Overview of seafood exports from Russia's Far East in August 2010

October 20, 2010 15:15

In August 2010 the market trends for all types of seafood commodities from the Russian Far East featured first of all a considerable rise of shipments of frozen sockeye to Japan and a strong decline of shipments of frozen pink salmon to China. Shipments of pollock and cod to Japan and China were much quicker than last year, just like sales of halibuts, ocean perch and especially Atka mackerel. Shipments of frozen pollock roe and even herring roe and herring itself also grew brisker, while shipments of salmon roe were developing slowly, which could hardly surprise the market specialists due to the current situation on the grounds, according to the overview prepared by analysts of http://www.megafishnet.com/ (https://www.fishnet.ru/) based on Japanese and Russian sources.

In August 2010 the general activity of shipments of Russian crabs was below the last year result, though the activity of shipments of frozen shrimp noticeably increased. Besides, there was a very serious rise of activity of surimi shipments to Japan and squid to China.

Herring

The volume of the Japanese import of frozen herring from Russia in August 2010 amounted to ca.350 metric tons, more than 30% down on July 2010, but still 53% up on last year. Mostly thanks to that rise the general volume of shipments through the period from January to early autumn amounted to nearly 5000 tonnes, more than 15% up on last year.

The average import price through the month rose nearly by 25% to 120 Yen per kilo (1.40 USD per kilo), exactly on a par with the last year result. However, the average indications through the period of eight months amounted to ca.90 Yen per kilo, 12% down on last year.

Import of Russian herring fillets to Japan in August 2010 remained at 450 tonnes, and from January to August 2010 it went down by 24% on last year. The average import price through the period decreased by 11% to less than 360 Yen per kilo, and in August 2010 it was limited to only 325 Yen per kilo (or ca.3.75 USD per kilo), 7% down on last year and practically 7% down on July 2010.

Salmon

In August 2010 the Japanese import of frozen salmon from Russia remained not simply quick, but even brisker (and that was also true for shipments of both sockeye and other salmon species).

The volume of sockeye import jumped by 55% on July 2010 to ca.5900 tonnes, and as compared to August 2009 it jumped by more than 65%. Thanks to that the total import volume through the period from January 2010 turned out to be close to the level of 11,000 tonnes (namely amounting to ca.10,900 tonnes, 47% up on last year).

The average import price (CIF) in August 2010 declined by 5% through the month, but that was a really low decline against the background of a gradual strengthening of the exchange rate of Yen and a quick rise of the share of fixed seine products normally fetching lower prices as compared to driftnet marine sockeye. The August result jumped on last year by 10% even excluding an increase of the exchange rate of Yen (taking into account that the average import price in August 2010 rose by more than 20% on last year to ca.6.70 USD per kilo). In general through the period from January to August 2010 it amounted to ca.605 Yen per kilo, rising nearly by 100 Yen per kilo or 19%.

The Japanese import of frozen chum salmon and other Pacific salmons of the Russian origin in August 2010 exceeded the July result by 10%, and as compared to last year it jumped by 77% to more than 950 tonnes. The total volume of shipments through the period from January 2010 amounted to nearly 2300 tonnes, rising practically four times thanks to resumption of shipments of driftnet products. The average price of August import declined by 10% on July 2010 to only 350 Yen per kilo (4 USD per kilo), but at the same time it turned out to be 65% higher than last year and in general through the period the average indications rose by more than 60% to 370 Yen per kilo.

The volume of the frozen Russian salmon import (less sockeye) to China in July 2010 was limited to only 100 tonnes, but in August 2010 it jumped to 1300 tonnes simultaneously with the rise of activity of fixed seine fishery in Sakhalin. However, as compared to last year the result turned out to be fairly low (the size of import decline amounted to 83%) which was due to weak development of spawning runs. The total import volume of Russian products from the season 2010 in July and August 2010 amounted to only ca.1500 tonnes, more than 6500 tonnes or 80% down on last year. Taking into account peculiarities of the season the size of shipments' decline could hardly be as strong as mentioned above, however shipments could practically inevitably sink as least two times as compared to import of products from the season of 2009 which was close to the level of 80,000 tonnes.

In the meantime, prices dramatically increased. While last year already in the first two months of seasonal import the average price was below 2.00 USD per kilo ranging at 1.50-1.85 USD per kilo, in the current year it formed at 3.00-3.15 USD per kilo, probably meaning that the shipments were dominated by chum (or coho) salmon rather than pink salmon.

Salmon roe

The volume of shipments of frozen Russian products under the HSC for "other roe and insides" (normally used for frozen salmon roe) amounted to only ca.50 tonnes, still showing a strong increase on July (less than 5 tonnes), and in August 2009 such shipments were not registered at all. However, the activity of salmon roe shipments could hardly be called rising as the average import price was limited to less than 530 Yen per kilo or ca.6.10 USD, a very low result for the current salmon roe market conditions. The total import volume for the period from January to August 2010 amounted to 560 tonnes, 24% down on last year. The average import price declined nearly by 40% to only 1015 Yen per kilo.

Shipments of other products were not registered again and the import volume of sieved roe through the period from January 2010 still remained at 20 tonnes imported at the average price of 2035 Yen per kilo.

Herring roe

In August 2010 traders resumed shipments of salted Russian herring roe to Japan and their volume jumped to the level of 200 tonnes, 140% up on August 2009. The average import price amounted to ca.860 Yen per kilo, 6.5% down on last year, though in USD it even slightly rose by ca.3% due to the increased Yen exchange rate.

The total import volume through the period from January to August 2010 amounted to ca.220 tonnes, 50% up on the respective result of last year. The average import price in Yen through the period declined by 3% to slightly below 850 Yen per kilo.

Shipments of frozen herring roe were not registered again.

Pollock roe

The volume of the Japanese import of frozen products from Russia went down by more than 700 tonnes or 39% on July 2010, but it still failed to descend below 1000 tonnes and amounted to ca.1100 tonnes, practically twice up on the last year volume. From January by early September 2010 the import volume amounted to 24,300 tonnes, 59% or more than 9000 tonnes up on last year, while shipments of the Russian raw material to other main directions (South Korea and China) dramatically decreased.

The South Korean import of pollock roe in August 2010 rose by 39% on July 2010 and made ca.520 tonnes, 8% down on the last year result. The total shipments of the Russian raw to the South Korean market in January-August 2010 declined by more than 20% or 1000 tonnes to only slightly more than 3800 tonnes.

The Chinese import in August 2010 grew nearly by 20% on July 2010, but it was still limited to less than 430 tonnes only, 44% down on August 2009. The total shipments from January 2010 went down by more than 25% and failed to reach even 2300 tonnes.

The average price of the Japanese import in August 2010 rose by 3% on July 2010 and amounted to 725 Yen per kilo, 6% up on August 2009. At the same time, the average indications for the first eight months of the year declined by 8.5% to ca.795 Yen per kilo. As for the shipments to South Korea, the average price in August 2010 rose by more than 3.00 USD per kilo or 48%, but in general through the period from the year start it stayed at 7.50 USD per kilo. The average indications for the Chinese import in August 2010 declined to less than 8.70 USD per kilo, 12% down on July 2010 and 13% down on August 2009. The average price for January-August 2010 descended by 11% to 7.60 USD per kilo.

Cod species

In August 2010 traders resumed shipments of frozen pollock of the Russian origin to Japan, while last year the pause in shipments still continued. The import shipments totaled ca.120 tonnes at the average import price of 125 Yen per kilo and the total volume of shipments in the first eight months of the year practically reached the level of 700 tonnes, 155% up on last year. The average import price in January-August 2010 leveled at 140 Yen per kilo.

The Japanese import of frozen Russian cod in August 2010 again turned out to be higher than the US import, but it went down nearly by 40% on July 2010 and failed to reach even 50 tonnes. As compared to last year, it sank even stronger, nearly by 60%, however the total import volume through the period from the beginning of the year already amounted to ca.1200 tonnes, 90% up on last year, while import from the USA declined by 17% to ca.5300 tonnes.

The average import price for the Russian products in August 2010 somewhat declined on July 2010, but stayed at 235 Yen per kilo or ca.2.70 USD per kilo. As compared to last year, it declined more considerably or exactly nearly by 10% practically equal to the rise of the Yen to USD exchange rate. In general, through the period from January 2010 it leveled at 240 Yen per kilo, only 4.5% down on last year, which could be explained by strengthening exchange rate of Yen rather than a decline of actual sales prices in USD.

The volume of the Chinese import of frozen cod and cod species of the Russian origin (most evidently, pollock exclusive) dramatically increased not only on July 2010 and on previous months either, reaching the highest result through the period from the beginning of the year. In January 2010 the import volume amounted to 8800 tonnes, while in June and July 2010 the import volumes amounted to 5000-5500 tonnes, in April and May 2010 they were at about 4500 tonnes. In the first quarter of the year the total import shipments amounted to ca.7000 tonnes. As compared to last year, the import volume in August 2010 also rose fairly strongly, nearly by 35%, however the total import volume from the year start by the beginning of autumn only approximated the level of 35,000 tonnes, practically 30% down on last year (because in the previous seven months of the year the import rates were continuously behind the last year results).

In August 2010 the average import price, which leveled at 2.60 USD per kilo from April to July 2010, was again higher than the last year result with the rise now making 4%. In general, through the period from the start of the year it jumped more considerably, nearly by 19%, to ca.2.55 USD per kilo.

Bottomfish

The Japanese import of frozen Russian halibut (white and black) in August 2010 dramatically fell through the month to only 400 tonnes, ca.37% down on 600 tonnes imported in July 2010 (shipments from Iceland also dramatically decreased, but the total import volume from all the sources slightly increased to nearly ca.3350 tonnes thanks to the rise of imports from Germany and Canada). The total import volume of the Russian products from January 2010 to August 2010 approximated the level of 3500 tonnes, more than 90% up on last year, the August import volume rising nearly by 70% on last year.

The average import price in August 2010 declined by 5% on July 2010, but it still remained much higher than 500 Yen per kilo, namely amounting to ca.540 Yen per kilo (ca.6.20 USD per kilo). As compared to last year it turned out to be 6% lower, but due to a stronger exchange rate of Yen the USD price rose by ca.2.5%.

The volume of the Japanese import of frozen flounder from Russia in August 2010 was limited to less than 130 tonnes, 15% up on July 2010. As compared to last year, it grew even stronger, namely by 130%, however the total volume of shipments through the period from the beginning of the year by the start of autumn still failed to recover to the last year level and amounted to ca.930 tonnes. The average import price in the first eight months of the year declined by 2% on last year, but stayed at the level of 200 Yen per kilo (namely amounting to a little more than 205 Yen per kilo). In August 2010 it still remained on the July level and amounted to 230 Yen per kilo (a little more than 2.65 USD per kilo).

The Japanese import of ocean perch from Russia (shipments were dominated by products from the Northwest Atlantic, rather than products from Far Eastern fisheries) in August 2010 again exceeded the last year result, 113% up on August 2009, and amounted to 950 tonnes, 1.5 times up on July 2010. As a result, the total volume of shipments from January to August 2010 reached ca.3250 tonnes, more than 90% up on last year.

The average import price through the period under analysis declined by 6% on last year to 330 Yen per kilo, and in August 2010 it was already slightly below that level and amounted to a little more than 325 Yen per kilo (or more than 3.75 USD per kilo), 8% down on last year, but in USD the price actually showed no decline at all.

The Japanese import of Atka mackerel in August 2010 continued to be much brisker than last year. At the same time, August 2010 began one of high seasons for active shipments because only through the month the import volume rose practically six times and amounted to ca.2650 tonnes, at least four times up on last year. The total import volume through the period of the first eight months of the year reached 17,000 tonnes, more than 5000 tonnes or 41% up on last year.

The average import price in January-August 2010 increased on last year, which in a situation of serious strengthening of the exchange rate of Yen directly meant even stronger rise of USD prices. In August 2010 it amounted to 210 Yen per kilo (ca.2.45 USD per kilo), 6.5% down on July 2010 and only 3% down on August 2009. The average indications through the period under analysis rose by 4.5% to nearly 230 Yen per kilo.

Crabs

The US import of frozen king crab of the Russian origin (red, blue and golden) in August 2010 grew dramatically slower and its volume correspondingly went down on July 2010 by more than 55% to below 300 tonnes to become the lowest result for the first eight months of the current year. As compared to last year, the August import was also 55% lower on last year and the total shipments from January 2010 went down by more than 35% to only 6700 tonnes. The average import price in August 2010 rose by 2.5% through the month and reached 17.20 USD per kilo (FAS or ex-vessel), 26% up on the result of August 2009 which was lower than 13.70 USD per kilo. In general through the period from the start of the year it rose by ca.1.00 USD per kilo or 6-7% to ca.16.95 USD per kilo.

The US import of frozen snow crab from Russia from the beginning of the year grew by 17% on last year to ca.3650 tonnes, and in August 2010 it exceeded the last year result by 14% and amounted to more than 700 tonnes. The average import price in August 2010 reached 7.70 USD per kilo, 29% up on last year, but in general through the period under analysis it rose by only 5.5% to 6.30 USD per kilo.

The volume of the Chinese import of frozen crab from Russia (shipments were represented mostly by snow crab) in August 2010 was limited to only 200 tonnes, practically three times down on last year. The total shipments from January to August 2010 failed to reach even 2000 tonnes thus displaying a more than 50% decline on last year. The average import price was limited to only 2.45 USD per kilo, but at the same time it rose on last year by more than 30%. However, in general in the first eight months of the year it amounted to a little more than 2.30 USD per kilo, nearly the same 30% down on last year.

The South Korean import of frozen Russian crab from January to August 2010 amounted to ca.1800 tonnes, of which more than 1500 tonnes were represented by snow crab (the average import price leveling at 7.40 USD per kilo). The import volume of live crabs amounted to ca.2300 tonnes, of which ca.1100 tonnes were contributed by king and hairy crabs with the average prices of the products leveling at 11.00 USD per kilo.

The Japanese import of frozen crab from Russia from January to August 2010 amounted to 10,700 tonnes, ca.1000 tonnes or 9% down on last year, and the import shipments of live products, including products from IUU fisheries, went down by 43% to 12,000 tonnes. At the same time, import of live red king crab in January-August 2010 was limited to only 1500 tonnes, more than 61% down on last year, import of live snow crab went down by 44% to 9700 tonnes, while import of live hairy crab increased nearly by 40% to ca.1400 tonnes. In August 2010 import of red king crab rose by 37% on July 2010 and was limited to less than 1000 tonnes, 50% down on last year. Import of live hairy crab increased both on July 2010 (+20%) and on August 2009 (+33%) and reached the level of 300 tonnes.

The average price of import shipments of live Russian red king crab in August 2010 jumped by 30% to 850 Yen per kilo (or ca.9.95 USD per kilo), 47% up on last year, and in general through the period from the start of the year it amounted to ca.830 Yen per kilo, 54% up on last year. As for shipments of live snow crab, the average indications in August 2010 remained on the level of the previous month, namely at ca.390 Yen per kilo (4.50 USD per kilo), 43% up on last year, and in general through the period from the year start it rose by 35% to ca.420 Yen per kilo. The import price of live hairy crab in the first eight months of the year rose by only 7% to 685 Yen per kilo, but in August 2010 when it grew by more than 20% only through one month and reached 755 Yen per kilo (ca.8.75 USD per kilo), ca.31% up on last year.

The Japanese import of frozen red king crab of the Russian origin in August 2010 increased by 37.5% on July 2010, but it was limited to only 110 tonnes, five times down on August 2009. In the first eight months of the year total shipments decreased by 55% to less than 2200 tonnes. The average import price through the period under analysis rose by 7.5%, but failed to reach the level of 1500 Yen per kilo (1480 Yen per kilo namely) (partly due to extremely low July result of 1100 Yen per kilo only), however in August 2010 it amounted to more than 1560 Yen per kilo (18.00 USD per kilo), nearly 30% up on last year.

The import volume of frozen snow crab rose by 3% to ca.8550 tonnes, but at the same time in August 2010 it amounted to ca.2200 tonnes, already 30% up on last year, though nearly 20% down on July 2010. The average import price through the period of eight months of the year rose by only 3% to 900 Yen per kilo, but in August 2010 it rose nearly by 10% on July 2010 and approximated the level of 1000 Yen per kilo (or ca.11.45 USD per kilo), 18% up on last year.

Shipments of other frozen crab species from Russia to Japan in August 2010 were not recorded, while the import shipments of frozen meat were limited to only 200 tonnes versus nearly 3 tonnes imported in August 2009. However, through the period from the year start import of crab meat of the Russian origin jumped more than four times to ca.80 tonnes. The average import price in August 2010 turned out to be higher than last year by nearly 110% and leveled at 3400 Yen per kilo (nearly 40.00 USD per kilo), but through the period from January 2010 it declined nearly by 40% to less than 980 Yen per kilo.

Shrimps

The Japanese import of frozen shrimps from Russia in August 2010 dramatically declined, however as compared to last year the import volume increased which encouraged leveling the total volume of shipments for the first eight months of the year in keeping with the corresponding result of last year. The volume of August import was limited to less than 300 tonnes, 48% down on July 2010 and nearly 55% up on last year. As a result, the total import shipments in January-August 2010 amounted to a little more than 5150 tonnes, 1.5% up on last year, while as per late July 2010 the import volume was slightly below the last year result (the total volume of the Japanese import of frozen shrimp as per late August 2010 grew by nearly 3% on last year to 125,400 tonnes).

However, in terms of the total import value the current year 2010 was still noticeably behind the last year result, even taking into account a stronger than in 2009 exchange rate of Yen. The total import value by the end of August 2010 was limited to only ca.5.2 billion Yen, nearly 15% down on last year. The average import price through the period was limited to only 1000 Yen per kilo, 16% down on last year, but in August 2010 it was only 6% behind the last year result and amounted to ca.1210 Yen per kilo or ca.14.00 USD per kilo, still ca.5% down on July 2010.

Surimi

In August 2010 shipments of Russian pollock surimi to Japan grew brisker again and the total import shipments through the month jumped four times on July 2010. The volume of August import reached 100 tonnes, ca.1.5% up on the import volume of US products. However in August 2009 shipments from Russia were not registered at all, therefore the rise on August 2009 turned out to be much stronger as compared to a 40% rise of shipments from the USA.

The total volume of the Japanese import of Russian products from January to August 2010 practically reached 750 tonnes, more than five times up on last year. Despite a practically double fall of prices to less than 250 Yen per kilo, the import value jumped nearly three times to ca.180 million Yen corresponding to nearly 2 million USD, described as quite a lot for such an unusual for the Russian producers pollock commodity.

Sea urchins

The Japanese volume of live Russian Pacific products dramatically decreased to only 300 tonnes, ca.40% down on 500 tonnes in July 2010. However, as compared to last year the volume of shipments went down by only 6%. And in general through the period from January 2010 the size of the decline was also at the level of 6% and the volume of shipments amounted to ca.6400 tonnes.

Against the background of a dramatic decline of shipments the average import price in August 2010 also jumped to 775 Yen per kilo, ca.55% up as compared to only 525 Yen per kilo in July 2010, but still 6% down on August 2009. On the other hand, as the average exchange rate of Yen to USD in August 2010 was ca.9% higher than last year, prices in USD could hardly be described as descending. Speaking in general through the period from the beginning of the year the average price of the Japanese import of Russian urchin rose nearly by 7% on last year, while prices in USD evidently rose even more considerably.

Squid

The Chinese import of frozen squid from Russia in August 2010 grew dramatically brisker, while in the previous months of the current year the shipments were very weak. At the same time, as compared to last year the volume of shipments also grew much higher, but still due to extremely slow development of shipments from January to July 2010 the total import volume by the current fall failed to reach even 400 tonnes, more than 55% down on last year.

In August 2010 the import volume amounted to ca.300 tonnes, nearly four times up on the import shipments through the first seven months of the year and some 15 times up on August 2009. The average import price was however limited to only 0.50 USD per kilo, nearly 30% down on last year, while as for squid shipments to China from all sources the average prices grew by more than 25% to nearly 1.35 USD per kilo (the import volume rising by 20% to ca.165,000 tonnes).

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