Some results of fourth round of Russian pollock roe auctions in Busan

April 13, 2010 11:05
In the period from 6 to 8 April 2010 Busan (South Korea) hosted the fourth round of Russian pollock roe auctions, according to the overview prepared by analysts of ( based on Japanese and Russian sources.

The total volume of sales through the above mentioned three days amounted to a little more than 1500 tonnes, approximately twice down on the supply volume in the third round of seasonal auctions. The decline was mostly due to delayed calls of transport vessels bringing pollock roe from the Sea of Okhotsk as well as due to a definite lack of transport capacities.

According to some sources, the decrease of supply could be also attributed to the fact that the largest Russian producer of frozen pollock roe Polluks (from the Japanese point of view, the company controlling such large pollock quota holders as Okeanrybflot and Koryakryba). Polluks was actually expected to start trading at auction on 13-15 April 2010 (fifth round of auction sales) when the total supply might reach 5500 tonnes to become the highest result for the period from the start of the year. Some of the market specialists think that thanks to such a large supply volume and participation of the leading producer (according to some estimates, Polluks might offer ca.4500 tonnes of pollock roe for sale) the fifth round of auctions could define the general character of Russian auction sales in 2010 (in terms of product prices).

The main price result of the fourth auctions round again amounted to 7.00-9.00 USD per kilo ex-coldstore Busan. Under the sellers' conditions some of the products were sold at prices in Yen, though they were also within the above mentioned USD range. According to some sources, some product lots were sold at prices lower than 7.00 USD per kilo, but those lots were represented by products incompliant with strict requirements of the Japanese market. Besides, just like in the third round of auctions there were no sales at prices at 10.00 USD per kilo, which could be attributed mostly to a decline of the exchange rate of Yen to USD to 94-95 Yen.

As for the second round of seasonal auction sales of US pollock roe, it will be conducted from 20 to 22 April in Seattle. Therefore sales of US products will be carried out simultaneously with Russian pollock roe auctions in Busan if the Russian producers decide to continue their sales until the Golden Week in Japan (a holiday week from late April to early May). The current year may become completely unprecedented in terms of combination of periods of auction sales of frozen Russian and US pollock roe as earlier there have been no cases of simultaneous sales in Busan and Seattle and sales of Russian products prior to the US sales.

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