total crab catch reached 22,390 tons, indicating an average of 776 tons per week. Although lobsters are available all year round in the UK, the winter catch results in a harder-shell lobster with more meat and a stronger flavour resulting in increasing prices in the European market. In Mauritania, the 2022 winter octopus season has been postponed to January 1, 2023 due to a large stock carryover. In W46, Chilean fresh fillets trim D Atlantic salmon FOB prices were USD 5.45-5.65/lb for the 2/3 lbs and USD 5.55-5.75/lb for the 3/4 lbs. South Korean seaweed production is predicted to be 10.96 million bundles in November, up 11.2% compared to the same month last year (9.86 million bundles). In Vietnam, 2021/22 seafood exports is expected to reach a turnover of USD 11 billion with shrimp accounting for USD 4.3 billion. Turkish snail exports to 8 countries earned USD 7,113,563 in the first 10 months of 2022. Argentinian squid exports totaled 142 tons with an average price of USD 2,148, representing an increase of 20.5% and 26% in volume and value respectively. Lastly, Vietnam's tuna export turnover reached more than USD 884 million in the first 10 months of 2022, up 49% compared to the same period last year.


Russia: Overview of the Fishing Situation in Kamchatsky Krai (Nov 23)

The total catch of 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 Fisheries Agency (SVTU FAR) was 22,390 tons (+776 tons per week), of which 9,907 tons were within the investment quotas. The total catch was comparable to the same indicators in 2021 (in 2021, the catch was 22,339 tons). 

Russia: New Fees for Fish and Seafood Have Been Set (Nov 23)

Russian President Vladimir Putin signed a law establishing new rates for catching fish and seafood (excluding marine mammals) in inland waters. The corresponding document was published on Monday. A single approach will be applied in determining rates: for each object (fish, algae, other aquatic animals and plants), the rate will be calculated at the level of 4.8% of the average price set by manufacturers when selling such products. The fees for king crab are up to 80 thousand.

Russia: Seafood Harvest in Kamchatka (Nov 24)

Positive dynamics was observed in pollock (+80,587 tons), Pacific herring (+17,432 tons), greenlings (+2,936 tons), cucumaria (+735 tons), birdie snow crab (+548 tons). The development of industrial, including coastal quotas (TAC) for investment purposes by users of the Kamchatka Territory was 86.1% (catch - 49,443 tons, which was 12,459 tons more than last year at the same time).

Egypt: Fish Prices on November 21, 2022 (Nov 21)

According to the data of the official website of the Obour Market, the price of crab dropped by 5 pounds to range between 28 and 82 pounds.


Europe: Lobster Prices Increase During the UK Winter Season Due to Low Supply (Nov 23)

The winter season, from November to February, is the best time of year for the consumption of European lobster. Although lobster is available all year in the UK, the winter catch results in a harder-shell lobster with more meat and a stronger flavour. Additionally, it is easier to transport lobsters alive during the winter months as the lobsters are in better shape. However, lobster prices rise as Christmas approaches because of the low catch caused by weather issues. During the spring and summer months, the lobster has a softer shell with less meat content and is transported in recirculating water tanks. This is more challenging because of the stress caused by different temperatures along the process of fishing, storing, and transporting.

Netherlands: Opportunities for Scaling up Lobster Fisheries (Nov 21)

The invasive lobsters are commercially fished on a limited scale. Restaurants are open to lobsters caught in the Netherlands if they are shelled, the price is competitive and there is continuity in supply. 


Morocco: Demands to Resume Fishing Due to the Worsening Situation of Fishermen in Dakhla (Nov 22)

The Guardian Ministry considered that the length of the suspension of marine fishing activities was not an arbitrary choice, but rather a necessity linked to the national fisheries management policy, as it is based on achieving economic, social and environmental development goals, especially the octopus fishery, which has important economic and social benefits. The suspension of fishing activities came based on the results of the evaluation campaigns carried out by the National Institute for Research in Marine Fishing before the start of each fishing season to study the biological characteristics of this stock, as it was found that the octopus trap is in a critical and unprecedented situation, especially in the marine area south of Sidi El Ghazi in the Boujdour province. This would lead to the threat of thousands of jobs that work in the trap, whether at sea or on land, in the event that fishing activities continue in a depleted trap. The winter season for octopus fishing is scheduled to start on December 15, after the ministry reached important scientific indicators from the National Institute for Research in Marine Fishing indicating a good improvement in octopus stocks, which encourages allowing boats and ships of the three fleets to return to fishing circles to resume fishing. Its activities have been suspended for months. Today, Wednesday, a meeting is scheduled to be held at the headquarters of the Ministerial Guardian Sector to prepare for the start of the hunting season.

Mauritania: Winter Octopus Season Is Postponed to January 2023 Due to an Abundance of Unsold Stock (Nov 24)

The 2022 winter octopus season in Mauritania has been postponed by one month, from December 1, 2022, to January 1, 2023. This is due to a request from the suppliers as a result of the large stock carryover from last summer, mainly in northern Mauritania, where octopus is primarily fished. In W47, there is a slight decline in the octopus price due to the ongoing sales promotion in the market to clear stock.


Russia: Increased Tax Rates for Catching Fish and Seafood (Nov 23)

Fee rates for most aquatic biological resources will be increased. Rates will rise only for those types of fish and seafood that are mainly exported. Therefore, for sockeye salmon the tax will increase from 20 thousand to 30 thousand per ton.

Chile: Price of Chilean Fresh Fillets Trim D Atlantic Salmon in the USA Market Slightly Drop In W46 (Nov 21)

Prices in the North American market for fresh Atlantic Chilean salmon fillets continue to drop in W46. Chilean salmon producers mentioned the demand is stable while the supply is slightly increasing, generating downward price adjustments. In W46, prices of FOB MIA were USD 5.45-5.65/lb for the 2/3 lbs and USD 5.55-5.75/lb for the 3/4 lbs.

Chile: The Strike of Chilean Truckers Affects Moving Cargos of Fresh Salmon for Export to the USA in W47 (Nov 24)

After the Chilean government declined to lower the fuel prices, cargo transport in Southern Chile joined the national strike that started on November 21, 2022. Products such as salmon were unable to be mobilised to the Santiago airport. Different groups of truckers are asking for a 30% fuel price reduction for six months amid the sharp rise in transportation costs. Due to this, the supply of fresh salmon from Chile will be lower until an agreement is confirmed, causing a price increase in the North American Market.


South Korea: Prospect for Stability in 2023 Seaweed Harvest (Nov 21)

It was observed that the harvest of seaweed produced in 2023 would maintain a stable trend. However, as the damage from Kim Hwangbaekhwa is increasing in Seocheon, Chungcheongnam-do, it seems that there is a need to keep a close eye on the future situation. According to data from the Fisheries Observation Center of the Korea Maritime Institute (KMI), seaweed production in October was 1.8 million, a significant increase from 410,000 in the same month last year. The centre also predicted the production of seaweed in November to be 10.96 million bundles, up 11.2% from the same month last year (9.86 million bundles). This is because, unlike last year, when crop production was sluggish while the amount of facilities produced in 2023 increased slightly from last year, it was predicted that the sea conditions would be stable and the harvest would be good this year. The capacity of seaweed production in 2023 is estimated to be 1,131,000 bales (1 bale = 2.2m × 40m), an increase of 0.9% compared to 2022. By region, Jeonnam, the main production area, accounted for 78.7% of the total with 890,000 books, up 1.2% from last year, followed by Jeonbuk (8.3%), Chungnam (5.9%), Incheon/Gyeonggi (5.2%), and Busan (1.9%) was in order.

South Korea: Jeonnam Institute of Maritime and Fisheries Science, Stable Production Support for Laver Farming Fishermen (Nov 21)

The Jeollanam-do Institute of Maritime and Fisheries Science announced that it operated an on-site counselling centre to support the stable production of seaweed by fishermen in Goheung, who have completed harvesting seaweed in 2023 by the 11th. On-site counselling offices were operated at three locations: Guam Market, Balpo Market, and Sisan Port. Through microscopic verification, the current status of laver positive was comprehensively diagnosed, including the health of laver fronds installed in nearby fishing grounds, whether neutral spores were attached, and whether or not yellowing occurred. In addition, on-site diagnosis results were individually informed, and aquaculture technology training was provided, such as exposure time adjustment for growth management by fishery, hair care management tips such as washing, monthly management methods, and disease response methods. Park Joon-taek, head of the Jeonnam Provincial Institute of Maritime and Fisheries Science, said, “For the stable production of seaweed, which is a major aquatic product in Jeollanam-do and accounts for 25% of domestic aquatic food exports, systematic management is necessary from the initial cultivation stage.” It is expected to contribute greatly to resolving the difficulties in the aquaculture field.


Thailand: High Market Demand for Thai Tiger Prawns Shrimp for January 2023 (Nov 24)

While there is significant market demand, particularly from China, Thailand's supply of tiger prawns is only available in relatively small amounts. The buyers ordered a large number of tiger prawns for January 2023 for the Chinese New Year holiday. Many manufacturers have stopped accepting new orders since September and are accelerating production at full capacity to deliver products in time for this Chinese New Year's festival. For new orders, manufacturers will start to deliver products from February 2023 onwards.

Vietnam: Overcoming Difficulties of Seafood Industry in Many Localities to the Finish Line (Nov 21)

This year, the seafood industry in the Mekong Delta faced many difficulties due to natural disasters, epidemics, high prices of materials and breeds. However, overcoming those disadvantages, many localities have had bright spots, completing the set target plan. In Tra Vinh , according to Mr. Tran Van Dung, Deputy Director of the Department of Agriculture and Rural Development, so far, nearly 200,000 tons of aquatic products have been harvested, of which the aquaculture production is over 152,000 tons, the catches are over 47,800 tons; achieved 85% of the plan, an increase of over 1,000 tons over the same period. Reports of localities sent to Tra Vinh Fisheries Sub-Department show that up to now, the farming area and annual harvest have reached the set targets. In farming, in salt and brackish water, farmers have so far raised more than 1.5 billion tiger shrimp seed on an area of ​​23,100 hectares, over 5.7 billion white shrimp with an area of ​​over 7,900 hectares, in which high density intensive farming is over 2.2 billion with an area of ​​over 1,100 ha and over 130 million sea crab varieties with an area of ​​nearly 23,300 ha. In freshwater areas, farmers have stocked over 360 million shrimp and fish of all kinds with an area of ​​over 4,300 hectares. Mr. Nguyen Thanh Phong from Thanh Hai commune, Thanh Phu district said that applying high technology to shrimp farming can achieve super profits. However, the farming process needs to master techniques, know how to regulate water sources, to ensure that shrimp have a good living environment. Currently, Mr. Nguyen Thanh Phong raises shrimp with high technology 3 crops/year with 4 ponds, total area is 2ha. With the current price of shrimp at about VND 180,000 - VND 190,000/kg, harvesting 22 tons/crop, after deducting costs, Mr. Phong's profit is about VND 1.5 billion/crop.

Vietnam: There Is Plenty of Room to Export Shrimp to the UK Market (Nov 21)

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), by the end of October 2022, the UK imported seafood from Vietnam with a value of nearly 272 million USD, a slight increase of 3% compared to the same period last year. Nearly 60% of export turnover to the UK is from vannamei shrimp, pangasius accounts for 20%, followed by black tiger shrimp, tuna, cod, squid, and other seafood products. While whiteleg shrimp exports to the UK decreased by 9%, pangasius still maintained a growth rate of nearly 32% over the same period in 2021.

Vietnam: Shrimp Prices Increase; Farmers Expect a Year-End Crop (Nov 21)

Over the past week, workers at Mr. Bui The Vuong's shrimp farm (An Ngai commune, Long Dien district) have been busy taking care of the pond for nearly 2 months to serve the Lunar New Year market. Mr. Vuong said, to serve the Tet market, he has released about 1.5 million seeds for 15 ponds, an increase of 20% compared to last year. The Tet crop is expected to reach over 50 tons. According to shrimp farming households in the province, normally the price of shrimp will increase at the end of the year. Currently, the price of raw black tiger shrimp of 30 pieces/kg fluctuates from 195,000 to 200,000 VND/kg; Vannamei shrimp 100 pcs/kg, price ranges from 95,000 to 110,000 VND/kg; Vannamei size 30 pieces/kg cost about 170,000 VND/kg, shrimp size 20 pieces/kg cost from 230,000 VND or more. Besides, from the beginning of 2022 until now, the export market of raw shrimp has been very positive, businesses have increased the purchase of shrimp to serve export orders, leading to a continuous increase of raw shrimp. This is a good sign for shrimp farmers today.

Vietnam: Bac Lieu Province Developing a Sustainable Shrimp Industry Value Chain (Nov 26)

Bac Lieu province ranked third with total export value in the first 9 months of 2022 reaching US$631.50 million, up 9.88% over the same period. In which, frozen shrimp was estimated at USD 614.83 million, equaling 68.79% of the plan, up 9.9% over the same period. However, the seafood export turnover of Bac Lieu province is not commensurate with the potential and existing strengths. In 2021, Bac Lieu produced over 209,910 tons of shrimp, but the number of raw shrimp put into processing plants only stood at about 115,000 tons, accounting for 54% of the total output. This means that 94,910 tons, accounting for about 46% of total shrimp production, are not sent to processing plants in the province. Bac Lieu province is considered the largest shrimp seed production centre in the Mekong Delta, producing 34-35 billion shrimp seed per year, accounting for 50% of the seed market share in the Mekong Delta and 30% of the country's seed market share. Currently, the province has 349 hatcheries producing and rearing shrimp seed, 30 establishments producing giant freshwater shrimp seed, designed capacity of 800 million posts/year with an output of 600 million shrimp/year. In the first 9 months of 2022, Bac Lieu province produced 29 billion post larvae. In which, whiteleg shrimp 18 billion posts, black tiger shrimp 11 billion posts, and at the same time meet the demand for seed in the province. Besides, the whole province has 177 establishments producing and trading food and environmental improvement products in aquaculture.

Vietnam: Identifying Challenges and Opportunities in the Seafood Industry in 2023 (Nov 27)

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this year's seafood export is expected to reach a turnover of about 11 billion USD. In which, shrimp exports reached $ 4.3 billion, pangasius about $ 2.5 billion, seafood $ 3.2 billion and tuna $ 1 billion. All products have an average growth of 18 to 77%. The US, EU, China, and Japan markets are in the top 4, accounting for 74% of export turnover. Particularly for the US market, for the first time, seafood turnover reached over 2 billion USD. However, at present, demand in Vietnam's main seafood consumption markets is slowing down when the global economy is at risk of recession.

India: Dropped Prices for Vannamei Shrimp in W47 (Nov 24)

With the Vannamei prices down for shrimps in India, farmers are disappointed and are limiting the production for the next season that will be harvested in February 2023. With lower production, they are expecting better prices for the coming produce to cover up losses in the past season. Producers anticipate the export market to stabilise and prices to rise for the upcoming season.

Argentina: With a Shrimp That Lost Price, Fish Exports Fell by 6.7%

Exports from the fishing sector fell by 6.7% between January and September, compared to the same period last year. According to the Chamber of Fisheries and Freezer Shipowners (Capeca), shipments of shrimp, hake and squid generated foreign currency for US$ 1,427 million. The main destination for fishery exports in 2022 was the Asian market, with sales of US$ 534 million, followed by Europe with US$ 472 million. In the American continent, shipments to the centre and north totaled US$150 million and in South American markets reached US$126 million. Of these products, shrimp represents 50% of the shipments in this value chain. During the second quarter of the year, its exported volume fell by 19.9% and its price in foreign markets by 24.9%.

Argentina: Shrimp Exports Continue to Fall (Nov 25)

The situation for the whole shrimp is one of the most critical in the sector given that the demand fell by 21% and the average price fell by 9.3%, remaining at 6,510 dollars per ton, therefore, the income of foreign currency was reduced by 28%. In total, 70 thousand tons have been exported. The report marks an alarming fact, stating that "the price of whole shrimp has not yet found a floor" and points out that the accumulated drop in price is a consequence of the sharp drop registered in relevant markets during the last four-month period, "which averaged -6.6% for July, -10.3% in August, -15.3% in September and -26.3% in October”. The main market for this product is also Spain and this year it has bought 20% less at a price 8% lower than in 2021; the other important market for whole shrimp is Italy and its drop in demand was so significant that it dragged it down to fourth place this year on the list of top destinations. In the Italian market, sales fell by 68% and the operations that were completed were at a 16% lower price.

In the month of October, the drop in sales is also observed in shrimp tails, since the decrease in volume that had been registered reached 26% and the increase in price of 9.5% no longer abated in the same way the impact of the drop in foreign currency income that reached 19%. In China, the price increased by 14% but the drop in demand was 27.5%. In Spain, the drop in sales was 17% and the price increase was below average, managing to improve the price by only 6%. Sales also fell in Peru; USA; Thailand; Italy; Vietnam; Indonesia; Russia and Guatemala. Shrimp tail sales have fallen in all markets. 43,849 tons have been exported at an average price of 8,014 dollars, but according to the report, fortunately the price has begun to rise in recent weeks, reaching levels similar to those reached in June this year, at a rate of 8,711 dollars per ton . It is good news for those who are currently starting the Rawson season.

Russia: Faroe Islands Extends Fishing Agreement With Russian Government (Nov 26)

The Fisheries Agreement has been in existence since 1977 and is reviewed every year. The agreement was extended despite objections from the EU and Denmark due to the situation in Ukraine. Among other things, the former Minister of Foreign Affairs of the Yenis av Rana said that, in his opinion, the Faroe Islands should stop any cooperation with Russia. The agreement means that the Faroe Islands will receive a quota for cod, flounder, shrimp and haddock in the Barents Sea. The Russians will be able to fish in Faroese waters and reload the catch in Faroese ports.

Ecuador: W46 Prices Update for Vannamei Shrimp (Nov 23)

In W46, the price in Ecuador for big and medium-sized Vannamei shrimps out of the pond decreased by USD 0.10-0.50/kg, while the price for smaller Vannamei shrimps out of the pond remained stable. The transaction prices for shrimps from the local ponds are the following:

  • 20/30: USD 4.40/kg
  • 30/40: USD 3.20/kg
  • 40/50: USD 2.90/kg
  • 50/60: USD 2.50/kg
  • 60/70: USD 2.40/kg
  • 70/80: USD 2.20/kg
  • 80/100: USD 2.00/kg
  • 100/120: USD 1.80/kg
  • 120/140: USD 1.60/kg

Ecuador: The Definition of the Trade Agreement Is in the Field of Mexico (Nov 26)

The discussion on the entry of Ecuadorian shrimp and bananas into the Mexican market was left for the end of the round of negotiations, as they were considered "controversial issues" by the Mexican government, chaired by Andrés López Obrador. Ecuador is one of the main world exporters of the two products, which is why Mexican businessmen feel threatened in those sectors. Especially those from the Mexican states of Sinaloa and Tabasco. 

Egypt: Fish Prices on November 21, 2022 (Nov 21)

The price of shrimp in Egyptian markets ranged from 100 to 400 pounds while the shrimp production at Al-Diba farm reached 102 tons.


Turkey: No One Knows the Taste of Sea Snails, Sold to the World (Nov 25)

While foreign currency inflow of more than 15 million dollars is obtained from sea snails in 20 months from Turkey, Far East countries show more interest in this product. In the 10-month period of this year, 7,113,563 dollars foreign currency inflow was provided in the export of sea snails to 8 countries, namely South Korea, China, Japan, Taiwan, USA, Italy, Georgia and Bulgaria. When the fishermen from the Eastern Black Sea region could not find what they expected, especially in bonito fishing, they preferred this product.


Russia: Overview of the Fishing Situation in Kamchatsky Krai (Nov 23)

By November 22, 2022 the level of development of quotas (TAC) by users of the Kamchatka Territory amounted to 84.3%. There were negative dynamics compared to 2021 observed for cod - 21,478 tons less, for commander squid - 12,791 tons less, for halibut - 3,202 tons less, for grenadier - 2,210 tons less, for saffron cod - 1,435 tons less tons. 

Argentina: Squid Exports (Nov 25)

As has happened throughout 2022, squid exports have been the ones that improved the total number of exports, partly hiding what happens with other products. 142 tons have been exported at an average price of 2,148 dollars, this represents an increase in sales volume of 20.5% and in foreign currency of 26% due to a price increase of 5%. South Korea, which did not feature in 2021 exports this year, was the top destination, where 25% of total sales were shipped. Thailand ranked second in the list of the main markets with an increase in demand of 102% and in Singapore the demand increased by 104.5%, placing itself below China, which this year has required less squid; 12% less product was destined for this market. The best price was paid in Spain, at a rate of 3,121 dollars per ton in a demand that remains stable at around 9,000 tons. The lowest price was paid by the main market, South Korea. Despite the decline in sales in some markets, the emergence of new ones and with large purchase volumes, resulted in a very positive year for the jigging sector.

Egypt: Fish Prices on November 21 (Nov 21)

Fish prices fell on November 21, 2022 in the local market in Egypt where a kilo of squid reached 200 pounds while a kilo of “squid, calamari, and sabya” fell by 10 pounds to range between 110 and 220 pounds.


Global: Progress on Harvest Strategies Urgently Needed to Safeguard Tuna Stocks (Nov 23)

Progress on harvest strategies is urgently needed to safeguard tuna stocks in the Western Central Pacific. The Marine Stewardship Council (MSC) is calling on member governments of the Western Central Pacific Fisheries Commission (WCPFC) to pass important conservation management measures for tuna stocks at the 19th Regular Session of the Commission, taking place in Da Nang, Vietnam from 27 November to 03 December. These measures will safeguard the long-term sustainability of the world’s most important tuna stocks by committing fishing nations to pre-agreed actions to safeguard tuna stocks should they ever decline below sustainable levels. Progress on agreeing harvest strategies is increasingly critical to the ongoing certification of these fisheries to the MSC’s global standard for sustainable fishing.

Spain: Achievement of a 10% Increase in the Bluefin Tuna Quota by 2023

The Spanish fishing fleet will have a quota of 6,784 tons of bluefin tuna catch for the year 2023, which represents an increase of 10% compared to 2022, according to the agreement reached at the annual meeting of the International Commission for the Conservation of the Atlantic Tuna (ICCAT) held between November 14 and 21 in Vila do Lobo (Portugal), in which the recovery of the reserves of this species has been verified.

Spain: Tuna Fleet Advocates for the Social Aspect After Achieving Good Environmental Sustainability (Nov 25)

The Spanish tuna fleet grouped in OPAGAC circumscribes the survival of the fleets responsible for tropical tuna to a position and definitive actions by Europe in the face of the illegal practices of other fleets that fish in the same fishing grounds. In this regard, and according to the data provided by OPAGAC, social sustainability, which affects the guarantee of decent working conditions, safety and well-being of the crews, already accounts for around 20% of the operational costs of the companies that have taken it on. In total, Europe imported more than 79,500 tons of tuna from these fleets last year for domestic consumption, according to data provided by the Organization of Associated Producers of Large Freezer Tuna Vessels (OPAGAC). In OPAGAC's opinion, the comparative injury with community production, which meets all legal requirements, is abysmal. According to this organization, the application of Convention 188 of the International Labor Organization (ILO), already in force, should be required of all imports into the community market, to guarantee that European citizens do not consume fish from ships "with slaves on board ” or in which the minimum social conditions established by the ILO are not respected.

Vietnam: Tuna Exports Have Decelerated (Nov 24)

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after months of good growth despite inflation, Vietnam's tuna exports slowed down in October 2022. Accordingly, this month's export value increased only 4% over the same period in 2021, reaching more than $76 million, the second lowest since the beginning of the year. Accumulated in 10 months of 2022, tuna export turnover reached more than USD 884 million, up 49% over the same period in 2021.

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