Analysis & Reports
W49: Weekly Seafood Update
Crab
Russia: The State Duma Is Waiting for a Decision on the Second Stage of Fish Investment Quotas (Dec 8)
According to the KP, the entire fishing industry froze in anticipation, of what will be the final decision of the body created to develop an agreed position of the State Duma, the Federation Council, and regional authorities of the fishing regions to finalize the main provisions of the document for the second reading. Most importantly, when it will take place because there is a week left until the second reading. The future of a strategically important industry and seven coastal regions of the country, as well as the price of fish for all Russians, depends on the results of the commission's meeting. The draft law on the second stage of the investment quota program assumes that 24% of pollock and herring harvested in the Far East will be given to investors who will be able to build new ships and coastal processing facilities. The project also provides that 50% of quotas for catching crabs and 100% for catching shellfish (scallops, trumpeters, sea urchins, and trepang) will be put up for investment auctions.
Norway: Norwegian Crab Exports in November (Dec 5)
Norway exported 120MT of king crab worth USD 8.09M (NOK 79M) in November when the export value fell by 32%, USD 3.7M (NOK 37M), compared to November last year, and the export volume went down 32%. The USA, Canada, and the Netherlands were the biggest markets for king crab in November. King crab had a challenging market situation in November compared to last year.
Norway also exported 198MT of snow crab worth USD 2.56M (NOK 25M). No snow crab was exported in November last year. Indonesia, the USA, and the Netherlands were the biggest markets for snow crab. Indonesia was the largest market for Norwegian snow crab, with 129MT worth USD 1.54M (NOK 15M) accounting for 60% of the exports.
Egypt: Fish Prices in the Transit Market (Dec 6)
Fish prices witnessed a state of stability in the transit market where crabs ranged from USD 0.97-3.24 (EGP 24-80 pounds).
Tanzania: Tanzania-China Seafood Export Agreement in Effect in December 2022 (Dec 7)
The Tanzania-China Seafood Export Agreement became effective in December 2022 after Tanzanian president, Samia Suluhu Hassan signed the agreement during her recent visit to China. There is high demand in the Chinese market for Tanzanian wild Nile perch, fish maws, lobster and shrimp, king crab, queen crab, brown crab, ribbon fish, salmon, and flounder fish. In 2020, Tanzania’s seafood exports reached USD 140M while China’s seafood imports totaled USD 15.3B in the same year.
Octopus
Indonesia: Price of Giant Octopus Down 32% MoM in Western Region in W49 Due to Low Global Demand (Dec 7)
Giant octopus (species: octopus cyanea) of Indonesian origin has been experiencing low global demand for months because of the negative global economic situation. Suppliers in Medan, North Sumatra have been looking for buyers aggressively and are now able to offer the product at a much lower price than previously. In W49, the price of a giant octopus is USD 4.45/kg in whole-round fresh condition compared to the previous price in the western part of Indonesia of USD 6.5/kg in November 2022.
Salmon
Norway: Plan to Increase Fish Sales to Spain by 20% In 2022 With the Christmas Push (Dec 10)
Norway plans to increase the value of its exports to Spain by 20% in 2022, with the final boost from Christmas sales, to reach USD 745.55M (EUR 700M), according to the director of the Norwegian Seafood Council in Spain, Bojrn-Erik Stabell. He assures that 2022 has been a good year for foreign sales of the Nordic country, especially for salmon, which has increased by 4% and more if compared with the general decline in fish consumption among Spaniards. In relation to prices, he pointed out that among consumers there is an idea that fish and shellfish are expensive and, therefore, the Norwegian sector trusts that salmon will continue to be associated with a product with a good "quality-price" relationship ", as happened in the crisis between 2007 and 2011 when their sales were maintained. On the other hand, Norwegian sales have recovered globally in 2022 as during the pandemic the closures and the drop in air traffic reduced their sales in Asia or America, and in the latter continent, they are increasing now.
Vietnam: Prices of Chilean Salmon in the Vietnamese Market in W49 (Dec 6)
Vietnamese importers are selling Chilean Salmon at a price of USD 9.03/kg (VND 215K/kg) with MOQ from 5MT and USD 9.24/kg (VND 220K/kg) with MOQ under 5MT to retailers in the Vietnamese market.
Chile: Chilean Atlantic Salmon Prices in the US Market During W48 (Dec 5)
During W48, Chilean salmon farmers reported North American market-adjusted prices for all sizes of salmon. Delays in air shipments were reported due to salmon competing against fruits and flowers for airspace on flights out of Chile. Prices for fresh fillets trim D of Atlantic salmon were at USD 5.55-5.75/lb for the 2/3 lbs and USD 5.65-5.85 for the 3/4 lbs, all FOB MIA prices.
Turkey: Norwegian Salmon Is Scarce at Fish Stalls in Istanbul (Dec 10)
Salmon is scarce at fish stalls in Istanbul. The salmon from Norway was seen to be scarce on the counters. While the price of imported salmon reached USD 11.80 (TRY 220), domestic salmon took its place on the counter at USD 8.04 (TRY 150). On the other hand, it was noted that anchovy is another fish that is decreasing on the counters. It is thought that anchovy will become abundant after 15 days and its price will decrease by 50%.
Portugal: Tariffs and Fee Rates for 2023 in Portuguese Maritime Ports (Dec 6)
New tariffs and fees for import demurrage and detention, as well as shipment storage, will be implemented in Portuguese maritime ports beginning January 1, 2023. Regarding demurrage and detention, dry containers will have 7 days free of charge and reefer containers will have 3 days free of charge. After that, a fee of USD 157.39/day will be applied to both 20’ and 40’ reefers. The dry containers will be charged a fee of USD 20.99/day for a 20' container and USD 52.46/day for a 40' container, which will be applied between the 8th and 10th day. Following that, a fee of USD 41.97/day and USD 73.45/day will be applied. Regarding the storage, on the reefer containers, after one free day, tariffs will vary from USD 89.19-104.93/day for both 20’ and 40’ depending on the port of arrival, such as Leixões, Lisbon, or Sines. With dry containers, the tariffs are much lower, and there are more free days of storage (Lisbon 7 days, Leixões 5 days, and Sines 7 days). The prices will vary from USD 5.25-15.74/day, with Lisbon being the most expensive port regarding the storage of dry containers.
Seaweed
Jeju Seogwipo City announced on November 29 that it had completed the installation of seaweed farming facilities on coastal fishing grounds. According to Seogwipo City, support for seaweed farming facilities in coastal fishing grounds is a new project that promotes the restoration of the environment and ecosystem of fishing grounds, creates habitats and spawning grounds for aquatic creatures, and creates a new source of income for fishing through mass farming and sales of seaweeds other than conch and abalone. The city of Seogwipo spent USD 0.23M (KRW 300M) on a project cost to prepare a 5ha seaweed farming infrastructure at the Tosan fishing ground in Pyoseon-myeon. Construction began in June, and now the installation of aquaculture facilities and transplantation of staff members are complete, and the first harvest of staff members is expected in February next year. Next year's first production is expected to be about 40MT, and when dried, it is expected to be about 7K kg. An official from Seogwipo City said, "Next year, we will find and support the best fishing grounds for new seaweed farming so that we can produce high-quality staff members and lead them as a new source of income for the fishing villages."
Shrimp
According to the statistics of GACC, the amount of Ecuadorian shrimp imported into China from January to October 2022 was 443K MT to the value of USD 2.81B. The volume and value exhibited a decreasing tendency from January-June 2022 and recorded a peak in July 2022. Thereafter, the imported volume and value displayed a decent trend again. However, the overall assessment is that Chinese buyers booked more orders in the 2nd half than in the 1st half of the year. One reason for this trend might be that many important Chinese holidays fall in the 2nd half of the year and early in the new year such as the National Holiday, Mid-Autumn Holiday, and Lunar New Year. Moreover, bookings are driven by seasonality in that April to June have low demand while the rest of the year has higher demand. The average price was fluctuating between USD 6.6/kg and USD 6.2/kg, and based on the linear regression analysis, the price shows a decreasing trend.
China: Increase in Cold Water Shrimp Imports by 93% In 2022
In 2021, China imported 12,548MT of cold water shrimp (Pandalus Borealis) from Canada and 11,228MT from Greenland. But in 2022, China imported 19,318MT of cold water shrimp from Canada and 22,203MT from Greenland. China's import volume of cold water shrimp increased by 93% while its value increased by 159%.
Ecuador: Shrimp Prices Set to Increase Due to Impending Protests for Diesel Subsidy (Dec 5)
Ecuadorian shrimp farms are set to protest as shrimp out-of-the-pond prices have dropped significantly and the government will end the fuel subsidy for farms in W48. Depending on the state of the order in W50, the price may increase at any time if the farms begin to complain. External quotations are comparatively stable because there are still pending orders from the factories. The main demand of Chinese importers in W48 is 30/40 head-on shrimp, but the factory does not have this specification in inventory. The demand for orders in W49 is mainly 12kg brine frozen shrimp in China.
Ecuador: We have not received a satisfactory proposal from Mexico, says Julio José Prado (Dec 8)
The Minister of Production, Foreign Trade and Investment, Julio José Prado, assured on December 8, that there is still no satisfactory response from Mexico to the approaches that Ecuador has made to seal the trade agreement. "We have not yet received, despite the constant exchanges and the last one we did two weeks ago with President Lasso and Foreign Minister Juan Carlos Holguín, we have not yet received a satisfactory proposal from Mexico… I mean because we still do not have a proposal that allows us to say that bananas and shrimp are within that agreement with the levels of quotas, of export income that we believe are the minimum necessary to be able to enter that market," said Prado
Iran: Prediction of Sharp Jump in Shrimp Exports to China (Dec 5)
China has already purchased more than 32K MT of shrimp from Iran this year, accounting for more than 56% of Iran's total shrimp production during this period. Other buyers in the current calendar year are Russia, the United Arab Emirates, Qatar, and Oman. Hosseini said Iran plans to increase its annual shrimp exports to 160K MT by 2025, adding that production exceeded 68K MT in the eight months to the end of November. In recent years, Iran has encouraged increased exports of food and agricultural products as part of an attempt to diversify its economy away from crude oil exports. This policy helps offset the impact of US sanctions.
Snail
Turkey: Overfishing Reduces Sea Snail Stock in the Black Sea by 20% (Dec 9)
It has been determined that the stock of sea snails in the Black Sea, which has been found to have increased in recent years due to exports to the Far East, has decreased by 20% this year. Researching the distribution of sea snails in 83 stations determined between İğneada and Sinop , Istanbul University Faculty of Aquatic Sciences Faculty Member Prof. Dr. Saadet Karakulak said, "We have been working in the Western Black Sea region for 3 years. If we compare the first time we went to the last voyage, there is a 20% decrease. Certain restrictions are definitely needed to ensure sustainable fishing." In the 1950s, the distribution of sea snails, an invasive species carried by ships' ballast waters, in the Black Sea was investigated. Within the scope of the World Food and Agriculture Organization (FAO) supported project of Istanbul University Faculty of Aquatic Sciences, samples were taken from 83 stations determined between İğneada and Sinop for 3 years. In the study, which also includes Bulgaria, Romania, Turkey, Georgia, and Ukraine, it was determined that the stock of sea snails in the Black Sea decreased by 20% this year.
Squid
Egypt: Fish Prices in the Transit Market (Dec 6)
Fish prices witnessed a state of stability in the transit market where squid and calamari ranged between USD 4.25-8.29 (EGP 105-205)
Tuna
Vietnam: Tuna Exports to Italy Took a Plunge (Dec 7)
According to the Vietnam Association of Seafood Exporters and Producers, after recovering in September 2022, increasing 40 times over the same period, Vietnam's tuna exports to Italy in October continued to plummet. According to statistics from Vietnam Customs, the value of tuna exports to Italy in October 2022 decreased by 88% compared to the same period in 2021, reaching USD 225K. In the first 10 months of 2022, Vietnam's tuna exports to Italy reached USD 7.6M, down 72% over the same period last year. This decline has led Italy from being the largest tuna import market of Vietnam in the EU in 2021 to 7th position in the first 10 months of 2022. Currently, there are 11 enterprises exporting tuna to Italy, of which Nha Trang Bay, Dragon Waves, and Thanh Dung Canning Co., Ltd are the 3 largest companies exporting tuna to this market, accounting for 68% of the total export value to Italy.
