A quarterly update based on the GLOBEFISH databank · 2018. 1. 11. · A quarterly update based on the GLOBEFISH databank 30/7/2010 Issue 3/2010 Food and Agriculture Organization

HIGHLIGHTSA quarterly update based on the GLOBEFISH databank

30/7/2010Issue 3/2010

Food and Agriculture Organization of the United NationsFisheries and Aquaculture Policy and Economics Division

Viale delle Terme di Caracalla00153 Rome, Italy

Tel.: +39 06 5705 2692Fax: +39 06 5705 5188

www.globefish.org

Shrimp prices recovered stronglyThe general economic recovery led to brisk shrimp trading in the first half of 2010. Generally demand exceeded supply, and prices

moved up sharply. Shrimp importers and traders in the main markets were unable to build up inventories, as the product moved quickly. p. 2

Sky high tuna prices impact world marketTuna catches in the Western Pacific have been very low this year. The biologists blame the decline in catches on high water temperatures and the resulting thick warm water layers which

skipjack schools try to avoid. This dispersion of the tuna schools makes fishing less efficient. p. 8

Groundfish species face strong competitionDuring all of 2009 and early 2010, groundfish prices declined as a result of good supply and strong competition

from other whitefish species, such as pangasius. Supply was very good for Alaska pollock from Russia, but also for cod from the Barents Sea, a noteworthy return for a well managed species. p.13

Better demand in cephalopods market is thwarted by low supply

The economic crisis, which impacted the world cephalopod market in 2009, seems to be declining and

demand for cephalopods is going up. However, traders are still quite cautious, and are trying to buy smaller specimens at discounted prices. p. 16

Smaller quantities of tilapia in the marketSupply of tilapia from China, the world’s main producing country will be down by 20% in 2010. This decline was primarily caused by the extremely cold winter in early

2010 in China, wiping out whole production areas. In addition, the production will enter the market two months later, as growing out was much slower in the early months of the year. p. 20

Pangasius is an important commodity in world trade

Growing exports expected from Viet Nam this year. EU imports grew 10% in first quarter but pangasius is making inroad also in new

markets such as Mexico and Brazil. p. 22

Weaker bream prices as demand is slacking Demand in the large European cities is declining as schools close for the holidays and consumers start spending

more time out-of-town. The seasonal contraction in demand is putting downward pressure on bream prices for which supplies are ample, also helped by new generation fish reaching market size. p. 24

Tight supply is driving price increases The Atlantic salmon market continues to be undersupplied as Chile’s production in 2010 is reaching rock bottom. As a

result prices are at their highest levels for many years although sluggish demand over the summer should ease prices somewhat. Higher water temperatures will also boost growth levels with additional volumes coming to market over the next few months. p. 27

Fishmeal prices already 20% lowerFishmeal prices reached a peak of USD 2 140/tonne in April 2010. This price hike was caused by several factors, including low production in Peru, disruption

in the aftermath of the Chilean earthquake leading to closure of several factories, and strong demand from China. p. 32

Fish oil important part of aquaculture feed composition, 2010 prices rising

Fish oil production is currently around 1 million tonnes per year. From this production, about 126 000 tonnes is destined for human consumption, mainly as fish oil capsules, while the use as margarine hardener has now

practically disappeared. p. 34

About GLOBEFISH

GLOBEFISH forms part of the Products, Trade and Marketing Service of the FAO Fisheries and Aquaculture Department and is part of the FISH INFOnetwork (see below). It collects information from the main market areas in developed countries. Part of its services is an electronic databank and the distribution of information through the GLOBEFISH European Fish Price Report, the GLOBEFISH Highlights, the GLOBEFISH Research Programme and the GLOBEFISH Commodity Updates.

The GLOBEFISH Highlights are based on information available in the databank, supplemented by market information from six regional services which form the FISH INFOnetwork: INFOFISH (Asia and the Pacific), INFOPESCA (Latin America and the Caribbean), INFOPECHE (Africa), INFOSAMAK (Arab countries), EUROFISH (Central and Eastern Europe) and INFOYU (China).

GLOBEFISH Highlights are distributed to the subscribers of: INFOFISH Trade News, INFOPESCA Noticias Comerciales, INFOPECHE Nouvelles Commerciales, through EUROFISH and INFOYU. GLOBEFISH Highlights are also available in electronic form.

For subscription details please contact:GLOBEFISH, FIPM/FAO Tel: (39-06) 5705 2692

Viale delle Terme di Caracalla Fax: (39-06) 5705 518800153 Rome, Italy

Email: [email protected]: www.globefish.org

All rights reserved. Reproduction and dissemination of material in this information product for educational or other non-commercial purposes are authorized without any prior written permission from the copyright holders provided the source is fully acknowledged. Reproduction of material in this information product for resale or other commercial purposes is prohibited without written permission of the copyright holders. Applications for such permission should be addressed to the Chief, Electronic Publishing Policy and Support Branch, Communication Division, FAO, Viale delle Terme di Caracalla, 00153 Rome, Italy or by e-mail to [email protected] © FAO GLOBEFISH 2010

Bibliographic reference:

GLOBEFISH Highlights

2010

FAO/GLOBEFISH Highlights

(3/2010): p. 35

A quarterly update based on the GLOBEFISH databank

1Globefish Highlights July 2010

Confronted with sluggish consumer demand and a series of supply constraints, world production of fish products is estimated to have increased marginally (by less than 1%) to 143.7 million tonnes in 2009. The dynamic aquaculture sector is expected to be responsible for all of the limited gain, despite severe setbacks incurred by the industry, including salmon diseases, which halved 2009 Atlantic salmon output in Chile. Supply from world capture fisheries, on the other hand, has stagnated, constrained by the application of fishing quotas and falling profitability. Accordingly, aquaculture is estimated to have increased its share of world fish production from 36.9% in 2008 to 37.5% in 2009. Further production inroads are expected from the sub-sector in 2010. As consumer confidence and discretionary spending improve, world demand for most fish products is slowly returning to normal. As in 2009, aggregate food consumption of fish in 2010 is expected to grow barely in line with population, keeping average per capita fish intake virtually unchanged. The economic downturns are estimated to have had a marginal negative effect on the volume of fish traded internationally in 2009, now assessed at around 52.5 million tonnes (live weight). However, the contraction was far more pronounced in value terms, in the order of 8%, to an estimated USD 94.5 billion, as prices declined and import demand shifted towards less expensive species. With the exception of Viet Nam, most exporters suffered a contraction in fish export earnings in 2009, in particular, Canada, Chile, Ecuador, India, the Russian Federation and the United States. The value of fish imports, on the other hand, was down in 2009 in the EU, Japan, Mexico, the Russian Federation and the United States. Under current prospects for a slow recovery of world demand, fish trade is expected to grow somewhat to 52.8 million

GLOBAL FISH ECONOMYtonnes in 2010, while, in value terms, it may bounce back by 7% and again surpass the USD 100 billion mark, albeit remaining short of the record achieved in 2008. Based on the FAO Fish Price Index, prices weakened in late 2008 and early 2009, reaching their lows in March 2009. However, some increases in prices have taken place in recent months, for instance for shrimp, tuna and salmon. The fisheries sector remains heterogeneous with quite diverse price patterns for different species and origins, despite the high degree of substitution in processed products. A strengthening of prices of some aquaculture products, such as shrimp in early 2010 mostly reflected shrinking supplies, as producers adjusted to weak demand in 2008 and 2009 by cutting production. In the case of Atlantic salmon, disease problems have constrained supply, also leading to price rises.

World fish markets at a glance2008 2009 2010 Change

estim. f’cast 2010over 2009

million tonnes %WORLD BALANCEProduction 142.3 143.7 145.3 1.1 Capture fisheries 89.7 89.7 89.6 -0.1

Aquaculture 52.5 54.0 55.7 3.1

Trade value (exports USD billion) 102.2 94.5 101.0 6.9

Trade volume (live weight) 52.9 52.5 52.8 0.6

Total utilization Food 115.1 116.5 118.3 1.6

Feed 20.8 20.6 20.2 -1.9

Other uses 6.4 6.6 6.8 3.0

SUPPLY AND DEMAND INDICATORSPer caput food consumption

Food fish (kg/year) 17.1 17.1 17.1 0.4

From capture fisheries (kg/year) 9.3 9.1 9.1 -1.0

From aquaculture (kg/year) 7.8 7.9 8.1 1.9

Totals may not match due to rounding.

2 Globefish Highlights July 2010

Shrimp prices recovered strongly

The general economic recovery led to brisk shrimp trading in the first half of 2010. Generally demand exceeded supply, and prices moved up sharply. Shrimp importers and traders in the main markets were unable to build up inventories, as the product moved quickly. All main markets reported increased imports in the first quarter of 2010. The weakening of the EUR impacted the world shrimp market in the second quarter, and more shrimp was aimed at the US and the Japanese market instead. The Gulf of Mexico oil spill resulted in very low US shrimp production, leading to more demand for imported shrimp. The news on lower supplies from Viet Nam, Indonesia and Bangladesh also made prices move upwards. Prices are likely to increase to some extent in the coming months to stabilize at a high level during the last part of the year.

SHRIMP

Supply situation continues tight

Some major cultured shrimp producers reported declining production in 2010, following the negative trend experienced in 2009. Viet Nam, Bangladesh and Indonesia will again have lower outputs. The cold winter delayed Chinese shrimp farming significantly in the opening months of 2010. In the overall climate of low aquaculture production, Thailand seems to be the only main player with a good production outlook. This country will thus be able to expand its dominant position in the US market and become the main supplier also to the Japanese market.

Viet Nam reported lower shrimp production in 2010. Strong offer prices from packers in the Mekong Delta indicate persistently reduced supply of black tiger shrimp in that country. Vannamei farms in central provinces and black tiger shrimp farms in southern provinces were hit

Wholesale pricesShrimp*: Japan

Source: INFOFISH Trade News; GLOBEFISH AN 10226* Black tiger, headless, shell-on, origin: Indonesia

by the extremely hot weather (38° C), which has affected growth rates and caused disease problems.

Bangladesh will probably produce less shrimp in 2010 then in 2009, as supply shortage for black tiger shrimp is reported. Farms in several areas are affected by mass mortality of shrimp linked with inadequate pond preparation prior to pond stocking.

Indonesia’s vannamei farming sector is yet to recover fully from the disease crisis experienced in 2009; hence supplies remain low from this source. Supplies of black tiger shrimp are also lower than expected keeping raw material prices high in the place of origin.

Shrimp farms in Honduras were seriously affected by a tropical storm and subsequent heavy rains. The crop losses are estimated to have exceeded USD 1.5 million. Serious damage to roads is affecting access to the farms. Low salinity of the water, caused by heavy rainfall is another cause for concern for future crops. In Peru shrimp supply is estimated to be 15% lower than in 2009 as many farmers did not stock their ponds because of low prices last year.

Japanese demand for shrimp is strong

This year, supermarkets in Japan were the major buyers of head-on black tiger shrimp during Spring sales. Demand was basically focused on two sizes: 30 and 35 pieces/kg. Japanese consumers preferred to eat at home rather than expensive dining out, thus restaurant demand was very limited.

Imports during January-March 2010 increased by 1.7% compared with the corresponding period of last year. Figures obtained from the total Custom’s cleared quantity showed that the share of prepared and processed shrimp dropped to 25.4% from 26.5% in 2009, although imports

5

7

9

11

13

15

17

Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10

USD/kg

31/40

16/20


of “sushi shrimp on rice”, mostly supplied by Thailand, surged significantly.

With a 68% market share, Thailand, Viet Nam, Indonesia and China were the top shrimp suppliers to the Japanese market. Compared with the same period in last year, overall supply from Thailand also increased significantly to 17 600 tonnes (+31.5%) followed by Viet Nam at 9 900 tonnes (+7.4%). Imports from Indonesia and China fell.

The inventory situation in Japan was very tight for large sized shrimp in the second quarter of the year. The strong yen also supported the market. Import prices softened temporarily in April but firmed up from May onwards following the oil spill incident in the USA. Prices increased by USD 0.60/kg in June for all origins. US shrimp prices soar due to oil spill

The Gulf of Mexico oil spill problem is overshadowing the US shrimp market. In normal years, US domestic shrimp production is relatively limited with regard to total US shrimp consumption, contributing about 10% of total supply. The area affected by the oil spill represents some 6% of total US shrimp consumption. However, domestic US shrimp production normally influences the price level in summer months, the main production period for US shrimp from the Gulf of Mexico. As a result of the oil spill, important fishing areas for shrimp have been closed, which means longer fishing trips for shrimp trawlers to reach areas where shrimp catching is permitted. Production will probably decline sharply. As a result, traders are very cautious with existing inventories.

In addition to lower domestic production, imports are also lower than in 2009. As a result of limited supply, prices are going up very quickly, as shown in the graph. Black tiger shrimp reported USD 1.10/lb higher prices in just two weeks in June 2010. These price hikes are based on limited supply and fear of the impact of the oil spill, rather than actual consumer demand. The

Wholesale pricesShrimp*: USA, Japan

Source: INFOFISH Trade News; GLOBEFISH AN 10205, 10206* Frozen, headless, shell-on, 16-20 count

ImportsShrimp: USA

.................................Jan-Mar..................................2005 2006 2007 2008 2009 2010

(1 000 tonnes)Thailand 31.6 34.1 39.7 35.0 36.3 39.1

Indonesia 12.8 17.1 12.5 20.7 20.6 14.6

Ecuador 12.0 15.9 17.2 15.7 16.1 14.8

China 9.9 12.8 17.7 12.9 7.4 9.7

Viet Nam 10.5 8.3 5.9 8.6 6.6 6.3

Malaysia 2.9 4.4 4.6 7.1 2.9 4.8

Mexico 4.9 4.9 6.9 6.5 8.0 8.2

India 8.0 7.3 4.1 2.9 4.6 3.6

Bangladesh 2.0 3.4 3.1 2.8 2.6 1.2

Guyana 2.0 2.4 2.6 2.5 2.4 1.9

Venezuela 3.9 2.6 3.0 2.1 0.9 0.4

Peru 1.0 1.1 1.5 1.7 2.6 2.0

Others 10.8 10.3 7.3 5.3 5.1 4.3

Total 112.4 124.6 126.2 123.8 116.1 110.9Source: NMFS

3

4

5

6

7

8


USD/lb

Gulf brown, New York

Indian white, Tokyo

SHRIMP

ImportsShrimp (frozen raw): Japan

......Jan-Dec........ ................Jan-Mar............2008 2009 2007 2008 2009 2010(1000 tonnes) (1000 tonnes)

Thailand 24.9 32.1 4.1 4.4 5.5 9.0

Indonesia 37.4 34.8 8.1 8.3 8.5 7.5

Viet Nam 42.2 39.9 5.3 7.2 6.1 7.3

India 24.0 24.3 4.8 5.0 4.7 4.7

China 16.8 14.9 4.8 3.9 2.7 3.2

Russia 7.8 7.1 2.3 2.6 2.2 1.8

Malaysia 4.5 5.1 0.7 0.9 1.1 1.4

Canada 7.7 7.2 1.6 1.2 1.6 1.2

Myanmar 6.8 6.7 1.3 1.6 1.6 1.0

Greenland 5.6 6.5 1.1 0.9 2.3 0.9

Argentina 2.6 3.6 0.3 0.2 0.4 0.8

Bangladesh 3.1 2.4 0.6 0.8 0.8 0.7

Philippines 3.5 4.0 0.8 0.6 0.7 0.6

Others 9.7 9.0 3.0 2.1 2.1 1.2

Total 196.6 197.6 38.8 39.7 40.3 41.3Source: GLOBEFISH AN 10127


US stock market is quite weak at the moment and the unemployment rate is increasing, resulting in overall poor consumer confidence.

US shrimp imports declined by 4% in the first quarter of 2010, mainly owing to limited production in the main supplying countries, as mentioned above. Thus Thailand managed to expand its exports to the US market by 7%, now representing 35% of total US shrimp imports. In contrast, Indonesian shrimp exports declined by 30% as a result of the disease problems experienced in this country.

Growth in all European markets

All EU markets reported strong trade in the first half of 2010, with imports increasing in all main markets. The economic crisis seems to be declining, and all indicators show an improved shrimp trade, both for supermarkets and restaurant sales. In the last two months, however, the decline in the value of the EUR has slowed the overall positive development. Price hikes have dominated the market, and some consumer resistance is expected to materialize.

Spain continues to be the main importer of shrimp in the EU. Despite the economic crisis last year, imports

were strong and continued to increase during the first half of 2010 by 10%. Main suppliers to the Spanish market continued to be China and Argentina, while Thailand is increasing supply to this market, from a mere 200 tonnes to 1 200 tonnes. Further increases in shrimp imports are likely, even though prices are expected to go up further. Spanish traders of shrimp source the comodity worldwide, and are able to change quickly from one supplier to another. Prices offered by Spanish traders are generally competitive, making this country a good market for all shrimp producers world-wide. It is surprising, however, that coldwater shrimp is not playing any important role in this market.

ImportsShrimp: Spain

..............................Jan-Mar..............................2005 2006 2007 2008 2009 2010

(1 000 tonnes)China 4.3 6.9 7.8 6.6 4.7 4.8

Argentina 0.8 1.1 3.8 1.6 2.7 3.4

Ecuador 1.5 3.3 4.5 4.2 3.0 3.3

Colombia 1.2 1.0 1.2 1.1 0.9 1.2

Thailand 0.0 0.2 0.1 0.3 0.2 1.2

Morocco 2.0 1.5 1.6 1.7 1.5 1.1

Belgium 0.7 0.6 1.0 0.8 0.8 0.9

Nicaragua 0.5 1.0 1.0 0.7 1.2 0.8

Netherlands 1.1 1.0 1.1 0.7 0.7 0.7

Others 12.1 13.1 12.2 8.3 6.3 7.0


ImportsShrimp: Germany

....Jan-Dec..... ..............Jan-Mar............2008 2009 2007 2008 2009 2010(1 000 tonnes) (1 000 tonnes)

Thailand 9.3 11.5 1.3 2.0 2.2 3.1

Viet Nam 8.1 9.8 1.0 1.5 1.9 1.6

Netherlands 3.9 4.2 1.7 1.3 0.7 1.4

India 5.7 5.5 1.8 1.3 1.5 1.4

Bangladesh 3.5 6.5 0.4 0.6 1.3 1.2

Belgium 2.0 3.5 0.7 0.7 0.5 1.0

UK 1.6 2.1 0.8 0.5 0.6 0.7

Denmark 2.7 2.3 0.3 0.8 0.6 0.6

Others 11.6 11.4 2.7 2.2 2.2 2.4


ImportsShrimp: USA

Product2009 2010

tonnes 1000 USD tonnes 1000 USDPeeled frozen 37 285 261 795 36 448 270 075

Other frozen 21 497 160 202 20 424 151 283

Breaded 7 791 42 508 10 282 56 405

Other preparations 302 1 446 402 1 614

Headless shell-on frozen

All sizes 46 517 315 543 40 921 272 739

< 15 4 651 53 035 4 015 46 661

15/20 3 793 34 600 3 147 27 991

21/25 6 311 50 738 5 508 41 591

26/30 7 015 46 307 5 691 39 203

31/40 9 807 58 651 7 306 42 617

41/50 5 698 29 341 5 057 25 971

51/60 4 806 23 352 5 046 24 925

61/70 2 375 10 779 3 014 15 128

> 70 2 059 8 740 2 136 8 652

Other products 2 751 21 740 2 424 16 690

Total 116142 803234 110900 768806Source: NMFS

SHRIMP


UK shrimp imports grew by 5% in 2009, with the cooked and peeled sector (C&P) being mainly responsible for the increase. In the first quarter of 2010, generally an off season for shrimp trade, UK shrimp imports grew further by a significant 10%. In the C&P tropical sector suppliers increased their presence, while the traditional coldwater shrimp suppliers lost ground.

The product split in UK imports seems to be in the process of changing, as processed shrimp (mainly C&P) now accounts for more than 52% of total imports, a trend which is continuing. Tropical shrimp is now entering the UK market in C&P form, a development which has mainly favoured Thai exporters.

With regard to price developments during 2009, it is significant that the value of C&P products went up, after years of continuous decline. It is also important to note that Thailand’s unit value of C&P shrimp is GBP 5.20/

ImportsShrimp: UK

....Jan-Dec..... ..............Jan-Mar..............2008 2009 2007 2008 2009 2010

Shell-on ColdwaterDenmark 2.2 2.2 0.6 0.6 0.6 0.6

Others 1.9 1.9 0.3 0.3 0.2 0.3

Total 4.1 4.1 0.9 0.9 0.8 0.9Shell-on Warmwater India 7.6 7.6 2.7 1.6 1.5 1.7

Indonesia 5.9 4.2 1.1 1.6 1.4 1.2

Thailand 4.8 5.4 0.5 1.1 0.8 0.9

Bangladesh 4.6 6.1 1.0 1.1 1.2 0.9

Viet Nam 2.4 3.4 0.1 0.4 0.4 0.6

Honduras 1.7 1.6 0.2 0.2 0.3 0.4

Ecuador 2.0 2.5 0.7 0.7 0.4 0.3

Denmark 1.1 0.9 0.2 0.2 0.4 0.3

Others 5.4 4.8 1.1 1.2 0.8 0.8

Total 35.5 36.5 7.6 8.1 7.2 7.1Cooked & PeeledIceland 13.4 12.3 2.0 1.9 1.8 2.1

Denmark 6.3 6.7 1.4 1.3 1.4 1.5

Thailand 4.9 7.7 0.7 0.6 1.2 1.5

Indonesia 2.8 3.3 0.7 0.5 0.7 0.8

Canada 2.6 3.5 0.3 0.2 0.3 0.6

Others 10.6 10.8 2.0 2.4 1.7 2.2

Total 40.6 44.3 7.1 6.9 7.1 8.7Gr. Total 80.2 84.9 15.6 15.9 15.1 16.7Source: GLOBEFISH AN 010141

ImportsShrimp: France

..............................Jan-Mar..............................2005 2006 2007 2008 2009 2010

(1 000 tonnes)Ecuador 1.4 2.3 2.9 4.7 3.7 5.2

India 1.2 1.9 2.0 2.1 3.0 3.1

Thailand 0.5 0.5 1.0 0.8 1.1 1.7

Colombia 0.7 0.7 1.1 1.8 1.5 1.5

Madagascar 1.6 1.3 1.3 1.9 1.2 1.4

Netherlands 2.2 1.4 1.4 1.5 1.4 1.2

Bangladesh 0.2 0.1 0.1 0.8 0.6 1.2

Spain na na 0.5 0.3 0.7 1.1

Vietnam 0.7 0.7 0.9 0.8 0.8 1.1

Belgium 1.0 1.3 1.1 1.1 0.7 0.9

Brazil 5.1 3.2 3.3 1.9 1.3 0.8

Indonesia 1.2 1.6 0.8 0.9 0.7 0.8

Others 4.9 4.7 4.9 4.9 4.3 3.8

Total 20.6 19.8 21.4 23.5 21.0 23.8Source: GLOBEFISH

ImportsShrimp: Italy

...........................Jan-Mar.........................2005 2006 2007 2008 2009 2010

(1 000 tonnes)Ecuador 3.4 3.5 4.5 3.9 3.9 5.0

India 1.0 1.0 1.0 1.4 0.9 1.3

Argentina 0.2 0.4 0.7 0.5 0.8 1.1

Spain 0.6 0.8 1.2 1.0 1.0 1.0

Denmark 1.4 1.5 1.6 1.3 0.8 1.0

Netherlands 0.6 0.8 0.8 0.6 0.6 0.9

France 0.7 0.8 0.6 0.5 0.5 0.6

Viet Nam 0.4 0.4 0.2 0.4 0.3 0.6

Thailand 0.2 0.2 0.2 0.3 0.5 0.5

Others 4.2 4.0 4.5 3.0 2.3 2.2


kg, or GBP 0.70-1.00/kg higher than coldwater shrimp prices. This shows that there is a margin for higher prices for the Pandalus borealis product as well. However, the exchange rate of the British currency in 2009 was, on average, lower than in 2008.

The German shrimp market grew substantially in 2009. Total imports reached a record high of 56 700 tonnes in 2009, 8 400 tonnes more than in 2008. The

SHRIMP


increase in shrimp imports by Germany is not surprising as the big supermarket chains are all now offering shrimp products, and the discount chains have also recently included shrimp in their product range. The upward trend continued in the first quarter of 2010, when imports increased by 17%.

ExportsShrimp: Denmark

2004 2005 2006 2007 2008 2009(1 000 tonnes)

Russia 27.4 28.7 27.3 38.0 30.3 19.8

Sweden 15.0 15.0 18.5 19.3 18.6 19.0

China 10.6 14.4 18.3 9.5 10.9 14.2

UK 11.8 12.6 14.8 14.4 12.8 13.2

Norway 8.5 9.4 7.2 9.0 8.5 8.2

Germany 6.6 6.7 7.4 8.7 8.6 7.5

Italy 6.9 8.4 9.6 9.0 8.7 5.8

Netherlands 6.5 9.0 7.5 7.8 6.6 5.0

Others 28.2 33.8 33.8 30.3 30.9 27.4


ImportsShrimp: Denmark

.......................Jan-Mar.......................2005 2006 2007 2008 2009 2010

(1 000 tonnes)Greenland 15.3 18.3 12.1 11.9 14.6 13.9

Canada 8.4 7.6 10.1 7.5 4.4 3.4

UK 0.6 0.7 1.0 0.4 0.5 1.0

Faroe Isl. 0.8 0.8 0.1 0.8 1.0 0.8

Thailand 0.0 0.1 0.2 0.3 0.2 0.5

Others 5.1 4.2 5.3 4.4 2.0 3.0


Shrimp Volume Imported by EU-27, USA and Japan - January-March (in tonnes)

Thailand is the main supplier to the German market with 11 500 tonnes in 2009, followed by Viet Nam with 9 800 tonnes. Both countries expanded their exports considerably. Bangladesh managed to almost double its exports during 2009 to reach 6 500 tonnes. This country is exporting more value added frozen shrimp products such as easy peel shrimp and with sauces added to their shrimp products.

USA USA USA USA USA USA

EU 25 (extra)EU 25 (extra) EU 25 (extra) EU 25 (extra)

EU 25 (extra) EU 25 (extra)

EU 25 (intra)EU 25 (intra) EU 25 (intra)

EU 25 (intra) EU 25 (intra)

JAPANJAPAN

JAPANJAPAN

JAPAN JAPANEU 25 (intra)

50 000

100 000

150 000

200 000

250 000

300 000

350 000

2005 2006 2007 2008 2009 2010

Tonnes

Comparison to 2009 in %

-5%

322 705 335 054 348 322 332 435 317 584 313 651

+2%

0%

SHRIMP


French shrimp imports were stable during the past 7 years at between 101 000 to 108 000 tonnes. Frozen shimp are by far the main form of imports and in this category, frozen warmwater shrimp are most popular. The supply comes from Latin America (Ecuador is the main supplier of shrimp to the French market), India (strong growth in 2009) and Madagascar (some decline last year). The French market pays a premium for high quality shrimp, for example Madagascan shrimp is priced at EUR 8.28/kg, while the Indian shrimp price is around EUR 4.69/kg. Overall, the unit value of shrimp imports by France declined from EUR 5.09/kg in 2008 to EUR 4.84/kg in 2009. During the present year, however, prices have started to move up quite substantially.

Further price increases likely

In June, the appreciation of the yen helped Japanese importers to conclude some solid deals even at higher prices. Price increases in the international market, however, are not positive for Japanese traders as they are afraid to pass on the higher price to end consumers. Under the tight supply situation, Japanese importers are not in a position to dictate market prices either. Therefore, depending on the strength of the yen, sporadic import deals are expected to replenish stocks, at least for summer holiday sales.

Shrimp production by main species

Penaeus vannamei38%

Giant tiger praw n17%

Akiami paste shrimp10%

Northern praw n7%

Others28%

The US shrimp market, which for such a long time had been driven by buyers’ interest, has now become a “sellers’ market”. Larger sizes of shrimp are in very short supply, with prices reaching the highest levels in two years. Importers and sellers of domestic shrimp, holding larger sizes, are expecting a further rise in price.

Countries of the EUR zone will have problems to stay competitive in the world market, in view of the declining value of the EUR with regard to the USD and the yen. The impact might be strongest in the Spanish market, where the economic crisis is declining, but unemployment levels are extremely high now, and shrimp consumption is likely to be impacted. In addition, fewer tourists going to the Spanish resorts will result in lower demand for shrimp products.

On the other hand, the outlook for the UK shrimp market is quite positive this year. Higher prices are likely, and have materialized already during the opening months of 2010. The EUR crisis led to a stronger GBP, which should attract some additional supply, at least from Asian production. The promotion of coldwater shrimp products, tailored to meet customer demand, should encourage continued momentum in this important market.

Source: FAO

SHRIMP


Sky high tuna prices impact world market

Tuna catches in the Western Pacific have been very low this year. The biologists blame the decline in catches on high water temperatures and the resulting thick warm water layers which skipjack schools try to avoid. This dispersion of the tuna schools makes fishing less efficient. In addition, fuel prices are going up again and, as in 2008, tuna operators are fishing less frequently. Prices are up in all markets and for all tuna species. Some consumer resistance is expected, once the raw material price hikes are passed on to retailers.

TUNA

Tuna catches very low in second quarter

Slow catches, rising raw material prices and reluctance from canned tuna buyers characterize the market both in Europe and globally. The 30% jump in the Bangkok skipjack market price during May 2010 was followed by another substantial increase in June. Skipjack 1.8-2.5 kg now sells for at least USD 1 700/tonne in Thailand, up from USD 1 500/tonne in May. Inventories of raw material declined in Bangkok as canneries were either unwilling or unable to replace them with new stock.

Canneries are reducing daily production volumes in reaction to a decline in orders from the market. The three month closure of the FAD fishery in the Western and Central Pacific commencing 1 July has added to expectations that catches will not improve. Slow landings also impacted the price of tuna in Latin America where the price increased to USD 1 700/tonne and is expected to continue going up to a level high enough to compete with Thailand. Tuna transhipped in the Western and Central Pacific to reefer carriers is shipped to Latin American only when the South American buyers are willing to pay for the additional freight expense associated with delivering to that market.

Golden Week (early May) is the longest holiday period for the working class in Japan and many workers have taken time off for a longer vacation. This period of the year sets the tone for tuna trading. This year fewer Japanese travelled overseas with more internal flights reported. The impact of this on the sashimi market is noteworthy. More Japanese went to restaurants during Golden week, and sashimi sales were brisk, generally at much higher prices. As usual, demand for sashimi declined sharply soon after the holiday period. Summer months are low consumption periods, as the hot weather makes the tuna spoil quickly.

C&F PricesFrozen Skipjack: Thailand and Africa

Source: GLOBEFISH AN 11112

4.5-7 lbs:

0

500

1000

1500

2000

2500

mar-03 mar-04 mar-05 mar-06 mar-07 mar-08 mar-09 mar-10

USD/tonne

Thailand

Africa

ImportsFrozen tuna: Japan

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Yellowfin 58.7 47.4 44.1 12.1 13.0 12.9

Bigeye 86.8 77.8 77.1 20.8 17.8 20.0

Skipjack 31.3 33.5 53.3 7.0 14.7 20.5

S. bluefin 8.4 7.4 6.9 0.3 0.6 0.6

Albacore 6.0 8.0 8.5 0.6 1.5 4.2

N. Bluefin 6.3 4.2 4 3.4 1.9 0.7

Total 197.5 178.3 193.9 44.2 49.5 58.9Source: INFOFISH

However, unlike the previous years the market

showed some positive trends in June. Improved demand and prices were observed for bluefin and yellowfin, which could be linked to poor catches of summer skipjack from Japanese domestic waters. Unlike previous years, supermarkets are less active in the promotion of skipjack owing to high prices; they are focusing more on redmeat quality tuna, the quality of which is not as good as last year.

Another interesting trend is influencing the Japanese tuna market. Japanese consumers, with lower food budgets, are preparing more food at home


rather than purchasing ready-prepared take-away meals. Thus the cheaper skipjack ‘tataki’ (skin-roasted skipjack) is enjoying better household demand compared with yellowfin and bigeye tuna. Sales of ‘tataki’ in supermarkets increased during spring 2010. Reportedly, per capita consumption of skipjack is increasing in Japan whereas it is going down for other tuna species.

canned tuna prices in the opening months of 2010. Traders were replenishing their inventories, as higher tuna prices were already forecast during the first quarter of the year. Higher exports from Thailand

TUNA

ImportsFresh/chilled tuna: Japan

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Yellowfin 16.9 15.5 15.5 4.2 4.0 3.7

Bigeye 14.5 15.0 15.2 3.9 4.0 3.3

Bluefin 5.1 4.4 5.8 1.2 1.9 1.5

S. bluefin 1.2 1.2 3.4 0.0 0.0 0.1

Albacore 0.3 0.3 0.3 0.0 0.0 0.0

Skipjack 0.1 0.0 0.0 0.0 0.0 0.0

Total 38.1 36.3 40.2 9.2 9.9 8.6Source: National Statistics

The strong demand for skipjack is also reflected in Japanese import statistics. In fact skipjack imports increased by a 40% in the first quarter of 2010, compared with the same period of 2009. As a result, fresh and frozen tuna imports were 5% higher.

ImportsTuna pouches: USA

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Thailand 16.5 19.3 16.5 6.1 6.4 7.2

Ecuador 10.8 13.5 11.0 4.0 2.5 2.9

Others 3.8 5.9 3.6 1.5 1.3 2.1

Total 31.1 38.7 31.1 11.7 10.2 12.2Source: NFMS: GLOBEFISH AN 11038

US market well covered

The US market for canned tuna was very strong in the first quarter of the year, with imports increasing by 34% to reach more than 50 000 tonnes. Thailand was the main supplier, with more than 60% of the market. These huge imports are in part explained by the low tariffs at the beginning of the year, but also by the relatively low

During the first quarter of 2010, Thai canned tuna exports grew significantly driven mainly by increasing sales to the US and Middle Eastern markets. Compared with the same period of the previous year, exports went up 25% in quantity and 7.8% in value. The Thai canners thus took advantage of the lower raw material prices at the beginning of the year to reopen previously lost markets in the Near East, selling at highly discounted prices there. Meanwhile, Thai Union Frozen Products (TUF), the country’s largest tuna producer and exporter, reported a 27% increase in its net profits during the first quarter of this year.

ExportsCanned tuna: Thailand

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)USA 87.7 94.9 112.7 20.9 21.4 27.4

Egypt 25.1 34.6 39.8 9.9 4.8 12.6

Australia 33.3 39.7 32.4 9.3 7.7 11.0

Canada 26.4 28.1 30.8 7.2 7.3 7.8

Libya 28.8 33.8 33.7 7.3 5.9 7.1

S. Arabia 21.2 19.6 17.0 3.6 2.4 5.1

Japan 25.7 28.3 24.3 7.0 5.7 4.9

UK 13.4 15.8 17.0 3.5 4.6 2.9

S. Africa 9.8 8.4 9.8 3.0 3.3 2.4

Germany 11.7 6.4 3.6 2.1 0.9 1.5

Others 184.5 196.5 164.3 48.7 41.9 48.5


Challenges for European tuna canners

European canners face severe problems in 2010. Apart from high labour costs, which are a permanent challenge for European tuna canners, the lower value of the EUR led to over-priced tuna raw material. The price of skipjack in the Seychelles increased to EUR 1 150/tonne with Indian Ocean tuna processors having to raise prices to prevent fish from being shipped out to the Bangkok market. The decreasing value of the EUR coupled with limited supply resulted in an increase in the value of yellowfin to EUR 1 800/tonne CIF Italy. Meanwhile, more


regulation has created two different market prices in Bangkok for yellowfin 10 kg/up. Sellers able to provide properly endorsed catch documentation for fish caught by fishing boats with EU sanitary numbers and IUU certificates were able to sell yellowfin 10 kg/up for USD 350/tonne higher than the same fish without a valid catch certificate and an EU sanitary number. Some Thai canners are not even giving quotes on enquiries from European buyers, as fish having both a valid catch certificate and an EU health certificate are in very short supply.

TUNA

ImportsCanned tuna (excl. pouches): USA

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Thailand 66.1 64.7 78.8 17.7 19.1 32.3

Philippines 26.6 25.9 25.1 9.9 8.6 6.5

Indonesia 14.1 13.5 13.1 5.5 4.3 4.3

Ecuador 1.9 0.7 1.6 0.4 0.6 0.4

Others 25.3 27.8 23.4 10.6 6.7 9.2


ImportsFresh Tuna : USA

............Jan-Dec............ ............Jan-Mar............2007 2008 2008 2009 2010

(1 000 tonnes)Albacore 0.9 0.7 0.7 0.1 0.2 0.1

Yellowfin 18.0 15.9 14.2 4.2 3.5 3.5

Bigeye 5.6 5.5 5.5 1.5 1.3 1.4

Bluefin 1.1 0.4 0.4 0.1 0.1 0.1

Skipjack 0.0 0.0 0.0 0.0 0.0 0.0

Others 0.1 0.2 0.0 0.1 0.0 0.0

Total 25.7 22.7 20.8 6.0 5.1 5.1Source: ITN

ImportsTuna loins: USA

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Thailand 7.8 14.9 10.1 3.3 2.1 5.5

Fiji 11.0 10.7 12.7 2.5 2.6 2.7

Trin & Tob 10.5 9.7 9.4 2.5 2.3 2.0

Ecuador 1.2 0.9 0.1 0.1 0.0 0.0

Others 13.3 9.0 16.4 2.6 2.8 4.9


sellers are demanding pricing in USD to minimize foreign exchange risks. Following the increase in the cost of raw material, prices for cooked loins increased in Europe.

The IUU regulations have had an impact on the European market, further reducing the competitiveness of European canners. A good example to illustrate this is the Bangkok market. The EU’s catch documentation

ImportsCanned tuna: France

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Spain 19.9 14.2 18.2 3.7 3.7 3.9

C. d’Ivoire 27.0 22.0 19.8 7.7 6.8 3.0

Seychelles 13.6 11.7 12.8 2.4 1.7 2.4

Madagascar 10.9 5.6 8.2 2.6 3.1 1.3

Senegal 1.7 0.9 1.8 0.3 0.4 0.2

Italy 3.5 2.3 0.3 0.9 0.1 0.0

Others 29.7 44.2 40.4 6.2 8.9 8.9


French canned tuna imports declined in the first quarter of the year. This was mainly because of a 50% drop in shipments from Côte d’Ivoire. This country is normally the top supplier to the French market, but this year is only the number two supplier. Some Ivorian plants closed temporarily in 2010, as a result of limited and expensive raw material supply.

ImportsCanned tuna: Germany

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Philippines 24.1 18.5 19.9 2.6 5.2 4.7

Ecuador 21.2 28.6 14.5 4.6 4.0 2.0

Papua NG 5.7 6.1 6.8 0.4 1.2 2.0

Indonesia 8.1 6.8 8.2 1.6 1.8 1.7

Seychelles 2.1 4.4 1.2 1.0 0.0 1.7

Thailand 11.9 8.2 4.3 1.4 1.2 1.6

France 1.1 0.9 0.8 0.2 0.0 0.0

Others 10.9 7.0 11.9 1.6 2.8 3.1



TUNA

German canned tuna traders, always very attentive to the price situation, expanded their imports in the first quarter of 2010, when prices were still quite low. It is interesting to watch the strong performance of Papua New Guinea in this market. Total German imports of canned tuna from this country in the first three months of 2010 were 2 000 tonnes, a 66% increase over the same period of 2009. There is considerable unease among EU canners at the decision to grant zero duty to canned tuna from PNG, even if the raw material suppliers are not from EU or ACP countries. However, this decision has resulted in heavy investment in new canneries in the island state, mainly with Filipino capital.

Further price increases likely

High raw material costs have already resulted in higher canned tuna prices on the market, but it is not

known whether the consumer will accept this price hike or not, as the economic recovery is not guaranteed. However, even today demand for canned tuna is higher than the amount that is available, so tuna prices are still likely to have some room for increase.

It is likely that the present high prices, if they persist, could largely affect canned tuna consumption around the globe. Already, canned tuna prices are higher than in 2009, though not yet back to the record 2008

level. Further increase in raw material prices will result in additional price hikes for canned tuna products, and the market seems to be unwilling to accept this. There are many substitute products available at relatively competitive prices. One way to alleviate this situation is to develop and introduce new value-added products, where expensive tuna is mixed with other raw material of lower cost. Alternatively, higher value products, such as tuna fillets in glass jars could be promoted. These usually sell at three times the price of normal canned tuna.

ImportsCanned tuna: UK

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Mauritius 27.8 27.2 22.9 5.6 3.2 5.7

Ghana 18.4 22.7 19.3 6.6 4.6 4.6

Philippines 13.0 19.2 16.4 4.1 3.3 4.4

Thailand 14.9 14.6 16.8 3.3 3.8 2.7

Seychelles 23.9 16.7 19.7 3.2 5.0 2.1

Ecuador 7.8 18.9 7.4 2.5 1.0 1.2

France 3.0 4.0 2.7 0.9 0.5 0.7

Maldives 2.2 1.0 1.0 0.4 0.3 0.4

Indonesia 1.7 1.4 0.7 0.4 0.2 0.3

Others 17.8 18.3 9.2 2.5 2.0 1.5


ImportsCanned tuna: Italy

...........Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Spain 39.7 39.6 37.9 9.2 8.1 9.1

Colombia 6.6 10.5 8.9 2.0 1.4 2.8

Seychelles 3.9 5.5 6.4 1.4 1.5 1.3

Cote d’Ivoire 10.0 9.1 10.7 1.8 2.8 1.2

Portugal 2.4 2.1 1.8 0.5 0.4 0.3

France 5.3 5.0 4.9 1.3 1.6 0.1

Others 9.0 12.0 12.8 2.5 2.9 3.6


ImportsTuna loins: Italy

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Thailand 4.4 2.3 8.7 2.2 6.7 4.7

Ecuador 11.9 11.7 13.2 3.2 1.7 2.7

Colombia 7.0 5.4 2.0 2.0 0.0 0.0

Kenya 7.9 4.8 1.5 1.8 0.0 0.0

Others 8.0 12.6 11.7 2.7 2.8 2.5


Coldstorage holdingsTuna: Japan

Source: INFOFISH Trade News, GLOBEFISH AN 015000

Yellowfin

Bigeye

Albacore

Skipjack

Others

0

20

40

60

80

100

120

2002 2003 2004 2005 2006 2007 2008 2009

1000 tonnes


C&F pricesLoins: Italy

Source: GLOBEFISH AN 11114

C&F pricesCanned tuna*: USA, EUROPE

* 48x6.5 oz Europe, 48x6 oz USA, chunk, origin Thailand Source: GLOBEFISH AN 11101, 11102

C&F pricesFrozen Yellowfin, Italy

Source: EPR

TUNA NEWS

SPAIN: MORE INSPECTIONS, MONITORING FOR BLUEFIN TUNAThe Ministry of Environment, Rural and Marine Affairs (MARM) put at the disposal of the Community Fisheries Control Agency a large number of inspection and monitoring resources for 2010’s bluefin tuna season. Within the framework of the EU’s Tuna Joint Deploy-ment Plan for the recovery of bluefin tuna in the Eastern Atlantic and the Mediterranean Sea, and following the stipulations of the Interna-tional Commission for the Conservation of Atlantic Tunas (ICCAT), Spain will furnish fishing inspectors, inspection aid and observers. The legislation in force sets forth the monitoring and inspection of 100% of the bluefin tuna landings in Spanish ports authorised for such activity. In order to fulfil this objective, 68 days of monitoring in Spanish territorial waters, 28 days of aerial surveillance and 17 inland campaigns will be carried out in 2010. The agreement implies that all Community countries will have to supervise and obligatorily certify “all the steps” of the productive chain of the resource, that is, from catch and placement in cages to landing or commercialisation.According to the new agreement, the corresponding authori-ties will have to issue an accreditation of bluefin tuna transfers, to prevent illegal practises and confusion in overseas shipments. Source: fis.com

TUNA

ImportsTuna loins: Spain

............Jan-Dec............ ............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Ecuador 13.2 22.4 28.7 5.1 6.4 8.2

Thailand 2.9 3.5 6.6 3.5 6.2 4.6

El Salvador 14.8 12.4 13.1 4.0 5.9 2.4

Guatemala 0.0 1.5 5.7 0.0 0.9 1.6

Portugal 1.5 1.0 0.9 0.3 0.4 0.0

Colombia 0.4 0.7 0.6 0.0 0.0 0.0

Others 5.7 4.7 13.3 1.6 2.9 4.3


0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

May-03 May-04 May-05 May-06 May-07 May-08 May-09 May-10

EUR/kgEUR/kg Yellowfin

Skipjack

0

10

20

30

40

Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10

USD/carton

USA

Europe

Skipjack tuna50%

Yellowfin tuna23%

Others14%

Bigeye tuna8%

Atlantic bluefin tuna1%

Albacore4%

Pacific bluefin tuna0%

Tuna ProductionBy Species

Source: FAO

0.80

1.10

1.40

1.70

2.00

2.30

Jul-03 Jul-04 Jul-05 Jul-06 Jul-07 Jul-08 Jul-09 Jul-10

euro/kg


GROUNDFISH

Groundfish species face strong competition

During all of 2009 and early 2010, groundfish prices declined as a result of good supply and strong competition from other whitefish species, such as pangasius. Supply was very good for Alaska pollock from Russia, but also for cod from the Barents Sea, a noteworthy return for a well managed species.

In 2010, the new EU regulations attempting to curb IUU fishing created some supply difficulties for the groundfish market as not all the main supplying countries were immediately able to comply with the new regulations. Russia was one of these but has now been able to supply the EU with the list of competent authorities for IUU catch certification and is therefore once again able to export to the EU without delays.

China also had some problems, as processors were not aware of the documentation necessary to comply with the new EU regulation. In fact, reprocessors also need to provide evidence of the legitimacy of the original catch. Argentine and Chilean groundfish products were on offer at very low prices in the first months of 2010 and these were in competition with Alaska pollock coming from China. The South American countries were well prepared to comply with the new EU regulation and managed to provide all the necessary paper work well in time for the end of December 2009 deadline.

Pangasius replacing cod in UK

In the UK, the main groundfish market in Europe, the increased supply of pangasius from Viet Nam has had a marked effect on the market. Demand for this species grew in 2009 in spite of the adverse economic situation, and imports of frozen pangasius fillets by the UK market

C&F pricesGroundfish blocks: USA

Source: GLOBEFISH AN 010805, 010806, 010834

rose by 60%, even though the quantity (1 000 tonnes) is still quite limited. Increasing quantities of pangasius are used in traditional fish and chips restaurants, as this fish is available at very competitive prices and works well in the frying process. In contrast, sales of cod in the UK fell by 17% over the past year and plaice by 13%. However, sales of haddock have increased by 2%. At present price is the main factor in groundfish sales in the UK market.

Russia is currently the main provider of Alaska pollock to the European market. This country reported abundant groundfish catches in the first half of the year. In fact in the first five months of 2010, Russia caught 1 million tonnes of Alaska pollock, a 25% increase compared with the same period of 2009.

McDonald’s Europe is using haddock to replace Alaska pollock as one of the key raw materials for its Filet-0-Fish. With the 18.5% cut in the US Alaska pollock quota to 815 000 tonnes at the start of this year, McDonald’s made a decision to reduce the quantities of pollock used in Europe because of the species’ importance to its US operation, as a part of their sustainable sourcing policy.

As far as surimi is concerned, production is slow with a limited supply of raw material supply and with the USD-EUR exchange rate in favour of the dollar. This situation has resulted in a grim market situation for frozen products, although prices are stable, despite the low supply rate to the market. On the one hand Russia is

ImportsFrozen cod: UK

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)Iceland 18.0 14.2 19.3 4.0 4.1 4.9

China 21.9 21.4 13.8 6.3 3.0 3.8

Norway 11.4 12.0 9.3 3.9 3.4 3.7

Denmark 12.4 9.0 7.3 2.1 1.5 1.8

Russian Fed. 4.1 3.9 6.5 0.1 1.2 1.3

Germany 4.5 3.7 1.1 0.3 0.3 0.8

Faroe Is. 4.4 4.9 4.6 0.9 0.4 0.7

Poland 3.6 3.8 3.9 0.9 0.9 0.5

Others 6.0 6.0 3.4 0.2 0.6 0.5

Total 86.3 79.0 69.3 18.7 15.4 17.9Source: Seafish/national trade statistics

0.5

1.0

1.5

2.0

2.5

3.0

Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10

USD/lb

Cod

Alaska pollack

Hake


able to export to the EU again, but on the other demand for groundfish in Europe is very low at the moment (it has been declining since the beginning of the year), and supply is more than sufficient. This situation will probably lead to decreasing prices.

GROUNDFISH

ImportsCod-like groundfish: USA

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)FilletsChina 74.5 71.6 74.8 18.7 20.1 19.4

Iceland 11.1 7.9 6.5 2.5 2.9 2.9

Canada 5.5 4.2 2.4 0.6 1.4 1.4

Norway 0.2 0.8 0.8 0.3 0.4 0.3

Others 6.4 5.5 4.7 0.0 1.4 2.4

Total 97.7 90.0 89.2 22.1 26.2 26.4Blocks/SlabsChina 41.7 35.2 38.9 10.3 9.8 9.7

Russian F. 0.8 1.3 2.9 0.2 1.1 0.6

Argentina 2.0 2.3 1.4 0.6 0.2 0.2

Iceland 0.8 0.9 1.0 0.1 0.5 0.2

Norway 0.1 0.2 0.6 0.0 0.1 0.2

Canada 2.1 0.7 0.5 0.2 0.2 0.1

Others 1.7 1.4 1.4 0.8 0.3 0.4

Total 49.2 42.0 46.7 12.2 12.2 11.4Gr. Total 146.9 132.0 135.9 34.3 38.4 37.8Source: NMFS

In February, the earthquake in Chile and the strength of the US dollar affected seafood purchases in Europe. Lower quantities of hake from Chile were available, while other Latin American countries are rerouting supplies to the US market. This resulted in higher prices in Europe. However, as mentioned earlier, demand is now very slow and consumption in Europe has been declining since the beginning of the year. The producers of value added groundfish products in Germany and the UK are focusing on Alaska pollock supply.

Taking an overall look at the groundfish market, the USA shows stable imports for cod, and Alaska pollock prices tending downwards while hake fillets are moving upwards. An overview of the EU market shows Alaska pollock imports and prices declining while cod and hake imports are increasing. Earlier in the year cod prices declined and hake remained stable but both picked up in June.

ImportsFrozen Alaska pollock fillets: Germany

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)China 78.5 89.7 85.9 20.8 24.2 24.7

USA 55.2 53.4 30.0 17.8 8.3 9.8

Russian.F. 25.4 28.9 25.9 4.9 8.5 4.0

Others 5.3 4.9 6.4 0.9 1.2 1.3

Total 164.4 176.8 148.2 44.4 42.2 39.7Source: Statistisches Bundesamt

ImportsFrozen cod fillets: Germany

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)Poland 3.8 2.2 2.3 0.6 0.5 2.2

China 12.2 12.1 4.6 3.8 3.0 2.1

Denmark 1.5 1.8 1.3 0.7 0.4 0.5

Russia 1.1 1.1 0.5 0.5 0.2 0.2

Iceland 0.3 0.2 1.0 0.1 0.1 0.2

Norway 0.6 0.2 0.3 0.1 0.0 0.1

Others 2.7 2.1 1.5 0.3 0.3 0.9


ImportsFrozen hake fillets: Germany

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)USA 6.1 6.3 7.2 2.0 1.5 2.3

Peru 4.1 3.7 4.2 1.5 0.9 1.7

Argentina 6.1 3.5 5.1 0.8 1.7 1.6

Chile 1.0 1.5 0.8 0.3 0.3 0.1

Russian Fed 0.0 0.0 0.0 0.0 0.0 0.0

Others 4.5 5.6 6.4 1.0 2.2 1.3


Alaska31%

Hake13%

Haddock4%

Saithe5%

Cod14%

Whiting17%

Others16%


Demand will continue to be depressed

Summer months are generally not a good sales period for groundfish species in Europe, thus the overall downward trend in prices is unlikely to improve. Much the same is true for the US market. Only in September/October will some changes to the present slow market situation be seen. Generally winter months are more positive for groundfish demand. Groundfish catches are expected to increase on a worldwide level, as a result of good resource recoveries in many fishing areas.

GROUNDFISH

Alaska31%

Hake13%

Haddock4%

Saithe5%

Cod14%

Whiting17%

Others16%

Groundfish ProductionBy Species

ImportsFrozen Alaska pollock fillets: France

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)China 18.6 21.7 22.2 5.7 6.5 4.7

Russian Fed 4.0 7.1 5.8 1.5 1.2 1.2

USA 10.3 7.9 6.0 2.3 1.4 1.1

Germany 4.4 4.2 2.7 1.1 0.8 1.0

Others 0.7 0.6 4.1 0.1 0.0 0.5

Total 38.0 41.5 40.8 10.7 10.1 8.6Source: National Trade Statistics

ImportsFrozen hake: Italy

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

( 1 000 tonnes)Argentina 10.8 10.2 11.9 2.6 2.2 2.5

S. Africa 4.4 5.6 5.5 1.6 1.5 1.3

Spain 5.3 4.3 4.6 1.3 1.2 1.9

Uruguay 4.6 4.0 3.4 0.9 0.9 1.8

Namibia 1.7 2.9 3.0 0.5 0.5 0.7

Peru 0.0 0.4 0.0 0.2 0.0 0.0

Chile 0.2 0.3 1.4 0.1 0.2 0.5

Others 2.8 2.4 2.4 0.0 0.8 1.5

Total 29.8 30.1 32.2 7.2 7.3 10.2Source: National Trade Statistics

GROUNDFISH NEWS UK: NORTH SEA COD SUSTAINABLE AGAIN SAYS WWF AS STOCKS REBOUND

North Sea cod, once on the brink as a result of decades of over-fishing, has now recovered to an extent that the public should start eating it again with enthusiasm, one of the world’s biggest wildlife charities has said. In a rare wildlife conservation success story, the charity WWF said the fish renowned for its flaky white chunks was being caught sustainably in the shallow, cold waters off the coast of northern and eastern Britain for the first time in a decade. Stocks of the fish have risen by 52% from their historic low four years ago be-cause of a combination of cuts in landing quotas and conservation techniques that have reduced the number tossed back dead into the sea. As a result, the EU has increased the British quota for North Sea cod by 16% in 2010, from 11 216 tonnes to 13 000. Although stocks are still low by historic standards, the recovery could prompt British supermarkets to start stocking North Sea cod again. Most cod in grocery chains and fish and chip shops at present comes from Iceland and the Barents Sea. Marine scientists said the recov-ery was evident and welcome, but cautioned the fish was present at only a fraction of its natural level. In a study published in the journal Nature earlier in May, a team from York University estimated that, in 1889, Britain’s fishing fleet was landing twice as much fish as today. Stocks of cod fished by English and Welsh boats have declined by 86% in the past 100 years. North Sea cod has risen from 37 400 tonnes in 2007 to 54 250 tonnes this year. The International Council for the Exploration of the Sea, which advises the EU, estimates the amount required for a recovery is between 70 000 and 150 000 tonnes. Source: THE INDEPENDENT

RUSSIA RAMPS UP US POLLOCK FILLET EXPORTSRussian companies say they expect increased sales of pollock fil-lets to the USA in 2010, following a fourfold increase in 2009. Sales of Russian pollock fillets to the US increased 330%, from 534.8 tonnes in 2008 to 2 300 tonnes last year. For the first quarter, sales of frozen fillets went up 66%, from 830.5 tonnes to 1 383 tonnes. “In 2009, the supply of Alaska pollock fillets from Russia to the United States rose sharply. Supply to the US market increased by 4.3 times, to 2 300 tonnes,” said German Zverev, president of the Russian Pol-lock Catchers Association (RPCA). “This year, we are expecting that export of Russian pollock fillets to the US market will grow more,” he told IntraFish. The Russian pollock fleet produced less fillets during the 2010 ‘A” season, which started 1 January and ended in March, he said. “The producers had to limit fillet output because of the EU ban on Russian fishery product imports during the first two months of the year,” said Zverev. The total amount of pollock fillets produced for the “A” season was 19 600 tonnes. While fillet produc-tion is down, the companies produced 426 000 tonnes more head-ed-and-gutted (HEG) pollock, up 45% on the same period of 2009. Prices dipped, but will rise again, said Zverev. Source: INTRAFISH

Source: FAO


Better demand in cephalopod market is thwarted by low supply

The economic crisis, which impacted the world cephalopod market in 2009, seems to be declining and demand for cephalopods is going up. However, traders are still quite cautious, and are trying to buy smaller specimens at discounted prices. Overall cephalopods are selling at higher prices this year than in 2009, and further price increases are likely. For both squid and octopus this is caused by very limited supply, in an overall climate of better demand.

CEPHALOPODS

Disaster in Argentina Illex fisheries

As already reported, the 2010 squid season in Argentine waters has been a disaster. In the first half of the year, some 28 800 tonnes of Illex argentinus were landed on the Argentina mainland, representing a fall of 47% compared with the same period of 2009. However, the previous season had also been a difficult one. A similar situation occurred in the Falklands/Malvinas where the catch was only 12 100 tonnes, the fourth lowest catch of squid since the beginning of the island’s fishery in 1987. This is comparable with the circumstances in 2002 when the abundance of the South Patagonian Illex stock was low and migration to the southern parts of the ocean was limited by low water temperatures.

In the past, Illex stocks were monitored during their migrations in Argentinean and Falkland waters by the bilateral Argentine-UK South Atlantic Fisheries Commission (SAFC). Unfortunately, the SAFC has been largely dormant in recent years, which has increased the vulnerability of Illex squid stocks as no estimates

of spawning stock biomass have been made. If this fell below 40 00 tonnes, the early closure of the fishery would be recommended.

After two years of poor catches, there are some signs of hope for 2011. Larger sizes of squid observed in 2010 could result in a higher spawning biomass that could result in a partial recovery of the South Patagonian stock next year.

Low catches in the South West Atlantic are impacting the world squid market and Illex prices are now well above EUR 2 000/tonne. South African catches of squid have fallen to low levels, which is normal in this period of the year. Despite this drop in catches, the price of South African Loligo vulgaris has only risen marginally. The Spanish and Italian markets are unwilling to pay more, and are trading down to smaller sizes and squid from cheaper suppliers.

The buying interest for products from low price suppliers has become apparent in Spanish squid imports. China has become the main supplier of squid to this market, by tripling its exports to 7 400 tonnes. Similarly, Indian squid exports to the Spanish market have doubled

Wholesale pricesCuttlefish, squid: Japan

* whole 10 kg/block, 0.4-0.6 kg/pc; ** whole 7.5 kg/block, 21-25 pc/kg;Source: INFOFISH Trade News, GLOBEFISH AN 10501, 09

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0


US$/kg

Squid **

Cuttlefish *

ExportsArgentina: Squid

Jan-Dec Jan-Mar2007 2008 2008 2009(1000 tonnes)

Spain 58.4 61.2 26.1 9.7

China 37.6 66.8 15.1 6.4

Brazil 2.3 2.4 0.6 1.5

Japan 10.7 6.2 2.5 2.1

Italy 11.5 9.2 4.2 1.8

Korea, Rep 4.4 4.0 0.7 1.3

Others 24.3 25.5 5.3 5.8

Total 149.2 175.3 54.5 28.7Source: Redes


to reach 4 000 tonnes. In contrast, the higher price squid exporters reported sharp declines, particularly for squid coming from the South West Atlantic. Even if catches improve in 2011, it will be difficult for Argentina to recover its former top position. The only alternative would be to accept deeply discounted prices. The same trend, though less pronounced, is true for Italy and Japan.

Low octopus catches in Mauritania and Morocco

Mauritania reported very limited octopus catches prior to the seasonal ban from April to June 2010. Fleet operators did not expect much improvement after the opening of the season for the artisanal fleet on 16 June; however, catches were above expectations. In July 2010, the industrial fleet will also become operational, and then price negotiations will become interesting.

The Moroccan authorities also lifted their fishing ban, ten days earlier than last year. The total fishing period will thus be longer than last year but the fishing

CEPHALOPODS

ImportsSquid: Japan

...........Jan-Dec............ ............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)China 30.2 26.1 23.7 5.2 4.8 5.0

Thailand 8.1 7.1 6.8 1.4 1.3 1.9

USA 5.4 3.9 4.0 3.5 0.5 1.5

Viet Nam 6.8 5.5 5.5 1.0 1.0 1.0

India 1.0 1.2 1.3 0.2 0.2 0.3

Korea Rep. 0.9 0.8 0.4 0.0 0.0 0.3

Peru 7.8 12.8 10.4 0.9 1.9 0.2

Morocco 0.2 0.2 0.4 0.0 0.2 0.1

Argentina 10.4 6.3 3.0 0.1 0.3 0.0

N. Zealand 3.3 0.9 1.4 0.1 0.1 0.0

Taiwan PC 0.4 0.2 0.0 0.0 0.0 0.0

Others 2.6 2.8 2.2 0.4 0.8 0.4

Total 77.1 67.8 59.1 12.8 11.1 10.7Source: GLOBEFISH AN 10437, *) included under others

ImportsSquid: Italy

.............Jan-Dec............ ............Jan-Mar...........2007 2008 2009 2008 2009 2010

(1 000 tonnes)Spain 25.2 22.1 22.3 6.3 6.8 7.2

Thailand 22.8 23.4 27.4 5.5 4.7 4.7

India 2.9 3.5 4.2 0.6 1.0 1.5

S. Africa 3.7 3.7 4.8 0.7 0.7 1.4

Peru 3.4 0.9 2.5 0.1 1.1 0.9

Argentina 10.7 10.0 4.7 0.6 0.4 0.3

N. Zealand 0.1 0.1 0.0 0.0 0.0 0.0

Others 32.8 23.2 20.4 6.0 4.1 5.1


ImportsSquid: Spain

.............Jan-Dec............ .............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)China 6.4 6.7 14.1 1.9 2.3 7.4

India 12.8 15.5 15.1 2.3 2.5 5.0

Argentina 61.3 54.4 34.2 4.2 4.9 2.8

Falkland/ Malv. 40.3 45.6 28.1 3.5 3.8 2.4

Morocco 1.4 3.3 4.0 0.6 1.0 2.1

Peru 4.5 1.2 3.0 0.3 0.7 2.0

S. Africa 3.5 4.5 3.7 1.2 0.7 1.4

USA 1.7 2.2 1.5 1.0 0.2 0.7

Korea Rep 2.0 2.9 1.0 1.0 0.2 0.0

N. Zealand 0.1 0.1 0.1 0.0 0.0 0.0

Others 11.8 14.0 8.9 4.1 2.0 2.9


ImportsSquid: USA

.............Jan-Dec............ .............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)China 28.8 27.7 26.1 5.3 5.5 6.7

Korea Rep 3.1 5.4 5.9 0.9 1.0 3.0

Taiwan PC 5.9 5.4 6.9 1.4 1.5 1.5

Thailand 7.2 8.2 4.7 2.8 1.4 1.2

India 4.5 6.9 3.8 0.9 0.9 0.8

Peru 0.1 2.0 3.2 0.4 0.7 0.5

N. Zealand 2.5 1.0 1.0 0.3 0.2 0.1

Others 10.3 8.5 4.5 1.2 1.2 0.9



season will end on 30 August as in the past. The fishing quota is lower than in 2009: 6 300 tonnes is for freezing vessels, down from 7 560 tonnes in 2009, factory vessels will receive 20% less (1 100 tonnes), and artisanal fishermen will be allowed 2 600 tonnes, down from 3 120 tonnes in 2009. The volume allocated to each vessel is also very low. Fishing in the opening months of the year had been quite good, leading to higher octopus exports from Morocco.

Mauritanian waters. Unfortunately, the biomass of octopus does not seem to have improved, in spite of the drastic restrictions on catches.

Mauritanian exports of octopus declined in 2010, from heavy sales in 2009. This country is now limiting supply, with the hope not only of protecting the resource, but also of increasing the value. The opening months of the year are not a good period for Japanese octopus consumption, generally highest during festive seasons. Imports were low, at 7 400 tonnes, one of the lowest in recent history. Mauritanian exports declined sharply because of limited fishing. Morocco, on the contrary, managed to sell more octopus to the Japanese market.

Spain imports mainly from Morocco. The country managed to increase its imports in the first three months of 2010, in line with the higher production in Morocco. Spanish octopus imports from Mauritania declined sharply, reflecting the low catch rates in Mauritanian waters.

Wholesale pricesOctopus: Japan

Source: INFOFISH Trade News, GLOBEFISH AN 10507

CEPHALOPODS

ImportsOctopus: Japan

.............Jan-Dec............ .............Jan-Mar............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Mauritania 14.0 12.6 26.5 4.0 4.2 2.0

Morocco 10.3 10.9 13.8 0.5 0.5 2.5

China 7.2 6.7 5.5 2.3 1.0 1.7

Viet Nam 4.8 5.5 3.7 0.8 1.1 0.7

Spain 1.8 2.7 3.0 1.2 0.4 0.2

Thailand 1.8 1.2 1.4 0.3 0.3 0.2

Others 6.9 5.1 2.3 2.3 0.4 0.1


ImportsOctopus: Italy

.............Jan-Dec............ ............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Morocco 12.3 14.5 16.2 4.4 5.4 3.6

Spain 6.9 8.2 7.6 2.0 1.9 2.1

Viet Nam 3.3 4.5 4.3 0.7 0.5 0.9

Indonesia 2.5 4.0 2.8 0.8 0.9 0.8

Mauritania 2.5 1.4 6.6 0.2 1.6 0.8

Mexico 4.6 2.2 3.1 1.1 0.1 0.6

Tunisia 2.0 0.8 1.0 0.5 0.4 0.4

Senegal 4.2 3.4 4.9 0.6 0.4 0.3

Thailand 2.4 2.8 2.8 0.3 0.4 0.3

Others 7.4 9.1 5.5 1.7 1.3 1.1


This reduction in catch quota will result in higher prices of octopus, up from levels reached in 2009. The trend of octopus prices has been upward for several years now, reflecting the limited availability on the market, a result of strict management efforts in Moroccan and

0

2

4

6

8

10

12

14

16

Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10

0.3-0.5 kg/pc

2.0-3.0 kg/pc

USD/kg

ImportsOctopus: Spain

.............Jan-Dec............ ............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Morocco 19.6 23.2 20.0 6.3 5.1 6.5

Mauritania 4.9 4.5 9.2 1.0 2.3 1.0

China 1.6 1.8 3.7 0.4 0.3 0.5

Viet Nam 2.2 1.6 1.7 0.3 0.4 0.3

Portugal 1.7 2.2 1.1 0.9 0.3 1.0

Senegal 0.5 0.6 0.9 0.1 0.1 0.1

Others 8.8 8.7 6.7 2.3 1.0 1.7



Italian octopus imports declined in the first quarter of the year. Again demand was very weak, and higher prices were met with consumer resistance. Lower quantities of octopus were imported from Morocco and Mauritania. Further declines in octopus imports into Italy are likely.

Cephalopods producion by Species

Squid77%

Octopus8%

Cephalopods nei8%

Cuttlefish7%

High squid prices likely to continue

Squid prices are expected to stay at the present high levels. The preference of traders is for smaller sizes and diversification in the exporters’ mix. The hope is for a better supply of Illex from the South West Atlantic in the 2011 season, which might normalise the world squid market.

The outlook for octopus points towards lower supply, especially from Morocco. As demand is expected to pick up in the summer months, higher prices are likely in all major markets. European traders will have difficulty in competing with Japanese traders because of the weaker EUR.

ImportsCuttlefish: Japan

.............Jan-Dec............ ............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Thailand 11.5 8.3 7.5 1.8 1.6 1.5

Viet Nam 5.1 4.5 4.0 0.9 1.0 0.7

Morocco 3.9 2.2 2.8 0.3 0.2 0.6

Malaysia 1.6 1.7 1.9 0.3 0.4 0.3

Korea Rep. 0.3 0.6 0.8 0.1 0.1 0.2

China 0.4 0.1 0.0 0.0 0.0 0.0

Ghana 0.5 0.0 0.0 0.0 0.0 0.0

Mauritania 0.1 0.0 0.0 0.0 0.0 0.0

Others 2.6 2.3 2.0 0.6 0.5 0.4


ImportsCuttlefish: Italy

.............Jan-Dec............ ............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)Tunisia 5.1 4.1 3.5 1.2 0.9 1.6

France 6.7 5.6 3.7 1.7 1.1 1.4

Spain 3.7 4.6 5.3 1.0 0.9 1.1

Senegal 2.4 1.9 2.3 0.5 0.4 0.4

Morocco 0.8 1.0 2.9 0.1 0.2 0.4

India 0.9 0.7 0.7 0.2 0.3 0.2

Viet Nam 0.8 1.0 0.6 0.2 0.1 0.1

China 0.1 0.6 0.7 0.1 0.1 0.1

Thailand 0.3 0.2 0.5 0.1 0.1 0.0

Others 5.9 5.5 4.3 1.1 0.5 0.9


ImportsCuttlefish: Spain

.............Jan-Dec............ ............Jan-Mar.............2007 2008 2009 2008 2009 2010

(1 000 tonnes)India 18.1 16.8 20.1 2.7 2.8 3.5

Morocco 10.1 12.1 12.8 2.4 2.1 3.1

China 5.1 6.4 6.7 0.8 1.1 0.6

Mauritania 3.6 2.5 2.9 0.8 0.2 0.5

Ghana 2.0 1.5 1.5 0.4 0.4 0.5

France 6.7 3.8 0.6 1.1 0.6 0.2

Others 12.2 8.1 4.4 2.2 1.3 1.4


Monthly pricesOctopus whole frozen: Spain origin Morocco

6.00

8.00

10.00

12.00

14.00

16.00

18.00

Jan-

05

Jul-0

5

Jan-

06

Jul-0

6

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

€/kg

T2

T8

CEPHALOPODS

Source: FAO


Smaller quantities of tilapia in the market

Supply of tilapia from China, the world’s main producing country will be down by 20% in 2010. This decline was primarily caused by the extremely cold winter in early 2010 in China, wiping out whole production areas. In addition, the production will enter the market two months later, as growing out was much slower in the early months of the year.

TILAPIA

some 19% more than in the same period of last year, while other producers such as Indonesia and Thailand reported lower exports to the US market.

Total US imports of frozen tilapia fillets increased by 18% during the first three months of 2010 when compared with 2009. China was responsible for this entire increase, dominating this market segment. Its share in the US

The spring chill in early 2010 lowered the survival rate of tilapia fry, which was only 50% in some areas with a few even dropping to zero, causing a delay in time for tilapia to reach market size. In addition, low prices in 2009 caused by the economic crisis brought losses to some farmers and eroded their confidence in tilapia farming. To avoid future risk, many farmers reduced pond storage in late 2009, by lowering stocking density or moving to mixed-culture with other species. Traditional species such as snakehead or mandarin fish have more stable prices and better survival rates.

Less tilapia in US market

The US tilapia market will be overshadowed by the production problems experienced by China in coming months. For the time being, however, the market is still well supplied with the Chinese tilapia production from 2009. In fact, total imports of tilapia into the USA during the first three months of the year were 48 600 tonnes, some 4 400 tonnes more than in the same period of 2009. The main product in the market was frozen fillets.

Chinese exports of tilapia to the US market in the first three months of the year reached 35 200 tonnes,

ImportsFresh Tilapia Fillets: USA

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

(1 000 tonnes)Ecuador 11.9 8.5 9.1 2.6 2.6 2.5

Costa Rica 4.8 5.6 5.7 2.2 1.6 1.7

Honduras 7.9 8.3 6.5 1.5 1.5 1.6

El Salvador 0.3 0.5 0.5 0.1 0.0 0.1

China 0.0 3.1 0.1 0.3 0.0 0.0

Taiwan PC 0.0 0.6 0.2 0.1 0.0 0.0

Brazil 0.2 0.5 0.3 0.1 0.1 0.0

Panama 0.0 0.0 0.0 0.0 0.0 0.0

Others 1.1 2.1 2.1 0.7 0.6 0.8

Total 26.2 29.2 24.4 7.6 6.4 6.7

ImportsWhole Frozen Tilapia: USA

..........Jan-Dec.......... ..........Jan-Mar..........2007 2008 2009 2008 2009 2010

(1 000 tonnes)China 32.5 29.0 29.7 7.7 5.2 5.6

Taiwan PC 13.5 15.9 13.2 3.8 4.0 3.0

Thailand 0.2 3.3 0.9 0.0 0.5 0.3

Ecuador 0.2 0.2 0.0 0.9 0.0 0.0

Hong Kong 0.1 0.2 0.0 0.0 0.0 0.0

Panama 0.1 0.3 0.1 0.0 0.0 0.0

Indonesia 0.0 0.2 0.0 0.0 0.0 0.0

Others 0.3 0.5 0.3 0.3 0.2 0.1

Total 46.9 49.6 44.2 12.7 9.9 9.0Source: GLOBEFISH, *) included under others

TILAPIA NEWS USA: TILAPIA PRODUCER BOOSTS PROFIT 27%

Net income for the first quarter 2010 at HQ Sustainable Maritime In-dustries (HQS) was USD 1.5 million, up 26.7% from USD 1.1 million in the year-earlier period. Net income during the first quarter was positively impacted by the net recovery in doubtful accounts of ap-proximately USD 700 000 and a decrease in marketing and adver-tising expenses of approximately USD 400 000 from the health and bio-product segment, the company said. Gross profit for the quarter decreased 2.2%, to USD 4.4 million, down from USD 4.5 million last year. Gross profit margin decreased to 30.5%, versus 41.5% in the first quarter of 2009, said Seattle-based HQS. Sales increased 25% to USD 14.4 million, up from USD 10.8 million, and was was prima-rily the result of strength across each segment including aquaculture products, health and bio-products, as well as the new feed products added in late 2009, the company said. Aquaculture product segment sales increased 5.2% to USD 7.7 million, compared with USD 7.3 million in the first quarter of 2009. The aquaculture product segment sales increase is primarily related to an increase in volume and the price of processed ocean-caught fish, the company said. Aquacul-ture product segment sales were partially offset by fluctuations in the market price of tilapia fillets, resulting in a 16.2% decrease in the average selling price of tilapia in the first quarter of 2010. Source: INTRAFISH


TILAPIA

frozen tilapia fillet market increased from 87% to 90%. Indonesia is a distant second for this product form.

Frozen whole tilapia exports to the US market have contracted further. This product is not very attractive to the market, as filleting provides a far more appropriate product for the processing sector in the USA.

Fresh tilapia fillets are in a different market

segment altogether. Their price is almost double that of frozen fillets. Fresh tilapia is aimed at the restaurant trade, while frozen tilapia fillets are processed before entering the retail trade at the lower end of the price scale. Latin American countries dominate this market, taking advantage of their relative proximity to the US market, which reduces shipment costs.

In the first three months of 2010 fresh tilapia fillet imports into the USA reached 6 700 tonnes, a slight increase over the corresponding period of 2009. Ecuador is the main supplier to this market segment, with Costa Rica and Honduras as second and third. Fresh tilapia fillet prices were very low in the opening months of 2010, but have increased since then. At present they are back to the mid 2009 levels, and are likely to increase further in coming months, as the shortage of Chinese tilapia will also impact Latin American tilapia production.

The EU is at last identifying tilapia in their import statistics. Imports of frozen tilapia fillets were 5 450 tonnes in the first quarter of 2010, with China supplying 4 500 tonnes and Indonesia 500 tonnes. Comparison with 2009 is not possible as prior to this year all freshwater fillets were grouped in the same category. However, as Chinese frozen freshwater fillets exports to the EU in the first quarter of 2009 were 3 000 tonnes, a substantial increase of at least 1 500 tonnes must have been received for the present year. However, compared with the US market, the EU market is still in its infancy. The main countries importing tilapia fillets in the EU are Poland and Germany.

Production in China down in 2010

Chinese tilapia production is forecast to be substantially lower in 2010, but some recovery is forecast for 2011. Price trends are thus relatively easy to forecast for this year, with price increases of some 20% likely towards the end of the year. It is also forecast that exports to the USA will decline strongly in the course of 2010. On the other hand, the EU will expand their tilapia imports, and might reach 20 000 tonnes by the end of the year, still relatively small when compared with pangasius imports.

Wholesale priceTilapia fillets: USA

Source: Oil World, GLOBEFISH AN 11702, 11706*) origin South America; **) origin China

Frozen Tilapia Fillets: USA..........Jan-Dec.......... ..........Jan-Mar..........

2007 2008 2009 2008 2009 2010(1 000 tonnes)

China 87.5 87.2 100.7 23.2 24.4 29.6

Indonesia 8.6 9.6 8.8 2.3 2.3 2.0

Taiwan PC 2.6 2.1 2.3 0.6 0.6 0.4

Thailand 0.0 0.4 0.7 0.0 0.0 0.3

Ecuador 0.4 0.5 1.1 0.1 0.3 0.3

Viet Nam 0.1 0.0 0.2 0.0 0.0 0.0

Panama 0.2 0.4 0.3 0.0 0.0 0.0

Brazil 0.0 0.0 0.0 0.3 0.0 0.0

Others 1.2 0.4 0.8 0.0 0.3 0.3


1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5


US$/lb

frozen**

fresh*

Unit valueTilapia exports: China

Source: elaborated from National Trade Statistics

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

2004 2005 2006 2007 2008 2009

other tilapia

Average

frozen whole

USD/Kg


Pangasius is an important commodity in world trade

From almost nothing some five years ago, total pangasius production in Viet Nam is estimated to be 1.5 million tonnes in 2010. Most of this production enters the market as frozen fillets. This species has thus created substantial employment in the Vietnamese processing industry. However, on occasion this species has come under investigation and its sanitary and environmental qualities have been questioned. Up to the present time investigations initiated by the main importing countries have proved negative, showing that pangasius products fulfil all export/import requirements with regard to safety. Pangasius can be accepted as a good source of protein by consumers.

PANGASIUS

Russia back in the game

Vietnamese exports of pangasius to Russia earned over USD 27 million in the first six months in 2010, over twice the amount compared with the same period in 2009. This is in contrast to the situation early last year when the Russian market was completely closed to Vietnamese pangasius. However, the price of tra and basa fish to this market still stands at around USD 2.05/kg, which is very low compared with other markets. Once summer has ended consumption is likely to rise and, by the end of the year, Viet Nam’s pangasius exports to this market will have earned the country almost USD 100 million.

Mexico is also a significant importer of Vietnamese fish and seafood. In 2009, while most of the key importing countries saw reductions, exports to Mexico expanded.

Pangasius exports from Viet Nam - in quantity terms

The value of pangasius imports in 2009 reached USD 72 million, making the country the fourth largest importing country, representing 5% of total exports. This positive trend also continued in the first three months of 2010. The local fishermen are very much concerned with the impact of continually expanding imports on their own local production and sales. Locally produced fish is about 20% more expensive than the imported pangasius.

Viet Nam is very successful in Mexico because of good market promotions. Potential products are presented to buyers, who can taste the products before the purchase. The Vietnamese traders thus establish confidence and credibility in the market.

The amount of glaze on seafood products is an issue that is causing some concern with regard to pangasius

EU38%

Russia7%

Mexico5%

Egypt4%

Others22%

Altro31%

China & HK3% USA

7%Asean

7%Ukraine

7%

Others


PANGASIUS

products. Brazil has taken action by setting the upper limit of glazing at 20%. Pangasius is in strong competition with domestically produced tilapia and Brazil aims to reduce imports of glazed pangasius by the country.

The EU continues to be the main market for pangasius. Total imports in the first quarter of 2010 were 52 100 tonnes, a 10% increase over 2009. The economic situation in Spain and Germany has had the effect of lowering demand and thus imports of pangasius in the first months of 2010. Nevertheless these two countries continue to be the main markets for pangasius in the EU. Poland returned as an important market for Vietnamese pangasius with 7 000 tonnes in the first three months of the year. This market had been extremely strong in 2008, with a per capita consumption of 2 kg per year, probably

ExportsPangasius: Viet Nam

...............Jan-Dec............... .....Jan-Mar.....2006 2007 2008 2009 2009 2010

(1000 tonnes)EU 123.2 172.8 224.3 224.1 47.0 52.2

Russia 42.7 48.7 118.2 39.5 0.0 10*

Ukraine na 23.0 74.4 37.7 4.2 8.7

Asean 28.5 33.8 34.0 43.5 9.7 9.5

China & HK 17.7 18.2 18.5 19.4 4.5 4.9

USA 24.3 21.2 24.2 41.6 7.0 9.0

Mexico 9.8 14.3 23.2 31.1 5.3 9.0

Egypt na 6.3 26.6 26.1 na na

Others 40.4 48.7 97.6 144.7 40.8 51.2

Total 286.6 387.0 640.8 607.7 118.5 144.5Source: Vietfish, 8) estimate

ImportsFrozen Catfish: USA

Jan-Mar2005 2006 2007 2008 2009 2010

(1 000 tonnes) Viet Nam 1.2 1.3 3.8 5.1 6.8 9.0

China 0.4 0.9 5.7 4.7 2.6 4.0

Thailand 0.0 0.7 1.5 1.3 1.5 0.8

Malaysia 0.0 0.8 0.5 0.4 0.0 0.2

Indonesia 0.0 0.0 0.2 0.2 0.0 0.0

Others 0.1 0.1 0.1 0.6 0.6 0.8


1.5

1.7

1.9

2.1

2.3

2.5

2.7

2.9

3.1

3.3

3.5

Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10

skinless, boneless

IQF

EUR/Kg

Monthly pricesPangasius: Spain

the highest in the world. However, for various reasons, including the ban by Russia on the import of pangasius at the beginning of 2009, the Polish market was disrupted as well.

Viet Nam is now also dominating the US market for catfish and pangasius. Total imports of these species in fillet form reached 14 600 tonnes in the first three months of the year, a 30% increase. Vietnamese pangasius accounts for about 60% of this segment, while China makes up for most of the remainder. Exports from Thailand to the US market have fallen, as the country seems to have found other outlets, including the domestic market as well as the Malaysian market.

Positive outlook for the future

Vietnamese pangasius producers are also concerned with environmental aspects and have involved Friend of the Sea in the certification process. WWF is also working with Vietnamese pangasius producers on sustainable aquaculture processes.

Vietnamese exports of pangasius are again hoping for a bumper year. The price level that Viet Nam is able to maintain at about USD 2.00/kg for exported fillets cannot be beaten. In view of the increasing demand for good protein from fish, the country has a very positive future, especially in supplying developing countries with an expanding middle class. This class of consumers is most likely to prefer pangasius to other protein products. New value-added pangasius products will ensure a positive outlook for the future of this species in the world market.


Weaker bream prices as demand is slacking

Demand in the large European cities is declining as schools close for the holidays and consumers start spending more time out-of-town. The seasonal contraction in demand is putting downward pressure on bream prices for which supplies are ample, also helped by new generation fish reaching market size. In contrast, bass prices are slightly up, but remain somewhat lower than for bream, a rather unusual phenomenon.

In this respect, the large volumes of small-size fish around 300 grams now reaching the Italian market from Greece, is certainly a signal of caution as the lower yields will severely hurt producers’ margins. The outlook for deman

Documents

A quarterly update based on the GLOBEFISH databank · 2018. 1. 11. · A quarterly update based on the GLOBEFISH databank 30/7/2010 Issue 3/2010 Food and Agriculture Organization