Overview of Moscow's freshfrozen fish market as per 13-19 October 2008

As per the 42 week of 2008 the Moscow freshfrozen seafood market has been marked by a persistent moderate activity, analysts of www.fishnet-russia.com (www.fishnet.ru) concluded after analyzing the current situation on the market.

More specifically, the world financial crisis has continued to affect to a certain degree the general situation of all the branches of the economy forcing the market players to optimize the expenses. Many traders have been trying to switch to 100% prepayment basis and to make an increasingly greater accent on collecting debts from their buyers for the paid shipments. According to some information, one large trader has decided to shut down its subsidiaries which have not been fulfilling their sales plans as well as reduce expenses within the head company itself.

During the 42nd week of October 2008 the Moscow and other regions' of the West Russia markets have been marked by increase of prices of practically all fish items. Especially, the prices of walleye pollock, blue whiting and Chilean trout have been growing. The increase of prices of the products imported on USD basis has been prominent.

Pink salmon

The situation of pink salmon market has not changed if compared with the previous week of October.

According to interviewed traders, the pink salmon trade has been smooth while the price growth of this item has practically stopped. The average price settled at the level of RUB70.00 per kilo (from 10 to 20 tonnes ex-coldstore) for the products of good quality. Apart from this, there has been a plentiful supply of pink salmon 2008 of medium or poor quality the price of which is unlikely to grow, stabilizing at the level of RUB51.00 - 53.00 per kilo landed in the Russian Far East ports ex-coldstore.

The w/r silverside pink salmon of first grade price increased to RUB69.00 /10 tonnes+ and the pink salmon head-on, gutted of first grade was marketed from RUB70 for the same volume of 10 tonnes+.

On the Moscow market the average price of head-on and gutted silverside pink salmon 1.5+ originating from Kamchatka amounted to RUB70 - 77 per kilo.

The price of pink salmon head-off, gutted, first grade has been notably different from the same item head-on due to the high demand of processors. The price of this item reached the level of RUB90.00 per kilo (from 10 tonnes, delivered from Moscow ex-coldstore).

IQF Pink salmon skin-on fillet 300 was marketed at about RUB95.00-110.00 per kilo.

Chum salmon

As per the 42nd week of October 2008, the situation on the chum salmon market has also been calm. The prices of chum salmon head-on, gutted amounted to ca. RUB82.00 - 85.00 per kilo.

The Head-off chum salmon was marketed at RUB85.00 - 95.00. The prices of head-off, gutted chum salmon Sakhalin (which is suitable only for canning and supplies to federal institutional customers) are most likely to vary from the prices of head-off West Kamchatka (which is more demanded for processing and selling for its better organoleptic characteristics) at a level of ca. RUB10 per kilo.

Salmon roe

The representatives of Moscow frozen fish market confirm the relative stabilization of prices of the salted salmon roe.

The prices of salted salmon roe in cubotainers supplied by large sellers varied at the level of RUB1400.00 - 1500.00 per kilo. However, processors still have not been prone to sell off products, trying to stretch them till the end of the year.

Many Moscow -based processors are already offering the canned roe (packed in tin 140g) at a price of ca. RUB190.00 - 200.00 per can. Large players offered the price from RUB170.00 per 140g tin. The roe in glass jar 100g was offered at a price RUB150.00.

The prices of the other salmon species roe have stabilized and at present have stopped growing. Sockeye roe was marketed at a price from RUB1400.00 per kilo. The price of chum salmon roe amounted to nearly RUB1400.00 per kilo. There were offers of chinook salmon roe at RUB1450 per kilo. The coho salmon Kamchatka was offered at a price of ca.RUB1400.00 per kilo.

Besides, Moscow traders sold frozen pink salmon roe in sacks from RUB800.00 to 850.00 per kilo. It has been unclear how the continuing world financial crisis will affect the trade of deli seafood products.

Atlantic salmon

During the period under review Moscow traders offered frozen Atlantic salmon of various sizes and quality, mainly from Norway and Denmark at relatively stable prices.

Meanwhile, the prices of frozen Atlantic salmon from Chile started growing as the supplies from this country decreased. Notably, the problem of salmon anemia stayed in Chile and according to the official data, in 2009 the salmon production volume in the country may decrease by 20%.

On Moscow market the Atlantic salmon 1-2 superior originating from Denmark was offered from RUB150.00 per kilo.

Chilean salmon 1-2 superior was marketed from RUB142.00 per kilo, while the size 2-3 superior was offered from RUB160.00 per kilo.

Trout

According to Moscow market participants, the supplies of frozen Chilean trout have been stable. The prices of this item have been relatively growing.

Prices of trout 1.8-2.7 grew to the minimal level of RUB177.00 per kilo and the highest level of RUB190.00 per kilo, while the size 2.7-4.0 was marketed at RUB176.00 - 185.00 per kilo.

Both the trout 1.8 - 2.7 Superior originating from Norway was marketed and the size 2.7 - 3.6 Superior were marketed from RUB180 per kilo.

Chilled products originating from Norway stayed at the same price level and were offered on order at RUB180.00 - RUB185.00 per kilo.

Fresh trout from Karelia was marketed from RUB110.00 to RUB140.00 per kilo.

Herring

During 7 - 14 of October 2008 the total herring catch in Norway exceeded 42,800 tonnes with the average size of the fish ca.320g. The prominent part of the harvested fish was sold for human consumption at an average price of NOK3.39 per kilo.

In January - September 2008 the total export of herring to the Russian Federation amounted to 120,455 tonnes, down 2.3 times from the same period of the year 2007 (279,889 tonnes), reports http://www.fishnet-russia.com/ (https://www.fishnet.ru/) with reference to official figures of the Norwegian Seafood Export Council.

More specifically, the total amount of whole round herring exported to the Russian market decreased to the level of 85,541 tonnes in the first nine months of 2008 in comparison with 221,621 tonnes of the same item in the year 2007. Meanwhile, the export volume of frozen herring fillets dropped to 34,914 tonnes in comparison with 58,038 tonnes in the first nine months of 2007.

According to Russian traders, as per the second week of October 2008 the frozen fish market has been marked by continuous shortage of herring of all sizes and although the fishing season in Norway has been going on there has been not enough herring supply in Norway to saturate the demand for this species especially of such popular sizes as 300+, 350+ and 400+.

Some traders offered herring 350+ at a slightly decreased price. Presumably, the price decrease followed the inclination of the traders to get prepayments for their products. But this may be a temporary situation and the price of herring has been likely to grow.

Meanwhile, the price of herring 200 - 300 in Murmansk varied from RUB22.00 to 23.50 per kilo and the price of herring 300+ amounted to ca.RUB29.00 - 31.00 per kilo. The catches of both items have been poor. The offers of Norwegian herring 300+ appeared in Murmansk at a price of RUB29.50 per kilo, of RUB34.00 for herring 330+, and of RUB38.50 for the herring 350+.

Herring 200 - 300 originating from Russia, Murmansk delivered from St. Petersburg was offered by Moscow traders at the price RUB23.00-25.00 per kilo. The size 300+ originating from St. Petersburg, Russia was marketed at RUB29.00-33.50 per kilo.

The Norwegian herring 300+ of the new season was offered from RUB 30.00 per kilo, at RUB36.50 - 40.50 per kilo of the herring 350+ and at RUB 48.50 - RUB55.00 for the herring 400+. Norwegian fresh frozen herring fillets 6-10 were available at RUB49.50-55.00 per kilo in St. Petersburg.

Mackerel

The massive fishery of mackerel in Norway has continued. During 7 - 14 October 2008 the Norwegian vessels fished more than 20,300 tonnes of mackerel average size 420+. All the fish harvested was sold for human consumption at an average price NOK 11.93 per kilo.

The mackerel of the new season has been offered on the Russian market. In St. Petersburg the prices of average size 300 - 500 amounted to ca.RUB70.00 - 75.00 while the mackerel 400-600 was marketed at around RUB95.00 - 100.00 per kilo, and the size 600+ was offered from RUB 120.00 per kilo.

The Canadian mackerel 300 - 500 delivered in St. Petersburg has already been available at a price RUB66.00 per kilo, the mackerel 400 - 600 was marketed at RUB80.00 - 90.00 per kilo. The mackerel 600+ was offered in Moscow at RUB105 per kilo, ex-coldstore.

There appeared offers of mackerel 400 - 600 from Ireland at a price of RUB74.00 - 83.00 per kilo. The headed mackerel 200 - 400 produced in Scotland was available in St. Petersburg at RUB84.00 per kilo, ex-coldstore.

The headed mackerel 400 - 600 from Japan was available in Moscow at the level of RUB77.00 - 100.00 per kilo, ex-coldstore.

The price of headed Russian mackerel 200-300 amounted to RUB67.00 in Murmansk and at RUB68.00 - 72.00 (in St. Petersburg) and at RUB69.00 per kilo in Moscow. The volumes of supply have not been large while the prices have been stable.

Baltic herring, Baltic sprat

As per the second week of October 2008 the frozen Baltic herring and sprat market has not changed much. There has been a certain increase of prices of these items in the situation of general price growth on the markets.

Estonian sprat 10 - 12 was sold at RUB21.50 per kilo. The Swedish sprat 10 - 12 was available in Moscow at RUB25.00 per kilo. The same product item was marketed at RUB23.00in St. Petersburg.

Finnish herring was marketed at RUB24.00-26.00 per kilo of the size 12-15 and RUB26.00-32.00 for the size 16-18. Swedish herring 14-18 to be landed yet was offered at RUB25.00 per kilo, the size 18+ was available at RUB31.00 per kilo, ex-coldstore.

Capelin

As per the first week of October the shortage of capelin on the Moscow fish market has stayed. The supply was practically none both in St. Petersburg and Moscow.

The Canadian capelin 30-40 per kilo was sold at a higher price RUB45.00 per kilo, ex-coldstore. The price of capelin delivered in St. Petersburg reached to ca. RUB43.00 per kilo, ex-coldstore.

There were single offers of Russian capelin 30 - 40 in St. Petersburg at a price RUB36.80 per kilo.

Blue whiting

According to industry sources, the situation on blue whiting market has been unclear. The supply of the blue whiting of Russian origin has been quite limited. There have been offers of the item harvested in May - June while the demand for imported products has been rather small. There have been offers of blue whiting from Norway, Scotland.

The blue whiting backs produced by Murmansk Trawl Fleet was offered at RUB42.00 - 48.00 per kilo, ex-coldstore.

Blue whiting of Russian production was offered at the level of ca.RUB27.00 - 29.00 per kilo in St. Petersburg. Large importers asked higher prices from RUB26.00 to RUB29.50 per kilo. The majority of wholesalers offered the blue whiting at an average price of RUB27.00 per kilo.

The Scottish blue whiting was offered at RUB26.00 - 28.00 per kilo.

There appeared offers of blue whiting fillet cubes originated from China at a price of RUB68.00 per kilo.

Russian pollock

As per the second week of October 2008 the Moscow traders speak about the rapid  price increase of Russian pollock in the Far East from RUB37.00 to 39.00 per kilo for products frozen at sea. The prices of pollock in Moscow have also increased, namely many suppliers offered their products at a price increased by around RUB2.00 per kilo.

The pollock 250+ was sold from RUB44.00 per kilo, the Alaska pollock 300+ was marketed from RUB46.00 per kilo while pollock 350+ was offered at RUB50-52 per kilo.

As for APO fillets, the market remained well supplied with double frozen pollock fillets coming from China. There were offers of skinned APO fillets IQF 6-8 (180g) and 8+ (220+g). The average price of APO fillets 6 - 8 amounted to RUB70.00-75.00 per kilo. In particular, IQF fillets 8+ (220+) amounted to ca.RUB75.00 per kilo.

Hake

According to Russian importers the shortage of hake supplies from all countries on the Moscow market stayed. In Argentina the area of the ban on hake Merluccius hubbsi fishery was enlarged that speaks about the deterioration of the hake stock.

The prices on the Moscow market have been stable or rising. The shortage of hake from Canada and USA has stayed while the price has been gradually growing. The prices of hake from Latin America have been also stable.

There were offers of HGT hake 300-500 from the USA at a higher price of RUB95.00 to RUB99.00 per kilo.

Canadian HGT hake 300 - 500 IQF was offered from RUB88.00 to 98.00, while the hake 300 - 600 IQF landed at RUB90.00 - 100.00 per kilo.

Argentinean interleaved hake 250 - 350 was sold from RUB110.00 per kilo. There were also offers of Argentinean interleaved skinned hake fillets 100-200 at RUB113.00 per kilo and interleaved skinned fillets 200-400 from RUB118.00 to RUB122.00 per kilo, as well as hake 400+ was marketed from RUB126.00 per kilo.

Skinned freshfrozen hake fillets 170-220 made in China were traded at RUB85.00 per kilo, while the interleaved size 200-250 was offered at RUB110.00 per kilo.

Uruguayan HGT hake was marketed at a price from RUB57 while hake fillets in cubes were sold at RUB64.00-70.00 per kilo. The hake from Ecuador 80 - 100 was offered at a price from RUB72.00, while the size 100 - 200 at a price from RUB74.00 per kilo, as well as hake 400 - 600 was marketed from RUB86.00 per kilo.

Squid

The situation with supply on the squid market has stayed unchanged.

In Moscow prices of squid tubes harvested in 2008 and made by NBAMR have been stable and varied from RUB53.00-57.00 per kilo, and there were offers of skinned squid tube made by NBAMR at RUB110.00-125.00 per kilo, skinned wings of squid were marketed at RUB81.00 per kilo, squid rings were offered at RUB118.00 per kilo and the squid in salad mix was available at RUB91.00 per kilo.

Argentinean cleaned tubes of illex squid were marketed at RUB60.00-77.00 per kilo while the unclean squid tube was marketed at about RUB50 per kilo.

Cleaned tubes made in China depreciated to RUB60.00-75.00 per kilo depending upon the size. New Zealand squid tubes 200-300 were offered at RUB50.00-55.00 per kilo, Peruvian squid and squid fillets came down and were traded at RUB37.00 per kilo.

Pangasius

As per the second week of October 2008 the situation on the Moscow market of the pangasius fillet has been unchanged.

More specifically, minimal price of pink fillets 200+ stayed at RUB58.00 per kilo, while the maximum price grew to RUB69.00 per kilo.

There were also offers of fillets 600+ at ca.RUB75.00 per kilo. White-colour fillets were sold at RUB89.00-95.00 per kilo.

Moscow traders also offered other pangasius products such as HGT at RUB90.00-95.00 per kilo, steaks at ca.RUB50.00, and fillets in cubes delivered from Lithuania dropped to RUB51.00 per kilo. Thus, the prices of pangasius products varied from RUB51.00 to RUB60.00.