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

September 16, 2010 10:48

In July 2010 shipments of chum salmon and sockeye, cod and halibut, ocean perch and Atka mackerel, herring and frozen pollock roe to main markets of Japan, South Korea, China and the USA showed fairly good development, according to the overview prepared by analysts of http://www.megafishnet.com/ (https://www.fishnet.ru/) based on Japanese and Russian sources.

Good development was also observed for shipments of frozen snow crab, while shipments of frozen red king crab and live crab (just like sea urchins) were developing weakly. The situation with shipments of frozen shrimp was more balanced, though only in terms of the Japanese import volume.

Salmon

In July 2010 the official import of frozen Russian salmon to China remained non-active. Thus, by the start of the new season the total volume of shipments of the Russian raw was still limited to less than 500 tonnes, which was approximately six times down on the volume of shipments in 2009. However, the total volume of shipments of Russian products from the season 2009 (mostly pink salmon) to China as per late July 2010 amounted to ca.79,000 tonnes, more than 230% up on the volume of shipments from the season of 2008. In the current season such activity of shipments should be hardly expected because even in the beginning of September 2010 the pink salmon harvest did not reach the level of 200,000 tonnes, the harvest of chum salmon was limited to only slightly more than 60,000 tonnes, while the total harvest of all salmon species on the grounds of the Russian Far East was below 300,000 tonnes (down from forecasted 340,000-375,000 tonnes).

At the same time, the Japanese import of frozen salmon from Russia was developing more briskly than last year, which could be explained mostly by resumption of driftnet fishery. Import of frozen sockeye of the Russian origin to Japan in July reached 3800 tonnes, 270% up on June 2010 and 76% up on July 2009. As a result, already by the beginning of August 2010 the total import volume through the period from the year start practically reached 5000 tonnes, 30% or more than 1100 tonnes up on last year. Evidently, the total volume of shipments of products from the season 2010 will be higher than the volume of shipments from the season 2009, as catches of sockeye by the Russian driftnetters reached the level of 6000 tonnes, and the total harvest of all the species amounted to more than 10,000 tonnes as per early September 2010, including 3200 tonnes of chum salmon shipped mostly to Japan.

The volume of the Japanese import of frozen chum salmon of the Russian origin in July 2010 amounted to ca.900 tonnes, 96% up on June 2010 and nearly 30 times up on July 2009. In the first seven months of the year 2010 the import volume totaled 1300 tonnes, more than 30 times up on the corresponding result of 2009.

The average CIF import price of frozen sockeye in July 2010 went down by 14.5% on June 2010 to 610 Yen per kilo (ca.6.85 USD based on the average daily exchange rate), but as compared to last year it turned out to be 18.5% higher. As a result, from the year start by the end of July 2010 it exceeded the last year result by 29.5% to nearly 640 Yen per kilo.

As for shipments of frozen chum salmon, in July 2010 the average indications even slightly increased to ca.390 Yen per kilo (or ca.4.35 USD per kilo), 29% down on the result of July 2009.

Import of other frozen salmon species to Japan in July 2010 was not registered, and in the previous six months import shipments totaled ca.100 tonnes of coho salmon at the average price of 325 Yen per kilo (in the first half last year import volume totaled only 5 tonnes at the average price of ca.280 Yen per kilo).

Shipments of fresh salmon from Russia to Japan were not registered again.

Salmon caviar/roe

In July the Japanese customs did not register Russian shipments of processed salmon caviar, and in the previous six months the import shipments totaled only 20 tonnes of salted sieved caviar, while last year such shipments were not registered at all. The average import price amounted to 2035 Yen per kilo or ca.22.10-22.40 USD per kilo.

The volume of the July import of frozen products could amount to ca.5 tonnes, though the figure could be not accurate as the official statistics did not give specific figures for particular species and the market specialists therefore had to rely only on commercial practices. Doubts were also caused by a fairly low average import price of only 560 Yen per kilo (ca.6.30 USD per kilo), while in the first half of the year it was at the level of 1000 Yen per kilo, corresponding to normal prices for frozen sack salmon roe (though they were one third below the last year indications). The import volume through the period from January to July amounted to slightly more than 500 tonnes, 30% down on last year.

Pollock roe

The total import volume of frozen pollock roe of the Russian origin to Japan, South Korea and China amounted to 2500 tonnes in July 2010, 52.5% down on June 2010 (which was no wonder as the main phase of shipments from the season 2010 was already close to an end). However, as compared to last year it grew by 102% or more than two times, and the total import volume through the period from the beginning of the year amounted to ca.28,400 tonnes by the end of July 2010, 34% up on the respective result of 2009 (the total volume of shipments from March amounted to ca.26,800 tonnes). At the same time, import to Japan jumped by 58% to 23,200 tonnes, while import to South Korea went down by 21% to only ca.3300 tonnes, and shipments for processing to China went down by 17% failing to reach even 1900 tonnes. The above mentioned trends highlighted rising needs of the Japanese processors in the Russian raw material in a situation when the seasonal products of pollock roe in Alaska went down to less than 15,000 tonnes, and the average level of quality of Alaskan products stopped being fully compliant with strict requirements of the Japanese market.

The average import price of the Russian products to Japan in July 2010 went down by 8.5% through the month and was limited to only 700 Yen per kilo (or ca.7.90 USD per kilo), 9.5% down on July 2009. The average price though the period also declined by ca.9% to slightly below 800 Yen per kilo (judging by the dynamics of the Yen exchange rate, the decline of prices for the Russian shipments in USD equivalent was much less noticeable).

Quite the contrary, the average import price for shipments to the South Korea in July 2010 rose nearly by 1.00 USD per kilo or 13.5% to ca.8.10 USD per kilo. At the same time, as compared to last year it turned out to be 28.5% up which also told on the general price result for seven months of the year slightly exceeding the last year figure and amounting to ca.7.15USD per kilo by the end of July 2010.

The average import price for shipments to China (CIF) in July 2010 rose on June 2010 dramatically, namely by 120%, and amounted to ca.9.85 USD per kilo, however it still appeared to be below the last year result (though only by 1%). However, the total average indications for the period were limited to less than 7.40 USD per kilo, 8% down on last year.

Herring

The volume of the Japanese import of frozen herring from Russia in July 2010 jumped more than 10 times on June 2010, but it was still limited to the level of only 500 tonnes, which was 27.5% down on July 2009. Nevertheless, the total import volume through the period from January 2010 exceeded the last year result by 12.5% and reached 4600 tonnes. The average import price in July 2010 was again limited to less than 100 Yen per kilo or below 1.10 USD per kilo, 32% down on the last year result. The average indications through the period of seven months declined by 14% to only 85 Yen per kilo.

Shipments of Russian herring fillets to Japan (probably, mostly processed by the Chinese plants) in July 2010 were much quicker than in June 2010, and the import price grew by 64% through the month and amounted to 420 tonnes, 9% up on the import volume in July 2009. However, for the period of seven months of the year it went down by 28% to only ca.2400 tonnes. The average import price in July 2010 was limited to less than 350 Yen per kilo (ca.3.90 USD per kilo), 11% down on June 2010 and 5% down on July 2009, however taking into account strengthening of Yen exchange rate, the price in USD could hardly be below the last year result. The average indications for the first seven months of the year amounted to ca.365 Yen per kilo, 11% down on last year.

Herring roe

Import of Russian products to Japan in July 2010 was not registered at all, namely either shipments of frozen products and those of salted herring roe. Meanwhile, in July 2009 traders imported ca.15 tonnes of salted roe. The total import volume for January-July 2010 amounted to only 10 tonnes, six times down on last year. The average import price of salted products through the period of seven months amounted to ca.615 Yen per kilo (ca.6.70 USD per kilo), 23.5% down on last year.

Crabs

The US import of frozen king crab in July 2010 kept growing, but it was still far from last year results, therefore the general situation with the supply on the market of the USA did not change for better and that resulted into a rise of prices both for king crab and snow crab. In July 2010 the import shipments amounted to 600 tonnes, 5% up on June 2010, but nearly 66% down on last year. The total shipments through the first seven months of the year were limited to less than 6500 tonnes, 34.5% down on last year. The average import price FAS in July 2010 failed to stay at the level of 17.00 USD per kilo, but amounted to a little more than 16.80 USD per kilo, 23% up on the level of July 2009. However, in general through the period from the beginning of the year it rose by only 5.5% to slightly below 17.00 USD per kilo.

The volume of the US import of frozen snow crab from Russia in July 2010 actually reached the level of 1000 tonnes, a very high result for the Russian shipments onto the market of the USA, which was practically completely hold by North American, especially Canadian, producers. Through the month the volume of shipments rose by more than 70% and through the period from April 2010 the monthly harvest jumped four times. As compared to last year, the July import turned out to be 29% up, and the total volume of shipments for the period from the beginning of the year grew by 18% and turned out to be slightly below 3000 tonnes. According to the market specialists, the above mentioned situation could be attributed to a dramatic rise of mutual interests of the Russian producers and the US users in cooperation against the background of exclusively strong structure of the US market and serious scantiness of the supply available. The average import price however remained in keeping with the last year results, namely amounting to ca.6.25 USD per kilo in July 2010 and ca.6.00 USD per kilo for January-July 2010, while prices for shipments from Canada for the period of seven months rose nearly by 15% to ca.8.70 USD per kilo. In July 2010 they even reached 9.15 USD per kilo, 24% up on last year.

The volume of the Chinese import of frozen crab, which was mostly represented by snow crab, in July 2010 went down by 57% and failed to reach even 200 tonnes, 37% down on last year. The total shipments from the beginning of the year went down by 47.5% to only 1700 tonnes. The average import price in July 2010 turned out to be 13% up on last year, but it again failed to reach even the level of 3.00 USD per kilo and amounted to only ca.2.85 USD per kilo. The average indications through the first seven months of the year were even limited to only 2.30 USD per kilo, 34% down on last year.

The volume of the Japanese import of frozen snow crab from Russia in July 2010 grew by 47% on June 2010 to 2700 tonnes, 14.5% up on July 2009. At the same time, the total shipments for the period of seven months turned out to be behind the last year result, though by only 3.5%, and amounted to a little less than 6400 tonnes. The average import price in July 2010 slightly declined, but remained at the level of 900 Yen per kilo (a little more than 10.10 USD per kilo), approximately on a par with the last year result. The average indications through the period declined by ca.2% to 870 Yen per kilo.

The volume of the Japanese import of frozen king crab from Russia in July 2010 was limited to only 80 tonnes, 28% down on June 2010, but more than two times up on last year. The total import from January to July 2010 went down by 29.5% to only 2000 tonnes. The average import price in July 2010 declined very dramatically and was limited to only 1100 Yen per kilo (ca.12.40 USD per kilo), 36.5% down on June 2010 and ca.30% down on July 2009. However in general through the period from the beginning of the year it still exceeded the last year result by 4.5% to ca.1480 Yen per kilo.

The average price of the Japanese import of live king crab (mostly red, but also blue) in January-July 2010 amounted to 815 Yen per kilo, 55.5% up on the respective result of last year against the background of decreasing import volumes by 64%, practically three times down to only 1100 tonnes. However, in July 2010 it was far from being so high and amounted to ca. 660 Yen per kilo (7.40 USD per kilo), 23% down through the month. At the same time, the volume of July import turned out to be 18% below the June result and amounted to slightly below 300 tonnes, 15.5% down on last year.

At the same time, the average import price of live snow crab rose by 13% through the period under analysis and reached the level of 420 Yen per kilo, while the volume of shipments declined by 42% on last year and totaled 8100 tonnes. At the same time, in July 2010, just like in June 2010, it was slightly below 395 Yen per kilo (4.40 USD per kilo), 35.5% up on last year. In July 2010 the shipments volume declined by 11.5% on June 2010 to ca.2100 tonnes, 53% down on last year.

The Japanese import of live hairy crab in January-July 2010 reached the level of 1000 tonnes, 42% up on last year, through in July 2010 was 7.5% behind the last year result and amounted to a little more than 250 tonnes. The average import price through the period was practically completely in keeping with the last year result and amounted to ca.665 Yen per kilo, though in July 2010 it amounted to a little more than 615 Yen per kilo (6.90 USD per kilo), 2% down on last year. In July 2010 it rose by 10% on June 2010, though the exchange rate of Yen strengthened even more greatly (the calculations showed that prices in USD rose by ca.13% through the month).

Shrimps

The volume of the July import of frozen Russian shrimps normally represented by pink deepwater shrimp and partly by more expensive and large coonstripe shrimp amounted to only 500 tonnes, 45% down on June 2010. But as compared to last year, it turned out to be 25% or ca.100 tonnes higher, thanks to which the total volume of shipments from the year start practically recovered to the last year level and amounted to ca.4900 tonnes.

The average import price in July 2010 jumped by nearly 40% to 1270 Yen per kilo or ca.14.30 USD per kilo, however as compared o last year it turned out to be 13.5% or 200 Yen smaller. Lower price level was actually a trend of the current year. In general through the period under analysis it failed to reach even 1000 Yen per kilo, 16% down on last year.

Cod species

The Japanese import of frozen Russian pollock got suspended in July 2010, therefore the total volume of shipments in January-July 2010 was limited to slightly less than 600 tonnes, still 113% up on last year. The average import price amounted to ca.145 Yen per kilo, 15% down on last year.

Unlike pollock, shipments of frozen cod started to speed up again and in July 2010 the import volume jumped more than three times on June 2010 to ca.80 tonnes, 185% up on last year. In general, through the period from the start of the year it rose by 120% to 1100 tonnes (for comparison, shipments from the USA declined by more than 15%). The average import price in July 2010 slightly increased, but remained within 245 Yen per kilo (or ca.2.75 USD per kilo), ca.23% down on last year. However, the average price for January-July 2010 decreased by only 5% to ca.245 Yen per kilo.

The volume of the Japanese import of Russian pollock surimi in July 2010 decreased by June nearly three times to only one container load and amounted to ca.25 tonnes, but last year in July 2010 shipments were completely absent. For the period from January 2010 the import volume amounted to ca.640 tonnes, ca.350% up on last year. The average import price amounted to 235 Yen per kilo, 48% down on last year, while the result for July 2010 remained at the June level of 250 Yen per kilo (ca.2.80 USD per kilo).

Officially registered Chinese import of Russian cod in July 2010 practically remained unchanged from the level of June 2010 and the import volume (the situation with statistics on pollock shipments remained absolutely vague as such figures were expelled from the Chinese import articles two years ago) settled at 5000 tonnes, 7% down on June 2010. Activity of import reached the intermediate maximum exactly in June and July 2010 when the import volume through the two months totalled ca.10,500 tonnes. At the same time, the import activity was fairly high in April and May when the average monthly volume of shipments amounted to ca.4500 tonnes, while in the first quarter of the current year was very low and the shipments from the year start amounted to ca.7000 tonnes.

Last year the absolute peak of activity was observed in July when the shipments totalled more than 12,000 tonnes and in June, August, September and October 2009 the shipments were at the level of 6500 tonnes per month on the average. By the end of July 2009 the import shipments amounted to nearly 44,000 tonnes of Russian products, and in the current year 2010 the import volume declined by more than 40% to only 26,100 tonnes. But, the average import price for January-July 2010 amounted to already 2.55 USD per kilo, 21.5% up on last year. In July 2010 it approximated the level of 2.70 USD (namely amounting to 2.67 USD per kilo) and turned out to be 22.5% up on last year (the average import price in the current year reached 2.60 USD per kilo already in April 2010 and since that time it was gradually moving upwards). As for shipments from the USA, the average indications for seven months remained practically unchanged from the last year level of 2.30 USD per kilo, though in July 2010 when the import shipments totalled only ca.500 tonnes it was at the level of 2.50 USD per kilo.

Halibuts

The Japanese import of frozen Russian halibut (including white and black, but without arrowtooth and bastard in July 2010 rose again, even more briskly, with the total import shipments amounting to 600 tonnes, the highest result for the period from the year start. The July import turned out be 43% up on June 2010 and nearly two times up on July 2009 which, together with fairly high results of several months of the first half of the year, was behind the rise of total shipments from the year start to 3050 tonnes, 89.5% up on last year or ca.1400 tonnes.

The average import price for the period from the beginning of the year amounted to ca.545 Yen per kilo, 8% down on last year, and in July 2010 when the monthly rise amounted to 1% it turned out to be only 5.5% down on last year and amounted to ca.565 Yen per kilo or ca.6.30 USD per kilo (the average official exchange rate of Yen in July 2010 amounted to ca.89.1 Yen per USD, nearly 6.5% up on last year, thus USD prices in July 2010 actually did not decline).

Flounder

The Japanese customs still did not register shipments of fresh flounder from Russia, therefore the total volume of such import from January still remained within only 60 tonnes, but last year the import volume was even smaller at only 45 tonnes. In the meantime, the average import price exceeded the last year result by 24% to ca.350 Yen per kilo or 3.80 USD per kilo.

The Japanese import of frozen Russian flounder in July 2010 declined by 17% on June 2010 to less than 110 tonnes, still more than three times up on last year. Nevertheless, in general through the period from January 2010 the import volume amounted to a little more than 800 tonnes, 10% down on last year.

The average import price in July 2010 dramatically increased to 230 Yen per kilo (ca.2.60 USD per kilo), 42% up on June 2010, but as compared to last year it turned out to be 8.5% smaller. The average price through the period of seven months declined by 12.5% to only ca.205 Yen per kilo.

Ocean perch

The July import of Russian products to Japan exceeded the June result by 500 tonnes and reached the level of 630 tonnes, 63% up on the import volume in July 2009. The import volume through the period from the beginning of the year rose by 84% to ca.2300 tonnes, however nearly all the volume was represented by products from the North Atlantic fisheries, rather than from the Far East region.

The average import price in July 2010 declined by more than 15% through the month to the level of 320 Yen per kilo (ca.3.60 USD per kilo), ca.5% down on last year. The average price for January-July 2010 declined nearly by 5% to 335 Yen per kilo (import from Iceland from January 2010 again rose by 1000 tonnes to 4000 tonnes, of which ca.1200 tonnes were imported in July 2010). The average import price in July 2010 leveled at 360 Yen per kilo, 3.5% down on last year, though in July 2010 it was practically equal to last year and amounted to ca.365 Yen per kilo or ca.4.10 USD per kilo.

Atka mackerel

The volume of the Japanese import of Atka mackerel of the Russian origin was limited to the level of ca.430 tonnes in July 2010, nearly eight times down on last year, but 83% up on last year. The total volume of shipments from the beginning of the year rose by more than 25% to nearly 14,500 tonnes.

The average import price for January-July 2010 leveled at 230 Yen per kilo, 6% up on last year, and in July 2010 it amounted to 225 Yen per kilo (2.50 USD per kilo). As for shipments from the USA, the July price was 31.5% higher and amounted to a little more than 295 Yen per kilo (3.30 USD per kilo), but the average indications through the period of seven months were still somewhat lower at 220 Yen per kilo, and the volume of shipments exceed the Russian shipments by only 100 tonnes, nearly 15% down on last year.

Squid

The volume of official import of Russian frozen squid to China remained fairly limited in July 2010, though import grew nearly by 40% on last year, it was as low as 20 tonnes. The average import price amounted to only 0.45 USD per kilo, it was the lowest result among all sources of shipments (only the result for shipments from Taiwan was more or less close at 0.55 USD per kilo). In general through the first seven months of the current year the import volume totaled a little more than 75 tonnes (according to the official figures), thus accounting for only 9.5% from the last year volume and only 0.05% of the total volume of the Chinese import of frozen squid, which as per the end of July amounted to ca.142,500 tonnes.

The average import price of the Russian products amounted to only 0.66 USD per kilo down from the last year price of 0.70 USD per kilo.

Sea urchins

Shipments in July 2010 grew dramatically weaker and the import volume amounted to only ca.530 tonnes, more than twice down on June 2010. The total volume of shipments, judging by the official figures, in January-July 2010 was limited to less than 6050 tonnes, 6% down on last year. In July 2010 the volume of shipments was already 11% down on last year. The average import price in July 2010, just like in the previous month, was limited to 500 Yen per kilo (5.60 USD per kilo), 22% down on last year. however, the average indications through the period still turned out to be ca.8% up on last year and amounted to a little more than 565 Yen per kilo.

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