GLOBEFISH - European Price Report Jan 2022

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January 2022 1/2022

Latest trends Consumption of seafood is low in Europe at present, which is expected for this time of year. However, preparations for Chinese New Year mean strong demand from China, and this has prevented prices in Europe from falling too far. Restaurants were open in France during the end of year season in spite of the current COVID-19 resurgence, but increasingly the Omicron threat has seen restrictions reimposed in the restaurant industry. New measures are being introduced in January 2022 to limit Omicron contagion, including a stricter health pass based on full vaccination as well as remote working policies requiring a minimum of 3 days per week working from home. This will obviously have an impact on lunchtime dining in urban areas. As a result of the restaurant closures, stocks of many popular restaurant items, such as shrimp, cephalopods and lobster have gone unsold, leading to some downward pressure on price levels. Overall, prices are moving upwards. According to the French statistics institution (INSEE), annual consumer prices increased by 2.8 percent in December 2021. From a production perspective, raw material, energy, transports costs and labour costs have put many producers under pressure to raise prices.

GROUNDFISH Demand for wet-salted cod fillets from frozen raw material (Gadus macrocephalus), and the wet-salted cod fillets (Gadus morhua) from fresh raw material of Faroese and Icelandic origin reached its peak during the Christmas period, and demand has continued to increase despite continuing logistical issues. General stability is expected over the coming months, possibly with slight price increases.

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Index for prices

Groundfish

8

Flatfish

10

Tuna

11

Small Pelagics

11

Cephalopods

12

Crustaceans

14

Bivalves

15

Salmon

16

Trout

17

Freshwater fish

17

Non Traditional Species

17

Seabass-SeabreamMeagre

18

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.


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