31/10/2015
4
Issue /2015
HIGHLIGHTS A QUARTERLY UPDATE ON WORLD SEAFOOD MARKETS JANUARY - JUNE 2015
S T A T I S T I C S
Tel.: (+39) 06 57054163 - Fax: (+39) 06 57053020 - Email: globefish@fao.org - Website: www.globefish.org
About GLOBEFISH GLOBEFISH forms part of the Products, Trade and Marketing Branch of the FAO Fisheries and Aquaculture Department and is part of the FISH INFOnetwork (see below). It collects information from the main market areas in developed countries for the benefit of the world’s producers and exporters. Part of its services is an electronic databank and the distribution of information through the GLOBEFISH European Fish Price Report, the GLOBEFISH Highlights, the GLOBEFISH Research Programme and the GLOBEFISH Commodity Updates. The GLOBEFISH Highlights is based on information available in the databank, supplemented by market information from industry correspondents and from six regional services which form the FISH INFOnetwork: INFOFISH (Asia and the Pacific), INFOPESCA (Latin America and the Caribbean), INFOPECHE (Africa), INFOSAMAK (Arab countries), EUROFISH (Central and Eastern Europe) and INFOYU (China).
This issue of GLOBEFISH Highlights has been prepared by Helga Josupeit, Shen Nianjun, Paola Sabatini, Anna Child and Turan Rahimzadeh with contributions by Shirlene M. Anthonysamy, Felix Dent, Eloisa Espinoza, Fatima Ferdouse, María Martí Fluxa, Erik Hempel, Rodrigo Misa, Marie ChristineMonfort, Shen Nianjun, Ferit Rad, and Katia Tribilustova. Helga Josupeit provided quality checks for all reports, Anna Child provided editing services and Turan Rahimzadeh was responsible for the layout. The Norwegian Seafood Council provided data support for the FAO Fish Price Index. GLOBEFISH Highlights is distributed to the subscribers of: INFOFISH Trade News, INFOPESCA Noticias Comerciales, INFOPECHE Nouvelles Commerciales, through EUROFISH and INFOYU. GLOBEFISH Highlights are also available in electronic form.
For subscription details please contact: GLOBEFISH, FIPM/FAO Tel: (39-06) 5705 4163 Viale delle Terme di Caracalla Fax: (39-06) 5705 3020 00153 Rome, Italy Email: globefish@fao.org
www.globefish.org All rights reserved. Reproduction and dissemination of material in this information product for educational or other non-commercial purposes are authorized without any prior written permission from the copyright holders provided the source is fully acknowledged. Reproduction of material in this informational product for resale or other commercial purposes is prohibited without written permission of the copyright holders. Applications for such permission should be addressed to the Chief, Electronic Publishing Policy and Support Branch, Communication Division, FAO, Viale delle Terme di Caracalla, 00153 Rome, Italy or by e-mail to copyright@fao.org © FAO GLOBEFISH 2015
Bibliographic reference: GLOBEFISH Highlights 2015 FAO/GLOBEFISH Highlights (4/2015): p. 56
A quarterly update based on the GLOBEFISH databank
1995-2015
20th Anniversary of the Code of Conduct for Responsible Fisheries
In the first half of 2015, global production of farmed shrimp was lower than the same time period last year, particularly with less than expected harvests in Asia. Production in Ecuador was higher during this period, with Viet nam as their top export market. p. 3
Mackerel and herring stocks in the North Atlantic are in good shape
The Russian import ban continues to have an effect on international trade, as Russian domestic landings are replacing imports, especially those from Iceland. p. 36
Fishmeal and fish oil prices continue to rationalize while a strong El Niño will impact the entire sector soon
The 2014 cancellation of the second anchovy fishing quota in Peru negatively impacted the production of both fishmeal and fish oil in the first six months of 2015 despite strong catches of pelagics in Iceland. p. 40
CEPHALOPDS
GROUNDFISH
TUNA
Low tuna catches worldwide have led to global price increases, despite moderate demand
During the third quarter of 2015, frozen skipjack prices increased strongly by almost 50%, but started to decline in October. For the first half of 2015, the sashimi tuna market in Japan remained weak. For the first time in history, US imports of air-flown fresh tuna were higher than that of Japan and this could become a common feature in the future as well. p. 9
Cod supplies expected to improve with sustained demand while outlook for hake is weak Cod and haddock quotas in the Barents Sea have been increased, which is likely to result in higher supplies of whitefish for next year. However, hake presents a mixed picture, with southern European and South American resources dwindling, while Gulf of Biscay European quotas will grow. p. 14
Squid landings on the decline, strengthening prices while octopus supplies easing
The closing of the squid season off the Argentine coast ended in disappointment. Landings were well below expected levels, which have put pressure on prices. In contrast, octopus supplies have improved and are expected to ease the supply situation over the next half year. p. 18
Drop in mussel and scallop trade, sales of oysters remain strong
In the first six months of 2015, international trade of both mussels and scallops experienced declines, though to differing degrees depending on the country. In most cases, this negative trade trend reflects a general decline in production, due either to bad weather or to adverse environmental changes). (ocean acidification). By contrast, international sales of oysters in the first half of 2015 have been strong. p. 43
Growing demand for lobster
the rise.
TILAPIA PANGASIUS BASS & BREAM
Supplies tighten from major producer
The largest producer of pangasius, Viet Nam, reported a marginal decline in production during the first half of 2015. Demand remains strong in the USA, the single largest market, as well as in Asia and Latin America. p. 24
Long-term profitability the top priority as supply growth halted
The Greek industry, which previously benefitted from significant EU investments, has struggled for cash flow in a difficult economic environment for some years now. p. 26
Demand for lobster is growing in China, and US exports are being diverted to this well-paying market. At the same time, supplies have been tight due to a difficult winter and a poor start to the season in the USA. Consequently, prices are on p. 47
Alaska‘s snow crab quota cut by 40%
Demand slows down, supplies adequate
While major suppliers experienced production problems in 2014, a growing volume of supplies are entering domestic markets in the major producing markets. pproximately 200 000 tonnes of tilapia entered the international market during the first half of 2015, a marginal decline compared with the same period in 2014. p. 22
SALMON
roblems are mounting for the Chilean farmed salmon sector, with prices now down at 2012 levels and production costs already well above other producing countries. Due to a range of different factors, demand for Chilean fish has suffered in all major markets and revenues are well down. In contrast, Norwegian farmers continue to enjoy high prices and resilient EU demand. p. 30
FISHMEAL & FISH OIL SMALL PELAGICS
Weak market prices persist in 2015 but import demand remains disappointing
Norwegian prices stay up but Chilean exporters facing serious challenges
BIVALVES
After years of rising seafood exports, global trade values are contracting in 2015. There are several reasons for this including the weakening of many key emerging markets, lower prices for a number of important species and the cancellation of the second anchoveta season in Peru in 2014,. However, the primary underlying cause of this decline is the strong gains of the US dollar versus multiple currencies. p. 2
LOBSTER
Global fish economy
expected to rise.
Recent surveys indicate a decline in the Alaska snow crab resource, prompting the Alaska Department of Fish and Game to reduce the quota for 2015-2016. But in northern Norway, the king crab fishery was off to a very good start in September. Prices are strong and US prices are p. 49
SPECIAL FEATURE Labour conditions in the fisheries and fish processing sector p. 51 Fish and fishery products statistics
p. 55
EVENTS 2015 - I International Fisheries Stakeholders Forum 20th Anniversary of the Code of Conduct (FAO)
p. 56
CRAB
SHRIMP
GLOBAL FISH ECONOMY
INSIDE THIS ISSUE...
GLOBAL FISH ECONOMY The FAO fish price index (100=2002-2004) 180 160 140 120 100 80 60
TOTAL AQUACULTURE
40
CAPTURE
20 0
Source: Norwegian Seafood Council
After years of rising seafood exports, global trade values are contracting in 2015. There are several reasons for this including the weakening of many key emerging markets, lower prices for a number of important species and the cancellation of the second anchoveta season in Peru in 2014. However, the primary underlying cause of this decline is the strong gains of the US dollar versus multiple currencies, particularly those of major seafood exporters such as the EU, Norway and China. Exchange rate developments have been one of the main influencing factors in global seafood markets this year. 2015 is still registering growing traded volumes as the upward trend in global fish consumption is continuing, but at a slower pace. Current projections put per capita consumption at 20.1 kg in 2015, 0.1 kg higher than 2014. The proportion of farmed fish in this total has increased once again this year, after overtaking that of capture fisheries in 2014. Global fish production is estimated to grow by some 2.6% this year, with a 5% increase in aquaculture production, in a continuation of the long-term trend. The USA has again been the top performing market for seafood so far in 2015, driven by good economic growth and significantly boosted purchasing power for importers. US buyers have also been able to avail of low prices for shrimp, tuna, Chilean salmon and tilapia. Demand in the EU is stable, while Japanese imports have been impacted by a weak yen. Major emerging markets, particularly Russia and Brazil, have also been affected by depreciating currencies and economic difficulties that have been supressing consumer spending. For Russia, there will be ongoing challenges to supply domestic seafood markets following the decision to extend the Russian food import embargo until early 2016. Of the large producing countries, Norway continues to benefit from good prices for cod and salmon despite the absence of the important Russian market, while Chinese processing of whitefish is down this year on lower catches. Despite a brief recovery in raw material prices in October, the tuna industry continues to see margins squeezed by excess catches by global tuna fleets, although low fuel prices are providing some relief in terms of costs. In the salmon market, there has been a sharp divergence in the revenues of Norwegian and Chilean exporters, as the latter has lost major supply contracts with 2
large retail chains in the USA who are increasingly looking to Norway and Canada to meet demand for farmed salmon. Shrimp producers, meanwhile, will be hoping that tighter supply this year will arrest and reverse a substantial decline in prices in 2015. For fishers of small pelagics, stocks of herring and mackerel are good in the North Atlantic, but the Russian trade ban continues to create some turbulence in the market. The FAO Fish Price Index was 6 points lower in June 2015 compared with the same month in 2014. Some of the most important traded species such as tuna, salmon and shrimp have all seen overall price declines this year. Some species have seen price increases, however, such as herring, cephalopods, oysters and scallops. Prices for fishmeal and fish oil remain at relatively low levels for the time being, but the approaching El Niùo is expected to affect anchoveta catches in South America and drive prices and production costs upwards once again, particularly given what is already a shortfall in supplies for the ever-growing global aquaculture sector. Another prominent issue that has been highlighted again this year is the growing awareness amongst consumers of sustainability and health aspects of the fish they buy, something that is set to increasingly demand the attention of all the players in the world’s seafood market.
World fish market at a glance 2013
2014
2015
estim.
fcast.
Change: 2015 over 2014
million tonnes
%
World balance Production
162.8
164.3
168.6
2.6
Capture fisheries
92.6
Aquaculture
70.2
90.0
90.6
0.7
74.3
78.0
5.0
136.1
143.5
129.8
-9.6
58.8
59.5
59.8
0.5
162.8
164.3
168.6
2.6
Food
141.0
144.6
147.5
2.0
Feed
16.8
15.0
16.4
9.7
5.0
4.8
4.7
-2.1
19.7
20.0
20.1
0.9
9.9
9.7
9.5
-2.2
Trade value (exports USD billion) Trade volume (live weight) Total utilization
Other uses
SUPPLY AND DEMAND INDICATORS Per caput food consumption Food fish (kg/year) From capture fisheries (kg/year) From aquaculture (kg/year) FAO FISH PRICE INDEX (2002-2004=100)
9.8
10.3
10.6
3.8
2013
2014
2015
Change*
148
157
145
-8.2
* Change Jan-Jun 2015 over Jan-Jun 2014 Totals may not match due to rounding. Globefish Highlights October 2015
SHRIMP Weak market prices persist in 2015 but import demand remains disappointing
I
n the first half of 2015, global production of farmed shrimp was lower than the same time period last year, particularly with less than expected harvests in Asia. Production in Ecuador was higher during this period, with Viet nam as their top export market. Shrimp prices plummeted by 15-20% in international trade compared with the first six months of 2014 as a result of the supply and demand disparity in the USA, the EU and Japan. For exports, India, Indonesia and Thailand managed to increase their volumes to the USA, albeit with plummeting export revenues. There were also higher imports to Viet Nam, the Republic of Korea and China during this period. compared with production in 2014. Exports have increased accordingly.
Shrimp production by species (2013) Akiami paste shrimp 11%
Others 32%
Southern rough shrimp 6% Argentine red shrimp 2%
Penaeus vannamei 42%
Source: FAO
Supply Farmed shrimp In Asia, the season that usually begins around April/May was very delayed this year. The extreme hot weather in India caused a three-month delay in the monsoon, causing non-viral disease in certain areas and affecting overall production volume. In India’s Andhra Pradesh, the country’s largest vannamei farming area, aquaculture production has been 30% lower during the first half the year. Harvests also remained lower than last year’s in Orissa but increased moderately in Gujarat, Kerala and West Bengal. According to industry sources, total Indian farmed shrimp could be anywhere from 10-20% lower in 2015 compared with 2014. Production in Viet Nam, China and Malaysia has been lower due to disease problems. However, for the first time since 2012, farmed shrimp production in Thailand recovered, reaching nearly 160, 000 tonnes during the January-September period. Total Thai production in 2015 is likely to be 250 00 tonnes, an increase of 35 000 tonnes Globefish Highlights October 2015
In China, shrimp disease surfaced frequently, taking its toll on shrimp aquaculture in the southern provinces of Hainan and Fujian. As a result, the shrimp growth rate has slowed down considerably, making production volume much lower than average. This coupled with falling market prices forced many farmers to raise alternative aquatic species. During the first six months of 2015, Vietnamese shrimp farmers reduced their stocking density by 30% to combat EMS and falling export prices. The industry association VASEP calculated a 1.6% decline in vannamei production during this period against the same period last year. Reportedly, large farms are doing well but production declined at the small-scale level. Local raw material shortages resulted in higher imports of shrimp for reexport and export processing, especially from as far away as Ecuador. Farmed shrimp production increased in Ecuador during the first half of the year due to early harvesting in May because of the EMS scare. Since July, farmers have opted for lower stocking density to reduce mortality. Beginning in late April, some farmers decided to emergency harvest and as a result, Ecuador’s shrimp production in May reached 30 000 tonnes compared with last May’s monthly average of 23 000 tonnes. The National Fisheries Institute in Ecuador however, denied the presence of EMS in the country. This year, supplies in Honduras and Nicaragua are being affected by EMS disease. In Mexico, the situation has improved, and farmed shrimp production has increased compared with last year
Wild-caught shrimp There was a marginal decline in cumulative landings of shrimp (-3.8%) in the US Gulf of Mexico during the first six months of 2015 compared with the same time period in 3
Shrimp
2014. Ex-vessel prices of all medium sized shell-on products weakened significantly.
Import and export trends
Exports increased from Thailand by 6% (70 562 tonnes) and also from Indonesia. In Viet Nam, VASEP reported a 17% drop in shrimp’s export value.
USA
In general, global demand for shrimp softened during the January–June 2015 period compared with the same time period in 2014. Stronger US dollar and weak export prices supported higher imports into the US market. Yet imports declined in other developed markets, notably in the EU, Switzerland, Japan, Australia and New Zealand compared with the same period last year. In Russia, the weak rubel and depressed economy sunk imports by a notable 64% during the reporting period. However, imports into the East Asian markets of China and the Republic of Korea increased for domestic consumption. In the global market, weaker shrimp prices during the first half of the year have taken a toll on export revenues in the major producing countries, although quantitatively exports have increased. Ecuador was the world’s number one shrimp exporter during the January-June period, as exports totaled 167 291 tonnes, demonstrating 15% volume growth compared with the same period last year. However, in value terms, exports fell by 13%. India held the second position, exporting 12% more than last year’s volume to total 160 957 tonnes.
The USA is the world’s single largest import market for shrimp. As such, it influences international shrimp prices significantly. During the first half of 2015, US importers paid 20% less for shrimp imports compared with last year but end consumers in the USA, particularly in the retail market, did not benefit much from this development due to the high priced inventory market. Outdoor dining improved during the summer holiday months (June-August) with greater demand for shrimp benefiting the restaurant trade. Lower import prices also induced higher imports during the first half of the year, even with more than sufficient stocks in the market. The US shrimp market remains oversupplied because of increased catches of domestic shrimp this year. Total shrimp supplies (imports plus US domestic landings) were about 8-10% above 2014’s figure. Meanwhile, wholesale buyers remained conservative, buying only on immediate orders. Wholesale prices in the US shrimp market remain largely unstable and at a low level due to several factors. First, demand is tight. In addition, wholesale buyers are wary
Imports Shrimp: USA Jan-Jun 2010 Product
1 000 tonnes
2011
million USD
1 000 tonnes
2012
million USD
1 000 tonnes
2013
million USD
1 000 tonnes
2014
million USD
1 000 tonnes
2015
million USD
1 000 tonnes
million USD
Peeled frozen
90.5
821.2
93.4
846.1
102.4
1 303.9
103.9
1 034.4
52.1
681.7
47.6
505.4
Other frozen
33.8
330.8
27.1
272.9
33.0
474.1
33.6
392.7
15.5
224.6
17.7
217.4
Breaded
18.4
125.1
16.4
109.2
19.8
176.1
23.4
182.9
10.5
95.7
11.7
94.7
1.3
7.3
1.1
6.4
1.1
6.5
1.1
6.3
0.5
3.0
0.5
3.1
Other prep. Headless shell-on frozen All sizes
94.7
777.1
84.3
772.5
90.2
1 065.4
103.1
978.7
47.6
588.1
55.2
554.5
< 15
8.4
123.1
7.2
112.2
6.4
119.3
9.1
158.8
3.9
72.2
5.5
95.8
15/20
8.7
87.3
6.4
69.1
6.8
100.9
9.7
118.3
3.6
54.6
5.2
68.9
21/25
11.9
104.2
12.7
129.3
12.9
171.2
16.2
160.4
7.4
101.3
8.3
88.5
26/30
14.8
123.6
14.4
134.5
14.6
182.4
16.1
148.7
8.5
109.4
8.0
79.2
31/40
17.7
128.8
16.4
136.5
15.7
176.8
20.4
173.8
8.9
102.9
11.4
101.6
41/50
11.8
79.7
11.8
89.5
11.9
120.8
13.3
98.6
5.7
59.1
7.1
54.4
51/60
10.2
65.0
8.1
56.3
10.7
102.0
9.4
65.3
5.1
49.8
5.2
37.6
61/70
6.3
39.0
4.1
26.8
6.2
54.5
4.8
30.0
2.4
21.7
2.4
15.9
> 70
4.7
26.6
3.1
18.3
4.9
37.5
4.1
24.8
2.1
17.2
2.0
12.7
Other products
1.2
7.8
1.5
19.5
1.3
15.0
3.0
28.0
0.8
11.3
2.3
13.8
239.8
2 069.3
223.9
2 024.8
248.6
3 041.1
268.1
2 623.0
127.1
1 604.5
135.1
1 389.0
Total Source: NMFS
4
Globefish Highlights October 2015
Shrimp Imports Shrimp: USA Jan-Jun 2010
2011
2012
2013
2014
2015
rebound completely according to industry sources. Distributors are still buying based on what is needed. Overall, inventories remain excessive, with the exception of wild larger sizes.
(1 000 tonnes) Indonesia
29.4
35.3
37.4
35.8
47.9
59.0
7.3
14.9
20.5
36.6
40.7
55.6
Ecuador
35.8
35.0
44.1
39.2
46.7
45.1
Thailand
81.4
77.0
60.0
41.0
26.2
31.2
India
Viet Nam
14.1
16.9
16.8
19.0
33.5
25.1
China
18.8
16.2
16.2
16.1
16.5
13.3
Mexico
10.5
6.7
10.8
7.4
4.7
8.6
9.1
9.2
10.9
8.4
7.2
6.8 6.0
Malaysia Peru
4.2
4.9
4.6
5.5
6.7
Guyana
4.3
4.0
6.1
4.8
4.0
4.4
Others
14.1
12.3
12.5
9.8
14.2
13.5
229.0
232.4
239.7
223.6
248.3
268.6
Total
Shrimp prices (16-20 count) in main wholesale markets, USA and Japan USD/lb
The US Department of Commerce (DOC) issued the final results of the ninth anti-dumping duty administrative reviews on frozen shrimp imported from Viet Nam, for the period of review from 1 February 2013 to 31 January 2014. DOC imposed an average anti-dumping duty of 0.91%, compared with 0.93% in the preliminary results announced in March 2015. This is much lower than the final result of period of review nine, which was 6.37%..
Japan
Source: NMFS
10
Trade developments in the USA
Gulf brown, New York
9 8 7 6 5 4
Even though Japanese shrimp imports have declined significantly over the years, Japan still remains the second largest importer after the USA. In 2015, Japanese shrimp consumption seems to have improved with supermarkets holding more promotional campaigns compared with the last two years. However, the weak yen could not support higher imports and supplies declined by nearly 8% during the first half of the year against the same period last year. Imports of both raw frozen and value-added shrimp reported declines in the first half of 2015, the former by 9% when compared with the first half of 2014.
Indian white, Tokyo Source: Infofish
3 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15
Source: Infofish
Imports Shrimp - Raw frozen tropical: Japan Jan-Jun
of the constant message from Thailand that the EMS issue has been solved and more shrimp will be able to come into the USA. During the first half of 2015, import volumes of shrimp into the USA increased by 8% to total 268 600 tonnes compared with 248 300 tonnes in 2014. However, the import value declined by nearly 15% at USD 2.6 billion during this period. Supplies of shell-on products increased from Ecuador, India and Indonesia. In the semi-processed raw tail-on category, and for value-added shrimp, Thailand was the top exporter with increased supplies this year. During the first half of 2015, US imports from Indonesia grew but declined from Viet Nam. Although US imports increased, the market is yet to Globefish Highlights October 2015
2010
2011
2012
2013
2014
2015
(1 000 tonnes) Viet Nam
16.3
13.0
14.1
14.8
12.3
13.0
Indonesia
15.7
15.1
15.1
16.6
10.5
11.8
India
9.1
8.1
10.1
11.9
7.5
8.1
Thailand
17.6
15.8
16.2
12.0
4.7
4.9
Argentina
0.9
2.3
3.7
4.8
8.9
4.3
Russian Fed.
4.4
4.4
3.8
3.7
3.9
3.6
China
5.5
7.1
6.5
5.3
4.6
3.1
Canada
3.4
2.9
2.9
2.0
2.6
2.4
Myanmar
2.1
2.6
2.4
2.2
2.1
1.8
Malaysia
3.1
4.5
3.5
2.5
1.5
1.3
Bangladesh
1.4
1.2
1.2
1.9
1.3
1.1
Greenland
2.2
1.9
1.5
2.0
1.6
0.9
Others
4.7
4.9
4.9
4.8
4.1
3.7
Total
86.4
83.7
85.8
84.6
65.4
60.0
Source: Japan Customs
5
Shrimp
Imports Shrimp (by product): Japan Jan-Jun 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Live
0.1
0.0
0.3
0.5
0.2
0.2
Fresh/chilled
0.0
1.0
-
0.6
0.1
0.3
Frozen. raw
86.4
83.7
85.8
84.6
65.4
60.0
Dried/salted/in brine
1.5
1.6
1.4
1.0
1.0
0.4
Cooked. frozen
9.7
9.8
11.3
11.9
9.5
8.5
Cooked & smoked
0.1
0.2
0.2
0.1
0.1
1.0
**
**
**
**
**
**
Prepared/preserved*
9.7
9.8
11.3
11.9
9.5
17.0
Sushi (with rice)
0.7
1.5
1.0
1.2
0.8
1.2
Total (incl. others) 119.8 * (incl. tempura shrimp )
120.4
123.1
122.2
94.0
86.9
Frozen ebi
Summer holiday demand for shrimp in July/August was strong for processed shrimp but retail sales of raw shrimp did not pick up much due to the extremely hot weather. Japanese supermarkets are likely to continue promotional campaigns during their year-end sales as shrimp prices remain below levels within the past two years.
EU During the first quarter of the year, EU total shrimp imports increased marginally but took a dip again by the middle of the year. During January-June 2015, both
Imports Shrimp: Spain Jan-Jun 2010
2012
2013
2014
2015
(1 000 tonnes)
Source: Japan Customs/INFOFISH
IMPORTS
Imports/Export Shrimp: EU-28
Argentina
8.3
14.4
11.4
11.1
12.9
16.6
Ecuador
8.3
15.4
13.5
10.7
14.1
11.6
China Jan-Jun 2010
2011
2011
2012
2013
2014
2015
(1 000 tonnes) IMPORTS
10.1
11.6
9.4
7.9
6.3
9.0
Morocco
2.2
2.3
2.2
1.9
2.4
2.0
Nicaragua
0.9
1.0
1.5
1.3
2.0
2.0
Others
24.9
28.3
20.0
19.2
20.0
19.5
Total
54.6
72.9
58.0
52.1
57.8
60.7
Italy
4.9
8.9
7.1
7.6
5.5
7.5
Portugal
3.5
3.5
3.8
3.4
4.4
4.1
EXPORTS
Ecuador
37.0
48.6
44.2
41.6
46.3
42.8
India
27.1
29.0
26.3
29.8
41.0
37.8
Argentina
11.5
17.9
13.9
14.9
17.7
23.1
France
3.2
3.0
4.5
3.3
2.4
2.8
Greenland
31.8
34.7
28.4
30.4
28.3
22.4
Others
1.5
2.6
2.9
2.7
3.1
3.4
Viet Nam
15.3
20.3
15.5
14.9
19.2
21.9
Total
13.1
17.9
18.3
17.0
15.4
17.8
Denmark
24.7
22.4
19.8
23.0
22.0
19.3
Source: Agencia Tributaria
Netherlands
18.0
22.0
20.1
16.4
17.0
17.1
China
17.7
20.1
18.0
15.9
11.9
15.2
Bangladesh
16.8
17.5
15.7
15.8
14.4
14.5
Canada
14.3
14.1
16.5
11.8
12.5
13.5
Spain
10.3
10.1
12.8
10.7
10.8
11.8
Morocco
7.0
7.2
7.2
6.0
7.6
10.5
Belgium
10.9
13.8
11.2
10.6
11.3
9.4
2013
2014
2015 17.4
UK
5.6
5.5
4.8
5.5
5.5
6.5
Indonesia
11.0
10.3
5.8
5.4
7.3
6.2
Thailand
28.7
28.6
24.9
16.8
7.5
4.9
Others
68.8
66.1
62.3
56.7
59.8
52.7
356.8
388.0
347.2
326.2
340.1
329.6
Total Intra Imports
92.4
98.4
88.2
85.8
85.9
81.5
Total Extra Imports
264.4
289.6
259.0
240.4
254.2
248.1
Grand Total
EXPORTS
Imports Shrimp: France Jan-Jun 2010
2011
2012
(1 000 tonnes) 12.3
12.9
13.7
16.8
16.1
India
Ecuador
5.9
5.9
6.3
6.6
7.7
6.8
Viet Nam
2.6
2.3
2.1
2.2
3.5
3.7
Netherlands
2.8
3.0
3.3
3.4
2.8
2.5
Bangladesh
2.3
2.5
1.8
2.6
1.6
1.7
Madagascar
3.1
2.8
2.9
2.6
2.3
1.6
Venezuela
1.8
1.7
2.8
2.8
3.3
1.4
Spain
2.7
2.2
2.8
2.0
1.8
1.4
Grand Total
168.3
180.6
158.0
150.4
148.7
145.5
Others
19.3
15.6
14.8
10.7
9.4
13.3
Total Intra Exports
122.1
136.9
121.5
116.7
115.0
109.8
Total
52.8
48.9
50.4
49.8
48.6
49.8
Total Extra Exports
46.2
43.7
36.5
33.7
33.7
35.7
Source: EUROSTAT
6
Source: Direction Nationale des Statistiques du Commerce ExtĂŠrieur â&#x20AC;&#x201C; DNSCE
Globefish Highlights October 2015
Shrimp Imports/Exports Shrimp: China
Imports Shrimp: Italy
Jan-Jun
Jan-Jun 2010
2011
10.6
11.0
2012
2013
2014
2015
10.8
8.8
2010
2011
9.5
9.3
2013
2014
2015
(1 000 tonnes)
(1 000 tonnes) Ecuador
2012
IMPORTS
Argentina
2.8
3.0
1.9
2.6
3.0
3.7
Canada
5.0
5.3
7.5
6.4
7.4
9.2
Spain
2.4
3.0
3.6
4.0
3.0
3.6
Thailand
6.1
3.2
4.6
4.9
3.7
5.5
India
2.9
3.3
2.5
2.6
3.5
3.3
Ecuador
0.8
2.1
1.7
3.7
5.7
2.7
Netherlands
2.0
2.6
2.1
1.1
1.8
2.9
India
1.0
1.3
1.3
3.0
2.6
2.7
Argentina
0.1
0.3
0.8
1.6
2.3
2.7
Denmark
2.3
2.1
1.3
1.7
2.2
1.6
Viet Nam
1.0
1.2
0.5
0.9
1.1
1.1
Greenland
4.5
2.4
1.7
2.6
2.3
2.3
Others
7.0
7.0
4.5
4.8
4.2
3.9
31.0
33.3
25.9
26.9
29.8
28.9
Others
7.8
9.5
6.2
5.4
8.2
8.5
25.3
24.2
23.8
27.7
32.1
33.6
Total Source: ISTAT
Total EXPORTS
Imports Shrimp: UK 2011
2012
16.9
14.2
15.4
15.6
14.8
14.3
17.9
35.5
21.1
15.1
15.6
12.5
8.6
10.5
7.8
12.6
9.7
7.9
Republic of Korea
9.6
12.5
14.8
10.4
5.6
6.8
Spain
9.3
9.2
8.7
8.2
6.2
6.6
Hong Kong SAR
Jan-Jun 2010
USA Japan
2013
2014
2015
(1 000 tonnes) India
3.4
3.5
3.7
4.2
5.3
5.0
Malaysia
9.2
8.8
12.2
19.5
10.2
6.5
Canada
3.1
3.4
3.8
2.8
3.3
4.2
Taiwan
3.6
4.2
5.0
5.9
5.2
4.1
Viet Nam
2.2
2.9
2.4
2.4
2.4
3.4
Australia
3.9
3.0
4.9
3.6
6.2
3.3
Denmark
4.6
4.0
3.3
3.9
3.4
3.2
Canada
4.6
2.7
5.4
2.5
2.8
3.3
Bangladesh
2.8
3.0
2.9
3.7
3.8
3.0
Mexico
5.4
5.2
3.7
4.4
3.9
2.7
Indonesia
3.5
3.7
1.6
2.0
2.1
2.4
Russian Fed.
5.6
4.7
5.7
6.0
3.9
1.3
Thailand
6.5
8.1
9.4
7.1
3.4
2.3
Others
Iceland
3.5
2.7
2.7
1.9
2.3
1.2
Total
Others
6.8
7.4
7.9
7.0
7.0
8.1
Source: China Customs
36.3
38.7
37.8
35.0
33.0
32.8
Total
14.7
15.6
15.3
18.4
13.8
10.5
109.2
126.1
120.1
122.2
97.9
79.8
Source: Her Majesty’s Revenue & Customs
Asia/Pacific intra- and extra-EU imports of shrimp fell below the same period last year, which marketers say is a result of sufficient stocks in the weak consumer market. Among the top suppliers of tropical shrimp, exports declined from Ecuador (-10%) and India (-8%) but increased from Viet Nam (+15.5%). Imports of cold-water shrimp increased significantly from Argentina (+27.4%) but fell from Iceland due to the supply factor. In the individual EU market, there were higher imports in Spain, France, Sweden, Portugal, Poland and Greece. Outside of the EU, the Swiss and Norwegian markets imported less during January-June 2015 compared with the same period last year. Russia imported only 9 500 tonnes of shrimp during this period, a 64% reduction compared with this period in 2014. Imports of tropical shrimp suffered while imports of cold water shrimp from Greenland were significantly higher at 4 179 tonnes. Globefish Highlights October 2015
When comparing the first half of 2015 year-on-year, there were mixed import trends in the Asia/Pacific shrimp market. In the developed markets, Australia and New Zealand imported less, by -25% and -17% respectively. China’s imports were slightly higher (+5%) due to reduced domestic production. Imports into the non-producing market of the Republic of Korea increased moderately by 10% at 31 000 tonnes; Hong Kong SAR’s imports were stable at 23 000 tonnes. Malaysia imported 8% more as local production of farmed shrimp suffered due to EMS. According to data from exporting countries, Viet Nam imported more than 100 000 tonnes of shrimp during January-June this year, which is 68% higher than compared with last year’s period. Viet Nam was the number one export market for Ecuador during the first half of the year, while for India, it was the second largest export market after the USA.
7
Shrimp
The weakening of average import prices in Asia has been lower (5-15%) than that in western markets. Indeed, retail prices of shrimp in East Asian markets have remained high since the beginning of this year. Malaysia is an important market for shrimp in Southeast Asia where retail prices of fresh vannamei were almost 50% higher in August compared with the same month in 2014. More so, the devaluation of the national currency in Malaysia by almost 30% has made imports more expensive from neighbouring countries.
Indian farmers are being conservative in pond stocking and the next harvest season will be in December, with supplies expected to decline. The seasonal wind down will also reduce production in China and Viet Nam.
Outlook
In Ecuador, lower shrimp volumes were expected from the September harvest, as many farmers have opted for low density stocking. As a result, prices may bottom out in the short-term. However, the US market is holding significant supply and importers seem to be less aggressive. Lower inventory in Europe may generate limited demand for year-end sales.
In India, vannamei shrimp prices began strengthening in October for some sizes. Large sizes are in short supply.
Even with falling supply, the shrimp market is likely to remain demand driven until the end of the year.
SHRIMP IMPORTS IN VOLUME BY EU COUNTRIES, USA AND JAPAN - JAN-JUN (IN TONNES) Tonne Comparison to 2014, in %
800 000 750 000 700 000 650 000
JAPAN
JAPAN
JAPAN
600 000
JAPAN
-7%
JAPAN
JAPAN
USA
USA
EU 28 (intra)
EU 28 (intra)
550 000 500 000 450 000
USA
USA
8 USA
400 000 350 000 300 000
EU 28 (intra)
EU 28 (intra)
EU 28 (intra)
250 000
USA
EU 28 (intra)
-3%
200 000 150 000 100 000
EU 28 (extra)
EU 28 (extra)
2010
2011
EU 28 (extra)
EU 28 (extra)
EU 28 (extra)
EU 28 (extra)
2012
2013
2014
2015
50 000
SHRIMP IMPORTS IN VALUE BY EU COUNTRIES, USA AND JAPAN - JAN-JUN (IN '000 USD) '000 USD
8 000 000 7 500 000 7 000 000 6 500 000 6 000 000 5 500 000 5 000 000 4 500 000 4 000 000 3 500 000 3 000 000 2 500 000 2 000 000 1 500 000 1 000 000 500 000
Comparison to 2014, in %
JAPAN
JAPAN
JAPAN USA
USA
USA
USA
USA
EU 28 (intra)
EU 28 (intra)
EU 28 (extra)
EU 28 (extra)
EU 28 (extra)
2011
2012
2013
USA EU 28 (intra) EU 28 (intra)
2010
8
JAPAN
JAPAN
EU 28 (extra)
-18% JAPAN
EU 28 (intra)
-14%
EU 28 (intra)
-15% EU 28 (extra)
2014
EU 28 (extra)
2015
Globefish Highlights October 2015
TUNA Low tuna catches worldwide have led to global price increases, despite moderate demand
D
uring the third quarter of 2015, frozen skipjack prices increased strongly by almost 50%, but started to decline in October. For the first half of 2015, the sashimi tuna market in Japan remained weak. For the first time in history, US imports of air-flown fresh tuna were higher than that of Japan and this could become a common feature in the future as well. For canned tuna, export earnings suffered in Asia and Latin America during the first six months of the year, as traditional markets in the USA and EU remained lackluster. Import growth only persisted in the Middle Eastern markets. Tuna prodution by species (2013) Pacific bluefin tuna 1%
Others 8%
Atlantic bluefin tuna 0% Longtail tuna 4%
Skipjack tuna 55%
Bigeye tuna 8% Yellowfin tuna 24% Source: FAO
Supply Lower worldwide tuna catches in the main fishing regions led to rising prices in the international market during the third quarter of 2015. Indeed, the delivery price of frozen skipjack from Western Pacific to Thailand increased from USD 900 per tonne in June to USD 1 450 per tonne in September this year. This strengthening price trend was bolstered by the World Tuna Purse Seine Organization’s decision to reduce fishing efforts by 35% from 15 May to 31 December 2015 in an effort to stop prices from weakening. In addition, there was a four-month long FAD fishing closure in Western and Central Pacific implemented from July to October 2015.
Fishing was average in the Indian Ocean with raw material inventories at local canneries reported to be at healthy levels. Prices increased in Abidjan, which were lagging behind other markets; more competitive prices of raw material led to higher exports to the European markets. In the Eastern region of the Indian Ocean, lower catches of bait fishery (mackerel) in the Maldives have affected the country’s pole and line based tuna fishery during the first half of 2015 with reduced landings reported. In Japan, total tuna landings was marginally lower (0.6%) to total 72 172 tonnes during January-March 2015 compared with the same period last year. However, there was a substantial rise in fresh tuna landings (+64%) from the coastal waters. During this same time period, frozen tuna landings from the distant water fishery fell by nearly 11% to 56 679 tonnes, primarily due to lower landings of skipjack and albacore tuna.
Coldstorage holdings Tuna: Japan 120
1000 tonnes
100
Others
80
60
Skipjack
40
Albacore Bigeye
20
Yellowfin
In the Eastern Pacific, landings have decreased due to a general slowdown in fishing and the IATTC ‘veda’ closure that ended on 28 September 2015. Local canneries were holding moderate inventories of raw material. Tuna prices in Ecuador stabilized between USD 1 250-1 400 per tonne as a result of low demand for canned products in the import markets. Canned tuna producers in South America are also uncertain about the potential consequences of the devaluation of various currencies versus the dollar, which makes exports from Ecuador more expensive.
Globefish Highlights October 2015
0 2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Source: INFOFISH
Non-canned tuna markets (fresh and frozen) USA Favourable summer weather helped to bolster strong demand for fresh and frozen tuna steaks/fillets in the US market this year, particularly at the household level for outdoor cooking. Retail prices of fresh tuna steaks, 9
Tuna
generally originating from Pacific waters, ranged from USD 10.00-16.00 per pound in US supermarkets this summer with demand highest on the West Coast. During the first half of 2015, US imports of fresh/chilled tuna were higher than Japan, coming to a total of 11 300 tonnes. In comparison, Japan imported only 8 401 tonnes of fresh tuna during the same period.
Imports Fresh tuna: USA Jan-Jun 2010
2011
2012
Yellowfin
8.1
8.3
8.3
Bigeye
2.5
1.5
Albacore
0.2
0.3
Bluefin
0.3
S. Bluefin
0.0
2013
Total
Jan-Jun 2010
2011
2012
2013
2014
2015
Bigeye
41.6
32.1
42.2
41.2
38.8
36.6
Yellowfin
24.8
22.7
28.4
20.2
20.6
19.2
Skipjack
32.5
20.4
15.8
8.5
10.6
21.1
Albacore
7.5
9.4
6.0
7.9
6.5
6.4
(1 000 tonnes)
S. Bluefin
1.2
0.5
0.6
0.7
0.6
0.4
N. Bluefin
0.9
1.6
0.3
0.3
0.3
0.0
108.5
86.6
93.0
78.5
77.1
83.7
2014
2015
8.0
8.9
7.7
Source: Japan Ministry of Finance
2.0
2.0
1.9
2.4
0.4
0.4
0.4
0.4
0.2
0.2
0.3
0.4
0.4
0.0
0.0
0.0
0.0
0.0
remains stronger than for fresh tuna due to frozen tuna’s longer shelf life. Nonetheless, imports of the preferred bigeye and yellowfin frozen tuna during the first half of the year were lower than compared with the same period in 2014, reflecting the falling demand pattern in the world’s largest sashimi tuna market.
Total
(1 000 tonnes)
Others
Imports Frozen tuna: Japan
0.2
0.2
0.2
0.3
0.2
0.4
11.3
10.5
11.1
11.0
11.8
11.3
Source: NMFS
However, total US imports of fresh/chilled tuna were marginally low (-3%) during the first six months of the year due to reduced catches of yellowfin tuna in the Pacific and Indian Oceans. The main suppliers to the US market were Trinidad and Tobago, Sri Lanka, Maldives and Thailand. Notably, US imports of higher value fresh bluefin and bigeye tuna increased during the first half of 2015, compared with the same period last year.
Extra-EU imports of fresh tuna during the first half of the year declined from 2 056 tonnes in 2014 to 1 099 tonnes in 2015. Among the total, yellowfin was the main species group (1 549 tonnes) largely supplied by the Maldives (65%). Imports of frozen tuna loins/fillet, however, increased from 7 007 tonnes during the first half of 2014 to 8 397 tonnes during the same time period this year. The top three suppliers were Viet Nam (2 020 tonnes ), the Republic of Korea (1 855 tonnes) and Ecuador (1 069 tonnes).
Japan Examining half yearly trade trends in the past six years, imports of fresh tuna into Japan have declined by a notable 50%. From 17 000 tonnes during the first half of 2010 to just 8 400 tonnes in the corresponding period this year. Consumption of fresh tuna is declining both at home and in the restaurant trade in Japan. The market preference for sashimi quality frozen tuna
Imports Fresh/chilled tuna: Japan Jan-Jun 2010
2011
2012
2013
2014
2015
Bigeye
5.8
5.6
6.6
5.6
4.9
3.2
Yellowfin
7.9
7.6
6.5
5.1
4.1
2.7
(1 000 tonnes)
Bluefin
2.2
1.2
1.6
2.3
2.4
1.8
S. Bluefin
0.8
0.6
0.7
0.9
0.6
0.6
Skipjack Total Source: INFOFISH
10
0.0
0.0
0.0
0.0
0.0
0.0
16.7
15.0
15.4
13.9
12.0
8.4
RECENT
NEWS
Pacific Tuna Forum 2015
T
he fifth Pacific Tuna Forum was held in Nadi, Fiji from 22-23 September 2015. The event was jointly organized by INFOFISH, the Ministry of Fisheries and Forests in Fiji and the National Fisheries Authority of Papua New Guinea, centered on the theme of “Achieving optimal economic benefits through sustainable tuna management and development”. Approximately 250 delegates from 32 countries within the Pacific and beyond attended the event. The forum was officially opened by the Honourable Osea Naiqamu, Minister of Fisheries and Forests of Fiji and the Honourable Mao Zeming, Minister of Fisheries and Marine Resource of Papua New Guinea, also addressed the event. The forum featured 34 presentations by 33 renowned speakers, who deliberated on issues related to resources and supply, the tuna industry in the Pacific island countries, investment opportunities, global tuna trade and markets, sustainability, ecolabelling and technological developments. The sixth Pacific Tuna Forum will be held in Papua New Guinea in 2017. Source: INFOFISH Globefish Highlights October 2015
Tuna
Canned tuna
1.17 billion during the same period in 2014.
Worldwide
As of this writing, the most recent trade data from Ecuador was available only for January to May 2015, demonstrating a 9% decline in canned and cooked tuna export volumes compared with the same period in 2014 to total 70 808 tonnes. However, import data from the main markets demonstrated an increase in shipments to the EU (+21%) and a 30% rise in shipments to the USA.
Following a decade-long trend, the top six largest import markets for canned tuna during the first half of the year were the USA, Spain, Italy, France, the UK and Egypt. Import trends among these importers were mixed. The USA, Italy and France reported declining imports, whereas imports increased in the other three markets. Total EU imports of prepared tuna (canned tuna and cooked loins) from non-member countries remained stable during this period. In terms of exports, Thailand, Ecuador, Spain, the Philippines and China were the leading five suppliers of canned/prepared tuna to the international market. Exports declined from all countries except China.
Thailand The declining export trend for canned/processed tuna continued in Thailand during the first half of 2015. Export volumes weakened by -8.3% compared with the same period in 2014. There were reduced exports to the EU, the USA, Japan and Australia. Supplies increased to Egypt and to the Middle Eastern markets of Saudi Arabia, the United Arab Emirates (UAE), Oman, Qatar as well as to Brazil (+26%) and Panama. Thailand’s total export value of canned/processed tuna during the first half of 2015 declined by 18% to total USD 1 billion compared with USD
Exports Canned tuna: Thailand
Among the other leading producers and exporters of canned tuna in the first half of 2015, exports from Spain fell by 0.61%, by 30% from the Philippines and by 8.5% from Mauritius. China exported more cooked loins and canned tuna during this period with total exports increasing by 5% to 37 261 tonnes compared with January-June 2014. There was a significant 76% rise in cooked loins exports from China to Portugal but exports to Spain fell 55% against the same period last year. There were higher exports of canned tuna from China to Russia, Cuba and Chile.
USA Imports of both canned and pouched tuna into the USA were lower in the first half of this year indicating a fall in consumer demand. Canned and pouched tuna imports totaled 99 862 tonnes, a drop of 5% compared with the 104 822 tonnes imported during the same period last year. Thailand remained the top source but with a 13.6% fall in supply, followed by China (+7%), Ecuador (+30%), Viet
Imports Tuna loins (cooked): USA Jan-Jun
2010
2011
2012
Jan-Jun
2013
2014
2015
2010
2011
0.0
2.0
5.8
(1 000 tonnes)
2012
2013
2014
2015
5.2
10.4
12.5
(1 000 tonnes)
USA
59.8
53.3
37.2
36.0
37.8
27.4
Egypt
25.2
21.9
20.1
10.3
11.1
19.2
Thailand
13.2
14.2
8.6
13.3
14.5
8.4
Australia
20.6
23.6
16.0
15.9
17.3
16.3
Fiji
6.3
4.2
4.0
5.7
4.5
5.8
Japan
11.6
14.8
13.5
14.5
13.2
13.4
Mauritius
2.3
3.4
2.9
4.7
4.7
4.1
Canada
14.4
16.9
12.8
13.2
12.6
11.1
Ecuador
0.1
0.0
1.3
0.7
0.3
0.8
Saudi Arabia
12.0
10.2
10.9
9.1
9.3
10.5
Trinidad & Tobago
4.2
3.2
0.0
0.0
0.0
0.0
Libya
11.1
4.2
15.8
13.8
19.4
10.1
Others
7.3
4.9
8.2
6.0
3.5
2.8
4.9
4.6
5.4
4.6
5.1
6.9
Total
33.5
31.9
30.8
35.6
37.9
34.4
*
*
*
3.1
5.9
5.6
Source: NFMS
6.2
16.0
2.3
6.1
4.1
5.3
Chile
*
*
*
4.6
6.9
4.4
Netherlands
*
*
*
*
3.4
3.7
Yemen
*
*
*
4.9
4.0
3.0
France
*
*
*
*
3.2
2.7
Argentina
*
*
*
*
2.7
2.7
New Zealand
*
*
*
*
2.2
1.9
Syria
*
*
*
4.4
4.3
1.6
Tunisia
*
*
5.8
5.4
3.6
1.5
Others
108.9
104.6
63.4
60.1
50.1
51.0
Total
274.7
270.1
203.2
206.0
216.2
198.3
South Africa Papua New Guinea UK
Source: Thai Customs
* included under “others”
Globefish Highlights October 2015
China
Imports Tuna pouches: USA Jan-Jun 2010
2011
11.7
9.6
2012
2013
2014
2015
10.5
9.0
(1 000 tonnes) Thailand
9.6
10.3
Ecuador
6.5
5.8
5.5
7.0
6.5
7.2
Others
4.0
3.3
2.4
1.8
4.7
4.4
22.2
18.7
17.5
19.1
21.7
20.6
Total Source: NFMS
11
Tuna
Nam (-4%) and the Philippines (-4%). Compared with the same time period last year, there was a 20% increase in cooked loin imports from China during the reporting period.
Imports Canned tuna (excl. pouches): USA 2011
56.0
51.5
2012
China
32.9
2013
2014
2015
43.2
47.4
44.2
2.8
4.1
4.3
5.5
14.1
14.8
11.5
12.0
10.5
10.2
9.4
9.5
Philippines
11.1
14.1
11.8
9.0
7.7
7.2
Indonesia
8.3
6.3
4.9
4.9
4.7
5.7
Others
3.5
5.7
4.4
3.9
16.4
17.5
93.2
93.6
68.8
76.7
99.7
98.9
Total
* including loins
During January-June 2015, extra-EU import volumes of canned and processed tuna increased marginally by .06% but in value-terms declined by -18% compared with the same time period in 2015. In terms of the total supply from third countries, imports increased marginally from Ecuador, the top supplier, to total 51 258 tonnes. This increase could be attributed to higher imports of cooked loins by Spain and Italy. Imports from Thailand declined by 33% to total 24 208 tonnes but increased by 26% from Indonesia ( 12 795 tonnes) and by 17% from Papua New Guinea compared with the same period last year. There
Imports Tuna loins: Italy Jan-Jun 2011
2012
2013
2014
2015
(1 000 tonnes) Indonesia
-
-
0.1
0.5
2.1
5.1
Ecuador
5.1
5.5
5.0
6.0
3.0
3.5
Solomon Islands
1.8
2.0
1.9
1.5
2.7
3.5
Thailand
4.4
3.2
4.8
2.7
3.5
1.6
Kenya
1.0
1.9
1.3
1.6
2.1
1.6
Philippines
0.0
0.0
0.2
1.8
2.1
1.5
China
2.2
2.3
1.5
1.6
1.0
1.1
Côte d'Ivoire
1.1
0.3
0.0
0.0
0.1
0.7
Mauritius
2.2
0.7
1.5
1.0
1.0
0.6
Colombia
0.2
1.5
0.6
0.4
0.9
0.5
Papua New Guinea
0.2
0.3
0.7
0.6
0.3
0.5
Spain
0.1
0.1
0.1
0.2
0.6
0.4
Others
1.3
1.5
0.6
1.7
3.1
1.1
19.6
19.3
18.1
19.1
20.4
21.7
Total Source: Eurostat
12
2012
15.0
12.9
11.1
4.5
4.0
4.2
2013
2014
2015
10.9
8.3
15.4
3.7
2.3
2.9
Mauritius
2.4
6.6
4.1
2.1
2.1
2.4
El Salvador
4.5
2.9
2.7
3.2
2.8
2.7
Papua New Guinea
0.9
1.5
2.4
4.0
2.2
3.5
Philippines
0.0
0.0
0.0
0.5
2.0
1.2
China
2.2
3.1
1.6
5.0
4.9
7.8
Indonesia
0.0
0.8
2.0
1.6
0.8
0.9
Madagascar
0.1
0.4
0.3
0.0
0.0
0.6
Thailand
4.9
10.6
2.1
4.5
7.2
1.8
Others
1.9
1.9
2.0
0.6
1.8
3.5
36.3
44.6
32.6
36.0
34.4
45.9
2011
2012
2014
2015
Total
Source: Agencia Tributaria
EU
2010
2011
Guatemala
Viet Nam
Source: NFMS
2010
(1 000 tonnes)
(1 000 tonnes) Thailand
Jan-Jun
Ecuador
Jan-Jun 2010
Imports Tuna loins: Spain
Imports Canned tuna: UK Jan-Jun 2010
2013
(1 000 tonnes) Mauritius
11.6
11.4
13.6
11.0
10.3
9.7
Seychelles
6.0
7.2
6.9
7.1
6.3
8.2
Thailand
6.5
13.1
5.4
8.6
5.4
6.4
Ghana
9.8
7.3
6.8
6.4
5.1
6.3
Philippines
8.2
6.0
5.5
5.2
6.6
4.4
Ecuador
2.4
5.8
4.7
4.5
4.6
3.9
Indonesia
0.9
1.2
2.6
3.9
2.8
3.7
Spain
0.8
2.8
3.2
3.1
1.9
3.2
Papua New Guinea
0.8
0.7
0.7
1.9
2.8
2.5
France
1.2
0.6
0.6
1.3
1.0
1.3
Others
2.5
3.5
2.4
3.3
2.4
3.5
50.7
59.6
52.4
56.3
49.2
53.1
Total
Source: Her Majesty’s Revenue & Custom
was a 35% rise in exports from Côte d’Ivoire to the EU market during this period. Imports of cooked loins into the EU fell by 5% in the first half of 2015 compared with the same time period last year, with cooked loins taking a 29% share of total processed tuna imports into the EU. The shares of skipjack and yellowfin in total cooked loin imports during JanuaryJune 2015 were 45% and 17% respectively. Spain, Italy, France and Portugal are the main re-processors of cooked loins in the EU. During January-June, imports increased significantly in the Spanish market (+33%) as well as in Italy compared with the same period last year. Indonesia emerged as the leading supplier of cooked tuna loins in the Italian market. Globefish Highlights October 2015
Tuna Imports Canned tuna: Germany
Imports Canned tuna: Italy Jan-Jun
2010
2011
7.7
8.6
2012
Jan-Jun
2013
2014
2015
7.4
11.1
2010
2011
21.6
25.2
(1 000 tonnes) Philippines
7.7
6.5
2012
2013
2014
2015
28.4
22.5
(1 000 tonnes) Spain
23.3
18.9
Papua New Guinea
5.6
4.7
5.9
4.7
4.2
5.6
Côte d'Ivoire
2.9
2.2
4.6
3.7
3.2
4.7
Netherlands
2.4
3.6
2.9
2.7
4.1
5.6
Colombia
5.3
5.6
4.7
3.5
4.9
3.4
Ecuador
5.0
5.1
3.9
7.1
5.9
5.0
Seychelles
3.1
2.7
3.1
4.6
4.4
3.1
Viet Nam
1.6
2.7
2.8
4.0
4.4
4.7
Mauritius
2.0
2.0
2.8
2.9
3.3
3.0
Spain
0.5
0.4
2.7
3.9
2.4
3.2
Ecuador
3.0
2.3
1.8
3.1
4.4
1.5
Thailand
2.4
1.9
1.5
3.1
1.4
2.8
Portugal
0.5
0.8
1.0
1.1
0.9
1.1
Indonesia
3.1
4.2
3.1
2.0
1.9
2.1
El Salvador
0.2
0.4
0.3
0.5
0.6
0.9
Seychelles
1.9
1.0
0.1
0.3
0.2
0.0
Thailand
1.6
1.5
1.2
1.0
0.5
0.6
Others
1.6
3.9
2.6
3.8
3.9
3.3
France
0.3
1.0
0.5
0.1
0.0
0.1
31.8
36.1
33.1
38.1
35.8
43.4
Others
1.0
1.2
1.1
1.6
2.1
2.7
41.4
44.8
44.4
41.0
52.7
43.6
1.3
1.5
0.6
1.7
3.1
1.1
19.6
19.3
18.1
19.1
20.4
21.7
Total
Total
Source: Statistics Germany
Others Total
Imports Canned tuna: France
Source: Eurostat
Jan-Jun 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Spain Seychelles
11.3
17.5
9.3
10.9
13.8
14.5
6.5
9.5
12.0
12.5
11.4
10.4
In the Middle East, canned tuna imports in volume increased into Egypt, Saudi Arabia, UAE and also in GCC (Gulf Cooperation Council) countries.
10.0
6.1
10.8
12.9
6.4
9.5
Outlook
Ecuador
6.6
7.4
5.8
7.6
5.3
5.3
Ghana
3.8
4.3
3.0
2.2
3.9
4.3
In the short-term, tuna supplies are expected to be low to moderate, although landings in the Western and Central Pacific increased slightly in September while the FAD closure ended on 31 October. To keep tuna prices stable in the global market, the Purse Seiners Association will continue to limit their fishing efforts until the end of the year. However, Thai canneries currently have sufficient raw material with moderate levels of production. Additionally, since October, tuna packers in Ecuador have been reporting falling demand from Latin American markets. As a result, price weakening is expected until the end of the year, particularly for skipjack.
Côte d'Ivoire
Mauritius
0.8
1.1
2.2
2.7
4.1
2.5
Thailand
4.6
5.2
2.9
4.4
3.5
2.4
Madagascar
1.7
5.0
3.7
3.3
2.6
1.3
Others
4.8
3.6
2.5
3.3
3.8
4.2
50.0
59.7
52.3
59.8
54.8
54.4
Total
Source: Direction Nationale des Statistiques du Commerce Extérieur – DNSCE
For canned and pouched tuna, imports into the UK and Germany increased by 8% and 21% respectively. However, for the Netherlands and Belgium, imports declined by 20% for each. France and Italy imported less during the first half of this year with supplies dominated by Spanish products.
Other Markets In the Asia/Pacific region, Japan and Australia are two important markets for canned tuna. During the first half of 2015, imports into Japan totalled 25 330 tonnes, a 6.8% increase in comparison with the same period last year, which could be attributed to the cheaper raw material prices. Australian volume imports were stable at 25 000 tonnes. The markets in Southeast Asia remained weak with lower imports in Malaysia and Singapore.
Globefish Highlights October 2015
Catches around the Eastern Indian Ocean have been low, impacting the pole and line fishery in the Maldives, for which prices will remain stable. Indonesia is expected to export less raw tuna for canning and produce more processed tuna, such as loins for exports. The actual demand for canned tuna in the traditional markets of the US and EU is unlikely to improve much even though current prices of skipjack are showing some weakening trends. Asian Producers/exporters will focus more on the Middle East and emerging markets.
13
GROUNDFISH Cod supplies expected to improve with sustained demand while outlook for hake is weak
C
od and haddock quotas in the Barents Sea have been increased, which is likely to result in higher supplies of whitefish for next year. However, hake presents a mixed picture, with southern European and South American resources dwindling, while Gulf of Biscay European quotas will grow. Surimi production is increasing, as market demand strengthens, except in China and Europe. Groundfish production by species (2013) Haddock 4% Saithe 4%
Alaska pollock 42%
Whiting 9%
Hake 16% Cod 25%
Source: FAO
Resources Through the Russia-Norway agreement, the cod quota for the Barents Sea has been set at 894 000 tonnes for next year. This is 89 000 tonnes more than ICES suggested, but 99 000 tonnes less than in 2014. The two countries also chose to set the haddock quota a little higher than ICES’s advice, at 244 000 tonnes. This represents a 35% increase compared with 2015. Thus, the total groundfish quota for the Barents Sea is at an all-time high. Consequently, weaker prices are expected, though the Scandinavian bank Nordea expects prices to remain firm or even edge upwards. For the 2015-2016 season, Iceland increased its cod TAC to 239 000 tonnes, up from 216 000 tonnes during the previous season. This TAC has nearly doubled since 2008, and the stocks seem to be in good shape. However, Iceland is generally landing more cod than their TAC. In fact, on average, they have landed 9.2% more cod than the TAC set over the past two years. If this continues, one should expect Iceland to land about 260 000 tonnes during the 2015-2016 season. In contrast, the country has not filled its saithe quota in recent years. In the 2014-2015 season, saithe landings were 13.5% lower than the TAC (Source: Markofish.com). While the cod and haddock quotas in the north are up, ICES has recommended that the hake quotas in Iberian waters (Cadiz Gulf, Portugal, Galicia and the Cantabrian 14
Sea) should be reduced by 62%. At the same time, it was recommended that the northern hake quota (in French waters of the Gulf of Biscay, Scotland, Ireland and Gran Sol) could be increased slightly. The state of the southern hake resource in Chile is not good. The resource has been declared overexploited, and the authorities are now running a “ban awareness campaign”. The “Paremos El Merluzeo” (“Let’s stop catching hake”) campaign ran through the month of August to protect the resource during its reproduction period (Source: FIS.com).
Trade For a number of years, China has been an important reprocessor of whitefish. Most of the supplies for this activity have come from large groundfish nations like Russia, the USA and Norway. But during the first six months of 2015, China imported 16.2% less round frozen cod than during the same period in 2014. China imported less fish from both Norway and Russia, though modestly more from the USA. Imports from Norway fell from 27 429 tonnes in the first half of 2014 to 14 714 (-46%), while imports from Russia fell from 40 059 to 28 701 tonnes (-28%). Imports from the USA increased by 18.7% to 41 316 tonnes during
Imports Whole frozen cod: China Jan-Jun 2010
2011
2012
USA
14.6
26.8
36.8
Russian Fed.
2013
2014
2015
26.2
34.8
41.3
(1 000 tonnes) 21.1
36.3
35.6
36.2
40.1
28.7
Norway
7.9
6.4
10.6
18.5
27.4
14.7
Greenland
1.5
2.2
1.0
1.6
3.2
5.7
Portugal
0.0
0.1
0.6
0.6
1.1
1.2
Faroe Islands
0.1
0.0
0.1
0.5
0.4
0.9
Netherlands
5.4
2.9
2.2
2.9
3.0
0.1
Others
11.9
7.7
2.3
2.4
2.3
1.3
Total
62.4
82.4
89.3
89.0
112.3
94.0
Source: Eurostat
Globefish Highlights October 2015
Groundfish Norwegian export prices
Average export prices in NOK per kg, FOB Norway 100
Imports Cod-like Groundfish: USA Jan-Jun
Frozen cod whole 90
NOK/Kg fob Norway
80
Fresh cod
2010
Frozen cod fillets
2011
2012
2013
2014
2015
(1 000 tonnes)
Fresh cod fillets
70
Fillets
60
China
34.4
42.2
41.0
40.0
41.8
38.9
50
Iceland
5.0
3.5
4.6
6.0
5.8
4.9
40
Russian Fed.
6.5
2.4
1.9
3.6
2.7
2.3
Canada
2.6
2.1
2.6
1.6
1.9
1.9
Norway
0.4
0.3
0.4
1.3
0.9
0.8
Others
1.3
1.6
4.1
6.6
7.2
5.8
50.2
52.1
54.6
59.1
60.3
54.6
30 20 10 0
Total Blocks/Slabs China
Source: NSC.
this period. The main explanation for this change is that landings in both Russia and Norway have been lower in 2015 than last year. According to the Norwegian Seafood Council, Norway’s exports of groundfish products continued to increase in the third quarter of 2015. Exports of klipfish (salted and dried cod-like fish) increased by 29%, while exports of salted fish fillets increased by 24%. Norwegian exports of fresh cod, including fillets, increased by 22% during the third quarter. But exports of frozen cod (including fillets) declined by 13%. As much as 74% of the frozen cod goes to the EU. Despite a 22% drop in export volume of cod from Norway, the value of exports went up by 2%, reflecting a higher price for practically all product forms. During the first half of 2015, US imports of cod-like groundfish declined by 12.3%. Imports of both fillets and blocks went down, and most suppliers felt the decrease. The largest supplier, China, took the brunt of the decline. Imports of fillets from China went down by 7%, while imports of blocks/slabs from China declined by 21.5%. Hake imports into Italy declined slightly during the first half of 2015, to 15 600 tonnes. Some of the largest suppliers (Spain, South Africa and Namibia) increased shipments to Italy, while the USA and Argentina shipped less to this market. German imports of frozen Alaska pollock fillets declined by 4.7% to 67 500 tonnes during the first half of the year. All major suppliers registered declines in shipments. The major suppliers were China (59%) and the USA (31%). German imports of frozen cod fillets, on the other hand, increased slightly during the first six months of 2015, from 14 800 tonnes in 2014 to 15 300 tonnes in 2015 (+3.4%). The main suppliers were China (40.5%), Poland (26%) and Denmark (7.2%). Globefish Highlights October 2015
18.1
17.3
17.1
14.5
16.5
12.2
Iceland
0.3
0.3
0.5
0.9
0.9
0.7
Norway
0.4
0.5
0.2
0.3
0.5
0.5
Argentina
0.3
0.2
0.5
0.6
0.4
0.5
Russian Fed.
0.8
0.6
0.3
0.2
0.1
0.2
Canada
0.1
0.1
0.2
0.1
0.1
0.0
Others
1.0
1.0
1.4
1.5
0.6
0.9
Total
21.0
20.0
20.2
18.1
19.1
15.0
Gr. Total
71.2
72.1
74.8
77.2
79.4
69.6
2014
2015
Source: NMFS
Imports Frozen Alaska Pollock fillets: Germany Jan-Jun 2010
2011
2012
2013
China
44.1
45.8
38.1
45.9
42.3
39.9
USA
18.4
22.7
27.6
15.3
21.4
20.7
9.1
8.5
4.5
6.3
5.1
4.5
(1 000 tonnes)
Russian Fed. Others Total
2.4
2.3
2.8
1.9
2.0
2.4
74.0
79.3
73.0
69.4
70.8
67.5
2014
2015
Source: Germany Germany
Imports Frozen Alaska Pollock fillets: France Jan-Jun 2010
2011
2012
2013
(1 000 tonnes) China
9.8
14.7
12.5
11.2
9.1
9.6
USA
2.5
5.2
4.9
4.0
4.7
5.4
Russian Fed.
2.4
2.9
2.5
5.8
4.1
4.1
Germany
1.8
3.0
2.8
3.4
3.6
3.4
Others
0.8
0.1
0.3
0.3
0.3
0.8
17.3
25.9
23.0
24.7
21.8
23.3
Total
Source: Direction Nationale des Statistiques du Commerce Extérieur – DNSCE
15
GROUNDFISH Imports Frozen cod: UK Jan-Jun 2010
2011
2012
China
6.3
7.7
8.4
Iceland
7.8
8.3
Russian Fed.
5.0
4.1
Norway
4.7
Germany
3.3
Denmark
2013
2014
2015
10.0
11.6
11.6
8.4
9.3
9.3
9.1
6.4
7.6
7.1
8.1
5.6
4.3
5.1
6.7
5.5
4.3
4.1
4.0
3.1
3.3
3.5
3.7
3.8
4.7
2.8
1.1
Faroe Islands
3.0
3.5
3.6
4.4
2.6
4.5
Greenland
1.9
1.8
2.4
2.2
1.8
0.8
Poland
1.3
1.1
1.4
1.4
0.8
0.8
(1 000 tonnes)
Others Total
1.9
2.0
1.1
1.5
1.2
1.7
38.7
42.1
43.9
50.2
47.0
46.5
Source: Her Majesty's Revenue & Customs
Imports Frozen Hake fillets: Italy Jan-Jun 2010
2011
3.6
3.3
2012
2013
2014
2015
2.9
4.1
(1 000 tonnes) Spain
2.6
2.4
South Africa
2.6
2.6
2.9
3.0
2.7
3.6
USA
1.6
1.5
1.5
2.1
3.2
2.7
Namibia
2.1
2.1
2.3
3.1
2.1
2.4
Argentina
4.8
4.4
3.2
3.9
2.1
1.1
Peru
0.0
0.1
0.3
0.8
0.9
0.8
Uruguay
3.4
3.5
1.2
1.9
1.4
0.7
Chile
0.8
0.4
0.3
0.3
0.1
0.0
Others
1.2
1.3
1.4
1.7
0.9
0.2
20.1
19.2
15.7
19.2
16.3
15.6
Total Source: Eurostat
French imports of frozen Alaska pollock fillets increased by almost 7% during the first half of the year, to 23 300 tonnes. Again, China was the main supplier, accounting for over 41% of the total, followed by the USA and Russia. UK imports of frozen cod were almost level during the first half of the year, registering only a very slight reduction, from 47 000 tonnes in 2014 to 46 500 tonnes in 2015. Iceland, Norway and Denmark shipped less to the UK this year, while Russia, Germany and the Faroe Islands shipped a bit more. There was no change for the largest supplier, China.
Surimi The US production of Alaska pollock surimi is set to be the highest since 2005. Production in late September stood 16
at 186 600 tonnes, with 10% of the TAC still to catch. It is expected that between 15 000 and 24 000 tonnes of surimi will be produced during the B season, which would bring the total production to well over 200 000 tonnes. In 2005 production reached 200 400 tonnes. While surimi production is up, production of pin-bone out (PBO) is down by almost 12% so far in the B season. During the A season, PBO production was down by 11.4% compared with the 2014 season. Headed and gutted (H&G) and mince production is also down, while production of deepskin fillets is up slightly. Viet Namâ&#x20AC;&#x2122;s surimi exports to Japan are increasing. In value terms, Vietnamese exports rose by 11.5% during the first five months of 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Thus, Viet Nam now holds a 7% market share of Japanese surimi imports. Alaska pollock surimi prices in Japan have increased for some products, and this is putting pressure on Japanese traders. Producers of kamaboko are trying to pass the price increases on to the consumers, but with little success. Kamaboko producers are struggling financially, partially as a result of this price hike. The Chinese surimi market is facing weaker demand. Since the beginning of 2015, demand has been weak and prices have declined. At the same time, cold storage holdings are building up. As a consequence, some of the larger producers have entered into a price war to move product to consumers and to convert storage holdings into needed cash. In 2014, Chinese surimi production reached some 225 000 tonnes, but production is now in decline in several provinces. A number of factories have stopped production altogether for a few months in order not to tie up funds in larger cold storage holdings (Source: Undercurrent News). Though global consumption of surimi is rising, Europeâ&#x20AC;&#x2122;s consumption is lagging behind. At the ninth Surimi School Europe Forum in Madrid in September, information on this trend was presented. While the Republic of Korea imports about 130 000 tonnes of surimi every year, and demand is gradually increasing, consumption in Europe appears to be at a standstill. Main surimi exporters to the Republic of Korea in 2014 were Viet Nam and China. Korean imports of Alaska pollock surimi from the USA increased by almost 10% in 2014 (Source: IntraFish). Within Europe, Spain is the largest consumer of surimi products, with a per capita consumption of nearly 1 kg per year. The second largest market is France. Surimi sales in Spain increased during the first half of the year by 3.5% in volume and 2.5% in value, reflecting somewhat lower prices in 2015. Two thirds of the surimi sold in Spain, or about 25 000 tonnes, is sold within retail. The chilled section in supermarkets has especially seen growth in sales. Globefish Highlights October 2015
Groundfish
Indeed, the share of chilled surimi retail sales has gone up from 38% in 2005 to 62% in 2015. New products, such as surimi squid rings, has contributed to this development. Though Spain is seeing growth in surimi sales, demand in the rest of Europe is rather flat or declining as noted above. According to Undercurrent News, in France, the market has declined by 5% by volume, while only minor changes are registered elsewhere. The trend towards chilled products is noted in the rest of Europe, too, and in the Benelux countries, Germany and the UK, chilled products are totally dominating the market.
Prices Headed and gutted cod prices appear to be relatively steady, but haddock prices have been much more unpredictable. Shipments to China from Russia and Norway have been varying from USD 2 250 to 2 800 per tonne, and where the price trend is headed seems to be unknown.
HAKE - in Spain, origin: Namibia EUR/kg 5.0 4.5
3.95
4.0
3.55 3.45
3.5 3.0 2.5
Fillets, skin-on 4-6
Fillets, skin-on 6-8
Fillet, skin-on > 8
MONKFISH - In Spain, origin: Namibia EUR/kg 13.5 11.5 9.5
8.75 8.00 6.75 5.75
7.5 5.5 3.5
However, two factors have recently influenced the haddock markets. First, the Barents Sea haddock TAC was increased by 25% to 223 000 tonnes for 2015. This obviously increased supplies, and this was followed by a further increase to 244 000 tonnes for 2016. The second factor that is influencing this market is the increased Chinese quarantine inspections of Norwegian whitefish. Shipments from Norway have so far not been stopped, but shipments are delayed because of careful and slow inspections of the Norwegian fish. (Source: Undercurrent News). Cod prices on the Spanish market have increased over the past year, but consumers seem willing to accept this. In 2014, cod prices on this market increased by 15-20%, and during the first half of 2015 this trend continued as supplies have been tight. At the same time, there is a general trend towards consumption of higher-value products such as fresh fillets. Russian pollock catchers are building up inventories and thus holding back supplies in an effort to push prices upwards. They are keeping stocks in cold storage in China and are financing smaller catchers as Russian banks are unwilling to do so. They do not appear to be in a rush to sell, as Chinese banks support them in these efforts. Thus, pollock is held back while the catchers are waiting for prices to improve.
100-250 gr/pc
250-500
500-1000
>1000
HADDOCK - H&G, origin: Norway NOK/kg 25.0 21.0 17.0 13.0
14.00
9.0 5.0
H&G - < 800 gr/pc
SURIMI - in France, origin: Spain EUR/kg 2.8 2.5 2.48
2.3 2.0
Stick 250 gr/pc
Source: European Price Report
Outlook The outlook for the coming months is one of improved supplies of cod and cod-like species. Consequently, declining prices can be expected but this may not happen, as demand is strong. However, political and inspection problems in China are disrupting the price outlook for haddock, while cod prices are more stable. For hake, the supply outlook is weaker, and prices are expected Globefish Highlights October 2015
to firm up. US surimi production is growing and may reach record levels in 2015. The global surimi market is also growing, but there are challenges in specific areas. While the market is growing in most of the world, Europe seems to be at a standstill, and prices may be weakening.
17
CEPHALOPODS Squid landings on the decline, strengthening prices while octopus supplies easing The closing of the squid season off the Argentine coast ended in disappointment. Landings were well below expected levels, which have put pressure on prices. In contrast, octopus supplies have improved and are expected to ease the supply situation over the next half year.
Cephalopods production by species (2013) Octopus 1%
Cuttlefish 1%
Cephalopods nei 12% Squid 86%
Source : FAO
Octopus After having been excluded from Mauritanian waters for three years, Galician cephalopod vessels are now hoping to return to these waters for the octopus fishery. However, the Galician vessels generally only have licences to fish demersal species. Vessel owners claim there is plenty of octopus, while also pointing out that the Galician octopus fleet only totals 16 vessels. As a result, they advocate that their participation in this fishery would not have a negative impact on the resource. In August, the octopus fishery in the Campeche and Yucatan waters of Mexico began. The main target species is the four-eyed octopus (Octopus maya), and it is expected that a total of some 10 000 tonnes will be landed in 2015. In other areas of the Mexican Gulf, red octopus and common octopus are the main species caught.
Trade All of the main markets for octopus registered significant increases in imports during the first half of 2015, reflecting improved supplies and to some extent increased demand.
18
In Japan, demand for octopus is on the rise, partly as a result of currency exchange rate fluctuations. The weak yen has pushed prices for imported frozen fish up, diverting demand to steamed and cooked octopus, which are more moderately priced. It is now expected that demand will increase as the year-end sale season approaches. According to Japanese statistics, per capita consumption of octopus in Japan has increased by about 15% from 2014 to 2015. Better landings in Africa have also helped keep octopus prices low. Octopus imports into Japan in the first half of 2015 increased significantly. Total imports were up by 38.5%. The main suppliers, Morocco and Mauritania, both shipped considerably more during this period than compared with the same period last year. China and Viet Nam also registered increases in their shipments to Japan, albeit much more modest growth. Following a similar trend, Italian octopus imports grew during the first half of the year, from 20 700 tonnes in 2014 to 25 100 tonnes in 2015 (+21.3%). Morocco is by far the largest supplier and accounted for over 36% of total imports. Spain and Indonesia both registered increases in octopus exports to Italy, by 34% and 37%, respectively. Globefish Highlights October 2015
CEPHALOPODS Imports Squid: Japan
Imports Octopus: Spain
Jan-Jun
Jan-Jun 2010
2011
2012
11.8
8.0
6.7
Mauritania
2.2
3.1
Portugal
0.7
1.0
Italy
0.6
India Algeria
2013
2010
2011
12.3
14.4
2012
2013
2014
2015
17.0
14.9
2014
2015
12.4
8.5
13.7
2.7
2.1
3.4
5.6
Chile
0.1
0.9
3.5
2.5
2.7
5.3
0.9
3.5
2.0
3.5
Peru
1.2
4.8
2.9
4.7
5.5
4.9
0.4
0.5
0.4
0.6
0.6
Thailand
4.2
3.7
3.4
3.3
2.8
2.7
0.3
0.5
0.3
0.2
0.3
0.6
Viet Nam
2.7
2.3
2.7
2.1
1.8
1.4
0.3
0.4
0.4
0.4
0.5
0.5
Argentina
0.3
0.4
0.3
0.4
1.4
1.4
Viet Nam
0.9
0.5
0.6
0.3
0.4
0.5
USA
2.0
1.8
0.5
0.9
0.7
0.7
Senegal
0.4
0.7
0.8
0.2
0.4
0.4
India
0.8
1.0
0.7
0.8
0.5
0.5
China
1.5
0.2
0.2
0.6
0.1
0.4
Philippines
0.6
0.4
0.6
0.7
0.5
0.5
Others
2.2
2.9
2.0
0.9
2.2
1.4
Indonesia
0.0
0.2
0.3
0.4
0.4
0.3
21.0
17.6
15.1
20.9
18.4
27.2
Others
1.8
1.2
2.1
1.6
1.6
2.0
25.9
31.1
33.8
36.1
34.9
34.6
2013
2014
2015
(1 000 tonnes)
(1 000 tonnes) Morocco
Total
China
Source: Agencia Tributaria
Total
Imports Octopus: Italy
Source: Japan Customs
Jan-Jun 2010
2011
2012
2013
2014
2015
6.0
2.9
2.8
8.2
5.5
9.1
Spain
4.6
4.5
3.0
4.0
3.2
4.3
Indonesia
2.1
2.4
2.5
1.2
1.9
2.6
18.8
Imports Squid: Italy Jan-Jun
(1 000 tonnes) Morocco
16.8
2010
2011
2012
Spain
12.3
13.4
11.4
13.9
12.0
11.7
11.5
11.9
9.3
8.9
9.9
6.8
(1 000 tonnes)
Mauritania
1.2
1.1
0.5
0.8
1.4
1.6
Thailand
Senegal
1.1
1.8
2.5
1.2
1.0
1.5
China
2.1
3.3
2.4
3.9
4.4
4.3
India
0.9
1.0
0.9
1.1
1.1
1.2
Peru
2.5
0.5
1.1
2.5
1.6
3.8
4.3
4.2
1.6
3.6
3.1
3.0
Mexico
1.0
2.5
0.6
0.5
1.5
1.1
India
Viet Nam
2.1
1.6
1.6
0.9
0.9
0.9
South Africa
2.9
3.0
1.5
1.0
1.0
2.6
Tunisia
0.6
2.2
2.4
0.5
1.2
0.7
Viet Nam
3.6
3.6
2.7
2.1
1.7
1.2
Thailand
0.7
0.4
0.8
0.3
1.0
0.2
Indonesia
1.1
1.6
1.1
1.2
1.2
1.0
USA
0.5
0.9
0.9
0.3
1.1
1.0
Others
3.2
2.9
2.0
3.4
3.0
2.8
44.0
45.2
33.9
40.8
39.0
38.2
Others Total
1.8
2.6
2.2
1.6
2.0
1.9
22.0
22.8
19.8
20.3
20.7
25.1
Total
Source: Agencia Tributaria
Source: ISTAT
Imports Octopus: Japan Jan-Jun 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Morocco
6.7
2.7
3.8
12.4
9.7
14.1
Mauritania
5.7
6.3
8.5
9.9
5.1
8.0
China
4.1
3.7
3.7
2.9
3.3
3.5
Viet Nam
1.3
1.4
1.9
1.6
1.4
1.8
Thailand
0.5
0.6
0.7
0.5
0.4
0.4
Spain
0.6
0.9
1.5
0.6
0.0
0.0
Others
0.4
1.0
1.4
1.3
0.9
1.0
19.3
16.6
21.5
29.2
20.8
28.8
Total Source: Japan Customs
Globefish Highlights October 2015
In Spain, octopus imports were up by almost 48% during the first six months of 2015. Again, Morocco was the main supplier, accounting for just over half of all Spanish imports. Moroccoâ&#x20AC;&#x2122;s shipments increased by over 61% compared with last year. Mauritania also registered a healthy increase of 65% compared with last year, and Portugal showed a marked increase in shipments to Spain (+75%).
Squid In the Democratic Republic of Korea it is reported that the East Sea squid season resulted in an economic upturn this summer, with more activity and a general optimistic mood in the industry. However, this boom in the squid industry has also created a problem. Democratic Republic 19
CEPHALOPODS Imports Squid: Spain Jan-Jun 2010
2011
2012
Falkland Isl. (Malvinas)
20.9
17.1
22.8
India
10.9
8.0
Morocco
3.1
China
5.3
Peru
2013
2014
2015
16.9
15.5
20.0
9.3
7.3
9.0
7.9
4.1
2.7
4.8
4.1
4.1
5.8
5.0
5.0
4.6
3.9
6.7
6.3
4.3
6.4
3.7
3.0
Mauritania
0.5
0.6
0.6
1.4
1.1
2.6
South Africa
2.9
2.4
1.4
0.5
0.4
1.3
USA
1.4
1.6
3.6
0.2
2.3
1.1
Namibia
0.4
0.8
0.8
1.3
1.0
1.0
France
1.0
1.0
0.9
0.6
0.4
0.7
Portugal
1.1
1.6
0.8
0.6
0.8
0.6
UK
1.7
0.6
0.1
0.3
0.2
0.2
Chile
0.0
0.8
1.6
0.3
0.0
0.0
Others
1.0
2.0
1.5
1.7
2.2
2.0
56.8
52.7
55.4
47.4
45.3
48.4
(1 000 tonnes)
Total
Source: Agencia Tributaria
Imports Squid: USA Jan-Jun 2010
2011
2012
15.4
16.9
19.4
3.5
2.4
1.7
2013
2014
2015
18.9
17.4
19.1
1.7
2.1
2.9
(1 000 tonnes) China Republic of Korea Taiwan PC
2.7
1.3
1.8
1.3
1.6
1.9
Peru
1.6
1.4
1.9
2.0
1.1
1.9
Thailand
2.3
1.9
2.3
2.1
1.5
1.7
India
2.5
1.8
2.2
1.8
1.3
1.7
New Zealand
0.8
0.7
0.5
1.1
0.4
0.2
Others Total
2.2
2.8
7.2
5.4
4.0
4.1
31.0
29.3
37.0
34.3
29.4
33.5
Source: NMFS
of Koreaâ&#x20AC;&#x2122;s leader Kim Jong-Un has encouraged people to move to the coast to participate in this activity, and as a result there has been a huge increase in migrant workers on the coast and a serious lack of accommodation for these migrants. The Argentina squid season, which showed great promise earlier in the year, ended with a significant drop in landings. Total landings amounted to 153 349 tonnes in Argentine waters during the first half of the year, down from 186 166 in 2014 (-21.4%) Outside Argentine waters, about 200 vessels have been active, and catches are estimated to be between 330 000 and 400 000 tonnes. In spite of the downturn in catches, prices are low. The average price of squid from this region has been about USD 1 100 per tonne, which is well below the USD 2 300 per tonne in 2012, when similar low catches were recorded. Increases in operating expenses have also contributed to the poorer economic performance of the fleet (Source: Undercurrent News/FIS.com). El NiĂąo is having an effect on squid prices in Peru, as landings are down significantly, pushing prices for Peruvian giant squid up by as much as 20%. Warmer water has pushed the squid to the southern part of Peru and even to Chile, and fishermen in in the northern part of Peru are having difficulties finding the giant squid. Undercurrent News reports that Russian buyers are now buying larger volumes of giant squid from South America. The Russians are particularly interested in the cheaper products, and have put considerable pressure on prices in spite of their larger importing volumes.
Trade While there were marked increases in octopus imports on major markets in the first half of 2015, the same was not the case for the squid trade during the same time period. Japanese squid imports actually showed a slight decline, from 34 900 tonnes to 34 600 tonnes. The main supplier, China, lost significant market share in Japan, although it is still the largest supplier by far. Indeed, Chinese shipments declined from 17 000 tonnes to 14 900 tonnes (-12.4%), while in contrast, Chile, increased shipments by 96%, from 2 700 tonnes to 5 300 tonnes. For the other main suppliers to Japan, there were only minor changes. Italian squid imports also declined during the first half of the year, by a little over 2%, though here were some changes in the relative positions of the major suppliers. Imports from the top supplier, Spain, declined slightly, while imports from Thailand dropped by over 30%. Imports from Peru and South Africa increased by 111% and 160%, respectively.
Source: European Price Report
20
Spain is importing more squid in 2015 than in 2014. Imports during the first half of the year increased by Globefish Highlights October 2015
CEPHALOPODS
6.8% to 48 400 tonnes. Historically, the Falkland Islands (Malvinas) have been the main supplier to Spain, and still are. Imports from the Falkland Islands (Malvinas) increased by over 33%, while imports from India and China declined somewhat. Mauritania and South Africa both registered significant increases in their shipments of squid to Spain.
Imports Cuttlefish: Spain Jan-Jun 2014
2015
9.8
8.6
8.2
2.1
1.7
1.0
2.2
1.7
2.2
1.7
1.8
0.6
0.2
0.3
0.4
0.5
1.0
1.1
0.7
0.2
0.5
0.3
1.8
0.6
0.9
1.3
0.2
0.3
Cuttlefish
India
6.5
5.9
4.5
1.8
0.6
0.0
Others
3.4
3.4
2.6
2.1
1.2
1.7
The cuttlefish market has been rather slow for some time, but is now showing some signs of picking up. During the first half of 2015, the main importers registered increased imports, albeit by rather small percentages.
24.3
23.8
20.4
19.3
14.2
15.0
Source: Agencia Tributaria
The USA, which is a significant importer of squid, increased imports by almost 14% in the first half of 2015, to 33 500 tonnes. China was the main supplier, accounting for 57% of total imports, followed by the Republic of Korea (8.7%) and Taiwan Province of China (5.7%).
Imports Cuttlefish: Japan Jan-Jun 2010
2011
2012
Thailand
3.3
2.7
2.8
Morocco
1.8
0.9
Viet Nam
1.7
Malaysia Republic of Korea
2013
2014
2015
2.3
2.0
2.0
1.9
1.7
1.2
1.5
1.4
1.8
1.1
0.9
1.0
0.8
0.6
0.6
0.6
0.5
0.6
0.3
0.3
0.2
0.2
0.1
0.4
Iran (Islamic Rep. of)
0.2
0.2
0.4
0.2
0.1
0.2
Others
0.8
0.8
0.9
0.7
0.4
0.3
Total
8.9
6.9
8.6
6.8
5.2
6.0
(1 000 tonnes)
Source: Japan Customs
Imports Cuttlefish: Italy Jan-Jun 2010
2011
3.3
3.7
2012
2013
2014
2015
1.4
2.4 1.5
(1 000 tonnes) France
3.6
3.0
Spain
2.1
1.6
1.5
2.0
1.6
Tunisia
2.9
3.4
2.7
1.9
2.1
1.4
Senegal
1.0
1.1
0.7
0.9
0.9
1.1
UK
0.6
0.4
0.7
0.9
0.3
1.1
Morocco
1.1
1.5
0.6
1.1
1.5
0.8
Mauritania
0.6
0.2
0.1
0.2
0.2
0.4
Netherlands
0.4
0.3
0.5
0.1
0.1
0.3
India
0.2
0.4
0.3
0.1
0.2
0.2
Viet Nam
0.3
0.5
0.4
0.1
0.1
0.0
Others
0.8
0.9
0.8
0.5
0.8
0.5
13.3
13.9
12.2
10.7
9.2
9.7
Total Source: ISTAT
Globefish Highlights October 2015
2010
2011
2012
Morocco
8.4
9.5
7.7
France
1.5
1.8
Mauritania
1.5
1.1
Senegal
0.2
Ghana China
2013
(1 000 tonnes)
Total
Imports into Italy increased by 5.4%, with France being the main supplier and accounting for almost one quarter of total imports. Other important suppliers were Spain and Tunisia. Spanish cuttlefish imports increased by 5.6%. The main suppliers were Morocco (accounting for almost 55%), France (15%) and Mauritania (12%).
Prices The low catches of Patagonian squid are expected to drive prices up dramatically, according to Spanish buyers. Prices are forecasted to rise by at least 30% from an average of EUR 3.50 per kg in March-May 2015. Some observers expected even higher prices. The low cold storage holdings are adding to this tight supply situation, as last yearâ&#x20AC;&#x2122;s season was also disappointing (Source: Undercurrent News). While octopus prices have been coming down lately due to an improved supply situation, squid prices have also dropped, but that is in spite of poorer supplies. Octopus prices have been declining due to an improved supply situation, and are expected to continue this trend in coming months. Squid prices have also dropped despite of poorer supplies, as demand is overall poor, as is normal at this time of the year. Squid prices are not expected to go up until March of next year, if indications on squid landings in the South West Atlantic continue to be poor.
Outlook The supply situation for octopus is expected to improve with larger volumes becoming available on the major markets during the next six months. For squid, the situation is the opposite. Landings off South America have been disappointing for the second year in a row, and the tight supply situation will continue during the rest of 2015. Thus, squid prices will rise somewhat. For cuttlefish, it is expected that trade will pick up modestly, perhaps in response to the tight squid supplies. 21
TILAPIA Demand slows down, supplies adequate
W
hile major suppliers experienced production problems in 2014, a growing volume of supplies are entering domestic markets in the major producing markets. Approximately 200 000 tonnes of tilapia (whole, filleted and breaded) entered the international market during the first half of 2015, a marginal decline compared with the same period in 2014.
China: Frozen tilapia exports by major markets (tonnes) Jan-Jun 2013
2014
2015
(1 000 tonnes) USA
65 777
67 527
71 878
Mexico
23 910
194 09
17 797
Zambia
5 614
8 077
9 107
Israel
4 659
6 536
7 177
Cameroon
4 422
6 679
6 732
Iran
13 05
4 371
5 112
Cote d Ivoire
8 823
6 082
5 097
Congo DR
2 540
3 575
4 093
Burkina Faso
1 286
3 363
3 990
Angola
2 253
4 650
2 710
161 166
163 430
168 278
Tot (incl, others)
China During the first half of 2015, exports of Chinese tilapia increased by 3% compared with the same period in 2014. However, exports of frozen fillets and whole frozen tilapia, both of which take up the largest share of total exports, experienced declines of -2.27% and -1.97% respectively. In contrast, exports of Chinese breaded tilapia increased by 23.8% during the period under review. Exports were significantly higher to Cameroon as well as to other African markets, namely Côte d’Ivoire, The Democratic Republic of the Congo (DRC) and Kenya. The USA is the largest market for Chinese breaded tilapia and grew its imports in this product category by 36% during the first half of 2015 compared with the same time period in 2014.
Exports China: Exports of frozen tilapia
Total Chinese tilapia exports continue to be the highest to the USA. The USA increased its imports of Chinese tilapia by 6.45% during the review period to total 71 878 tonnes. African markets are the second largest market for Chinese tilapia and absorbed a total of 45 352 tonnes during the first half of the year. The largest markets for Chinese tilapia within Africa are Zambia, Cameroon, Côte d’Ivoire and the DRC. During the first half of 2015, Latin American markets took a 12.4% share of Chinese tilapia exports with Mexico consuming the largest share. Recently, Chinese tilapia exports have been increasing to the Islamic Republic of Iran and during the period under review, a total of 5 112 tonnes was absorbed, an increase of 17% compared with the same period last year.
USA For the first half of 2015, total US tilapia imports totaled 111 509 tonnes, growing by 9% compared with the same period in 2014. While imports of fresh fillets remain stable, frozen fillets and whole frozen tilapia categories experienced 7.6% and 23.1% growths respectively, confirming the popularity of tilapia in the market. China took up more than 80% of the frozen tilapia market share, followed by Taiwan Province of China (PC) and Indonesia. Tilapia fillets from Indonesia and Taiwan PC are premium quality and prices are usually between 50-70% higher than for fillets from other countries. Average import prices from China weakened by 12.4% during the period under review. Fresh tilapia imports during the first half of 2015 remained steady compared with the first half of 2014, both in terms of volume and value. Supplies fell from Honduras, the main supplier of fresh tilapia to the US market. During
Imports Tilapia (by product form): USA Jan-Jun
Jan-Jun 2010
2011
2012
2013
2014
2015
(1000 tonnes)
2010
2011
2012
20.0
16.9
18.0
2013
2014
2015
16.0
19.7
(1 000 tonnes) Whole frozen
19.0
Whole frozen
16.9
18.0
19.0
16.0
19.7
Frozen fillets
57.9
80.8
63.9
72.4
77.9
Frozen fillets
64.5
57.9
80.8
63.9
72.4
77.9
Fresh fillets
12.5
11.7
8.5
14.1
13.5
13.4
Total
97.0
86.5
107.3
97.0
101.9
111.0
Breaded
11.7
8.5
14.1
13.5
13.4
Total
86.5
107.3
97.0
101.9
111.0
Source: China Customs
22
Source: NMFS
Globefish Highlights October 2015
Tilapia Imports Fresh tilapia fillets: USA
EU Jan-Jun
2010
2011
2012
2013
2014
2015
(1 000 tonnes) Honduras
3.5
4.2
2.5
3.8
5.3
4.8
Costa Rica
3.2
1.7
1.2
3.5
2.9
2.6
Colombia
1.2
1.1
1.2
1.9
1.9
2.5
Ecuador
4.1
4.1
3.3
3.2
1.4
1.4
Others
0.5
0.6
0.3
1.7
2.0
2.1
12.5
11.7
8.5
14.1
13.5
13.4
Total Source: NMFS
Imports Whole frozen tilapia: USA Jan-Jan 2010
2011
2012
11.3
10.1
12.4
Taiwan PC
7.5
5.9
Thailand
1.0
0.3
2013
2014
2015
10.8
9.5
12.3
5.1
7.5
5.6
4.9
0.2
0.2
0.3
0.5
(1 000 tonnes) China
Others Total
During the second quarter of 2015, US import volumes of fresh fillets from Guatemala and Costa Rica declined by roughly 60% and 30% respectively. However, the values of Guatemalan exports remained steady through the second quarter, while values from Costa Rican exports suffered only a minor decline of 1.2%. Production from both countries will also supply their local markets, which are increasingly demanding more of this commodity. Honduras is the leading exporter of both fresh and frozen fillets from Central America to the USA. During the second quarter, both volume and values of exports remained stable compared with the same time period last year. In a similar trend to its neighboring countries, the Secretary of Agriculture and Livestock (SAG) of Honduras estimates that there will be an increase in volumes to the local market, with roughly 1 200 tonnes per year destined for domestic sales.
0.2
0.6
0.3
0.5
0.6
2.0
16.9
18.0
19.0
16.0
19.7
2013
2014
2015
Asia
64.8
70.0
National statistics reveal a total of more than 79 000 tonnes of frozen tilapia fillets were exported from Asia during the first half of 2015 with China as the lead exporter. This volume was slightly lower than compared with the same period in 2014 as more supplies were channeled to domestic markets. In addition to this, more than 75 000 tonnes of whole frozen tilapia entered the international market from Asian sources as well.
Imports Frozen tilapia fillets: USA Jan-Jun 2010
2011
2012
(1 000 tonnes) 57.5
51.9
71.3
56.5
Indonesia
4.6
4.0
6.4
5.4
5.4
4.9
Thailand
0.5
0.4
1.1
0.5
0.8
0.6
Taiwan PC
1.0
0.8
0.8
0.7
0.5
0.6
Ecuador
0.3
0.2
0.4
0.4
0.0
0.0
Others
0.6
0.6
0.8
0.4
0.9
1.8
64.5
57.9
80.8
63.9
72.4
77.9
Total
Latin America
20.0
Source: NMFS
China
According to Eurostat, the tilapia market in the EU-28 weakened during the first half of 2015 as imports slid by 22% compared with the same period in 2014. Aside from the close to 7 500 tonnes of frozen fillet imports, the block also imported 5 812 tonnes of whole frozen tilapia, almost entirely supplied by Asian countries. China was the leading supplier (68%) followed by Viet Nam (17%), Indonesia (6.7%) and Thailand (5.8%). A newcomer as a supplier to this market is Myanmar.
Source: NMFS
this period, imports increased from Colombia by a notable 32%. Meanwhile, imports of frozen tilapia (whole and fillets) during the first half of 2015 were up 10.4% compared with the same time period a year ago, growing by 3 700 tonnes. Contrary to the decline trend in 2014, whole frozen tilapia imports increased by 29% from China. Frozen fillet imports, which dominated the frozen category, increased by 7.6% with China maintaining its position as the lead supplier. However, imports increased from other sources namely Honduras, Mexico, Viet Nam, Myanmar and Malaysia. Globefish Highlights October 2015
Taiwan PC, which is the second largest exporter behind China, experienced a 19.5% decline in exports due to production problems and shortage in supplies. Besides the USA as the major market, Taiwanese tilapia is exported largely to Middle Eastern markets while their sashimi quality tilapia heads to Japan.
Outlook China, the largest producer, reports a slow market amidst plentiful supply with low prices. However, demand remains firm in other producing markets. This is expected to strengthen prices especially with Chinese New Year demand imminent. 23
PANGASIUS Supplies tighten from major producer, demand in non-EU markets strong
T
he largest producer of pangasius, Viet Nam, reported a marginal decline in production during the first half of 2015. Demand remains strong in the USA, the single largest market, as well as in Asia and Latin America. Imports into the EU continue on a downward trend, demonstrating significant declines. Approximately 230 000 tonnes of frozen pangasius entered the international market during the first half of 2015.
Viet Nam According to the Ministry of Agriculture and Rural Development, during the first half of 2015, production of pangasius in the Mekong Delta was reported at 533 500 tonnes. This was a marginal decline (-0.85%) compared with the same period in 2014. However, production was reported to have increased in some provinces year-onyear. Pangasius export values during this period totaled USD 750 million, down 9% compared with the same period last year. There was a significant decline (-17.6%) in exports to the EU while exports to the single largest market, the USA, increased by 4.8%. The UK and China both emerged as lucrative markets (Source: VASEP). According to Chinese Customs, China imported 5 481 tonnes of whole and frozen pangasius fillets from Viet Nam during the first half of 2015, an increase of 2 179 tonnes compared with the same time period last year. There was a 4.1% decline in exports to ASEAN countries, while Saudi Arabia has emerged as a potential market (Source: VASEP).
USA Pangasius Imports of frozen pangasius fillets continue on a positive trend into the USA. The market absorbed 22% more during the first half of 2015 compared with the same time period last year. As usual, Viet Nam was practically the only supplier. Interestingly, there were 67 tonnes of imports from Myanmar, a newcomer to the market.
Domestic catfish August has been designated as National Catfish month in honor of US catfish farmers and to recognize the contributions that the catfish industry had made to the economy since the 1980s. Southern states, including Louisiana, Mississippi, Alabama and Arkansas, produce most of the nationâ&#x20AC;&#x2122;s catfish. Mississippi is the leading producer of farm-raised catfish while Texas has the highest catfish consumption of any state.
24
Imports Frozen pangasius fillets: USA Jan-Jan 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Viet Nam China
19.2
34.3
47.1
48.4
44.4
54.2
1.8
0.8
0.2
0.0
0.0
0.0
Thailand
1.4
0.7
0.0
0.0
0.0
0.0
Others
1.1
0.2
0.2
0.0
0.0
0.0
23.5
36.0
47.5
48.4
44.4
54.2
Total Source: NMFS
EU The EU market for pangasius continued its decline, decreasing imports of frozen pangasius fillets by 16.5% during the first half of 2015 according to Eurostat data, to total 52 808 tonnes. Supplies were lower from the main source, Viet Nam. However, imports increased from China while newcomer Indonesia was also present as a supplier. Within the EU, Spain continued to be the largest importer although it imported nearly 5 000 tonnes less than in the first half of 2014. Average import prices were 3% more than compared with last year at USD 2.37 per kg. Imports increased into the UK, Belgium and Portugal. In terms of whole frozen pangasius, a total of 1 428 tonnes were imported by the EU, with all supplies coming from Asian sources with Viet Nam in the lead. Indonesia, Bangladesh, Thailand and Myanmar are among the other suppliers of whole pangasius to the EU market. Bangladesh and Myanmar increased supplies to the EU by 67% and 18% respectively. Bangladesh is increasingly growing their exports of pangasius with efforts underway to intensify production and grow investment.
Asia Demand for pangasius in Asia remained positive throughout the first half of 2015 with both household consumers and the catering sector playing strong roles. Total imports Globefish Highlights October 2015
Pangasius
of pangasius (whole and fillets) strengthened by 11% compared with the same time period last year to reach approximately 37 000 tonnes. Frozen pangasius dominated this volume, comprising 93% of imports. Imports increased into all Asian countries, namely China, the Republic of Korea, Singapore, Hong Kong SAR, Malaysia, Taiwan Province of China (PC), Thailand, Japan and Sri Lanka. In India, the catering sector continues to be the main user of frozen pangasius fillets. During the first six months of 2015, total frozen pangasius imports into India (98% of which were fillets) reached approximately 2 300 tonnes from Viet Nam, demonstrating 41% growth compared with the same time period last year, the Ministry of Commerce reports. Meanwhile, local catfish production is making steady inroads, although the fillet size is smaller than compared with imported pangasius.
Other Markets During the first half of 2015, imports of pangasius into Latin American markets reached approximately 45 000 tonnes, a decline of roughly 16 000 tonnes compared with
the same time period in 2014. This decline was largely due to significantly lower imports from Brazil as a result of a temporary ban on imports of Vietnamese pangasius in 2014. On 27 March 2015, Brazil’s Ministry of Agriculture, Livestock, and Supply (MAPA) issued a notice to re-grant an import license for seafood products from Viet Nam. This was issued after MAPA reviewed the plan on corrective actions submitted by the Vietnam Ministry of Agriculture and Rural Development. Mexico is the largest market of pangasius within the region. According to national statistical data, total pangasius imports into Mexico reached 27 821 tonnes during the first half of 2015. Meanwhile, pangasius imports are slowly increasing into African markets, particularly for whole frozen pangasius.
Outlook The EU market is not expected to recover soon. Prices remain low but firm, sustained by the steady demand in most other markets.
M ar k et news and trends “Pricing war” by EU discount retailers
S
eafoodSource.com recently reported that a “pricing ‘war’ may be killing the pangasius industry” in Viet Nam. According to this same news site, this pricing war has largely been created by the low prices that EU discount retailers are paying. Although VASEP and the Ministry of Agriculture and Rural Development have tried to set a minimum price for farmers when selling their fish, these efforts have not been successful. Seafoodsource.com writes that in many European retail outlets, customers can “now buy pangasius from between EUR 2.22 per kg (treated) to about EUR 2.58 per kg for a non-treated top quality fillet.” The article goes on to conclude that “at these prices, the pangasius industry in Viet Nam will not survive in anything like its current form, and already it is a shadow of what it was ten years ago. Farmers’ costs continue to escalate as the price they are being offered for their fish is constantly being eroded.” These costs include the growing expense of feed, as well as the funding required to become certified as sustainable. As a result, farmers are increasingly ceasing to grow pangasius, instead switching to rearing tilapia or shrimp
.
Source: SeafoodSource.com
Globefish Highlights October 2015
RECENT
NEWS
MARP requests Vietnamese Government to extend deadline for farms to obtain VietGap
T
he Ministry of Agriculture and Rural Development of Viet Nam has asked the government to extend the deadline for pangasius fish farms to obtain VietGap and international certificates until 31 Decmeber 2016 as opposed to the end of this year. This request comes off the back of a new amendment by the Vietnamese Government, which requires all areas rearing pangasius nationwide to obtain the Vietnamese Good Agriculture Practice (VietGap) standards and other international certificates. Undercurrent News reports that currently, only half of the total areas rearing pangasius are in receipt of a VeitGap certificate. The amendment was initially introduced in June 2014, but since then there have been ongoing difficulties for farms to obtain the standard. The Ministry of Agriculture and Rural Development also proposed abolishing regulations requiring companies to register for export contracts as a condition to complete customs clearance procedures, and exempting businesses from fees on export contract registrations. Source: Undercurrent News
25
EUROPEAN SEABASS AND GILTHEAD SEABREAM Long-term profitability the top priority as supply growth halted
T
he Greek industry, which previously benefitted from significant EU investments, has struggled for cash flow in a difficult economic environment for some years now. This has severely restricted opportunities for further expansion and caused production volumes to decline significantly from their peak around five years ago. In contrast, ongoing heavy investment and an aggressive growth strategy has seen the Turkish seabass and seabream sector total harvest grow from some 35 000 tonnes in 2000 to over 100 000 tonnes in 2014, leading to net supply growth overall and maintaining constant pressure on prices. Now, as the Turkish growth phase winds down, prices are approaching sustainable levels and the medium-term supply outlook suggests this may be more than merely temporary relief for cash-strapped European aquaculture companies.
So far in 2015, the effects of improved prices are already evident. For fresh bream, year-to-date export volumes were 13% down by the end of August as Greece looks set to record its lowest bream harvest for almost a decade. The corresponding drop in revenue was only about 3% however, reflecting an average 12% price increase. For bass, the drop in volumes this year has been significantly less drastic, and year-to-date Greek bass exports for the same period were approximately flat. Prices for bass have also improved somewhat, but to a much lesser extent than bream. In fact, in Greeceâ&#x20AC;&#x2122;s major market, Italy, bream prices for 300-450 g have now overhauled those of the same size bass, after lagging well behind since early 2011. Less fish at higher prices tends to have a positive impact on margins at the company level, and indeed Greek companies have been reporting sharply reduced losses, and appear to be edging towards profitability. If prices can be sustained at high levels for at least the next two years, this will give the bass and bream sector a valuable opportunity to invest in marketing, product development and technological innovation. Although more needs to be done, progress has already been made in these areas. According to Intrafish.com, organic-certified Greek bass is being sold in multiple US supermarkets.
Production Seabream (Sparus aurata): World Jan-Jun 2010
2011
2013
2014*
2015*
Greece
57.4
71.1
72.5
73.0
74.0
66.8
Turkey
29.3
33.0
31.7
45.0
42.0
35.5
Spain
21.4
16.4
17.4
18.0
22.2
20.1
Egypt
17.1
15.9
16.5
17.0
17.0
16.0
Italy
6.6
5.9
6.1
8.0
9.0
10.1
Tunisia
2.8
4.6
6.1
6.0
6.0
5.0
Cyprus
2.8
3.1
3.2
3.0
3.0
2.0
Malta
1.8
1.1
2.6
3.0
3.0
2.0
France
2.6
2.4
2.0
2.0
2.0
2.0
Israel
1.2
1.4
2.1
2.0
2.0
2.0
Others Total
7.8
6.6
7.8
8.0
9.0
7.0
150.8
161.4
167.8
185.0
189.1
168.4
Source: FAO (until 2013)
* Estimate
Production Seabass (Dicentrarchus labrax): World Jan-Jun
SEABASS/SEABREAM - in Italy origin: Greece
2010
2011
EUR/kg
2012
2013
2014*
2015*
(1 000 tonnes)
6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.0
5.50 5.20
Turkey
50.8
47.0
65.5
60.0
66.0
63.0
Greece
40.2
44.4
42.8
45.0
43.0
42.0
Egypt
17.6
18.7
14.8
15.0
16.0
16.0
Spain
12.2
18.4
15.1
15.0
16.0
17.0
6.6
6.8
6.9
8.0
8.0
8.0
Italy
Seabass fresh whole 300-450 gr/pc
Source: European Price Report
26
2012
(1 000 tonnes)
Seabream fresh whole 300-450 gr/pc
France
8.6
7.7
7.3
7.0
7.0
7.0
Others
9.5
11.0
9.8
10.0
11.0
12.0
145.6
154.0
162.2
160.0
167.0
165.0
Total
Source: FAO (until 2013)
* Estimate
Globefish Highlights October 2015
European seabass and gilthead seabream
Turkey, meanwhile, has developed a more diversified market base, exporting fillets and fresh whole bass and bream to Europe, the Middle East, Northern Africa, Russia and North America. North American buyers are generally
Exports Fresh seabream: Greece 2011
2012
2013
2014
2015
(1 000 tonnes) Italy
14.0
10.2
10.7
9.6
9.9
8.3
Spain
4.1
4.2
4.6
4.8
4.9
4.2
France
3.3
3.1
3.0
3.0
3.3
2.5
Portugal
1.2
2.1
2.3
2.4
2.3
2.1
Germany
1.1
1.0
1.2
1.2
1.1
1.0
Others
2.6
2.6
2.9
2.5
2.8
2.3
26.3
23.2
24.7
23.5
24.3
20.4
Total Source: EUROSTAT
Exports Fresh seabass: Turkey Jan-Jun 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Netherlands
0.8
0.5
1.5
2.0
2.8
Italy
1.2
0.9
1.2
1.5
1.9
2.3
Russian Fed.
0.3
0.7
0.5
1.1
1.8
1.5
Spain
1.3
1.1
0.4
1.2
1.3
1.3
UK
0.2
0.2
0.6
0.8
1.0
1.1
Lebanon
0.7
0.6
0.3
0.5
0.6
0.6
Greece
1.0
0.4
0.4
0.0
0.0
0.0
Others
1.1
0.3
0.4
1.2
1.9
2.7
Total
5.8
5.0
4.3
7.8
10.5
12.3
Source: State Institute of Statistics
Exports Fresh seabream: Turkey Jan-Jun 2010
2011
2012
2013
2014
2015
1.7
2.5
(1 000 tonnes) Netherlands
0.5
0.5
1.4
Italy
1.0
1.0
0.9
1.7
1.6
2.4
Lebanon
1.0
1.0
0.7
1.6
1.6
1.9
Spain
0.1
1.1
1.0
0.8
1.3
1.7
Russian Fed.
0.3
0.7
0.8
1.1
1.9
1.5
UK
0.1
0.2
0.4
0.3
0.6
0.7
United Arab Emirates
0.0
0.1
0.2
0.2
0.7
0.7
Germany
0.0
0.3
0.3
0.4
0.4
0.5
Others
0.9
0.2
0.3
1.0
1.2
2.3
Total
3.4
5.1
5.1
8.5
11.0
14.2
Source: State Institute of Statistics
Globefish Highlights October 2015
Jan-Jun 2010
2011
2012
Italy
8.9
9.0
7.9
Portugal
1.3
1.3
France
1.8
2.0
Spain
2.8
UK
1.7
Others
2013
2014
2015
7.2
7.5
7.0
1.1
1.2
1.1
1.3
1.7
1.4
1.2
1.2
2.1
1.2
1.9
1.1
0.8
2.0
1.3
1.0
0.8
0.7
1.8
2.3
1.8
1.5
1.4
1.4
18.3
18.7
15.0
14.2
13.1
12.4
(1 000 tonnes) Jan-Jun
2010
Exports Fresh seabass: Greece
Total Source: EUROSTAT
interested primarily in bass, at least for the time being, while bream is favoured in the Middle East and Northern Africa. Over the last two years, Turkish exporters have doubled their total export revenue, reaching EUR 188 million for the first eight months of 2015. Bream has again been the most profitable species due to lower supply, but prices for bass also rose steadily over the summer and are expected to remain strong until August/September. A hard winter in the first quarter of 2015 kept sea water temperatures under seasonal averages, resulting in slower fish growth rates in the spring, boosting prices, especially for larger sizes. In the 2015 peak stocking season (April/May), Turkish hatcheries faced difficulties in delivery of juveniles due to higher fish mortalities experienced at fish hatcheries. According to industry sources, the resulting late stocking of juveniles in 2015 will delay harvest and availability of bass for export in 2016 and 2017 and will consequently boost prices.
Italy In Italy, importers are looking away from Greece to alternative suppliers to supplement the higher-priced highquality domestic Italian product. Turkey, in particular, has almost doubled its share of the market since 2013, while Spain and Croatia are also growing in importance. In terms of demand, current indications are positive. Domestic production is largely stable, and import volume was up around 9% by July 2015 even as prices rose. Imports of bass rose by relatively more, driven by more attractive prices. If the Italian economy can maintain recent growth following a long recession, high-season demand next year will likely see continued volume growth for both species, while the need to mitigate the higher price level should further boost the market share of relatively cheaper Turkish and Croatian fish.
Spain Spain is reducing its dependency on imported bass, as domestic production has increased this year and is 27
European seabass and gilthead seabream Imports
France
Fresh seabream and seabass: Italy
(Quantity)
Jan-Jun 2010
2011
2012
2013
2014
2015
0.2
0.3
(1 000 tonnes) Seabream (dentex/pagellus) Spain
0.3
0.3
0.3
0.3
Greece
0.6
0.4
0.5
0.2
0.2
0.1
Total
1.1
0.8
0.9
0.5
0.6
0.5
Seabream (gilthead) Greece
8.3
8.3
9.4
8.9
8.2
7.7
Turkey
1.0
1.0
0.9
1.5
1.6
2.4
Croatia
0.3
0.3
0.4
0.5
0.6
1.0
Malta
0.7
0.8
1.0
0.7
0.6
0.8
Total
10.8
11.0
12.4
12.2
11.6
12.6
8.0
8.4
7.3
7.0
6.8
6.7
Wholesale prices in France continue to lag behind previous years, despite increasing import prices, particularly for fresh bream. This indicates there is some resistance to price hikes lower down the supply chain, which can be expected to continue driving the current trend of sourcing cheaper fish from Spain and the Netherlands. For the first seven months of the year, total import volumes for both bass and bream were approximately flat. However, there has been a distinct preference for bass over bream this year, likely due to diverging price trends for the two species.
Imports Fresh seabream and seabass: France Jan-Jun 2010
Seabass Greece Turkey
1.2
0.9
1.2
1.5
1.8
2.3
Seabream (dentex/pagellus)
0.5
0.9
0.6
0.6
0.7
1.2
Spain
France
0.6
0.6
0.5
0.5
0.3
0.2
Total
10.5
11.1
10.0
10.1
10.0
11.3
Gr.Total
22.3
22.9
23.3
22.8
22.2
24.4
(Quantity)
2011
2012
2013
2014
2015
0.2
0.3
0.3
0.1
0.2
0.1
Greece
0.3
0.5
0.3
0.0
0.1
0.1
0.8
1.0
0.7
0.3
0.4
0.4
2.5
2.3
1.8
3.0
3.1
1.8
Seabream (gilthead) Spain
0.7
0.3
0.9
1.3
1.4
1.2
Netherlands
0.0
0.0
0.0
0.1
0.1
0.5
Total
3.5
2.8
3.0
4.7
5.0
4.2
1.7
2.0
1.3
1.4
1.1
1.0
Seabass
Jan-Jun 2010
2012
Total Greece
Imports Fresh seabream and seabass: Spain
2011
(1 000 tonnes)
Croatia
Source: Eurostat
(Quantity)
2013
2014
2015
Seabream (all species)
Greece Spain
0.2
0.3
0.4
0.6
0.4
0.5
Total
2.4
2.7
2.3
2.7
2.2
2.6
Gr. Total
6.7
6.6
5.9
7.7
7.6
7.2
Greece
3.9
3.9
3.2
3.9
4.0
2.6
Turkey
0.1
1.0
1.1
0.9
1.5
2.5
Morocco
0.1
0.2
0.2
0.2
0.2
0.2
Portugal
0.0
0.1
0.1
0.1
0.1
0.2
France
0.2
0.1
0.0
0.0
0.0
0.0
Total
4.6
5.5
4.6
5.1
5.8
5.6
Greece
2.5
2.2
1.5
2.5
1.9
1.9
Turkey
1.3
1.1
0.4
1.2
1.5
1.0
France
0.2
0.2
0.1
0.1
1.3
0.9
Total
4.1
3.5
2.0
4.0
4.8
3.8
Gr. Total
8.7
9.0
6.6
9.1
10.6
9.4
Bass and bream are some of the most popular imported species on the Russian market, with the concentration of consumer demand in Moscow and St. Petersburg. After the introduction of the food embargo in August 2014, the overall focus of the Russian government has been on import substitution strategy and market saturation by domestic fish species.
expected to rise further in 2016. The Spanish farming sector is becoming more attractive to investors as economic indicators continue to improve, prices rise and Greece eases off production. The higher domestic volumes have kept bass prices down at wholesale markets although bream prices have been driven up by tightening supply. Prices for 400-600 g bream were approaching EUR 7 per kg over the summer but how now fallen back in line with seasonal trends.
Though the popularity of fresh bass and bream continues to be high, a significant portion of Russian consumers have had to switch to either cheaper fish products or to poultry due to inflation and rising prices. In the first quarter of 2015, Russian imports of bass amounted to 633 tonnes, decreasing 31% compared with the same period in 2014. The imports of bream were 668 tonnes, down by 32% over the same period of 2014. At the same time, Turkish imports continue to grow and they now represent 99.5% of the bass and bream on the Russian market.
Seabass
Source: Direction Nationale des Statistiques du Commerce ExtĂŠrieur â&#x20AC;&#x201C; DNSCE
Russia
Source: Agencia Tributaria
28
Globefish Highlights October 2015
European seabass and gilthead seabream
Other markets Demand for Mediterranean bass continues to strengthen in the US market, driven by a strong currency and growing interest in the species at the consumer level. The Turkish share of the US market is steadily increasing at the expense of Greece. Germany is another potentially large market that is posting higher import volumes year after year, of both species. In the UK, meanwhile, the quantity of Greek bass on the market has dropped significantly, replaced by cheaper bass imported from the Netherlands.
make them potential market competitors. The results of the investigation by the European Commission into claims that subsidisation of the Turkish industry is hurting EU farmers is another developing issue that potentially has important implications for the market.
Imports Fresh seabass: USA Jan-Jun 2012
Outlook Todayâ&#x20AC;&#x2122;s higher prices can be expected to continue over the next couple of years, as supply forecasts are for flat or negative growth in production volumes. The divergence between bass and bream prices is also likely to continue, with the latter set to be the higher-priced species in many markets. In the short-term, prices will likely drop for the winter before rising again as summer approaches in 2016 in the standard cyclical production pattern. In the longer term, however, the industry is cautious of the the growing interest and investment in bass/bream production by North African Mediterranean countries such as Morocco. Higher water temperatures/growth rates and low labour costs are seen as the advantages of these countries, which
2012
Greece
1.2
2014
1.1
Turkey
0.8
1.0
0.7
0.3
0.2
0.0
0.1
0.2
Trinidad & Tobago
0.1
0.0
0.2
0.1
Spain
0.1
0.0
0.1
0.1
Others
0.1
0.3
0.1
0.0
Total
2.5
2.4
1.8
1.8
2014
2015
0.5
0.3
Source: U.S. Department of Commerce, Bureau of Census
Imports Fresh seabream: USA 2012
2013
(1 000 tonnes) 2015
(1 000 tonnes)
0.1
0.1
0.1
Others
0.1
0.1
0.1
0.1
0.1
0.1
Total
0.1
0.2
0.2
0.2
0.9
0.7
Source: U.S. Department of Commerce, Bureau of Census
Seabream (dentex/pagellus) Greece
0.3
0.2
0.2
0.2
0.3
0.1
Total
0.3
0.2
0.2
0.2
0.3
0.1
Seabream (gilthead)
Farmed Finfish: Price Trend EUR/kg
Turkey
0.0
0.1
0.2
0.7
0.7
1.0
Greece
0.5
0.4
0.5
0.7
0.5
0.4
Netherlands
0.0
0.0
0.0
0.2
0.3
0.4
Italy
0.1
0.1
0.0
0.1
0.4
0.2
Total
0.7
0.7
0.8
1.8
1.9
2.2
0.0
0.0
0.2
0.5
0.6
0.9
Seabass Turkey
0.6
1.1
Guatemala
Greece
2013
2015
Jan-Jun
Jan-Jun 2011
2014
(1 000 tonnes)
Imports Fresh seabream and seabass: Germany 2010
2013
Greece
0.3
0.3
0.3
0.3
0.2
0.2
Netherlands
0.0
0.0
0.1
0.1
0.2
0.2
France
0.1
0.1
0.1
0.1
0.1
0.1
Italy
0.1
0.2
0.0
0.1
0.1
0.1
Total
0.5
0.7
0.8
1.2
1.2
1.5
Gr.Total
1.6
1.6
1.8
3.2
3.4
3.8
6.5
5.50
5.5
5.20
4.5
4.28
3.5 2.5
Seabass
seabream
Salmon
Source: European Price Report
Source: Statistics Germany Globefish Highlights October 2015
29
SALMON Norwegian prices stay up but Chilean exporters facing serious challenges
P
roblems are mounting for the Chilean farmed salmon sector, with prices now down at 2012 levels and production costs already well above other producing countries. Due to a range of different factors, demand for Chilean fish has suffered in all major markets and revenues are well down. In contrast, Norwegian farmers continue to enjoy high prices and resilient EU demand. In the wild salmon market, meanwhile, both Russian and Alaskan fishermen have been seeing exceptionally good catches this year. In Alaska, the total recorded wild salmon harvest is the second highest of all time, at 257 million fish. This is not good news for exporters, however, particularly when the US dollar is as strong as it is now.
Production Farmed salmon: World
Salmon production (farmed and wild) by species (2013)
Sockeye (=Red) salmon 5%
2009 2010
(1 000 tonnes)
Coho (=Silver) salmon 6%
Atlantic salmon
Chum (Keta=Dog) salmon 6%
Pink (=Humpback) salmon 14%
Atlantic salmon 66%
Source: FAO
Norway
940 1 065 1 232 1 168 1 250 1 250 1 310 1 310
Chile
123
264
400
492
620
600
630
630
UK
155
158
163
154
165
170
170
170
Canada
101
102
108
100
125
135
140
140
Faroe Islands
45
60
77
76
85
88
88
88
Australia
32
37
44
43
44
44
44
44
Ireland
16
12
12
9
16
17
18
18
USA
20
19
19
20
19
22
22
22
7
10
12
24
12
12
12
12
Others Total
Prices
Pacific salmon
Norwegian salmon prices started off 2015 around NOK 5 per kg below 2014 prices as high early year volumes had to be absorbed without the assistance of the Russian market. However, the situation reversed itself in the third quarter. Harvesting switched to a new generation, fish weights decreased, temperatures fell, biomasses dropped and the krone depreciated against the euro, pushing prices above 2014 levels where they have remained. Forward price consensus at Fish Pool would suggest that the market is also increasingly optimistic about Norwegian prices over the next two years. For Chilean salmon prices, however, heavily depressed demand in the top markets has seen a steep drop in export prices to almost all destinations. In week 42, the price for fresh Atlantic fillets on the US market was at USD 7.23 per kg compared with USD 9.30 per kg for the same week last year. Meanwhile, in the wild salmon market, exceptionally good catches have kept prices down for pink and sockeye in particular. 30
2011 2012 2013* 2014* 2015* 2016*
Chile
1 438 1 728 2 067 2 087 2 187 2 338 2 434 2 434 123
161
164
146
130
170
175
175
New Zealand
13
14
12
12
13
13
13
13
Japan
15
0
10
12
8
8
8
8
Total
151
175
186
170
136
191
196
196
Gr. Total
1 589 1 903 2 252 2 257 2 323 2 529 2 630 2 630
Source: FAO (until 2012)
* Estimate
Norway This year has so far been another profitable one for the Norwegian salmon industry, with a range of market developments that have allowed exporters to increase the Norwegian share of important markets at the expense of other producers. In the USA, shifting consumer preferences have led to the decision of multiple large retailers to turn to Norwegian salmon at the expense of Chile. It is the EU markets, however, that continue to absorb the largest quantities of Norwegian Atlantics, despite the persistent high prices. Norwegian exporters have successfully filled Globefish Highlights October 2015
SALMON Salmon fillet prices
Exports (value) Salmon and trout: Norway
(FOB Miami, Chilled, C-trim, Alt. fresh, 3-4 lbs) 6.00
Jan-Jun
5.50
2010
2011
2012
5.00
2013
2014
2015
(bill. NOK)
4.50
Salmon
13.7
14.9
13.8
17.2
21.3
21.7
4.00
Fresh
10.2
11.4
10.7
14.0
17.0
17.1
Frozen
0.6
0.8
0.6
0.4
0.6
0.6
3.50
Fresh fillet
1.8
1.6
1.4
1.7
2.2
2.4
Froz. Fillet
1.1
1.1
1.1
1.1
1.5
1.6
2.50
Trout
0.5
0.4
0.8
1.0
1.2
0.9
2.00 Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15
Source: Norwegian Seafood Council
2013
2014
2015
3.00
Source: Urner Barry’s Seafood Price
Exports (quantity) Salmon and trout: Norway Jan-Jun
the large gap in the market left by the Russian trade embargo by taking advantage of a weak krone, strong EU demand and new opportunities in the US market. According to the Norwegian Seafood Council, Norway exported 571 000 tonnes of salmon to the EU in the first three quarters, worth NOK 24.8 billion. These figures represent increases of 11% and 14% respectively compared with the same period in 2014. Norway has exported more salmon this year to all of its top nine markets, all of which are in the EU, with NOK prices at or above last year’s thanks to a favourable exchange rate. Poland, a major processor and smoker of salmon, remains the largest market, and increased its share of total export volume in the first nine months of 2015 to 13%. The US market has also been a growing market for Norwegian salmon, which is increasingly seen as a favourable alternative to Chilean product. Considerable strengthening of the US dollar versus the krone has been another important factor, contributing to the almost 40% increase in exports to the US market in the first nine months of the year. Despite recent Chinese concern over ISA outbreaks in Norway, exports to Asia rose substantially in the first nine months of 2015, to 111 000 tonnes worth NOK 5.3 billion.
2010
2011
2012
Salmon
358.1
359.6
462.2
428.6
463.7
492.8
Fresh
280.9
292.1
384.2
359.6
389.7
416.7
Frozen
21.6
22.2
24.3
16.3
17.9
17.0
Fresh fillet
34.7
26.9
31.4
32.5
35.5
36.2
Froz. Fillet
20.9
18.4
22.3
20.2
20.6
22.9
Trout
12.3
9.2
25.6
25.2
25.3
20.8
(1 000 tonnes)
Source: Norwegian Seafood Council
Total Norwegian production in 2015 is expected to grow by 4-5% in 2015, with a similar growth rate forecasted for 2016. Prices are expected to remain at high levels over the same period, which will see industry revenues increase further. The concern, however, is rising costs. Firstly, the exceptional El Niño weather phenomenon expected in late 2015 could drastically reduce anchoveta catches in South America and drive fishmeal prices steeply upwards. Another major issue is sea lice, which have reached very high levels in parts of Norway this year, prompting mass harvesting that increases price volatility and costs per kg.
SALMON - in France, origin: Norway
TROUT - Ex-farm prices in Italy
EUR/kg
EUR/kg
7.0
3.5
6.0
3.0
5.0
4.28
4.0
2.0
2.0
1.5
Source: European Price Report
Globefish Highlights October 2015
3.10
2.5
3.0
Fresh, gutted, head-on, 3-6 kg/pc
3.60
Trout: Salmo spp
Rainbow Trout: Oncorhynchus mykiss
Source: European Price Report
31
SALMON
Trout Prices for Norwegian trout steadied somewhat in the first half of 2015, but remain below levels seen prior to the Russian trade embargo. The major sources of demand are now the Belarussian and Polish markets, as Japanese demand has been negatively impacted by a weakening yen. Total Norwegian trout exports for the first 9 months of 2015 came to 35 000 tonnes, worth NOK 1.5 billion,
Exports (value) Salmon and Trout: Chile 2011
2012
2013
2014
2015
Salmon
567.7
859.6
1100.2
1293.9
1931.4
1582.8
Frozen
339.2
512.5
640.5
714.0
1123.3
880.8
Fresh
198.4
316.3
419.9
554.6
781.7
671.2
Canned
5.3
3.3
3.8
1.7
3.0
2.8
Salted
8.2
7.4
12.0
4.4
5.3
5.6
Smoked
16.6
20.1
24.0
19.2
18.1
22.4
418.9
578.2
542.8
394.5
382.4
230.9
Frozen
338.5
489.1
458.4
323.8
313.9
179.1
Fresh
48.9
51.8
34.9
32.8
47.0
38.6
0.4
0.1
0.0
0.0
0.0
0.0
Salted
10.7
10.9
16.3
7.6
3.7
2.3
Smoked
20.4
26.2
33.2
30.3
17.9
10.9
986.6
1437.8
1643.0
1688.4
2313.8
1813.7
Canned
Total
Source: Boletín de Exportaciones del IFOP
Jan-Jun 2010
2011
Salmon
6.33
7.54
Frozen
5.52
Fresh
7.98
Canned Salted
2011
2012
89.7
114.0
175.8
2013
2014
2015
231.4
246.1
250.0
Frozen
61.5
78.2
108.2
152.0
152.2
148.6
Fresh
24.9
33.1
63.9
76.6
91.8
98.7
Canned
0.7
0.3
0.3
0.2
0.3
0.3
Salted
1.4
1.1
1.8
1.3
0.7
1.1
1.3
1.3
1.6
1.3
1.0
1.3
61.9
73.1
78.7
66.3
39.0
32.7 27.9
Frozen
52.1
63.7
68.0
58.6
33.4
Fresh
6.4
5.9
4.2
4.2
4.1
3.7
Canned
0.0
0.0
0.0
0.0
0.0
0.0
Salted
1.7
1.6
4.3
1.4
0.6
0.5
Smoked
1.6
1.8
2.2
2.1
0.9
0.7
151.6
187.1
254.5
297.6
285.0
282.7
2014
2015
Total
Source: Boletín de Exportaciones del IFOP
Exports (value) Salmon and Trout: Chile Jan-Jun 2010
2011
2012
2013
(million USD) Japan
429.5
599.2
776.4
437.9
595.0
412.9
USA
218.2
328.1
409.8
541.4
754.1
629.2
32.0
41.3
47.9
110.3
135.4
93.3
Lat. America
166.7
177.8
214.4
286.3
413.5
350.4
Faroe Islands
140.2
257.9
194.5
312.5
415.9
327.9
Total
986.6
1404.2
1643.0
1688.4
2313.9
1813.7
2014
2015
EU-28
Exports (unit value) Salmon and Trout: Chile
2010
(1 000 tonnes) Salmon
Smoked
(million USD)
Trout
Jan-Jun
Trout
Jan-Jun 2010
Exports (quantity) Salmon and trout: Chile
Source: Boletín de Exportaciones del IFOP
2012
2013
2014
2015
6.26
5.59
7.85
6.33
6.55
5.91
4.70
7.38
5.93
9.56
6.57
7.24
8.51
6.80
7.31
10.54
13.33
9.48
9.43
10.09
6.01
6.75
6.67
3.31
7.34
5.33
13.23
15.73
15.00
14.76
17.46
16.92
(USD/kg)
Smoked Trout
Exports (quantity) Salmon and trout: Chile Jan-Jun 2010
2011
2012
2013
Japan
71.8
87.8
120.2
98.1
77.8
70.8
USA
23.1
29.2
49.7
64.8
71.9
70.8
4.2
4.2
7.1
18.4
16.6
14.4
6.77
7.91
6.90
5.95
9.82
7.05
Frozen
6.50
7.67
6.74
5.52
9.41
6.42
Fresh
7.63
8.72
8.33
7.85
11.46
10.46
Canned
8.66
10.74
0.00
0.00
0.00
0.00
EU-28
4.56
Lat. America
26.5
22.9
38.9
48.5
56.8
60.7
Faroe Islands
26.0
39.9
36.6
67.9
61.9
66.1
151.6
184.0
252.6
297.6
285.1
282.7
Salted Smoked Average
6.15
6.82
3.72
5.60
6.52
12.40
14.30
15.00
14.13
18.93
6.51
7.68
6.46
5.67
8.12
Source: Boletín de Exportaciones del IFOP
32
6.41
(1 000 tonnes)
Total Source: IFOP
Globefish Highlights October 2015
SALMON
8.5% less than the same period in 2014 in volume terms and 14% less in value. Significantly higher biomass and heavier fish in the pens than compared with this period last year should see prices remain relatively low for the time being, at least until seasonal demand kicks in at the end of the year.
Chile Salmon farmers has faced falling prices and the devaluation of currencies in target markets such as Brazil and Russia, as well as the advancement of Norway in the United States, one of the main markets for Chile in terms of exports (currently representing about 25% of shipments). During the first half of this year, the Chilean salmon industry has experienced a contraction of 21% in terms of value. According to the Association of Chilean Salmon Industry (Salmon hile), the value of shipments of salmon reached USD 1 814 million, compared with USD 2 312 recorded in the same period last year. The underlying cause is the weaker average price of Chilean salmon, which, according to data compiled by Infotrade, was at USD 6.41 per kg in June 2015, compared with USD 8.12 per kg in the same period of 2014. There was also a significant drop in Chilean salmon harvests. According to the Report on Fisheries and Aquaculture released by Subpesca, Atlantic salmon represented 47.5% of Chilean harvests during the first half of 2015. Total Atlantic salmon harvests totalled 205 900 tonnes, which means a drop of 32.8% compared with the first six months of 2014. As for rainbow trout, cumulative harvests up to June reached 8 300 tonnes, representing a drop of 87.8% over the figure recorded for the same period last year. Coho salmon harvests came to 14 700 tonnes, down by 67.2% over the same period of 2014. Some believe that the Chilean salmon industry is still capable of competing with European producers and overcoming the low prices and poor results suffered by some salmon farming companies during the first half of 2015.
UK Salmon production in Scotland reached record heights in 2014, at almost 180 000 tonnes. So far in 2015, however, results have not been as impressive. The number one market, the USA, have looked to Canada and Norway to supply the fresh whole segment usually sourced from the UK. A primary reason for this has been the relatively greater gains of the US dollar versus the krone and the Canadian dollar. However, UK exports to the EU, in particular France, have grown so far this year. On the market side, it seems more Scottish production is being diverted to the UK market this year, as import supply is down due to the Faroe Islands directing salmon traditionally headed for the UK to Russia instead. Import prices for fresh Atlantics into the UK are somewhat lower this year, while canned wild salmon prices are also Globefish Highlights October 2015
Exports Salmon: UK (by product and country) Jan-Jun 2010
2011
2012
2013
2014
2015
17.4
22.9
14.6
(1 000 tonnes) Fresh Whole USA
12.5
16.8
16.5
France
11.1
7.0
8.1
7.0
11.4
12.7
China
0.2
2.0
2.8
4.1
7.0
4.5
Faroe Islands
1.0
1.5
1.8
1.9
2.6
2.8
Poland
1.0
2.7
3.7
1.9
1.1
0.9
Germany
0.9
0.8
0.4
0.3
0.6
0.7
Others
2.7
2.5
4.5
6.5
5.8
2.9
29.4
33.3
37.8
39.1
51.4
39.1
Ukraine
0.0
0.0
0.5
0.7
0.8
0.7
France
0.9
1.5
0.7
0.5
0.8
0.6
Total Frozen whole
Russian Fed.
1.6
0.7
1.7
0.4
0.5
0.0
Others
0.8
1.5
1.2
1.4
1.7
2.0
3.3
3.7
4.1
3.0
3.8
3.3
0.0
0.0
0.0
0.3
0.2
0.8
Total Canned Viet Nam Ireland
0.5
0.5
0.4
0.3
0.3
0.3
Others
0.2
0.1
0.4
0.2
0.2
0.2
Total Gr. Total
0.7
0.6
0.8
0.8
0.7
1.3
33.4
37.6
42.7
42.9
55.9
43.7
Source: Her Majesty’s Revenue & Customs
down, providing an opportunity for retailers to revitalize consumer interest in the product.
Markets The large emerging markets of Russia and Brazil, which have represented a significant proportion of growth in the global salmon market over recent years, are no longer such attractive prospects for Chilean and Norwegian exporters. It is again the US and EU markets that exporters must focus on if current production growth is to be absorbed. However, today’s demand trends in developed markets revolve around healthy lifestyle choices and a general aversion to overly processed food, which also present both challenges and opportunities depending on the capacity of the producer to target these segments. The inability to address consumer concerns over sustainability and quality standards can have serious consequences in today’s markets.
Russia Atlantic salmon has become a scarce species on the Russian market due to the country’s previous dependency on imported salmon. According to the Federal Customs Service, Russian imports of Atlantic salmon dropped to 30 000 tonnes in the first half of 2015, representing around 33
SALMON
half of the import volume observed over the same period in 2014. Russian imports from Chile included 19 000 tonnes of frozen salmon, while imports from the Faroe Islands included 8 200 tonnes of fresh salmon and 1 800 tonnes of frozen salmon. At present, the Faroe Islands is the only supplying country of fresh Atlantic salmon after the inclusion of Iceland under the embargo in August 2015.
Imports Salmon: France Jan-Mar 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Fresh whole Norway
50.0
46.4
54.8
49.2
46.9
47.8
36.4
32.8
39.0
36.3
30.2
32.3 11.0
Pacific salmon species caught in the Russian Far East, however, have become more widely available in the stores of the big cities. Despite booming demand from Asian markets, some of the Russian fishing companies took a decision to support the domestic market by redirecting wild Pacific salmon to the central part of the country. About 3 000 tonnes of Pacific salmon species were distributed by trawlers from the Far East to northern Russia (Source: Murmansk). Delivering Pacific salmon by the Northern route led to a 20% decrease of distribution prices compared with the traditional distribution route.
Fresh fillets
France
Norway
4.8
5.1
7.2
8.2
7.0
6.9
Frozen fillets
9.9
10.3
8.9
11.1
11.3
8.7
The French market has remained stable in terms of import volumes so far in 2015, although prices are relatively lower for importers due to the appreciation of the euro versus the krone. The fall in the cost of raw material has been a positive development for French smokers, who have seen their margins squeezed in recent years by high and volatile salmon prices. Salmon has historically battled with cod as the top seafood item for French consumers, but has been hampered by negative publicity relating to farming practices.
Germany German consumers are eating more and more seafood, although their tastes are shifting away from traditional preserved products. A recent study by the Fisch-
Jan-Jun 2011
2012
Faroe Islands
8.5
8.8
9.5
8.4
11.6
1.5
1.1
1.2
0.9
1.0
1.4
1.3
1.1
1.1
0.7
0.9
1.3
Frozen Atl
2.0
4.3
0.5
0.4
0.4
0.4
Norway
0.4
2.7
0.2
0.1
0.1
0.0
Smoked Poland UK
2.9
3.2
3.9
3.9
3.2
3.6
2.1
2.4
3.1
3.1
2.2
2.3
0.3
0.3
0.2
0.3
0.3
0.3
5.4
5.5
8.0
9.5
8.4
8.9
Chile
2.4
2.0
2.7
4.4
3.4
2.8
China
3.7
4.5
3.0
2.4
2.8
2.1
Grand Total
73.5
72.1
78.2
76.1
71.9
71.9
Source: Direction Nationale des Statistiques du Commerce ExtĂŠrieur â&#x20AC;&#x201C; DNSCE
Informationszentrum, has shown that German shoppers are increasingly turning to the fresh and chilled seafood segment offered by discount retailers and as a result, frozen sales have taken a hit. Smoked salmon, generally imported from Poland, is still popular, however, and remains some distance ahead of fresh and chilled in terms of total import value.
Japan The yen has depreciated substantially this year, meaning that Japanese importers could not take full advantage of lower prices for Chilean coho and Alaskan sockeye which is in plentiful supply. Import volumes for the latter two
Imports Salmon: Germany (by origin) 2010
UK Frozen Pac
2013
2014
2015
(1 000 tonnes)
Imports Salmon: Germany (by product)
Norway
27.6
27.6
24.3
23.2
26.5
22.4
Poland
14.0
14.4
16.2
24.2
20.2
21.6
Denmark
4.7
4.9
4.4
5.4
11.9
10.1
China
8.5
8.8
7.4
5.4
7.7
6.2
Faroe Islands
1.1
1.1
0.9
1.5
2.2
3.8
Lithuania
1.6
2.9
2.7
2.0
3.2
3.1
Chile
1.1
1.2
0.8
3.9
4.5
2.6
Frozen salmon
2.7
2.3
1.6
2.6
3.5
2.3
15.3
17.7
15.9
18.4
17.7
19.0
Jan-Jun 2010
2011
23.2
24.3
2012
2013
2014
2015
30.9
26.4
(1 000 tonnes) Fresh salmon
21.4
20.5
UK
1.4
1.5
1.3
1.7
1.6
1.4
Smoked salmon
USA
1.0
1.5
0.6
1.1
1.3
1.3
Fresh fillets
4.1
3.5
3.6
4.6
4.5
6.8
16.7
16.1
12.9
15.8
17.8
15
Sweden
1.4
2.0
0.2
0.7
0.4
0.4
Frozen filltes
Others
1.7
0.9
0.9
1.6
2.6
2.2
Salted salmon
Total
64.1
Source: Statistics Germany
34
66.8
59.7
70.7
82.1
75.1
Total
1.1
2.2
3.0
7.2
5.2
2.9
64.1
66.8
59.7
70.7
82.1
75.1
Source: Statistics Germany
Globefish Highlights October 2015
SALMON
species have recovered somewhat after the low levels recorded last year, while demand for fresh whole Atlantics has remained stable. An important recent development for the Japanese salmon market is the new trans-pacific partnership, signed by Japan and many other Pacific Rim countries, as it will eliminate 95% of tariffs on seafood products including certain tariffs on frozen salmon products.
Imports Salmon: Japan 2010
2011
2012
2013
2014
2015
(1 000 tonnes) 10.1
10.1
14.1
Norway
8.7
8.5
UK
0.2
0.3
Faroe Islands
0.6
2014
2015
Chile
10.5
17.8
29.5
42.5
48.3
48.0
Norway
13.4
5.3
2.0
2.3
5.7
7.5
Canada
3.9
3.0
1.8
3.2
2.0
3.1
Fresh fillets
4.0
6.3
5.1
5.9
7.7
5.3
Total fresh fillets
31.8
32.4
38.4
53.9
63.7
63.9
Frozen fillets
28.6
30.4
28.0
34.2
38.4
36.3
2.0
1.9
2.6
2.5
2.2
3.1
Smoked Salted
0.0
0.0
0.0
0.0
0.0
0.0
116.4
112.6
137.1
149.1
154.9
172.1
Source: NMFS
10.2
13.0
9.5
8.6
9.3
0.3
0.3
0.2
0.2
M ar k et focus
0.8
0.6
0.5
0.2
0.4
Research on salmon consumption in India
10.5
10.5
14.4
11.5
9.7
10.2
0.5
1.0
1.1
0.4
0.8
0.8
Norway
0.2
0.6
0.4
0.2
0.1
0.4
0.1
0.1
0.6
0.1
0.5
0.2
Denmark
2013
9.5
Chile
0.2
0.3
0.1
0.1
0.1
0.1
59.8
74.9
91.1
88.9
61.1
67.1
Chile
53.6
67.5
85.6
78.8
55.3
59.9
USA
2.9
3.2
2.1
0.9
1.0
3.4
Russian Fed.
1.7
2.5
2.8
7.2
4.6
3.2
Pacific
2012
11.1
Frozen** Atlantic
2011
All salmon
Fresh *
Total fresh
Jan-Jun 2010
Faroe Islands
Jan-Jun
Atlantic
Imports Salmon: USA
Canada
0.3
1.0
0.3
0.6
0.1
0.3
New Zealand
1.2
0.7
0.3
1.5
1.4
0.2
Total frozen
60.3
75.9
92.2
89.3
61.9
67.9
Grand Total
70.8
86.4
106.6
100.8
71.6
78.1
Source: Japan Customs
Outlook The economic outlook for the EU has improved, while retail spending is being boosted by good growth in the USA, and it appears these two markets will continue to be the main focus of exporters for the foreseeable future. However, exchange rate dynamics will continue to be another key influencing factor in determining US supplier composition, while the significant shifts in large US retailer sourcing strategies is set to hit Chile hard. Consolidation is an important step in addressing Chile’s issues, but neither Japan nor Brazil represent very stable alternative markets to the USA at present and such activity will be limited until a clearer picture emerges. In contrast, the outlook for European producers remains positive so long as production costs can be kept under control, with relatively low supply growth expected and prices forecasted to remain high for at least the next two years. Globefish Highlights October 2015
I
nfoFish reports that Pescafresh and the Norwegian Seafood Council have partnered to conduct consumer research on the consumption of salmon in India. Impressed by the success of Pescafresh in becoming the leading retailer of fresh salmon in India, the Norwegian Seafood Council has decided to partner with the company to conduct an in depth analysis and research on the salmon consumption patterns among Indian consumers to study the potential of the Indian market. Source: InfoFish
R ecent news Consumers push Costco to commit against selling GM salmon if approved
I
ntrafish reported in September that more than 8 000 people plan to send Costco, a large US retailer, letters pushing them to commit against selling genetically modified (GM) salmon. This development comes as part of a call to action against GM salmon organized by Friends of the Earth and its allies, pending GM salmon’s approval by the US Food and Drug Adminisration (FDA). The FDA is currently considering GM salmon’s approval. If approved, this would be the first genetically engineered animal allowed by regulators to enter the US food supply, and it would likely not be labeled. After a June rally, Costco responded that it does not plan to sell GM salmon, but “left open the possibility that it may sell GM salmon if approved by the FDA,” according to Friends of the Earth. More than 60 retailers have committed to not sell GM salmon, including Target, Whole Foods, Trader Joe’s, Safeway and Kroger. Fishermen, Costco customers and activists petitioned Costco with more than 300 000 signatures during a rally in June 2015. Source: SeafoodSource.com 35
SMALL PELAGICS Mackerel and herring stocks in the North Atlantic are in good shape, however ICES advises a precautionary approach
2.3
2.7
5.6
1.4
7.2
5.1
Japan
3.2
2.6
9.5
6.7
5.2
3.5
Ghana
0.0
0.1
0.0
2.4
0.1
2.7
Viet Nam
0.0
0.0
0.4
1.4
1.4
2.6
Egypt
0.3
0.0
0.3
0.6
0.0
2.5
Lithuania
0.2
1.3
3.6
3.5
4.1
2.1
Poland
3.6
3.8
2.7
2.0
3.8
2.1
Belarus
1.2
1.2
1.0
1.1
0.4
2.1
Romania
0.7
0.1
0.2
0.5
0.8
1.8
Kazakhstan
0.2
0.3
0.4
0.5
0.1
1.5
Ukraine
3.1
4.3
3.7
5.6
1.8
1.1
Russian Fed.
9.1
10.7
12.7
8.1
5.0
0.0
Others Total
2.3
5.7
8.9
7.2
7.6
10.4
42.6
58.1
77.1
59.1
69.9
73.6
Source: Statistics Norway
36
Norwegian frozen mackerel export prices 40.00
35.00
30.00
> 600 gr
25.00
20.00
15.00
10.00
< 600 gr 5.00
0.00 Jun '15
1.9 4.2
Aug '15
6.4 1.7
Apr '15
3.0 0.3
Feb '15
Republic of Korea Netherlands
In an agreement between Norway and the EU, Norway
Oct '14
7.7
Dec '14
13.2
Jun '14
9.8
Aug '14
15.0
Apr '14
9.4
Feb '14
6.6
Oct '13
China
Dec '13
8.0
Jun '13
14.8
5.4
Aug '13
11.1
Apr '13
1.1 4.9
Oct '12
3.9 8.7
Feb '13
2.9 7.6
Dec '12
0.3 8.5
Jun '12
Nigeria Turkey
Aug '12
2015
Apr '12
2014
Feb '12
2013
Oct '11
2012
(1 000 tonnes)
Dec '11
2011
Jun '11
2010
Aug '11
Jan-Jun
Norwegian mackerel exporters are now focusing on a new market, the USA. After a market research tour of the USA earlier this year, sales organization Norges Sildesalgslag (Norwegian Herring Sales Organization) have concluded that there are ethnic markets in the USA that are worth targeting with Norwegian mackerel. For example, the Korean supermarket chain H-Mart has run a campaign for Norwegian mackerel that was highly successful. This success has also led the sales organization to believe that there may be several other ethnic market niches in the USA for Norwegian herring, for example for example the Russian, Polish and German market niches.
Apr '11
Exports Frozen mackerel: Norway
Norwegian frozen mackerel export volumes increased by 4.6% during the first half of 2015, to 831 348 tonnes. However, the export price declined from NOK 11.89 per kg to NOK 10.63 per kg, and this resulted in a decline in the export value by -6.4%. The largest market, Nigeria, increased its share of Norwegian frozen mackerel exports from 15.9% to 20.1%. Norway also increased shipments to Turkey (+48%) and the Republic of Korea (+107%), while exports to markets such as China, the Netherlands and Japan declined.
Feb '11
The Norwegian Institute of Marine Research also reported that while mackerel stocks in the North East Atlantic are strong, they have registered a significant reduction in the average size of the fish from 2005 to 2013. Indeed, an eight year-old mackerel in 2013 weighed the same
Trade
Oct '10
The Norwegian Institute of Marine Resources recently reported that they, together with Icelandic and Faroese researchers, have registered a decline in the Northeast Atlantic mackerel stock. In 2013, the stock was estimated at a record high level of 8.8 million tonnes. This estimate was increased in 2014 to 9 million tonnes, but reduced after this yearâ&#x20AC;&#x2122;s surveys to 7.7 million tonnes. Several reasons for this reduction have been given, including differences caused by research methods. However, it could be that there has been an actual stock reduction, in spite of good recruitment. In 2014, 1.4 million tonnes were caught, which was far above the catch advice from ICES, which initially recommended 890 000 tonnes, but increased this to 1.01 million tonnes later. For 2015, ICES reduced its catch advice to 906 000 tonnes.
as a four year-old fish in 2005. The researchers point out that this could be generally caused by the fact that the mackerel stock is now greater, and thus there is less food for each individual. It could also be linked to large herring stocks, which compete with mackerel for food (Source: FiskeribladetFiskaren).
Dec '10
Mackerel
NOK/kg
T
he Russian import ban continues to have an effect on international trade, as Russian domestic landings are replacing imports, especially those from Iceland.
Source: NSC
Globefish Highlights October 2015
SMALL PELAGICS
will be granted duty free exports of mackerel to the EU. However, the agreement is still to be ratified by the European Parliament, and the Scottish mackerel industry is protesting vehemently. The Scottish mackerel industry argues that it would be undermined at a time when traditional markets for Scottish mackerel like Russia, Turkey and the Ukraine are virtually closed to Scottish traders. Demand for horse mackerel products from Europe is very good in Japan at the moment, though supplies are tight. Japanese imports of horse mackerel from European sources (mainly the Netherlands and Norway) are expected to decline by 20% compared with last year due to the tight supply situation. Consequently, prices for these products on the Japanese market are strong. German imports of frozen mackerel during the first quarter of 2015 fell by a massive 30%, to just 5 200 tonnes. The main supplier, the UK, saw a drastic reduction in their shipments from 3 800 tonnes in 2014 to just 1 900 tonnes in 2015. Ireland also suffered a heavy reduction. Nigerian imports of pelagics have been relatively unstable
Imports Small pelagics: Germany Jan-Mar 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Frozen Mackerel UK
1.1
3.6
5.7
5.4
5.1
3.1
Ireland
3.1
2.8
2.2
2.7
2.3
1.3
Netherlands
2.5
3.1
3.0
1.9
2.0
0.9
Poland
1.4
1.8
0.2
0.6
0.9
0.9
Faroe Islands
0.3
0.9
1.5
0.7
0.0
0.7
Denmark
1.7
1.9
0.8
0.6
0.4
0.4
Others
1.6
1.6
0.5
0.8
1.4
0.8
11.7
15.7
13.9
12.7
12.1
8.1
Total
Frozen Herring Fillets Norway
9.1
5.8
6.2
3.3
4.8
2.0
Denmark
0.9
0.9
2.8
2.6
2.4
1.8
Netherlands
0.6
0.7
0.6
0.6
0.7
0.6
UK
0.0
0.1
3.3
2.4
1.1
0.4
Iceland
0.3
1.2
0.6
1.0
1.1
0.1
Others
0.5
0.4
0.4
1.3
0.1
0.6
11.4
9.1
13.9
11.2
10.2
5.5
Morocco
3.0
1.9
2.0
2.2
2.0
2.0
Netherlands
0.5
0.4
0.2
0.2
0.4
0.5
Peru
0.4
0.3
0.9
0.5
0.5
0.3
Others
0.3
0.4
0.2
0.2
0.2
0.3
Total
4.2
3.0
3.3
3.1
3.1
3.1
Total Canned sardines
Globefish Highlights October 2015
over the past few years. This is due to the fact that the government changes the import quotas dramatically from time to time. For instance, in 2013, Nigerian authorities reduced the quota and pelagic imports fell to 497Â 000 tonnes. Then, in late 2014, the import quota was suddenly increased to 750 000 tonnes, but importers did not manage to fill the quota. The demand appears to be huge, though this is less of a factor as imports are so strongly dependent on the quotas.
Prices Icelandic mackerel prices dropped markedly after the Russian ban on imports from Iceland was announced, by as much as 20%. At the beginning of the season, Icelandic fob prices for 300-500 g mackerel were USD 1 500 per tonne. Currently, the price is around USD 1 200 per tonne. However, these low prices are not expected to last. The main reason for the sudden drop was that large quantities were ready to be shipped to Russia, and when the ban was imposed, exporters had to find new markets quickly, therefore accepting lower prices. In contrast, Faroese mackerel prices have remained stable. Undercurrent News reports that the prices in September for 300-500 g mackerel was quoted at USD 1 300 per tonne, while larger sizes (400-600 g) are running USD 1 400â&#x20AC;&#x201C;1 500 per tonne. Norwegian mackerel fishermen report strong prices in September. Fishing in the Norwegian Sea was good and the average price paid to the fishermen was NOK 9.56 (USD 1.20) per kg. As is normal, prices have edged upwards towards the end of the season, and it is expected that they will remain at this level until the end of the season (Source: FiskeribladetFiskaren).
Herring The Norwegian spring-spawning herring (NVG herring) stock is increasing after declining for several years, according to Norwegian fisheries researchers. The spawning stock in 2016 is expected to amount to almost 3.6 million tonnes, well above the critical level of 2.5 million tonnes, but still below the desired 5 million tonnes. Thus, although ICES has increased the suggested quota from 283 013 tonnes in 2015 to 316 876 tonnes in 2016, they are still advising a cautionary approach. The Russian market for small pelagics is rather turbulent as a result of the import ban affecting several major suppliers, such as Iceland and Norway. It is obvious that a greater dependence on Russian domestic suppliers has occured, and the Russian domestic fleet will thus determine prices. However, when Russian suppliers attempted to increase prices at the time when the Iceland ban was rumoured, buyers reacted negatively. Prices to the domestic fleet have on average been about 20% lower than prices for imported Icelandic herring. Last year, the Russian domestic herring supply increased by 6.3% to almost 400 000 tonnes. However, this increase was only possible because Russian herring exports were reduced by 32%, to 171 000 tonnes (Source: Undercurrent News). 37
Small pelagics Norwegian frozen herring export prices
Exports Frozen whole herring: Norway
18.00
Jan-Jun
16.00
2014
2015
14.00
Frozen fillets
(1 000 tonnes)
13.3
5.5
Kazakhstan
6.1
4.4
1.6
1.1
1.8
4.1
Poland
3.0
1.8
2.1
2.0
1.3
1.8
Latvia
2.8
1.9
1.8
2.2
4.1
1.6
Belarus
2.4
2.1
0.7
0.1
0.5
1.4
Nigeria
62.3
43.2
4.2
2.9
0.5
0.8
Belgium
2.1
0.9
0.7
0.5
0.7
0.8
Germany
2.2
3.2
2.5
1.8
1.6
0.6
UK Russian Fed. Others Total
5.7
1.6
0.4
0.2
0.2
0.5
79.4
44.0
36.7
27.0
27.2
0.0
8.3
9.9
6.8
5.7
3.1
3.5
261.0
183.5
119.6
87.0
80.0
44.6
Source: Statistics Norway
Herring supplies from other main suppliers, such as Norway and Scotland, have been diverted to Asian markets because of the Russian ban on western products. Traders in Russia are now worried that there may be a shortage of herring during the coming months. Russian fish imports from Iceland during the first six months of 2015 amounted to 37 600 tonnes, which accounted for 14.4% of the countryâ&#x20AC;&#x2122;s total fish imports. This is a significant reduction from 2014, when total imports from Iceland amounted to some 125 000 tonnes, of which herring constituted 66 200 tonnes. Russian domestic landings of mackerel by mid-August 2015 amounted to 114 000 tonnes, while landings of herring at the same time stood at 171 000 tonnes and capelin landings at 41 000 tonnes. Landings of Pacific herring are expected to be about 300 000 tonnes this year. Russian authorities (the federal fisheries agency Rosrybolovstvo) are predicting that total Russian Pacific herring catches this year will total roughly 422 000 tonnes, which is 16% above last yearâ&#x20AC;&#x2122;s landings. (Source: FiskeribladetFiskaren).
Trade Norwegian exports of frozen whole herring fell dramatically during the first half of 2015 compared with the same period in 2014. A total of 44 600 tonnes were exported, compared with 80 000 tonnes in 2014 (-45%). Practically all markets, except Egypt and Kazakhstan, imported less round frozen Norwegian herring. The most dramatic reductions were seen in the largest markets, Russia, where exports went from 27 200 tonnes to zero, Lithuania (-58.6%) and Ukraine (-48.1%). 38
6.00
Whole frozen 4.00
2.00
0.00
Jun '15
10.5
Aug '15
12.1
Apr '15
10.0
Feb '15
12.6
Dec '14
Lithuania
8.00
Jun '14
7.0
Oct '14
13.5
Apr '14
15.7
Aug '14
28.3
Dec'13
30.8
Feb '14
37.3
Oct '13
Ukraine
10.00
Jun '13
7.4
Aug '13
9.4
Apr '13
7.9
Feb '13
7.5
Dec '12
13.6
Jun '12
15.0
Oct '12
Netherlands
Apr '12
9.6
Aug '12
2.8
Feb '12
9.4
Oct '11
14.2
Dec '11
16.1
Jun '11
21.8
Oct '10
Egypt
NOK/kg
12.00
Aug '11
2013
Apr '11
2012
Feb '11
2011
Dec '10
2010
Source: NSC/Central Bureau of Statistics, Norway
Exports Fresh and frozen herring: Netherlands Jan-Jun 2010
2011
2012
5.8
6.9
9.2
Nigeria
21.1
10.6
China
10.1
7.1
Lithuania
0.2
Germany UK
2013
2014
2015
22.1
38.5
22.8
25.1
19.4
17.1
14.4
7.0
7.1
12.3
5.0
0.4
1.8
0.7
0.8
0.9
2.0
1.3
3.0
3.1
0.9
0.8
0.4
1.0
0.5
2.4
0.5
0.8
(1 000 tonnes) Egypt
Others Total
3.4
2.8
3.1
5.6
8.8
9.5
43.0
30.1
49.7
60.4
78.9
54.2
2014
2015
Source: German Customs
Imports Fresh and frozen herring: Japan Jan-Jun 2010
2011
2012
2013
(1 000 tonnes) USA
15.2
16.9
11.7
11.3
18.7
12.3
Russian Fed.
4.1
3.1
3.5
4.1
3.7
2.5
Canada
0.0
0.0
0.1
1.2
2.7
2.5
Norway
2.7
2.6
1.6
1.9
1.9
1.8
Netherlands
0.6
0.2
0.4
0.3
0.3
0.1
Others Total
0.7
0.2
0.1
0.1
0.7
0.1
23.3
23.0
17.4
18.9
28.0
19.3
Source: Japan Customs
The Netherlands also experienced a drop in herring exports during the first half of this year. Exports of fresh and frozen herring from the Netherlands declined by 31.3%, to 54 200. Exports to the main markets declined markedly: Egypt -40.8%, Nigeria -15.8% and China -59.3%. Japanese imports of herring also declined during the first half of 2015, by as much as 31%. Japanese imports Globefish Highlights October 2015
SMALL PELAGICS of fresh and frozen herring declined from 28 000 tonnes in 2014 to 19 300 tonnes in 2015. The main supplier, the USA, shipped 12 300 tonnes or 64% of total imports, but registered a 34% decline in shipments.
Prices Norwegian export prices for whole frozen herring and frozen herring fillets are now showing an upward trend. Since the end of 2011/beginning of 2012, Norwegian herring export prices were on a downward trend, but in 2015 this has turned around. There was the normal seasonal jump in prices of whole frozen herring in June, but since then prices have been considerably higher than in recent years. Prices for frozen herring fillets also made a jump upwards in 2015.
Sardines and anchovies The El Niño is beginning to have an effect on the anchovy biomass off the coast of Chile and Peru, according to reports from the Multisector Committee of the National Study of El Niño Phenomenon (ENFEN) in Chile. IMARPE reported in early September that the anchovy stocks have moved southward along the coast of Peru as a result of El Niño. Preuvian researchers expect that Peru’s
Imports Canned sardine: USA Jan-Jun 2010
2011
2012
2013
2014
2015
(1 000 tonnes) Canada
3.1
3.0
2.0
1.6
2.5
2.6
Morocco
1.9
1.7
1.7
2.2
2.0
2.3
Thailand
2.5
2.3
3.5
2.6
2.1
1.8
Poland
1.9
2.9
2.0
2.9
1.9
1.8
China
0.7
0.8
1.5
0.7
1.3
1.8
Ecuador
1.6
1.1
2.2
2.1
2.3
1.2
Philippines
0.8
1.3
1.0
0.8
1.1
1.0
Others Total
1.6
1.4
1.7
1.6
1.9
1.9
14.1
14.5
15.6
14.5
15.1
14.4
Source: NMFS
SARDINE- Fresh whole - in Italy, origin: Europe EUR/kg
1.37
Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14
2.00 1.75 1.50 1.25 1.00 0.75 0.50 0.25 0.00
Source: European Price Report
Globefish Highlights October 2015
anchovy landings may be reduced by as much as one half in 2016. Peruvian fishmeal producers are understandably concerned that supplies of anchovies for fishmeal production may be reduced by the end of 2015. So far, Peru’s anchovy fishery has not been affected, but it is feared that the El Niño effect will be greater towards the end of the year. The start of the second fishing season for 2015 in the Central/North region was recently authorized in early November by the Peruvian Ministry of Production to begin on 17 November. The total limit of permissible capture (LMTCP) for the resource for indirect human consumption in the center-north zone was set at 1.11 million tonnes through 31 January 2016. The International Council for the Exploration of the Sea (ICES) has recommended a drastic cut in the quota for sardine fishing in Iberian waters. ICES recommends the quota be cut to 1 587 tonnes, which is estimated to be about 10% of the TAC of 16 000 tonnes authorized for 2015. For Portuguese fishermen, this is almost the same as a total ban (Source: FIS.com). In Chile, the anchovy fishery resumed on 20 July after 38 days of inactivity. The Centre for Applied Research of Marine Affairs (CIAM) stated that the fishery was resumed in a controlled way, but with 50% of its normal capacity.
Trade German imports of canned sardines remain level with import volumes last year. In the first half of 2015, Germany imported 3 100 tonnes, exactly the same as during the same period in 2014. The main supplier was Morocco, which accounted for almost 65% of total imports. Imports of canned sardines into the USA were just slightly down during the first half of 2015 compared with 2014. Total imports amounted to 14 400 tonnes, with the main suppliers as Canada and Morocco, both experiencing growth in their shipments to the USA.
Outlook In the North Atlantic, mackerel and herring stocks are in general at healthy levels, but mackerel quotas will be reduced for 2016. ICES is advising a cautionary approach with regard to quotas, but is still recommending a 12% increase in the 2016 mackerel quota. The Russian import ban that is affecting several western countries is having a marked effect both on suppliers and on the Russian market itself. There is some concern that the Russian market will be undersupplied in the months to come, although Russian authorities are trying to divert as much as possible of the domestic catch to the home market.
39
FISHMEAL AND FISH OIL Fishmeal and fish oil prices continue to rationalize while a strong El Niño will impact the entire sector soon
T
he start of the second fishing season for 2015 in the Central/North region was recently authorized in early November by the Peruvian Ministry of Production to begin on 17 November. The total limit of permissible capture (LMTCP) for the resource for indirect human consumption in the center-north zone was set at 1.11 million tonnes. The ministry indicates that this authorization applies to the area between the extreme northern border and the 16°00 south latitude (Ático – Arequipa). The ministry stated that the fishing season will conclude once the LMTCP has been reached or by 31 January 2016. Production For the first half of 2015, fishmeal production from the top five producing countries grew by a notable 24%. This growth is largely due to the fact that 85% of the Peruvian fishing season quota (2.58 million tonnes) had been caught by early June, and this quota itself is 65% more than the same quota in 2014. Compared with the production figure 4-5 years ago, 2015’s production is still low, clearly due to the cancellation of the second anchovy fishing season in 2014 based on negative findings by IMARPE on the anchovy biomass. European production of fishmeal fills this gap. Indeed, data from Statistics Iceland shows a 44% increase in pelagic landings when compared with the same period of the previous year, which includes capelin, herring and mackerel (Source: Undercurrent News). For fish oil, production dropped in most major producing countries for the first half of the year, except in Iceland. Production from Peru and Chile picked up slowly in the
Production Fishmeal: 5 major producers Jan-Jun 2010
The start of second fishing season for anchovy in 2015 in the Central/North region has been authorized
T
he Peruvian Ministry of Production authorized on the 4th November 2015 the start of the second fishing season of anchovy and white anchovy for 2015 to begin from the 9th working day from the publication of this resolution, which should be 17th November 2015 at 00:00 hours. The norm indicates that the LMTCP for the resource anchovy for indirect human consumption, corresponding to the present fishing season in the centre-north zone is of 1.11 million tons. The ministry indicates that this authorization governs between the extreme northern border and the 16°00 south latitude (Ático – Arequipa). The ministry stated that the fishing season will conclude once reached the total limit of permissible capture (LMTCP) or close by January 31st 2016. Source: iffo.net
40
2012
2013
2014
2015
(1 000 tonnes) 1 102
1 334
851
672
667
800
Denmark/Norway
Peru/Chile
350
166
74
153
186
233
Iceland
156
81
130
93
107
172
1 608
1 581
1 054
918
1 107
1 372
Total Source: IFFO
* these figures refer only to IFFO member countries
Production Fish Oil: 5 major producers Jan-Jun 2010
2011
2012
179
273
206
72
53
29
2013
2014
2015
147
197
130
42
47
40
(1 000 tonnes) Peru/Chile Denmark/Norway
recent N E W S
2011
Iceland Total Source: IFFO
22
35
44
27
16
36
274
361
278
216
289
237
* these figures refer only to IFFO member countries
first six months, however the total half-year volume is still 34% less compared with the same period last year. In the USA, based on the improved menhaden stock situation, the menhaden quota was raised by 10% from May onwards, which in the long-term will help with the fish oil supply.
Exports With effects from the 2014 cancellation of the second fishing season continuing in the first half of 2015, fishmeal exports from Peru dropped to 271 900 tonnes, which was almost half of the level for the same period in 2014. Worldwide the market was slow, as all of the major export destinations reduced their import volumes significantly. Neither Germany nor the UK imported any fishmeal from Peru during the first six months of the year. The decline of the Peruvian fishmeal supply will also continue to result in increased efforts to either diversify sourcing origins or seek new feed alternatives. Globefish Highlights October 2015
Fishmeal and fish oil Exports Fish oil: Peru
Exports Fishmeal: Peru
Jan-Jun
Jan-Jun 2010
2011
2012
2013
2014
2011
2012
2013
2014
2015
22.8
19.7
(1 000 tonnes)
(1 000 tonnes) China
305.1
453.1
426.1
165.7
316.8
235.6
Japan
51.8
34.3
58.5
20.0
37.6
6.7
Taiwan PC
13.7
17.7
31.4
4.2
16.2
5.7
Viet Nam
na
25.2
39.9
4.2
30.0
1.5
Germany
51.9
47.5
90.5
12.5
64.5
0.0
na
11.6
11.6
1.3
6.0
0.0
Others
109.1
70.8
7.9
33.1
63.4
22.4
Total
531.6
660.2
665.9
241.0
534.4
271.9
UK
2010
2015
Source: Produce
Denmark
7.6
Canada
10.4
5.1
16.3
1.9
0.9
3.8
Norway
7.8
3.0
13.6
1.2
3.8
2.9
China
21.2
45.5
10.3
8.7
8.6
*
1.3
3.9
2.0
Belgium
21.9
14.5
25.4
6.4
23.3
1.5
Chile
19.7
26.2
33.4
3.0
22.0
1.1
5.2
1.0
4.2
1.5
0.4
0.0
Others
Australia
11.9
15.7
7.3
4.2
7.7
1.9
Total
93.3
95.4
145.6
29.9
84.9
32.9
2013
2014
2015
Source: Produce * included under “others”
Exports Fishmeal: Chile
Exports Fish oil: Chile
Jan-Jun 2010
2011
2012
2013
2014
2015
Jan-Jun 2010
(1 000 tonnes) China
94.3
63.1
70.2
75.8
49.9
27.9
9.7
7.0
8.6
5.5
12.3
9.6
26.0
15.0
13.1
15.6
11.6
6.8
3.7
9.0
10.3
0.5
3.0
3.1
Republic of Korea Japan Germany Spain
14.2
9.3
8.8
6.5
10.7
2.9
8.6
7.0
7.1
5.5
7.2
1.0
Italy Others Total
40.1
23.2
42.8
31.4
43.6
37.1
196.6
133.7
161.0
140.8
138.5
88.4
Source: Produce
2011
2012
(1 000 tonnes) Japan
3.5
3.3
5.1
3.9
1.4
5.2
Denmark
4.0
0.0
0.0
0.0
13.7
4.1
China
8.8
2.8
3.5
5.3
0.6
1.1
Belgium
na
0.0
5.4
1.4
1.5
0.0
Norway
2.4
0.0
1.4
2.3
0.0
0.0
Others
7.8
18.7
7.1
25.9
25.2
27.8
26.5
24.7
22.5
38.7
42.4
38.3
2013
2014
2015 14.6
Total
Source: Boletín de Exportaciones del IFOP
Imports Fishmeal*: USA
Exports Fish oil: USA
Jan-Jun
Jan-Mar 2010
2011
2012
2013
2014
2011
Chile
7.8
5.7
7.6
7.0
15.7
Mexico
4.4
5.2
6.9
8.3
7.2
3.7
Canada
2.9
2.7
2.2
1.9
2.0
1.3
2015
(1 000 tonnes) Menhaden
9.8
3.4
0.4
6.8
7.8
0.9
Other
4.0
5.2
5.2
3.7
3.3
6.0
Total
13.8
8.6
5.6
10.5
11.1
6.9
Source: NMFS
In the case of fish oil, both Peru and Chile reported much lower levels of exports during the first half of the year. In addition to the reasons above, the increasing domestic demand for fish oil in Chile for their salmon farming sector contributed to the decline trend. Growing demand for fish oil for human consumption will remain strong worldwide.
Markets Although on the decline, fishmeal prices were still high in the first half of 2015 and due to this as well as low demand from China, the markets had been relatively quiet for the first half of 2015. As prices became further rationalized, countries began actively building up stocks. Globefish Highlights October 2015
2010
2012
(1 000 tonnes)
3.5
1.7
2.9
3.5
2.9
5.2
Total
Others
18.6
15.3
19.6
20.7
27.8
24.8
Source: NMFS
* excluding solubles
The UK largely imported fishmeal from Ireland and Norway during the first half of 2015, and therefore import volumes were not reduced as significantly as in other markets. For the first six months of the year, Germany increased import volumes from other sources, but with no imports from Peru, it imported only slightly over half of its import amount for the same time period in 2014.
Prices After fishmeal prices reached a record high in the second half of 2014, prices began decreasing in 2015 towards the 41
Fishmeal and fish oil
Imports Fishmeal: UK Jan-Jun 2010
2011
2012
2013
2014
2015
5.8
6.1
(1 000 tonnes) Ireland
9.6
1.2
3.8
6.8
Norway
2.4
3.1
0.1
1.1
3.4
5.7
Germany
6.8
6.1
4.3
3.9
5.5
1.9
1.3
1.4
6.0
3.3
1.1
1.9
Peru
Iceland
18.3
10.9
12.7
1.4
7.4
0.5
Denmark
15.9
9.9
1.1
4.4
2.6
0.5
Others Total
3.8
4.0
5.5
4.6
6.7
7.8
58.1
36.7
33.5
25.5
32.5
24.4
2013
2014
2015
Source: Her Majesty’s Revenue & Customs
Imports Fishmeal: Germany Jan-Jun 2010
2011
2012
Iceland
21.1
19.2
13.4
18.1
4.6
21.1
0.0
1.5
1.3
20.1
1.5
9.7
Denmark
6.3
10.2
2.7
14.0
10.9
5.2
Chile
0.0
9.1
7.7
0.5
3.0
3.1
France
1.5
1.6
2.5
8.6
1.8
2.3
Panama
0.2
0.0
5.5
0.9
1.3
1.4
South Africa
0.0
0.0
4.1
0.6
1.6
1.1
86.1
18.5
53.0
20.0
61.7
0.0
9.4
1.4
6.8
13.2
13.9
7.6
Total
124.6
61.5
97.0
96.0
100.3
51.5
Total
58.7
43.8
54.5
53.0
31.4
22.1
Peru Others
Fish oil prices had also witnessed a similar trend since late 2014, with prices lowering. However, beginning in June 2015 the prices have stabilized as the supply and demand gap is increasing as the result of a highly possible El Niño from the end of 2015 to early 2016. In line with the general trend of fishmeal prices, soymeal prices have remained low from the end of last year. For the past year, the ratio between the prices of fishmeal and soymeal has stayed around 4:1, which was quite attractive for feed producers looking for alternative raw materials.
Outlook
(1 000 tonnes) Morocco
and ample catch, the expectation for even lower prices has kept the market quiet for now. From the industry side, the expectation is that fishmeal prices will normalize with the first Peruvian fishing quota for 2015 set at 2.58 million tonnes, or 600 000 tonnes of fishmeal. Better catches of pelagics from Iceland also helped to ease the pressure on international prices.
Source: Germany Customs
Prices Fishmeal and fish oil prices Europe 3000
2500
It has become increasingly obvious that for the rest of 2015, the sector will repeat a similar trend to what happened last year, if not be impacted more this time around. To offset the tight supply situation, the first fishing season of 2015 exceeded the first season of 2014 by 65%. Despite these increased catch volumes, the northern-central anchovy stock biomass was 3.38 million tonnes, 48% lower than the expected biomass of 6.4 million, and 41% of it were juveniles, according to the latest study performed by IMARPE. Last year, the Kelvin waves of warm water were turned away by strong winds blowing from east to west last year, but this may not occur again, making for a super El Niño. With the dominating importance of Peruvian anchovy fishing in global fishmeal production, there is much uncertainty about the amount of anchovy to actually be caught out of the quota that was recently set for the second fishing season (at 1.11 million tonnes). With these developments, it cannot be expected that prices of fishmeal and fish oil will stay at their current low level for long.
USD/tonne
2000
1500
1000
500
Fish oil
Fishmeal
Oct-15
Dec-15
Jun-15
Aug-15
Apr-15
Feb-15
Oct-14
Dec-14
Jun-14
Aug-14
Apr-14
Feb-14
Oct-13
Dec-13
Jun-13
Aug-13
Apr-13
Feb-13
Oct-12
Dec-12
Jun-12
Aug-12
Apr-12
Feb-12
Dec-11
0
Source: Oil World
normal range of USD 1 600-USD 1 650, but the markets were not active in the first six months. Prices of fishmeal continue to rationalize from their peak level recorded last year. With the opening of the first anchovy fishing season 42
Despite efforts to explore other alternatives, such as trimmings from processing factories, vegetable oil and meal, insects, single-cell protein, recycled waste and algae, prices for fishmeal and fish oil will remain firm in the longterm. Whether prices will hike up to last year’s peak in the coming months will largely be influenced by how alternatives can be sourced and how the super El Niño will impact the aquaculture sector. In the long term, prices of fishmeal and fish oil will generally depend on how cost efficient alternatives can be produced on a large-scale with sustainable and regular raw material supplies.
Globefish Highlights October 2015
BIVALVES Drop in mussel and scallop trade, sales of oysters remain strong
I
n the first six months of 2015, international trade of both mussels and scallops experienced declines, though to differing degrees depending on the country. In most cases, this negative trade trend reflects a general decline in production, due either to bad weather or to adverse environmental changes (ocean acidification). By contrast, international sales of oysters in the first half of 2015 have been strong. Imports/Exports Mussel: World
Bivalves production by species (2013) Clams 4%
Jan-Jun 2014
Scallops 12%
2015
(1 000 tonnes) IMPORTS
Mussels 23%
Oysters 61%
France
29.1
30.7
Italy
20.6
21.1
USA
17.8
16.5
Spain
10.9
11.0
8.2
7.2
10.8
6.5
Germany Netherlands Belgium
6.5
5.9
Mussels
UK
3.1
2.5
Republic of Korea
2.4
2.0
World
Thailand
2.8
1.8
135.3*
121.5*
Chile
37.7
41.7
Spain
21.7
19.4
Netherlands
15.2
18.3
New Zealand
19.4
16.0
Denmark
Source: FAO
Global trade of mussels has slightly declined in the first half of 2015 compared with the same period in 2014. This drop is the result of declining landings observed in several leading mussel producing countries. In particular, exports from New Zealand, Denmark and Spain. Meanwhile, in other countries, such as Chile and the Netherlands, production and exports have grown, partially offsetting this drop.
Imports Mussels: EU-28 Jan-Jun 2010
2011
2012
2013
2014
2015
(1 000 tonnes) France*
37.1
32.7
30.7
27.9
29.1
30.7
Italy*
17.3
18.5
16.6
19.6
20.6
21.1
Spain*
10.8
13.8
9.6
13.6
10.9
11.0
5.7
9.6
10.9
7.0
8.1
7.2
10.4
10.0
12.5
11.1
10.8
6.5
Belgium
6.2
7.0
6.3
6.5
6.5
5.9
UK*
3.3
3.7
3.3
2.8
3.1
2.5
Portugal
1.6
1.9
1.2
1.7
1.5
2.1
Others
4.9
4.8
4.5
4.2
3.5
4.8
97.3
102.1
95.5
94.3
94.1
91.8
Germany* Netherlands
Total
Source: EUROSTAT and Customs*
Globefish Highlights October 2015
Total* EXPORTS
14.9
11.5
Italy
8.3
6.9
Greece
5.4
6.5
Canada
7.6
5.8
Ireland
4.9
5.5
China
4.1
3.8
149.9*
141.1*
68.6
65.5
Germany Total** Source: GTIS
* estimates - **selected countries
Europe In the first half of 2015, imports entering the EU have declined slightly by 2.4% compared with the same period in 2014. However, this trend varies significantly by country. Though volumes by the three top importers, France, Italy and Spain, show an increase, imports by smaller importers have declined notably; by -11% in Germany, -40% in the Netherlands, -9% in Belgium and -19% in the UK. 43
BIVALVES France In France, the four main suppliers of mussels, Chile, the Netherlands, Spain and Italy, maintained their market dominance, taking roughly a 78% share of the French market during the first half of both 2014 and 2015. When comparing the first half of the year over a longer time period (2010 to 2015), Irish exports to France have declined dramatically, from 6 800 tonnes in 2010 to 1 800 tonnes in the first six months of 2015. This reflects the drop in Irish production of mussels, from over 12 000 tonnes in 2011 to less than 3 000 tonnes in 2014 according to BIM (Source: 2014 BIM Annual Aquaculture Survey). Source: European Price Report
Italy Italian imports of mussels have slightly increased in the first half of 2015 compared with the same period in 2014 (+2.4%), with Spain maintaining its position as lead supplier, followed by Chile and Greece. Greece has quickly grown its sale volumes to Italy over the past five years, from 1 600 tonnes in the first half of 2010 to 4 800 tonnes in the first half of 2015. In terms of their own production, Italy is a medium-size producer of Mytilus galloprovincialis and has begun growing sales in the Spanish market, from zero in 2013 to 600 tonnes during the first half of 2015.
In the fast-growing oyster trade, the most remarkable trend observed in the first half of 2015 was the sharp rise in Chinese imports, with some 10 300 tonnes more imported than compared with the same period in 2014. Purchases of
Imports/Exports Oyster: World Jan-Jun 2014
Imports Mussels: Italy
IMPORTS
2010
2011
2014
2015
Spain
8.4
7.0
2012 9.7
Chile
4.4
6.3
Greece
1.6
Ireland
2013 10.1
9.9
8.9
2.8
4.4
4.8
2.6
3.3
3.8
0.8
0.5
0.2
Germany
0.3
0.3
New Zealand
0.2
Turkey Others
(1 000 tonnes)
China
0.7
11.0
Japan
5.0
8.2
USA
4.5
5.4
Hong Kong SAR
3.6
3.0
5.1
Italy
2.2
2.5
4.4
4.8
France
2.2
2.3
0.6
0.3
0.5
Spain
1.2
1.7
0.2
0.2
0.3
0.4
Canada
1.4
1.4
0.4
0.1
0.2
0.3
0.1
Taiwan PC
0.7
0.8
1.2
1.0
0.0
0.0
0.0
0.0
Belgium
0.8
0.7
0.3
0.2
0.2
0.5
0.6
1.3
Singapore
0.7
0.7
17.3
18.5
16.6
19.8
20.6
21.1
26.6*
31.3*
France
3.6
4.3
China
3.9
4.0
Ireland
2.7
2.7
USA
2.1
1.8
Canada
1.8
1.7
Republic of Korea
6.5
1.0
Mexico
0.7
1.0
Italy
0.5
0.6
Japan
0.8
0.6
Netherlands
0.5
0.6
34.7*
31.9*
Source: Eurostat
Denmark Denmark is another medium-sized producer of mussels and is turning towards organic certified production. According to an article published in World Aquaculture in September 2015, an expected 10% of the total production is currently generated by nine production units for a total volume of some 3 500 tonnes per year. Danish production of line mussels is concentrated in the Limfjorden (North West Jutland).
Total** EXPORTS
Total** Source: GTIS
44
2015 (1 000 tonnes)
Jan-Jun
Total
Oysters
* estimates - **selected countries
Globefish Highlights October 2015
BIVALVES
oysters on the international market by Japan and the USA have also climbed by 60% and 20% respectively.
France In October and November last year, French imports of oysters have partially compensated for the drop in domestic production due to the high mortality caused by a virus (see GLOBEFISH Highlights Issue No1, 2014). UK producers particularly found an important market in France. In October 2014, UK exports of live oysters were as high as 300 tonnes and in November 500 tonnes, while the average quantity for this time of the year is only about 50 tonnes.
Worldwide, the retail price for oysters has reached a historic high. Oyster growers worry about the expected consumer reaction to these high prices, especially in the coming period of traditionally high consumption.
Scallops Sales from the largest scallop producing countries have all declined in the first half of 2015, yet to varying degrees. The UK reported a -10% decline, the USA and China -15% and Peru a significant -30% drop.
Europe EU imports of scallops have dropped by 9.3% in the first half of 2015 compared with the same period in 2014. France remains the largest outlet, taking a 38% market share in the first six months of 2015, a slight decline compared with the 39.5% market share in the same period in 2014.
Imports/Exports Scallop: World Jan-jun 2014
2015 (1 000 tonnes)
Imports Scallops: EU Jan-Jun
IMPORTS China
22.5
45.9
USA
2010
2011
12.6
12.4
2012
2013
2014
2015
8.9
7.8
(1 000 tonnes)
16.3
12.1
France
9.0
8.0
Hong Kong SAR
5.0
5.6
Italy*
3.2
3.6
3.2
3.2
2.8
3.2
Republic of Korea
4.2
4.8
Netherlands
2.0
1.2
2.1
1.6
2.8
2.0
Italy
2.8
3.2
Spain*
4.3
4.0
2.6
3.4
2.1
1.9
Canada
3.0
2.4
Belgium
2.2
2.6
2.1
1.9
2.3
1.7
Malaysia
0.7
2.2
Denmark
0.5
1.2
1.4
1.4
1.1
1.0
Netherlands
2.8
2.1
Others
Spain
2.1
2.0
Total
Taiwan PC
2.0
2.0
Source : EUROSTAT and Customs
Singapore
1.2
1.8
Belgium Total**
2.3
1.7
84.3*
101.8*
EXPORTS China
France*
9.6
8.6
3.5
3.1
2.8
2.6
2.5
2.8
28.2
28.1
23.8
22.7
22.5
20.4
2013
2014
2015
5.5
6.8
Imports Scallops: France Jan-Jun
20.0
16.9
UK
5.7
5.1
USA
5.9
4.9
Peru
6.3
4.2
Canada
4.3
4.1
Netherlands
7.2
7.6
6.9
6.3
5.2
6.2
Argentina
2.9
2.4
Spain
7.1
6.4
7.1
4.9
6.9
6.0
Belgium
2.4
1.9
Italy
4.8
4.2
3.3
4.9
4.8
5.5
France
1.9
1.7
Denmark
1.2
0.4
0.6
1.2
2.9
2.1
Netherlands
2.3
1.6
Ireland
6.8
4.6
3.0
1.6
1.0
1.8
Hong Kong SAR
1.2
1.1
UK
1.9
1.6
2.0
2.8
1.2
1.3
Japan
1.0
1.1
Greece
0.8
0.8
1.2
1.3
0.5
0.6
Thailand
0.4
1.1
Others
1.2
0.9
0.9
0.8
1.1
0.4
58.2*
52.5*
37.1
32.7
30.7
27.9
29.1
30.7
Total** Source: GTIS
* estimates - **Selected countries
Globefish Highlights October 2015
2010
2011
6.1
6.2
2012
(1 000 tonnes) Chile
Total
5.7
4.1
Source: Direction Nationale des Statistiques du Commerce ExtĂŠrieur â&#x20AC;&#x201C; DNSCE
45
BIVALVES UK New conservation measures to protect the Scottish scallop stocks are due to take effect in the spring of 2016. The minimum landing size will be increased from 100 mm to 105 mm for most of the Scottish coast with the aim to protect the breeding stock. In addition, vessels will be restricted to eight dredges per side in inshore waters. In 2013, the value of landed king scallop reached GBP 32 million. The industry contributes additional amounts to the local GDP by production of value-added products as well as the local processing jobs the sector provides.
China Chinese imports of scallops continue to grow. The country’s imports have dramatically climbed by 104%, an increase of 23 400 tonnes when comparing the first half of 2015 with the same period in 2014. Looking at these same periods, Chinese exports dropped by 15.5%.
Clams, cockles, ark shells Based on preliminary figures, global imports of clams, cockles and ark shells have grown by +7% in the first half of 2015 compared with the same period the year before. Japan is the leading importer, purchasing 9 000 tonnes during the first six months of the year and is responsible for the worldwide increase in trade. In the same period,
RECENT NEWS Canada to increase TAC for Artic surf clam Fisheries and Oceans Canada has announced that the total allowable catch (TAC) for offshore Arctic surf clam (Mactromeris polynyma) will increase from 38 756 tonnes to 52 655 tonnes on the Banquereau Bank and Grand Bank. This new TAC will begin with the 2016 fishery and will not only allow new entrants into the fishery, but also for additional access to the quota for existing holders. To safeguard the sustainability of the fishery, department officials will work with industry to establish a dedicated scientific research program, as well as a rotational spatial management system for the fishery starting with the 2016 season. The surf clam fishery is estimated to be worth over CAD 60 million.
EU criticized for imposing minimum clam size The EU Commission reported in July 2015 that they have been criticized for imposing a minimum size for fishing clams in the Mediterranean. It justifies the new regulation: “It does not aim to ban but to preserve this delicious traditional dish. Legislation on minimum size seeks to preserve this vulnerable species and to ensure the maintenance of the stock in the future.” Source: European Commission
46
Imports/Exports Clam/Cockle/Ark Shell Jan-Jun 2014
2015 (1 000 tonnes)
IMPORTS Japan
33.1
42.2
Republic of Korea
35.8
35.1
Spain
11.9
13.5
USA
10.6
10.8
Italy
4.8
5.5
Portugal
5.2
5.4
China
4.1
2.4
Thailand
3.8
2.4
Singapore
2.5
2.3
Malaysia
2.6
1.8
Canada
1.6
1.7
Hong Kong SAR
1.8
1.4
121.6*
130.1*
China
78.7
84.5
USA
4.4
5.0
Republic of Korea
4.4
4.6
Italy
3.6
3.8
Portugal
3.6
3.7
Netherlands
3.4
3.5
Canada
3.8
3.2
Chile
1.6
2.1
UK
1.3
1.6
Turkey
1.3
1.3
Total** EXPORTS
Thailand Total* Source: GTIS
4.3
0.8
117.0*
121.2*
* estimates - **selected countries
exports from China, the world’s top exporter, have climbed by 7.4%.
Outlook Bivalve production can be praised as having one of the lowest carbon footprints in the food industry. A media company (MusselPower) will be launching a marketing project focused on this asset in the near future. The project will promote how mussels can be a sustainable meat alternative, pollution absorber and carbon holder in the fight against climate change. In the months to come it will be interesting to follow the development of Chilean and Greek mussel production and exports, the impact of high oyster prices on consumers in France, and Chinese imports of shellfish. Globefish Highlights October 2015
LOBSTER Growing demand for lobster
D
emand for lobster is growing in China, and US exports are being diverted to this well-paying market. At the same time, supplies have been tight due to a difficult winter and a poor start to the season in the USA. Consequently, prices are on the rise. Lobster production by species (2013)
Imports Lobster: World Jan-Jun 2010
Others 10% Norway lobster 17%
2012
2013
2014
2015
(1 000 tonnes) USA
American lobster 47%
Spiny lobsters (all) 26%
Supplies In the USA, Maineâ&#x20AC;&#x2122;s lobster season is booming this year, thanks to a number of factors such as careful management of the resource, clear regulations, and careful actions by the lobster fishermen. According to the Maine Department of Marine Resources, the harvest last year was 56 400 tonnes. The average price was USD 3.70 per lb (Source: FIS.com). While the Maine lobster resource is strong, the resource in the rest of New England is declining, according to the Chicago Tribune. In 2013, the number of adult lobsters south of Cape Cod had fallen to 10 million, which is just one fifth of the total in the late 1990s (Source: IntraFish). In Norway, lobster fishermen are complaining about poor catches this year. The season in Norway opened in September, and commercial fishermen are landing less than at the beginning of last yearâ&#x20AC;&#x2122;s season. One reason given is that there seem to be many more recreational fishers active in the lobster fishery this year. The lobster fishery is open to all in Norway, and many people catch lobster for their own consumption, thus putting extra pressure on the lobster population.
International trade International trade in lobsters is growing. Total world imports during the first half of 2015 showed a 15% increase in volume, to 71 400 tonnes. The largest importer was the USA, which accounted for 25 800 tonnes or 36% of all imports. Other major importers include China (7 700 tonnes), Italy (6 700 tonnes) and France (5 300 tonnes). All Globefish Highlights October 2015
2011
China
1.9
21.8
21.6
22.0
22.9
25.8
4.3
5.4
4.6
5.6
7.7
Italy
2.4
2.5
2.4
6.1
5.9
6.7
France
2.6
2.9
2.7
5.5
5.1
5.3
Spain
2.6
3.3
3.0
5.6
4.4
4.8
Hong Kong SAR
6.7
6.8
4.9
6.6
4.2
3.5
UK
0.7
1.1
1.0
2.4
2.2
2.8
Belgium
1.5
1.3
1.4
1.5
1.5
1.7
Japan
2.0
1.9
1.8
1.8
1.9
1.6
Republic of Korea
0.4
0.6
0.5
0.7
1.0
1.5
Taiwan PC Totals* Source: GTIS
1.2
1.1
0.9
0.8
0.8
1.2
45.2
52.1
30.6
65.4
62.0
71.4
* selected countries (estimate)
major markets for lobster showed an increase in imports in 2015. The main supplier to the USA is neighbouring Canada, which accounts for over 90% of US lobster imports. The EU, on the other hand, imported less during the first half of this year. Total EU imports dropped from 26 000 tonnes to 22 300 tonnes (-14.2%). The main suppliers were the USA and Canada, but the European market is characterized by being supplied by a wide variety of countries.
Prices The demand for American lobster (Homarus americanus) is growing, especially in China, and this is contributing to pushing prices upwards. In addition, somewhat abnormal ocean conditions have made supplies more difficult. The reason is that warm waters have arrived late off New England, thus keeping the lobster population away from the coast and delaying the smelting, which usually takes place in the summer. The growing demand in China is translated into increasing Chinese imports of lobster. According to the US Department of Agriculture, US exports of lobster to China in 2014 rose to 8 560 tonnes, and so far this year, exports are up by 15%. 47
LOBSTER Monthly New York wholesale prices for up to 1-1/2 lb live American lobster, in USD/lb
Imports Lobster (all product forms): USA Jan-Jun 2010
2011
2012
14.00
2013
2014
2015
12.00
(1 000 tonnes) 18.3
19.7
22.8
25.3
0.7
0.6
0.7
0.7
0.6
0.6
Nicaragua
0.4
0.6
0.6
0.7
0.6
0.5
Honduras
0.4
0.6
0.4
0.5
0.4
0.4
Others
2.0
1.9
1.2
1.3
1.4
1.2
Total
21.8
21.6
21.2
22.9
25.8
28.0
Source: U.S. Department of Commerce, Bureau of Census
10.00
8.00
6.00
4.00
2.00
lug-15
lug-14
gen-15
lug-13
gen-14
lug-12
gen-13
lug-11
gen-12
lug-10
gen-11
lug-09
gen-10
lug-08
gen-09
lug-07
gen-08
lug-06
Lobster prices in the USA are stable at a relatively high level. Demand has been good, while supplies are limited, and there is a high demand in China, which is diverting volume from the American market. Maine lobster prices were about USD 0.50-1.00 higher this year than a year ago. According to traders, the price is not expected to come down any time soon. It is more likely that prices will rise (Source: Undercurrent News).
gen-07
0.00
lug-05
Bahamas
17.9
gen-06
18.3
gen-05
Canada
Source: ITN
Imports Lobster: EU Jan-Jun 2010
2011
3.8
4.1
2012
2013
2014
2015
3.3
2.7
(1 000 tonnes)
Monthly ex-warehouse prices of frozen lobster tails in USA (8-10 oz/pc), Brazil, in USD/lb
USA
3.3
3.2
Canada
3.0
2.3
2.2
2.4
2.6
2.4
25.00
Mauritania
0.1
0.2
0.1
0.2
0.3
0.5
Nicaragua
0.1
0.2
0.1
0.3
0.3
0.4
20.00
Viet Nam
0.0
0.0
0.3
0.2
0.2
0.3
Bahamas
0.1
0.4
0.4
0.3
0.4
0.3
15.00
China
0.0
0.0
0.4
0.4
0.3
0.3
Others
5.8
4.9
18.3
14.8
18.6
15.4
12.9
12.1
25.1
21.8
26.0
22.3
Total
10.00
Source: GTIS 5.00
Outlook Supplies will be tight, while at the same time demand is growing, especially in China. Consequently, one must expect prices to rise.
lug-15
lug-14
gen-15
lug-13
gen-14
lug-12
gen-13
lug-11
gen-12
lug-10
gen-11
lug-09
gen-10
lug-08
gen-09
lug-07
gen-08
lug-06
gen-07
lug-05
gen-06
gen-05
0.00
Source: ITN
Monthly European lobster prices, live, origin: Ireland J
F
M
A
M
2007
35.00
32.00
31.00
23.00
NA
2008
30.00
NA
28.00
NA
19.00
2009
24.00
21.00
21.00
22.00
14.50
2010
24.00
20.50
21.00
23.00
23.00
J
A
S
O
N
D
15.00
NA
NA
21.00
23.00
33.00
NA
NA
14.00
15.00
16.00
17.50
22.00
14.50
12.50
12.50
12.50
14.50
15.00
22.00
13.50
14.00
14.00
14.00
15.50
18.00
24.00
J
(400-600 and 600-800 gr/pc in EUR/kg) NA
2011
28.00
24.50
24.50
22.50
15.50
15.50
15.20
14.50
14.00
16.50
18.00
26.00
2012
26.00
23.00
19.00
19.00
17.00
16.50
14.00
14.20
15.00
15.50
17.50
24.00
2013
28.00
25.00
24.50
26.00
24.50
20.00
14.00
14.00
16.50
16.50
16.50
21.00
2014
24.00
24.50
24.50
22.50
16.50
14.50
14.00
14.00
15.00
15.50
17.50
29.50
2015
32.00
27.00
NA
25.00
20.00
48
Globefish Highlights October 2015
CRAB Alaska’s snow crab quota cut by 40%
R
ecent surveys indicate a decline in the Alaska snow crab resource, prompting the Alaska Department of Fish and Game to reduce the quota for 2015-2016. In northern Norway, the king crab fishery was off to a very good start in September. Prices are strong and US prices are expected to rise.
Crab production by species (2013) Blue swimming crab 7%
Tanner crabs nei 4% Edible crab Dungeness crab 2% 2% King crab 1%
Others 84%
Supplies In Alaska, recent surveys done by the Crab Plan Team revealed declining snow crab stock in Alaska. The results of the survey showed a decline in the mature male biomass for red king crab and opilio crab, but a more mixed picture for bairdi and tanner crab. This survey is one of the inputs that is used to set the quotas for the next season. The Alaska Department of Fish and Game announced in October that the snow crab quota in the Bering Sea will be reduced by 40% for the 2015-2016 season. The quota is set at 40.6 million lbs (18.4 tonnes). This represents a reduction of approximately 12 250 tonnes compared with the previous season. The Bering snow crab fishery opened on 15 October and will run through 15 May 2016 (Source: Seafood.com). The start of the king crab season in the north of Norway caused a lot of optimism among crab fishermen. Prices Globefish Highlights October 2015
to the fishermen were very good at NOK 110-120 per kg (USD 13.00-14.60), and as a result, a number of vessels participated in this fishery this year. Another reason for the strong participation is that the authorities have introduced an “activity qualification” related to this fishery. Fishermen reported that not only was there an abundance of crab, but the size and quality of the crab were excellent this year. It is expected that landings will amount to between 1 700 and 2 000 tonnes for 2015 (Source: FiskeribladetFiskaren).
Markets Alaska crab fishermen and traders are complaining that illegally caught Russian crab is disrupting market conditions in the USA. The Alaska Bering Sea crab fishery in 2013 landed roughly more than 7 000 tonnes, valued at over USD 82.9 million. Alaskan crabbers are now claiming 49
CRAB
Imports Crab: World Jan-Jun 2010
2011
46.9
36.1
2012
2013
2014
2015
46.6
41.6
(1 000 tonnes) USA
36.3
37.5
China
18.6
20.0
23.1
29.7
27.8
27.4
Japan
24.1
18.7
20.3
19.2
21.7
15.0
Republic of Korea
19.7
19.0
16.3
15.5
16.6
17.8
Hong Kong SAR
3.8
4.4
3.2
4.1
4.2
7.3
Spain
5.3
5.2
5.2
4.7
3.6
4.2
France
4.8
4.6
4.4
4.0
3.9
4.3
Taiwan PC
4.4
5.1
4.5
4.3
4.4
4.5
Canada
3.3
4.2
5.7
5.4
5.5
4.4
Malaysia
2.2
2.4
1.9
3.7
2.7
2.9
Singapore
3.0
3.1
3.1
3.0
2.9
2.9
Indonesia
0.9
0.7
1.6
2.3
2.2
1.9
Thailand
2.1
1.5
1.6
1.3
1.5
1.9
El Salvador
0.0
0.0
0.0
0.0
0.0
3.1
146.5
132.0
131.1
142.1
150.5
147.5
Totals* Source: GTIS
* selected countries (estimates)
that the illegal Russian crab has made US crabbers lose USD 600 million worth of business since the year 2000. Illegal Russian crabs are not the only problem in the region, however. According to Russian sources, China has emerged as the new center of IUU crab fishing. The Russian authorities are now initiating talks with China regarding this problem. Illegal supplies of Russian crab to China have increased significantly in recent years.
shipments of live crab went to Japan. However, they are still facing some logistical challenges in order to step up exports. Other interesting markets for this product include the Republic of Korea and China. Norway exported 700 tonnes of live king crab and 460 tonnes of frozen king crab in 2014, at a total fob value of NOK 205 million (Source: Norwegian Seafood Council). Viet Namâ&#x20AC;&#x2122;s crab exports are growing. In 2014, exports grew by 6%, and amounted to USD 60.7 million. The main markets for Vietnamese crab were the USA, which accounted for 47% of shipments, followed by Japan, the EU, and China. While Vietnamese shipments to the USA, Japan and China went up in 2014, shipments to the EU declined by 12%.
Prices Blue crab prices in the USA have been dropping lately, but it is now expected that they will level off and perhaps start rising modestly. The main reason for this turn-around is the lack of supplies in September. Landings in Southeast Asia have been hampered by a strong El NiĂąo that is having a negative impact on blue crab fishing in the waters of Thailand, the Philippines and Indonesia. US king crab prices have been on an upward trend since early fall as supplies have been tighter, especially from Russia as they are diverting more product to the Chinese market. NMFS reports a 12.5% decline in US crab imports during the first seven months of 2015, from 8 015 tonnes in 2014 to 7 072 tonnes in the same period in 2015.
Imports Crab: USA Jan-Jun
International trade Norwegian crab exporters are now seeing a growing market for live king crab in Japan. Facilities for live storage and distribution within Norway have been set up, but traders are now looking into the possibility of long-distance shipments. During autumn, the first trial
Imports Crab: Japan 2010
2011
2012
2014
2015
12.5
13.6
12.7
17.2
10.4
5.4
USA
1.6
3.0
2.9
1.6
1.8
3.1
Canada
1.9
1.7
1.7
0.9
0.5
0.6
Others
25.9
27.1
2012
2013
2014
2015
25.5
30.1
(1 000 tonnes) Canada
28.1
36.4
Russian Fed.
7.8
6.2
6.1
6.1
6.8
6.5
Indonesia
4.5
4.0
5.6
5.6
5.0
6.4
China
3.6
4.6
5.4
5.4
4.5
6.1
Others
10.4
9.8
11.1
9.4
14.5
11.7
Total
52.2
51.7
56.3
62.9
56.3
60.8
Outlook
2013
(1 000 tonnes)
Total
2011
Source: NMFS
Jan-Jun
Russian Fed.
2010
1.8
1.3
1.6
1.3
1.9
1.6
17.8
19.6
18.9
21.0
14.6
10.7
The quota for Alaskan snow crab has been dramatically reduced for the coming season, and this will have an impact on price developments. King crab prices are continuing to rise. The near future will be marked by tight supplies and higher prices.
Source: Japan Ministry of Finance
50
Globefish Highlights October 2015
SPECIAL FEATURE Labour conditions in the fisheries and fish processing sector This Special Feature article is a first in a series focused on social issues in the fisheries and aquaculture sector
Article by María Martí Fluxa The views expressed in the article are those of the author and do not necessarily reflect the views of FAO GLOBEFISH
The international fishing industry provides food security and employment worldwide It is a fact that the seafood sector contributes to global food security, human welfare and economic prosperity and that this is especially relevant for many coastal communities in developing countries. However, certain segments of the industry continue to present extremely challenging work conditions. The fishing industry is also labour-intensive, in particular in harvesting and processing. Its profitability is therefore also linked to the level of labour costs, in addition to other input factors such as capital, energy, etc.. It is also a fact that production and post-harvest activities are often carried out in developing countries with low labour costs but where international labour standards are not always fully implemented.
The fisheries sector has amongst the highest occupational fatality rates in the world… Approximately 30 million fishers are working aboard 4 million fishing vessels operating in capture fisheries, 1.3 million decked and 2.7 million undecked vessels. According to estimates by The International Labour Organization (ILO) and United Nations Office on Drugs and Crime (UNODC), over 24 000 fishers lose their lives every year. States, fishing companies and fishers are all responsible for safety at sea. Safety at sea is dependent on vessel designs, equipment, training, physical demand and on workers’ rights on board fishing vessels.
… and it is too often associated with forced labour and human trafficking Migrant workers in particular can be deceived and coerced by criminal organizations to work on board vessels where economic exploitation, hazardous conditions, physical injury, psychological and sexual abuse can be common. They are recruited and brought into the country by brokers, which take a fee deducted from the workers’ wages. Most workers have agreed only verbally to their terms and are employed as undocumented workers. As a result, these crew members have no labour protection in the legal system, and in some cases work more than 20 hours a day, are threatened by violence and financial penalties, and at times have little chance of returning ashore. Their payment is based on a proportion of the catch, sometimes with Globefish Highlights October 2015
various arbitrary deductions the workers are unaware of.
Shore-based operations have their own labour issues Shore-based operations include work in ports, repairs, processing, and harvesting of shore-based living resources, for example from aquaculture. Fish production is largely seasonal, especially for wild-caught fish. As a result, fish processing can be extremely unpredictable. Fish processing factory owners, particularly in the developing world, have adapted to this unstable situation by using temporary labour and permanent positions in factories often represent less than 10% of the overall staff. Temporary labour is convenient for owners as they can be called on board when plenty of fish is available. Hiring is usually done on a daily basis with a daily salary. Generally, this type of work does not provide any social benefits, such as health care and pension rights. In some countries, temporary labour is not registered in the records of the processing factory, instead being hired from external labour agencies, which are sometimes organized formally as “cooperatives”. These cooperatives have people available to come for a job of one day and place workers in factories extremely quickly, meaning that workers have little time to get themselves organized. As the majority of the labour force in the fish processing are women, the fact that this labour is unplanned often leads to leaving children unattended, creating problems such as illiteracy due to missed days at school. In turn, crime among youth is generally high in towns with an important fish processing industry. In addition to the challenges related to the temporary nature of fish processing work, processing work can be physically difficult with health problems among workers being quite common. In general, fish processing is carried out standing, which leads to several health issues, especially back pain and blood circulation problems. Much of the processing could easily be carried out in a seated position, however seats would require additional space as well as incur costs for purchasing and cleaning. The continuous exposure to water also creates health problems such as arthritis, especially for female workers. The issue of migrant workers in the fish processing industry is relevant, especially in countries that are wealthier than 51
special feature
neighbouring countries and therefore attract immigrant labour. As migrant workers, sometimes these workers are not covered by national labour control and labour laws and are subject to longer working hours, fees deducted from wages, no benefits and in sometimes unsafe or hazardous conditions. As this issue generally does not affect nationals of the country, the labour authorities are often less vigilant than usual in their controls.
Most States have committed to promoting basic human rights Human trafficking is tackled by the Trafficking in Persons Protocol, a supplement to the United Nations Convention against Transnational Organized Crime (UNCTOC). It establishes policies, programmes and other measures to prevent and combat trafficking and protect and assist victims. The ILO has two conventions on forced labour (29 and 105), which members undertake to suppress the use of forced labour. Other related conventions deal with freedom of association (98), discrimination (111) and minimum age (138). They all are among ILOâ&#x20AC;&#x2122;s most ratified conventions.
Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries in the Context of Food Security and Poverty Eradication
These Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries in the Context of Food Security and Poverty Eradication have been developed as a complement to the 1995 FAO Code of Conduct for Responsible Fisheries (the Code). They were developed to provide complementary guidance with respect to small-scale fisheries in support of the overall principles and provisions of the Code. Accordingly, the Guidelines are intended to support the visibility, recognition and enhancement of the already important role of small-scale fisheries and to contribute to global and national efforts towards the eradication of hunger and poverty. The Guidelines support responsible fisheries and sustainable social and economic development for the benefit of current and future generations, with an emphasis on small-scale fishers and fish workers and related activities and including vulnerable and marginalized people, promoting a human rights-based approach. Full report available in 6 lanaguges at:
http://www.fao.org/fishery/ssf/guidelines/en 2014 52
The Maritime Labour Convention has been in force since August 2013 (and has been ratified by 65 countries), but expressly excludes vessels and fishers (art2.4). Fishing vessels are also excluded from the majority of provisions in the Convention for Safety of Life at Sea (SOLAS) and the International Convention on Standards of Training, Certification, and Watchkeeping for Seafarers (STCW Convention). The exclusion of fishing vessels and personnel from maritime safety standards and international conventions, or size limits aimed at large vessels tied to these requirements, also contribute to the vulnerability of fishers at sea (Fishwise 2014).
Although many in-force international conventions are applicable, the lack of specific regulation undermines prevention, detection and prosecution of these kinds of violations ILO has identified the need of sector-specific international regulation. In 2007 the International Labour Conference adopted the Work in Fishing Convention (188), which is supplemented by the Work in Fishing Recommendation (199). These standards apply to all fishers and fishing vessels engaged in commercial fishing activities and aim to establish a set of minimum requirements to be followed. These requirements represent a global labour standard that is flexible enough to be enacted by governments worldwide at all stages of development. The Convention 188 contains several provisions that, once in force and widely ratified, could significantly improve working and living conditions of fishers and help prevent and combat the worst forms of labour exploitation. The convention addresses the responsibilities of fishing vessel owners and skippers, recruitment, use of private employment agencies, written work agreements, payment, on board accommodation and food, requirements for crew lists, minimum age, occupational safety and health, social security, flag and labour inspections, medical examination and care, repatriation, hours of rest and other important areas. Although the ratification process has been slow (at the moment, only five countries have ratified the Convention and it requires ten to be enacted), it is expected to enter into force in the near future, as many countries are currently considering the ratification. The International Maritime Organization (IMO) has established two industry specific legal instruments: Standards of Training, Certification, and Watchkeeping for Fishing Vessel Personnel (STCW-F) and Safety of Life at Sea for Fishing Vessels (SOLAS-F). The 1995 STCW-F Convention sets the certification and minimum training requirements for crews of seagoing fishing vessels of 24 metres in length and above. It has Globefish Highlights October 2015
special feature
been ratified by 17 countries and entered into force in September 2012. The 1977 SOLAS-F Convention and its derived instruments (1993 Torremolinos Protocol and 2012 Cape Town Agreement) contain safety requirements for the construction and equipment of new, decked, seagoing fishing vessels of 24 metres in length and over, including those vessels also processing their catch. However, it has not been widely ratified and is not in force. Besides this international legislation, there are a variety of voluntary codes for guidance: • • • •
FAO-ILO-IMO Document for Guidance on Training and Certification of Fishing Vessel FAO Fisheries & Aquaculture Code of Conduct for Responsible Fisheries FAO-ILO-IMO Code of Safety for Fishermen and Fishing Vessels FAO-ILO Guidance for Addressing Child Labour in Fisheries and Aquaculture
While on board work has been regulated by IMO and ILO, the shore-based activities are ruled by the correspondent country laws and there is currently no specific framework
(with the exception of guidance in aquaculture).
The countries are not always able or willing to meet their current commitments At sea, flag States have primary responsibility to ensure compliance with international and national laws on board vessels flying their flag. However, some States are unable or unwilling to meet their monitoring, surveillance, control, and enforcement (MSCE) responsibilities, especially in the high seas. A flag of convenience (FOC) ship is one that flies the flag of another country other than the country of ownership. It is one of the simplest and most common ways to escape rigorous standards and regulations in their own home country. It can also mean poor labour standards, including the freedom to employ cheap labour, follow minimal regulations, pay low registration fees/taxes and avoid penalties. The International Transports Worker’s Federation (ITF) advocates that there should be a “genuine link” between the real owner of a vessel and the flag the vessel flies, in accordance with the United Nations Convention on the Law of the Sea (UNCLOS). They argue that FOC registries make it more difficult for unions, industry stakeholders and the public to hold ship owners accountable.
LEGEND English, E; Spanish, S; French, F; Chinese, C; Thai, T; Portuguese, P; Mandarin, M o : Independent Accredited: Third Party Certifier (TPC)
• : International
Organization for Standardization (ISO) Accredited
Source: Wilkings, A. 2012. Fisheries and aquaculture certification: Implications for Southeast Asia
Globefish Highlights October 2015
53
special feature
Multi-stakeholder initiatives have potential to impact working conditions Many international and national organizations address labour rights in the fishing sector (Seafish March 2015 Industry Briefing offers a detailed list). They work to spread information about human rights abuse and the ways to fight it. In addition to environmental issues, consumer concerns have recently begun to include questions regarding labour exploitations and disparity in food producing countries. A survey conducted by Fishwise shows this concern: 88% of consumers would stop buying a seafood product related to human rights abuse, and 70% would pay more for a certified product to be free from these abuses. Certifications present a market-based mechanism that can complement traditional regulations. These certifications are granted by private agencies that verify the product quality and/or the company processes. There are a number of certifications that are tailored specifically to fisheries or aquaculture, but are not focused on worker safety and human rights, instead focusing on sustainable environmental practices. The below table outlines some of the fishing certification schemes in relation to their certifying body and area of focus. One can see environmental aspects dominate their focus. There are certifications that generally address worker safety and human rights for various types of industries. Among them, there are more than ten that can apply to fisheries and mainly aquaculture: ‘Fair Trade USA’, ‘Fair for Life’, ‘Workers Health, Safety and Welfare certification by Global GAP’, ‘Naturland Wildfish’, ‘SA8000 – Social Accountability’, ‘ITF Blue Certificate’, ‘ISO26000’ and others. However, most of the widely known certifications in fisheries and aquaculture focus on environmental practices.
In conclusion… General awareness and conscience raising about labour issues in fisheries and shore-based activities is essential. If the citizens, electors and consumers are aware of this problem: •
• •
54
public opinion will foster international action, increasing chances of the adoption of comprehensive regulations; trustworthy distributors and producers will need to utilize specific certifications to verify good practices; poor practices of any value chain participant or stakeholder may be more effectively prosecuted.
Vigo Dialogue on Benefits of Decent Employment in Fisheries and Aquaculture held on October 9th, 2015 Key fisheries and aquaculture stakeholders from the private sector, government, civil society, and the media gathered to discuss priority issues, benefits, incentives and actions associated with labour conditions in the sector, in a consultative process termed the Vigo Dialogue which had been initiated already during the 2014 FAO-Conxemar Global Shrimp Congress. Among the issues discussed, the attendees emphasized their growing interest and opportunities for promoting social standards and certification for better and fairer practices in the sector (i.e. social labels with focus on ethical issues in fisheries including in particular on labour conditions). Explicit reference was made to social risk assessment in seafood sourcing and to corporate social responsibility and initiatives such as the Responsible Fishing Scheme, Business Social Compliance Initiative (BSCI), Global Social Compliance Programme (GSCP), Global Compact, Initiative Clause Sociale (ICS), Fédération internationale des ligues des droits de l’Homme (FIDH). It was however also noted that such initiatives should also consider, include and assist the huge numbers of small-scale fishers, fish farmers and post-harvest fish workers, as well as the needs and opportunities of employment creation and enterprise development. The session was attended by some 30 participants, and gathered representatives from private sector (Europeche, Pescanova, Carrefour, Regal Springs); governments (Argentina, Namibia, France and UK); fish worker unions and organizations (ICSF, IUF and ITF); certification (MSC) and media (Seafood Intelligence). Introductions to the session were presented by FAO and ILO.
As one of the follow-up actions, it was recommended that the Vigo Dialogue could be developed into a multi-stakeholder platform possibly facilitated by FAO. Going forward, the participants agreed to issue statements of intent on actions and measures to be undertaken for the improvement and promotion of decent work in the sector. For more information, please contact: decent-fish-work@fao.org Uwe.Barg@fao.org Jose.EstorsCarballo@fao.org Mariaeleonora.Dandrea@fao.org
Globefish Highlights October 2015
FISH
AND
FISHERY Capture fisheries production 2012
2013
PRODUCTS
Aquaculture fisheries production 2012
2013
STATISTICS Exports
2013
2014 estim.
Million tonnes (live weight equivalent)
1
Imports 2015 estim.
2013
2014 estim.
2015 estim.
USD billion
50.2
50.9
59.0
62.5
53.9
55.8
52.0
42.5
43.5
41.0
17.2
17.4
41.5
43.9
22.2
23.5
22.1
12.9
13.5
12.8
of which China. Hong Kong SAR
0.2
0.2
0.0
0.0
1.1
1.0
0.7
3.8
3.6
3.4
& Taiwan Province of China
0.9
0.9
0.3
0.3
1.8
1.8
1.6
1.0
1.2
1.2
India
4.9
4.6
4.2
4.5
4.6
5.6
4.9
0.1
0.1
0.1
Indonesia
5.8
6.1
3.1
3.8
3.8
4.2
4.0
0.4
0.3
0.4
Japan
3.7
3.7
0.6
0.6
2.0
1.9
2.0
15.3
14.8
13.5
Korea. Rep. of
1.7
1.6
0.5
0.4
1.8
1.7
1.6
3.6
4.3
4.5
Philippines
2.3
2.3
0.8
0.8
1.2
1.0
0.8
0.3
0.3
0.4
Thailand
1.7
1.8
1.3
1.1
7.0
6.6
5.7
3.2
2.7
2.4
Viet Nam
2.7
2.8
3.1
3.2
6.8
6.9
6.7
0.9
1.0
0.9
AFRICA
8.2
8.0
1.5
1.6
5.5
5.7
5.5
6.1
5.8
5.8
Ghana
0.4
0.3
0.0
0.0
0.0
0.0
0.0
0.3
0.3
0.3
Morocco
1.2
1.3
0.0
0.0
1.8
1.9
1.9
0.2
0.2
0.2
Namibia
0.5
0.5
0.0
0.0
0.8
0.8
0.8
0.0
0.1
0.1
Nigeria
0.7
0.7
0.3
0.3
0.2
0.2
0.2
1.4
1.1
1.0
Senegal
0.5
0.5
0.0
0.0
0.3
0.4
0.3
0.0
0.0
0.0
South Africa
0.7
0.4
0.0
0.0
0.6
0.6
0.6
0.5
0.4
0.4
CENTRAL AMERICA
2.2
2.2
0.3
0.4
2.5
2.7
2.5
1.7
2.0
1.8
Mexico
1.6
1.6
0.1
0.2
1.1
1.2
1.1
0.8
0.9
0.8
Panama
0.2
0.2
0.0
0.0
0.2
0.2
0.2
0.1
0.1
0.1
ASIA China
2
10.1
10.3
2.1
2.1
13.7
15.5
12.9
3.7
3.8
3.5
Argentina
0.7
0.9
0.0
0.0
1.5
1.6
1.6
0.2
0.2
0.2
Brazil
0.8
0.8
0.5
0.5
0.2
0.2
0.2
1.5
1.6
1.3
Chile
2.6
1.8
1.1
1.0
5.0
5.9
4.8
0.4
0.4
0.4
Ecuador
0.5
0.5
0.3
0.3
3.6
4.3
3.7
0.1
0.1
0.1
Peru
4.8
5.9
0.1
0.1
2.7
2.9
2.0
0.2
0.2
0.2
NORTH AMERICA
6.2
6.4
0.6
0.6
10.7
11.0
10.7
21.9
25.0
23.4
Canada
0.8
0.9
0.2
0.2
4.3
4.5
4.6
2.8
3.0
2.8
United States of America
5.1
5.2
0.4
0.4
6.0
6.1
5.8
19.0
21.9
20.5
13.1
13.5
2.9
2.8
46.9
49.9
43.3
58.3
61.3
52.4
4.7
5.0
1.3
1.2
29.8
32.2
28.3
50.9
54.4
47.8
SOUTH AMERICA
EUROPE European Union 2
"
"
"
"
5.7
5.9
5.2
26.8
28.4
25.4
Iceland
1.4
1.4
0.0
0.0
2.3
2.1
2.2
0.1
0.1
0.2
Norway
2.2
2.1
1.3
1.2
10.4
10.8
8.9
1.3
1.4
1.1
Russian Federation
4.3
4.3
0.1
0.2
3.6
3.8
3.1
3.4
3.0
1.7
OCEANIA
1.3
1.2
0.2
0.2
2.9
3.0
2.8
2.0
2.3
2.0
Australia
0.2
0.2
0.1
0.1
1.0
1.1
1.0
1.6
1.7
1.4
New Zealand
0.4
0.4
0.1
0.1
1.2
1.2
1.1
0.2
0.2
0.2
91.3
92.6
66.5
70.2
136.1
143.5
129.8
136.3
143.7
130.0
"
"
"
"
112.0
117.2
106.7
112.2
117.6
107.5
Developing countries
67.2
68.1
62.2
66.0
74.0
78.1
71.4
37.8
39.5
38.0
Developed countries
24.0
24.4
4.3
4.2
62.1
65.4
58.3
98.5
104.2
92.0
LIFDCs
14.8
14.5
7.4
7.9
7.6
8.6
7.9
3.8
3.5
3.5
9.8
10.1
3.0
3.2
2.5
2.5
2.4
1.3
1.4
1.4
18.5
19.9
4.3
4.7
10.0
10.3
9.1
4.7
4.9
5.2
of which Extra-EU
WORLD
3
World excluding Intra-EU
LDCs NFIDCs
Production and trade data exclude whales. seals. other aquatic mammals and aquatic plants. Trade data include fish meal and fish oil. 2 Including intra-trade. Cyprus is included in Asia as well as in the European Union. Starting with 2013 data. EU includes Croatia. 3 For capture fisheries production, the aggregate includes also 32 358 tonnes in 2012 and 83 275 tonnes in 2013 of not identified countries, data not included in any other aggregates. Totals may not match due to rounding. 1
Globefish Highlights October 2015
55
EVENTS 2015 - First International Fisheries Stakeholders Forum 20th Anniversary of the Code of Conduct (FAO) The Vigo Conference, co-organized by FAO, the Government of Spain, the regional government of Galicia and Conxemar celebrating the 20th Anniversary of the Code of Conduct, took place in Vigo on
October 8-9 2015 A milestone for global fisheries and aquaculture sector, the twoday conference saw policymakers and industry debate concerted strategies for achieving more sustainable fisheries and aquaculture practices in the future, including the fight against illegal, unreported and unregulated fishing, improving livelihoods and labour conditions in the sector and more effective fisheries management. In total, more than 620 participants took part in the event, including 120 policymakers from 63 countries, in addition to senior executives from the main seafood companies worldwide, scientists, academics and NGOs.
In the next issue: full coverage of the V igo Conference 56
Globefish Highlights October 2015
Globefish Research Programme
Research Programme Vol. 120 - Perceptions and misconceptions of aquaculture Vol. 119 The role of women in the seafood industry Vol. 118 Sole: Production and markets Vol. 117 The Seafood market in Japan Vol. 116 The European market for bivalves other than mussels Vol. 115 The European market for mussels Vol. 114 Eel (Anguilla spp.): Production and trade * Vol. 113 Exchange rates and the seafood trade* Vol. 112 By-products of tuna processing Vol .111 Technical guide to fish canning Vol. 110 Innovative uses of fisheries by-products Vol. 109 Seafood markets in Southern Africa Vol. 108 Risks and benefits of seafood consumption* Vol. 107 El eco-etiquetado de productos pesqueros en España Vol. 106 El mercado de productos pesqueros en España Vol. 105 The European market for shrimp Vol. 104 The Seafood Market in France Vol. 103 Turbot – Production Technology and Markets Vol. 102 The Ornamental Fish Trade Vol. 101 Markets for Tilapia Vol. 100 Importance of APEC in world fisheries and aquaculture l
Sep 2015 May 2015 Apr 2015 Jan 2015 May 2014 April 2014 July 2014 Jan 2014 Jul 2013 May 2013 Feb 2013 Jan 2013 Jan 2013 Sep 2012 Aug 2012 Aug 2012 Aug 2011 Feb 2011 Nov 2010 Jul 2010 Mar 2010
€30 €30 €30 €30 €30 €30 ---€30 €30 €30 €30 €30 €30 €30 €30 €30 €30 €30 €40 €30 €30
The GLOBEFISH Research Programme provides detailed analysis of selected markets, species and products of relevance in international fish trade. In addition, studies are published on specific issues of importance to the sector.
c I would like to order _____ copy(ies) of volume number _____________________ for a total of €_______ c By bank cheque in € made out to FAO GLOBEFISH for € _______________________ c By bank transfer in Euro to: FAO GLOBEFISH FAO Trust Fund (EUR) Bank Name: HSBC Bank, Plc 8 Canada Square London E14 5HQ, UK Swift/BIC: MIDLGB22 Account Number: 67115083 IBAN: GB04MIDL40051567115083 or By credit card:
c Visa
c MasterCard
Credit Card Number: ____________________
Expiry Date: _____________________
Signature: ______________________________
For € :__________________________
Please provide the following information: NAME: .......................................................................... COMPANY: .................................................................. POSTAL ADDRESS: .................................................... CITY: ............................................................................. COUNTRY: ................................................................... TEL.: .............................................................................. FAX: .............................................................................. E-MAIL: .................................... @................................. Date: ........./ ........./ .........
Kindly return this form to: GLOBEFISH - FIPM Food and Agriculture Organization of the UN Viale delle Terme di Caracalla, 00153 Rome, Italy Tel: (+39) 06 570 544163 Fax: (+39) 06 57053020 E-mail: globefish@fao.org
Food and Agriculture Organization of the United Nations Fisheries andâ&#x20AC;&#x2C6;Aquaculture Policy and Economics Division Products, Trade and Marketing Branch Viale delle Terme di Caracalla 00153 Rome - ITALY Tel: (+39) 06 57052884 Fax: (+39) 06 57053020 E-mail: globefish@fao.org Web site: www.globefish.org