March 2023 3/2023
Latest trends Demand for seafood is slowing in the European market, as inflation is passed on to consumers. In a recent study on the impact of the Ukraine conflict on European Union consumer behaviour, it was found that 50 percent of the interviewed felt fish prices went up strongly. Fish was thus second only to red meat among all food products where such price increases were seen. As a reaction to these high prices, 30 percent of the respondents reported lower purchases of fish, 8 percent said they stopped buying fish altogether.
Index for prices
The traders started buying for the Holy Week, which is the first week of April this year. Prices continued to move up, despite limited demand. In this European Fish Price Report issue, some 32 percent of the fish prices moved up, 24 percent moved down, and 43 percent stayed stable. Shrimp and octopus are the main exceptions to the upward price spiral, reporting important price cuts. The container cost index has decreased by 3 percent in the first week of March and has dropped by 80 percent when compared with the same week last year. The index is USD 1 806 per 40-foot container, 83 percent below the peak of USD 10 377 reached in September 2021. It is even 33 percent lower than the 10-year average of USD 2 691, indicating a return to more normal prices, but remains 27 percent higher than average 2019 (pre-pandemic) rates of USD 1 420. basins. The Global Container Freight Index (FBX) quoted USD 2 214 on 27 January 2023 compared to USD 19 806 in January 2022. The current index is well below last year’s level but still much higher than pre COVID-19 levels which,
Groundfish
10
Flatfish
12
Tuna
13
Small Pelagics
14
Cephalopods
15
Crustaceans
17
Bivalves
19
Salmon
20
Trout
20
Freshwater fish
20
Non Traditional Species
21
Seabass-SeabreamMeagre
22
The European Fish Price Report, based on information supplied by industry correspondents, aims to provide guidance on broad price trends. Price information is indicative and should be used only for forecasting medium- and long-term trends. FAO is not responsible for any errors or omissions.