Russian buyers making projections for purchases of Icelandic mackerel from forthcoming season

May 23, 2011 16:07

The Russian importers are negotiating purchases of Icelandic frozen mackerel to be delivered to the world market in late July 2011 and August 2011, however the outlook for Russia is blurred by many factors coming into play, reports with reference to one major Russian importer.

In fact, the preliminary conclusion is that the product may not reach the Russian market eventually.

The thing is that in August-September 2010 the Japanese importers purchased trial lots of Icelandic mackerel which quality turned to be quite high. This year, Japan, hit by the earthquakes and tsunami, is deprived of the opportunity to take up its own quotas and is likely to replace the gap on the market by the Icelandic mackerel in summer months and by Norwegian one in November 2011.

As for the Russian market, the Icelandic exporters see prices for their frozen headed mackerel 200-400 as high as RUR 67.00-68.00 per kilo. This year the position of the Icelandic suppliers as to mackerel shipments to the world market have changed, not in favor of Russia. Now they have a good understanding of the market, their product is in good demand in many places and the Russian buyers are finding it ever more difficult to negotiate prices with the Icelandic suppliers. Moreover, apart from the Japanese market, Icelandic exporters can also supply whole round mackerel to Nigeria already from the end of July 2011. They can sell w/r mackerel to Nigeria at the same price that Russia is paying for the headed mackerel.

Thus, on the one hand, the fishing nations have large enough mackerel quotas and the prices should not rise, and on the other hand, attractive adjacent markets, uncovered quotas in Japan and late start of the fishing season in Scotland and Norway (the end of October 2011 at the earliest) can contribute to a price increase in 2011.

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