Groundfish：Price indications in December point to continued downward pressure on frozen groundfish prices. The negative trend has been reinforced in euro markets by the dollar depreciation. 2003 ends with euro prices for many groundfish products well down on those pertaining at the beginning of the year. In addition to the depreciation of the dollar, stronger supplies of certain products, including Alaska pollock, have also played a role in the downward trend during the year. The return of China to EU markets with competitive prices for double frozen fillets has probably also been an influence.
In the French cod market, competition remains active between suppliers from Iceland, Norway and Russia. Good demand is reported in the cod portion segment with price quotes for Icelandic IQF portions at just over €7/kg. French frozen cod imports for the January – August period this year are up 20% to 12 000 MT with average unit prices down 2% for fillets and down over 20% for H&G and mince products, compared to the same period in 2002.
In the German market, skinless boneless cod blocks from Poland are quoted at €4.80/kg, down 8% on recent quotes for the same product from Lithuania. German imports of frozen cod products from Poland were up 10% during the first 7 months compared to the same period in 2002. In the French market, frozen cod fillet imports from Poland are also up, + 250% to over a 1 000 MT for the first 8 months of 2003. Frozen cod imports generally are up at least 20% in both markets this year.
Demand for frozen saithe portions (dos de colin-lieu) is reported to be buoyant in the French market where saithe is the number one portion product in the institutional catering sector. Prices quoted for portions from the Faroe Islands are at €3.15/kg, almost half those for cod portions. In Germany, saithe block prices this month are down 2.5% on October prices.
The negative trend in Alaska pollock prices continued this month. In dollar terms, price quotes for blocks of US or Russian origin are down between 2.5 and 5% on November and between 10 and 12% on July. In euro terms, the drop is more pronounced, 6-12% on November and 17-19% on July prices. Alaska pollock minced block prices are also down, 4% in dollar terms and 9% in euro terms since November.
In contrast to cod, saithe and Alaska pollock, frozen hake prices are largely unchanged on November prices in dollar terms. Indications for mince blocks show a slight decline on November.
Tuna：Tuna supplies for the canning sector continue to be strong and prices remain under downward pressure. With yellowfin predominating, catches in the Indian Ocean in November were above the monthly average for the year although below the October peak. Large volumes of skipjack have also been landed in South America which has put negative price pressure on loins. In the Atlantic Ocean, catches, however, appear to be slower.
On the demand side, the European market is well supplied and cold stores are reported to be fully stocked. Price quotes, cfr Spain, for round frozen yellowfin (Indian Ocean origin) are down around 7% on November while round skipjack quotes are down at least 10%. With holiday closures looming for many canners, there are few indications of a pick up in prices in the near future.
Pelagics：There are reports of good December sales of mackerel and herring to Russia. With limited pelagic landings in Norway and a depreciating dollar, the dollar price trend is positive.
Mackerel landings in Norway are much reduced and size grades consist mainly of 600gr+, destined for Russia, and 200-400gr, sold mainly to Romania where demand is strong. In the round herring market, prices are up on November levels with good demand in both Russia and Ukraine. The skinless fillet market in Germany appears to be undersupplied and fob prices in Norway are up1-4% on November. There is also a shortage of larger flaps in the German market with landings now mainly in the medium and small grades. Prices for the 6-10/kg are up around 10% on last month.
Salmon：The European fresh salmon market reports strong demand in anticipation of the Christmas festivities. Prices are firming but supplies are plentiful and no permanent rise in prices is expected. Export statistics from Norway for the first 11 months of 2003 show salmon exports up 15% in volume but only 7% in value, a clear indication of lower prices per kilo compared with last year. In fact, the average export prices for salmon dropped more than 2 NOK to NOK 24.29 per kilo overall and to NOK 21.08 for fresh gutted salmon. The weak prices are forcing further consolidation in the industry with closures of the smaller packing stations.
Shrimp：Farmed shrimp prices in European markets remain under downward pressure. In Italy, PUD and PD Penaeus prices for Indian product are down 2-3%. India has increased its share of Italian frozen shrimp imports this year, jumping from 5% for the first 8 months of 2002 to 8% for the same period this year. In Germany, Penaeus prices are also weak although trade indications suggest a pick up in the second half of December. Prices for Macrobrachium rosenbergii are described as stable but with an upward tendency. German shrimp imports were up 12%, to 14 600 MT, for the January-July period this year compared to the same period last year. Average unit prices were down 13%.
Weak European prices for farmed shrimp are due in no small part to increased supplies from South America. Exports from Ecuador to Europe were up 46% in volume terms (+25% in value) in October. The Ecuadorian industry has overcome the disease problems experienced in the late 1990s. Shrimp exports this year from Brazil worldwide passed the 50 000 MT level in October. Total export volumes for 2002 as a whole were at 40 000 MT.
Bivalves：Consumer demand for mussels and oysters in France was described as weak at the beginning of December although the key period for oyster suppliers will be the second half of December which accounts for the bulk of French sales. Estimates put retail prices for gigas oysters somewhat above those for last season. Flat oyster prices on the other hand appear to be under pressure. Stock levels are relatively high in France while supplies from Turkey and Greece to the Italian market are reported to be strong.
In contrast to oyster sales, French mussel sales are normally quiet between the middle of December and the middle of January. Prices for bulk rope mussels from Ireland, cif France, are in the €1-1.20 range. With very limited domestic volumes, French mussel imports should pick up from the second half of January.
