March 2022 3/2022
Latest trends The conflict between Russia and Ukraine is impacting the world market for seafood products. The recently imposed sanctions will lead to a disruption of many established trade routes. Among these is the trade of Russian Alaska pollack through China for processing, a product that is now prevented from being re-exported to the US or European market. For the time being, however, Russian exports of Alaska pollack to Chinese processing plants continue without delays. Meanwhile, seafood imported into Russia is becoming increasingly expensive for the consumer after the collapse of the Russia rouble. As a result, the market is likely to soon be supplied primarily by domestic production. For the European Union, high fuel costs are the most immediate negative consequence of the conflict. Fishing is becoming extremely expensive, recently prompting Italian fishers to strike for one week, impacting fresh fish supply to the market. Seafood prices are the rise for all species, including in the aquaculture sector, where increasing feed costs are applying pressure to margins.
GROUNDFISH Supermarkets in the United Kingdom of Great Britain and Northern Ireland have taken the decision to replace Russian groundfish with other products coming from Norway, Iceland and the Faroe Islands. This will inevitably have an impact on the supply situation, and has already sent Norwegian cod prices soaring.
1
Index for prices
Groundfish
7
Flatfish
9
Tuna
10
Small Pelagics
10
Cephalopods
11
Crustaceans
13
Bivalves
14
Salmon
15
Trout
16
Freshwater fish
16
Non Traditional Species
16
Seabass-SeabreamMeagre
17
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.