W42: Seafood Update
Crab
USA: Implications of the "Disappearance" of Alaskan Snow Crab (Oct 25)
The Alaskan government canceled the Bering Sea snow crab season for 2022-2023 as a result of much lower stock, dwindled by sea warming the past years. In 2021, total landings of Alaskan Snow Crab were 20K mt worth $219M. The US exported 5.4K mt of Alaskan Snow Crab in 2021, which represents the bulk of all frozen crab exported by the US. The US is the fourth largest exporter of frozen crab globally.
Lobster
Mauritania: Mauritanian Lobster Season Set to Start in November (Oct 26)
The Pink Spiny Lobster (Palinurus mauritanicus) is a highly valued species with huge consumption in the European market. Commonly sold live or cooked and frozen, the new fishing season along the coast of Mauritania, will start in November, between the 10th and 15th.
Salmon
The Russian Federal Agency for Fisheries' statement about a possible restriction on the export of Russian salmon fish to stabilize its value in the domestic market had the opposite effect. Manufacturers increased salmon selling prices in October by 22-28%. The All-Russian Association of Fishermen (VARPE) has already opposed the ban, pointing out that exports account for no more than 10% of the catch. Restrictions on exports and price cuts may lead to fishermen holding back production in anticipation of peak demand.
After more than four years of processing, the Mixed Commission of Congress approved the bill that sanctions the escape of salmon and introduces new transparency requirements for aquaculture companies.
Chile: About 100K tons of Chilean Coho Salmon Exported to Japan Every Season (Oct 28)
Chilean Coho salmon started a new season in September and will continue until December. About 150K tons of Coho salmon are caught annually in Chile, of which 100K tons are exported to Japan per season, and the agreed-upon contracts before the season starts usually stand at 50K tons. The purchase price for Chilean Coho salmon with pre-arranged contracts stood at USD 7.5-8/kg, and the salmon exported without a pre-arranged contract was purchased at the spot price. In W43, the market price for dressed Chilean salmon in Japan stood at USD 7.46/kg (YEN 1,100).
Shrimp
Vietnam: Cultivation of Giant Freshwater Shrimp in Rice Fields (Oct 25)
The rice-shrimp production model in Vietnam is evaluated as an effective model for adapting to climate change. Currently, the whole Mekong Delta has about 162K ha of rice and shrimp production, out of which, the most are Kien Giang 62.5K ha, Ca Mau 46K ha, Bac Lieu 40K ha, Soc Trang 7.5K ha. In Hong Dan district, Bac Lieu province, many farmers are entering the harvest of giant freshwater shrimp with the joy of having a good harvest.
China: China's Frozen Shrimp Imports Up 71% So Far in 2022 (Oct 26)
China’s Jan-Sep 2022 frozen shrimp imports, at CNY 26.25 billion ($3.9 billion) are up by 70.6% YoY. Most of the YoY gains were driven by imports from Ecuador. A sharp increase in September 2022 imports was driven by higher demand before China’s autumn holidays and lower domestic production.
Mexico: Mexican Shrimp Producers Strive to Achieve the Certification to Export to the US (Oct 27)
With the aim of sustaining the 2023 annual certification of Mexican shrimp for export to the United States, a meeting was held in Sonora between authorities and leaders of the fishing industry and the industry. The meeting reiterated awareness of the proper use of Sea Turtle Excluder Devices (DET's) and Fish Excluder Devices (DEP's), during this 2022-2023 crustacean capture season.
Ecuador: CIF Prices for Ecuadorian Shrimp to South Korea in W43 (Oct 28)
South Korea remains one of the top 10 importers of Ecuadorian shrimp. From January to October 2022, South Korea imported approximately USD 58M FOB worth of Ecuadorian shrimp. In W43, CIF prices for Ecuadorian shrimp to Busan, South Korea stood at:
Size CIF Price per kg
20/30 $ 7.40
30/40 $ 6.30
40/50 $ 5.75
USA: Us Shrimp Imports Continued to Decline in August 2022 (Oct 30)
US shrimp imports in 2022 are on a downward trend after hitting a record in 2021. Shrimp supplies to the US all reduced exports to this market in August this year. Imports from 8 of the top 10 shrimp suppliers to the US all decreased, in which Vietnam dropped the most, followed by India. Only imports from Ecuador increased by 2%, and from Mexico increased by 67%.
Squid
South Korea: Government Stockpiled Pollock, Mackerel and Squid (Oct 24)
The Ministry of Oceans and Fisheries in South Korea will supply up to 4,043 tons of government-stockpiled seafood such as pollock, mackerel, and squid to traditional markets and hypermarkets from October 20 to November 16 to stabilize shopping cart prices. Consumers can purchase government stockpile seafood at a discount of up to 30% of the market price.
Octopus
Indonesia: Octopus Catch Remains High in Makassar, Indonesia in W43 (Oct 27)
The catch of octopuses (Species: Octopus Cyanea/ Octopus Vulgaris) in Makassar city, South Sulawesi, Indonesia, is high in W43. The supply available remains stable at around 5-10 tons daily. On the contrary, global demand is not growing, which pushes prices down. European buyers are still waiting for the Indonesian octopus price to drop in the coming months to make purchases. US buyers are mostly stuck with old inventory bought at higher prices months ago and may consider purchasing only large-sized octopuses like 4-6lbs and 6-8lbs, which are not the main catch in Indonesia as the main catch is the 2-4lbs sized octopus.
Tuna
Vietnam: Tuna Exports to the EU “Reversed” in the Third Quarter of 2022 (Oct 30)
Vietnamese tuna exports to the European Union reached USD 123M in the first nine months of 2022. The export value in Q3 2022 was over USD 46M, up by 47% YoY after a YoY decline in Q2 2022.
