Export of fish and shellfish from Russian Far East in January - Chinese New Year is coming

January 18, 2012 11:24

It's well known Lunar New Year will happen on January, 23 this year.  It is the major holiday in China and Korea, that's why Export pattern in the late November - early December didn't produce surprises.

APO WR market flopped.  As we've written before African markets are overfilled, and domestic markets in China and Korea are really small.

HG APO market is quickly going down before the New Year.  Processors get rid of stocks and are not going to buy anything before February.  For example, typical price of 25+ grade on December, 20 was a bit higher than $1,600 for MT, on the last week 2011 it was about 1,550, and on the second week 2012 it was difficult to find a buyer for 1,500.  This is far not the bottom.

Fishmeal sales slowed on the same reason.  Typical price didn't change - CFR Busan or China is $1300 for protein level 60-62% without registration with Agriculture ministry, and $300 more with it.

Pink and chum salmon supply to China goes slowly.  Prices are stable at level $2200-2600 for Kamchatka products and up to $3000 for fish from Sakhalin and Kuril islands.

Herring is been delivered to Korea and China.  "Pre-New Year" prices are $960-1,015 for MT.  As for Olytorskaya herring its major market (Japan) is still weak.  Because of low demand even hi-grade Akros product 400-500 gr was sold at about $1700 for MT.  So buyers say.

Crab and prawns are actively exported.  Price is high.

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