Overview of Moscow's freshfrozen fish market in the second week of November 2008
In the second week of November 2008 seafood trade in Moscow has been recovering after the national holidays in the first week of November, though the market activity has remained weak, analysts of www.fishnet-russia.com (www.fishnet.ru) concluded after analyzing the current situation on the market.
Both the wholesale and processing markets have nearly come to a standstill with no large purchases observed. The wholesalers only purchase fish to fill up their inventories with seasonal products such as chum salmon, pink salmon, and Russian pollock as well as imported range of products. The traders still expect brisker market activity when the weather grows colder and the consumers go to shops to buy products for the New Year celebrations, these purchases are supposed to liven up the demand and speed up commodity flows.
The market participants report retaining negative price trend for pink pangasius fillets, as well as growth of prices of Berryteuthis magister squid against limited demand. The railway tariffs for transportation from the Russian Far East have seen a noticeable reduction, thus positively influencing the dynamics of wholesale purchases.
Increasing number of active market participants are making complaints against banks delaying payments. More specifically, the traders have sometimes been facing a situation when the customer orders the payment at the bank and the money does not appear on the account of the supplier.
Besides, the Central Bank of the Russian Federation has increased the refinancing rate to 12% (2% up on February 2008) and interest rates for transactions conducted by the Bank. That means that the credits will become even more expensive. Besides, the Central Bank of the Russian Federation has expanded the Euro-USD pair corridor to the ruble by RUB0.30 both ways.
In the second week of November 2008 the situation on Moscow's pink salmon market has remained on a par with the previous week only with a slight downwards fluctuation. The supply of head-on gutted pink salmon keeps growing at ports of the Russian Far East, while prices are tending to decrease to RUB53.00-55.00 per kilo.
In the central part of Russia, and, in particular, in Moscow the prices remain stable. The average price of frozen pink salmon of fairly good quality remains at RUB67.00-68.00 per kilo ex-coldstore for the lots from 10 tonnes.
In the second week of November 2008 in Moscow 1st graded w/r pink salmon silverside has been offered from RUB68.00 per kilo for the lots from 10 tonnes, 1st graded head-on gutted pink salmon has been traded from RUB68.00 per kilo on the same terms.
Prices of 1st grade pink salmon headed and gutted amount to RUB87.00-90.00 per kilo for the lots from 10 tonnes ex-coldstore in Moscow.
Pink salmon fillets skin-on IQF 300 grams have been available at RUB95.00-112.00 per kilo.
If the nation's banks fully resume crediting retailers and processors on a large scale, the pink salmon prices will start dynamically rising closer to the end of the year.
Some importers have been offering US headed pink salmon 1+ in transit to coldstore in Saint Petersburg from RUB95.00 per kilo.
According to the market participants, in the second week of November 2008 trade in chum salmon has been calm and the market has been showing oversupply in this Pacific salmon. More than 3000 tonnes of chum salmon of questionable quality (with serious spawning changes) have arrived to Moscow region, which has caused a dramatic fall of product prices to RUB60.00 per kilo.
Prices for 1st grade (good quality) head-on and gutted chum salmon harvested in Kamchatka have amounted to ca.RUB77.00-80.00 per kilo ex-coldstore in Moscow.
Headed chum salmon with spawning changes has been offered from RUB60.00 to RUB75.00 per kilo. Chum salmon harvested in Sakhalin may be used as raw material for canning, and certainly increase the output of canned chum salmon natural and salmon ragout.
In the second week of November 2008 the market participants have been reporting a continuous decrease of prices for salmon roe of average and lower quality due to poor demand from the Russian regions.
Large suppliers have been selling salted caviar in cubotainers from RUB1350 to 1400 per kilo in Moscow.
Canned salmon caviar has been offered by Moscow processors at RUB170.00-190.00 per 140-gram can. Large processors have been offering the product from ca.RUB175.00 per can. Salmon caviar in 100-gram glass jar has been traded from RUB150.00 per can.
Prices of caviar of other salmon species in Moscow have stabilized and ceased rising. In particular, sockeye caviar has been available in the capital from RUB1300.00 per kilo and the supply of the product has been practically zero.
Chum salmon caviar has fetched ca.RUB1400.00 per kilo.
Caviar of coho salmon harvested in Kamchatka has been marketed at ca.RUB1350.00 per kilo.
The traders have started offering sack roes of sockeye, coho and pinks at prices of RUB750.00 per kilo.
In the second week of November 2008 prices for export quality frozen Atlantic salmon at auctions in Norway have jumped by 5.8% to NOK32.93 per kilo.
In Moscow frozen North Atlantic salmon has fetched stable prices without any dramatic fluctuations observed. The market supply has been strong with all the sizes present on offer. The traders have been offering products from Norway, Chile, Denmark and Faroe Islands.
On Moscow market the Atlantic salmon 1-2 superior originating from Norway has been offered from RUB170.00 per kilo, while the sizes 5-6, 6-7, 7-8, 8-9 and 9+ have been correspondingly offered from RUB240.00, RUB225.00-245.00, RUB226.00-RUB248.00, RUB250.00 and RUB251.00 per kilo.
Chilean salmon 2-3 premium has been marketed from RUB160.00 per kilo, while the sizes 3-4, 4-5, 5-6 and 6-7 have been traded from RUB200.00, RUB208.00, RUB210.00 and RUB212.00 per kilo respectively.
Frozen salmon bellies 3+ originating from Chile have been offered from RUB158.00 per kilo. Salmon 1-2 made in Denmark has been offered in Moscow from RUB150.00 per kilo.
Chilled salmon 5-6, 6-7 has been offered by many traders on request from RUB180.00 per kilo.
There are also offers of chilled non-gutted salmon from 2 to 7 kilos farmed by ZAO Gigante-Pechenga (closed JSC) in Murmansk from RUB140.00 per kilo.
According to foreign sources, Chilean export of frozen trout in September 2008 has increased. Shipments for Russia, except for trout fillets, have reached nearly 2400 tonnes, while the share of Russia in the total Chilean export of trout has risen to 46%.
However, experts say, in October 2008 Chilean export of trout to Russia drastically decreased (though no official information has been available to prove the information so far). Probably, the decrease can be attributed to the crisis, tougher crediting conditions for the external traders, a dramatic worsening of the position of a number of retail chains and weakening of RUB exchange rate versus USD (however ruble has appreciated versus Euro).
In the second week of November 2008 the Moscow market has been showing a slow rise of prices for frozen Chilean trout.
Chilean trout 1.8-2.7 has been available from RUB177.00-180.00 per kilo, trout 2.7-4.0 has slightly appreciated from RUB182.00 to RUB185.00 per kilo.
Trout 1.8-2.7 Superior, 2.7-3.6 Superior and 3.6-4.5 all originating from Norway have been marketed from RUB172.00, RUB182.00 and RUB200.00 per kilo correspondingly.
Danish trout 2.7-4.0 has been sold from RUB185.00 per kilo.
In Moscow large wholesaler has been offering Karelian freshfrozen headed and gutted trout 0.9-1.8 from RUB150.00 per kilo.
Karelian farmed chilled trout has been on sale from RUB130.00 to RUB140.00 per kilo.
Chilled products from Norway have been traded by large wholesaler on request at the following prices: from RUB150.00 per kilo of head-on gutted trout 3-4 Superior and RUB166.00 per kilo of head-on gutted trout 5-6 Superior.
In the second week of November 2008 the situation with herring shipments remains stable, and the market has been showing increased shipments of imported herring of all sizes.
According to the Norwegian sources, the total volume of herring exports to Russia in October 2008 decreased. Due to strong demand for large sizes, product prices grew approximately by NOK0.50 as compared to the previous week.
Herring from Norway has been offered in transit to coldstore in Saint Petersburg from RUB26.00 per kilo of the size 200-300, from RUB30.00 for the size 300+, from RUB37.00 per kilo of the size 350+, and from RUB49.00 to RUB55.00 per kilo of the size 400+.
Norwegian herring flaps 5-8 have been offered ex-coldstore in Moscow at RUB56.00 per kilo, while the count 6-10 has been on offer at RUB48.00-51.00 per kilo.
Prices for the Russian herring remain stable. Herring 200-300 of the Russian origin has been offered ex-coldstore in Saint Petersburg from RUB23.00 per kilo, while the sizes 250+ and 300+ have been marketed from RUB23.00 and RUB30.00 per kilo. Poorly graded herring classified as large and fat has been traded from RUB23.00 per kilo, the product reported as slightly appreciated.
The autumn fishery of fat herring has been actively progressing with good results in the Russian Far East. Large volumes of Pacific herring have been delivered from ports of the Russian Far East to the regions up to the Urals. The offer prices have undergone the seasonal and planned decrease to RUB20.00 per kilo.
The traders have also been forecasting a further decrease of wholesale prices to RUB17.00-18.00 per kilo by the end of November 2008.
In the second week of November 2008 the mackerel market has been gradually growing saturated. The supplies of all the sizes have been also growing in number, while the product prices have been stabilizing.
The market players have been offering mackerel both in transit to coldstore and ex-coldstore with the produce originating from Norway, Scotland, Iceland and Russia.
As the first ten days of November, Norwegian w/r mackerel has been offered by many market participants at following prices ex-coldstore in Saint Petersburg: at RUB65.00-68.00 per kilo of the size 300-500, at about RUB83.00-92.00 per kilo of the size 400-600, and from RUB120.00 per kilo of the size 600+.
The Icelandic mackerel 300+ has been offered ex-coldstore in Saint Petersburg from RUB60.00 per kilo, while the size 400-600 has been on sale from RUB85.00-90.00 per kilo.
The Canadian mackerel 300-500 delivered in St. Petersburg has been available at a price RUB66.00 per kilo, the mackerel 400-600 has been marketed at RUB85.00-90.00 per kilo.
The Scottish mackerel 400-600 has been available in St. Petersburg at RUB83.00-85.00 per kilo ex-coldstore. The size 600+ has been offered from RUB125.00 per kilo.
The headed Russian mackerel 200-300 has been fetching RUB67.00 per kilo in Murmansk and RUB68.00-72.00 per kilo in Saint Petersburg and RUB69.00 per kilo in Moscow. The supply has been not very large, but the prices have been stable.
Baltic herring, Baltic sprat
In the second week of November 2008 the situation on the market of Baltic sprat and herring has not changed. More specifically, Estonian sprat 10-12 cm in transit to coldstore has been sold at RUB21.50 per kilo. Swedish sprat 10-12 cm has been available ex-coldstore in Moscow from RUB24.80 per kilo. The same product in transit to coldstore has been marketed at RUB23.00 in St. Petersburg.
Finnish herring has been marketed in Saint Petersburg from RUB19.50 per kilo of the size 11-15 and RUB26.00-32.00 for the size 16-18 subject to prepayment. Swedish herring 14-18 has been offered at RUB24.80 per kilo in Moscow, the size 18+ is available at RUB32.00 per kilo ex-coldstore.
In the second week of November 2008 the capelin prices has been displaying a certain growth. One large importer has been offering capelin originating from Iceland and Norway ex-coldstore in Moscow at prices increased from RUB30.00 to RUB32.00 per kilo. Canadian capelin 30-40 has appreciated from RUB40.00 to RUB42.00 per kilo.
Smaller suppliers have been offering this product from RUB48.00 per kilo.
Norwegian large capelin 25-35 has been offered ex-coldstore in Saint Petersburg from RUB45.00 per kilo.
The Russian capelin has been marketed ex-coldstore in Murmansk at RUB38.00-41.00 per kilo.
According to the market participants, blue whiting prices keep gradually increasing. In Murmansk blue whiting 20+ has been offered at RUB22.00 per kilo. In Saint Petersburg the price has remained at RUB26.00 per kilo so far, while in Moscow the average price amounts to ca.RUB30.00 per kilo. Probably, in the near future the prices are expected to start falling in the central Russia as well.
In the second week of November 2008 traders have been offering blue whiting from the harvest of June-July ex regional coldstore at RUB24.00-25.00 per kilo.
Large importers have been asking from RUB26.00 to RUB29.50 per kilo of blue whiting. The average price charged by most of the wholesalers has been fluctuating at RUB27.00 per kilo.
Scottish blue whiting has been offered ex-coldstore in Moscow and the surrounding region at RUB26.00-28.00 per kilo.
The blue whiting backs produced by Murmansk Trawl Fleet have been offered at RUB42.00-48.00 per kilo ex-coldstore.
Blue whiting fillets have been offered ex-coldstore in Saint Petersburg from RUB40.00 per kilo.
Traders have also launched sales of blue whiting fillet cubes originating from China at a price of RUB68.00 per kilo.
In the second week of November 2008 Moscow traders have noted a continuing rise of prices of walleye pollock in the Russian Far East. In Moscow the product prices have been also rising.
By the beginning of the second week of November 2008 pollock has been traded in Moscow from RUB49.00 per kilo of the size 25+, from RUB51.00 per kilo of the size 30+, and at RUB52.00-55.00 per kilo of the size 35+. Small volumes of land-frozen late autumn pollock have been shipped for Moscow.
As for double frozen products originating from China, Moscow traders have a fairly large supply of fillets 6-8 and 8+ on offer. The average price of pollock fillets 6-8 amounts ca.RUB70.00-75.00 per kilo. Ex-coldstore prices of IQF fillets 8+ have been fluctuating also at RUB75.00 per kilo.
As per the second week of November 2008 the situation on Moscow's hake market has remained stable. Many traders offer Canadian and US hake. Besides, the Russian hake made by ZAO Magellan (closed JSC) has appeared in Moscow coldstores.
In the first week of November 2008 American HGT hake 300-500 in Moscow have available from RUB95.00 to RUB99.99 per kilo on the average. Canadian HGT hake 300-500 IQF has been offered in Moscow from RUB87.00 to RUB88.00 per kilo.
Hake 400-600 made by Magellan has been offered from RUB87.00 per kilo ex-coldstore in Moscow.
Hake from Ecuador has been available in the capital from RUB72.00 per kilo of the size 80-100, from RUB80.00-85.00 per kilo of the size 100-200, from RUB86.00 per kilo of the size 200-400, and from RUB86.00-91.00 per kilo of the size 400-600.
The supply of Argentinean hake has decreased due to the product's noncompetitiveness.
HGT hake 800-1200 has been offered ex-coldstore in Saint Petersburg at a price of RUB100.00 per kilo.
Argentinean hake fillets have been marketed in Saint Petersburg from RUB116.00 per kilo of the size 80-200, while the size 200+ has been sold from RUB119.00.
In the second week of November 2008 the situation on Moscow's freshfrozen squid market has been mixed. The market participants have divided into two camps. Some of them think that the squid prices will go up in view of the coming New Year and eventual stabilization of the financial sector and as per mid-November they have been offering squid from the new harvest from RUB57.00 per kilo. The other traders are pessimistic when forecasting the situation in the coming weeks and in mid-November current they have been trading squid from RUB54.00 per kilo with the demand described as weak. Some traders have been reporting complete suspension of sales.
More specifically, in the capital the minimum price for squid tubes harvested in 2008 and made by Vladivostok-based NBAMR have been reported at RUB55.00 per kilo. The maximum price has been recorded at ca.RUB57.00 per kilo.
Squid tubes made by another Russian producer Akros have been available from RUB57.00 for lots larger than one metric ton.
In the Russian Far East squid tubes from the new harvest has been offered ex-vessel from RUB45.00 per kilo and at RUB50.00-51.00 per kilo ex-coldstore. Squid tentacles have been on offer from RUB38.00-39.00 per kilo less discounts for volumes.
In the second week of November 2008 the market has been pressed by the competing Argentinean squid. According to the market participants there has been a good demand for Argentinean illex squid tubes IQF at prices from RUB45.00 per kilo. The operators say that trade in illex squid is more profitable with the lower price the turnover is brisker and the profit is higher. However, this product has its own market niche and the demand for the domestic magister squid has retained in spite of everything. It can be explained by the fact that many Russian processors have their production lines tuned for magister squid.
Non-cleaned illex tubes have been offered from RUB43.00 per kilo.
Cleaned squid tubes originating from China have been offered from RUB60.00 to RUB75.00 per kilo depending on the size.
New Zealand squid tubes 200-300 have been sold at RUB50.00-55.00 per kilo.
Peruvian giant squid fillets have been marketed from RUB37.00 per kilo.
In the second week of November 2008 the coldstores of Saint Petersburg have been overstocked with pangasius fillets, and there are also a lot of containers in transit to the city. The demand for the products has decreased due to stricter payment conditions. At present the starting price in Saint Petersburg amount to RUB48.00 per kilo with discounts also possible. The traders think that with the demand strengthening by the New Year the prices may grow to RUB52.00 per kilo at the maximum, if the suppliers resume sales on credit terms.
As per the first week of November 2008 pangasius fillets have kept depreciating in Moscow.
As per mid-November the minimum price of pink-coloured pangasius fillets 200+ in Moscow has decreased to RUB50.00 per kilo, while the maximum price has gone down to RUB65.00 per kilo.
White-coloured fillets 200+ IQF have been on sale in Saint Petersburg from RUB75.00 per kilo.
Pangasius fillets 600+ have also been sold at about RUB75.00 per kilo.