Export from Russian Far East in February 2012

February 17, 2012 08:41

Herring season is almost over, APO A-season is coming to middle.  Spring Festival in China is over (we better know it as Lunar New Year).  The year has really started, reports http://www.megafishnet.com/.

APO HG market has traditionally gone down before the New Year.  The same tradition didn't allow it to go up after the holidays.  Chinese processors buy abundant raw material, everybody with money make inventory for the year coming.  For example, typical price of 25+ grade is coming to $1,300 for MT, but has not crossed the level.

It is well known that HG price is greatly determined by double frozen fillet price in Europe.  The respective contracts have not been signed as yet - very unusual, and there are rumors that allegedly either Pacific Andes or Nippon Suisan proposed some retail chains fillet at a price equal to HG $1,100-1,150.  Neither processors nor fishermen can accept this level, however the pressure is really strong.

Fishmeal price is going down on the same reason.  Typical price CFR Busan or China is $1,200-1,300 for protein level 60-62% without registration with Agriculture ministry, and $300 more with it.

The last herring shipments are been delivered to Korea and China, mainly to fulfill old contracts.  Prices are $880-1,000 for MT.

Crab and prawns are actively exported. Price is high.

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