Sluggish sales on Moscow's seafood market in late February 2009

February 26, 2009 16:04

As per the fourth week of February 2009 seafood sales on Moscow's market have been sluggish, analysts of ( concluded after analyzing the current situation on the market.

The market activity is not high and the demand for the whole seafood range is flat.

Vietnamese media reports say that Russia's Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor) has promised to renew export licenses of 10 processing companies which have been already checked. Besides, the Russian side is reportedly going to approve another 15 plants after a new check. The Russian veterinaries have given no comments on the matter. Practically all the market representatives agree that after the ban for seafood import from Vietnam is lifted, product prices, in particular for pangasius, will considerably increase. The forecast proceeds also from such factors as increased USD exchange rate, decreased production in Vietnam, etc.

Analysts forecast possible decrease of tilapia prices. In 2008 the world production of tilapia decreased by 13% to 2.6 million tonnes. Decline of production in China has been caused by strong frosts and snowfalls in the country, which told on farmed tilapia output. According to some sources, tilapia production in China in 2009 will return to the volumes which were observed in 2008. Unfavourble economic climate on the market may encourage the Chinese exporters to push down the prices in order to boost the demand for their products both on the domestic market and in other countries.

As per the fourth week of February 2009 the capelin fishery has been running at full swing, according to Murmansk-based PINRO fishery research institute. The fishery has been complicated by stormy weather in the Barents Sea. The fishermen hope for good progressing of the season in March 2009.

In general, as per the end of February 2009 the market has been experiencing a kind of stagnation without any definite price trends. Different suppliers have been changing their prices in different directions. There is also a slight decline of prices for several sizes of herring, mackerel and capelin as well as for HGT hake. Large herring has been growing more expensive due to shortage of large herring on the market along with good supply of small herring.

The USD exchange rate has been showing downward trends before and after the New Year holidays, therefore those companies which have been trading in RUB equivalent of USD prices have not changed their prices or slightly decreased them according to conversion into RUB.

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