GLOBEFISH Highlights - 02/2018 by GLOBEFISH

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GLOBEFISH HIGHLIGHTS A QUARTERLY UPDATE ON WORLD SEAFOOD MARKETS

APRIL 2018 ISSUE, with Annual 2017 Statistics

GLOBEFISH Highlights | April 2018

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. 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 European Fish Price Report, the GLOBEFISH Highlights, the GLOBEFISH Research Programme and the 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). The designations employed and the presentation of material in this information product do not imply the expression of any opinion whatsoever on the part of the Food and Agriculture Organization of the United Nations (FAO) concerning the legal or development status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The mention of specific companies or products of manufacturers, whether or not these have been patented, does not imply that these have been endorsed or recommended by FAO in preference to others of a similar nature that are not mentioned. The views expressed in this information product are those of the author(s) and do not necessarily reflect the views or policies of FAO. ISBN 978-92-5-130657-4 © FAO, 2018 FAO encourages the use, reproduction and dissemination of material in this information product. Except where otherwise indicated, material may be copied, downloaded and printed for private study, research and teaching purposes, or for use in non-commercial products or services, provided that appropriate acknowledgement of FAO as the source and copyright holder is given and that FAO’s endorsement of users’ views, products or services is not implied in any way. All requests for translation and adaptation rights, and for resale and other commercial use rights should be made via www.fao.org/ contact-us/licence-request or addressed to copyright@fao.org. FAO information products are available on the FAO website (www.fao. org/publications) and can be purchased through publications-sales@fao.org. This publication has been printed using selected products and processes so as to ensure minimal environmental impact and to promote sustainable forest management Cover photography ©imjustintime - unsplash

GLOBEFISH HIGHLIGHTS A quarterly update on world seafood markets

ACKNOWLEDGEMENTS â&#x20AC;&#x192; Globefish highlights This issue of GLOBEFISH Highlights has been prepared by Silvio Alejandro R. Catalano Garcia, Helga Josupeit, Rita Monteiro Pierce, Shen Nianjun, Turan Rahimzadeh and Weiwei Wang with contributions by Shirlene M. Anthonysamy (Pangasius and Tilapia), Felix Dent (Salmon and Seabass/ bream), Fatima Ferdouse (Shrimp and Tuna), Erik Hempel (Cephalopods, Crab, Groundfish, Lobster and Small Pelagics), Thomas Jensen (Events, Eurofish contribution), Helga Josupeit (Bivalves), Giulia Loi (Food safety issues), Rodrigo Misa (Salmon, Shrimp and Tilapia regional contributions), Ferit Rad (Seabass/bream regional contributions), Turan Rahimzadeh (Events section), Katia Tribilustova (Seabass/ bream regional contributions) and Weiwei Wang (Fishmeal/ oil). Full bios on all contributors are available at www.fao.org/ in-action/globefish/background/publication-contributors. Weiwei Wang provided coordination, Rita Monteiro Pierce provided editing services, Silvio Alejandro R. Catalano Garcia directed the graphic design, Helga Josupeit and Shen Nianjun were responsible for quality content review, Turan Rahimzadeh was responsible for the layout, and Fatima Ferdouse and Weiwei Wang created statistical figures. The Norwegian Seafood Council provided data support for the FAO Fish Price Index. Illustrations were sourced from the Food and Agriculture Organization of the United Nations, Original Scientific Illustrations Archive.

ACRONYMS AND ABBREVIATIONS Globefish highlights APMDA

Agro Processing and Market Development Authority

ASEAN

Association of Southeast Asian Nations

CFP

Common Fisheries Policy

CFR

Cost and Freight

CIF

Cost, insurance and freight

DFO

Canadian Department of Fisheries and Oceans

DOC

US Department of Commerce

EMS

Early Mortality Syndrome

EWS

Ex warehouse

FAO

Food and Agriculture Organization of the United Nations

FTA

Free Trade Agreement

GMRI

Gulf of Maine Research Institute

HAPO

Hellenic Aquaculture Producers Organization

IATTC

Inter American Tropical Tuna Commission

ICES

International Council for the Exploration of the Sea

IEO MARD

Spanish Institute of Oceanography Viet Nam Ministry of Agriculture and Rural Development

MOIT

Viet Nam Ministry of Industry and Trade

MSC

Marine Stewardship Council

NPFMC

North Pacific Fisheries Management Council

NSC

Norwegian Seafood Council

RFC

Russian Fishery Company

SFP

Sustainable Fisheries Partnership

SPRFMO

South Pacific Regional Fisheries Management Organisation

TAC

Total Allowable Catch

TiLV

Tilapia Lake Virus

VASEP

Viet Nam Association of Seafood Exporters and Producers

WTO

World Trade Organization

YTL

Turkish lira

CONTENTS Globefish highlights

ACKNOWLEDGEMENTS 4 ACRONYMS AND ABBREVIATIONS GLOBAL FISH ECONOMY

5 14

Bumper year for global seafood in 2017 gives way to a more uncertain outlook for 2018

SHRIMP 17 Farmed shrimp output increased by about 6 percent in 2017

TUNA 22 High-priced raw materials in 2017 weakened demand for canned tuna

GROUNDFISH 27 Lower quotas, prices rising

CEPHALOPODS 31 Continued shortage of octopus, while the squid season looks good

TILAPIA 34 Non-traditional markets lead the way

PANGASIUS 37 Asia and Latin America lead the way, tight supplies keep prices up

BASS & BREAM 39 Sector undergoing structural changes as production surplus continues to dampen prices

SALMON 42 Steep price slide in the second half of 2017 brings some stability back to the market

GLOBEFISH Highlights | April 2018

SMALL PELAGICS 47 Lower mackerel and herring prices

FISH MEAL & FISH OIL 51 By the end of the second fishing season of 2017, only 46 percent of the anchovy quota in Peru was fulfilled.

LOBSTER 54 Tighter supplies and higher prices

BIVALVES 57 Bivalves market very positive

CRAB 61 Higher prices for king crab and snow crab

FOOD SAFETY ISSUES 64 Detentions and Rejections of shrimp and prawns in Canada, European Union, Japan and United States of America

EVENTS 67 2018 Global Fishery Forum and Seafood Expo

APENDIX STATS

68-77

GLOBEFISH Highlights | April 2018

TABLES, FIGURES AND NEWS â&#x20AC;&#x192; Globefish highlightsâ&#x20AC;&#x192; TABLES shrimp World Production of Farmed Shrimp World top exporters and Importers of shrimp US imports of shrimp (by product) Japanese imports of shrimp (by product) EU28 imports/exports of shrimp Shrimp imports in Asia-Pacific

17 18 19 19 19 20

Japanese tuna landings World top 6 exporters and Importers of canned/processed tuna

22 24

Chinese exports of frozen tilapia

Norwegian exports of salmon Chilean exports of salmon US imports of salmon

43 43 45

Norwegian exports of small pelagics

World imports/exports of lobster US imports/exports of lobster

54 55

World imports/exports of mussels World imports/exports of oysters World imports/exports of scallops World imports/exports of clams, cockles, arkshells

58 59 59 60

TUNA

tilapia salmon

small pelagics lobster

bivalves

GLOBEFISH Highlights | April 2018

Appendix stats Fish and fishery products statistics World main squid and cuttlefish importers World main squid and cuttlefish exporters World main octopus importers World main octopus exporters World main tilapia importers World main tilapia exporters World main catfish importers World main catfish exporters World main salmon importers World main salmon exporters World main fish meal importers World main fish meal exporters World main fish oil importers World main fish oil exporters World main lobster importers World main lobster exporters World main crab importers World main crab exporters

68 69 69 70 70 71 71 72 72 73 73 74 74 75 75 76 76 77 77

GLOBEFISH Highlights | April 2018

GRAPHS global fish economy FAO Fish price index

Shrimp production by species, both wild and farmed (2016) USA | Imports | Shrimp India | Exports | Shrimp Prices Shrimp: USA

17 18 20 21

22 23 23 23 24 25 25 25 25 26

27 28 28 28 28 29 29 29 30

31 31 32 32 33

USA | Imports | Tilapia Prices Tilapia: USA

34 35

shrimp

TUNA

groundfish

cephalopods

tilapia

GLOBEFISH Highlights | April 2018

pangasius USA | Imports | Catfish Spain | Imports | Catfish

38 38

39 40 40 40 40 41 41

42 42 44 45 45 46 46

48 48 48 48 49

51 51 52 52 52 53 53 53 53 53

Lobster production (2016) EU28 | Imports | Lobster

54 55

bass & Bream

salmon

small pelagics

fish meal & fish oil

lobster

GLOBEFISH Highlights | April 2018

China | Imports | Lobster Canada | Exports | Lobster Prices Lobster tails: USA Wholesale prices American lobster: USA Prices European lobster: Europe

55 55 56 56 56

57 57 58 58 58 58 59 60

61 61 62 62 62 62

Shrimp rejected at Canadian borders in 2017 by causes (number of cases) Shrimp rejected at Canadian borders in 2017 by hazard Shrimp rejected at EU28 borders in 2017 by causes (number of cases) Shrimp rejected at EU28 borders in 2017 by hazard Shrimp rejected at Japanese borders in 2017 by causes (number of cases) Shrimp rejected at Japanese borders in 2017 by hazard Shrimp rejected at US borders in 2017 by causes (number of cases) Shrimp rejected at US borders in 2017 by hazard

64 64 65 65 65 65 66 66

bivalves

crab

food safety issues

ÂŠFotolia - kerenby

GLOBAL FISH ECONOMY Globefish highlights

Bumper year for global seafood in 2017 gives way to a more uncertain outlook for 2018 ©Fotolia - Olga Glebska

Global fish production increased by an estimated 2.3 percent in 2017, boosted by a recovery in catches in a number of important fisheries following the El Niño climatic event. Global aquaculture harvests continue to grow at a consistent rate of 4–5 percent a year, which will see the sector overtake capture fisheries as the leading means of fish production within the next 2–3 years. Aquaculture already supplies the major proportion of the fish we eat, accounting for 54 percent of the 20.4 kg per capita consumed in 2017. Compared with the previous year, international seafood trade expanded at a faster rate in 2017 in both volume and value terms, driven by better than expected economic growth globally and the weakening of the US dollar towards the end of the year. Prices for multiple commodity groups trended upwards even as total supply rose, backed by a general strengthening of demand in major seafood markets across the world. Over the course of 2017, the FAO Fish Price Index rose by 9 points, primarily as a result of a 23-point rise in traded prices for wild caught species, including cod, cephalopods, tuna and small pelagic species. In fact, the capture fisheries price index reached its highest ever level, 169 points, in December 2017, the peak of a strong upward trend that began in late 2015. Meanwhile, the aquaculture price index fell 3 points from December 2016 to December 2017, due in large part to a steep 18-point drop in the salmon component of the index, as record harvest volumes hit markets in the second half of the year. Overall, however, average salmon prices in 2017 still exceeded those achieved in 2016.

GLOBEFISH Highlights | April 2018

Production increases combined with high prices turned into substantial gains in export revenues for seafood exporting regions in 2017, led in absolute and percentage terms by South America. Higher catches of Peruvian anchoveta, improved full-year prices for Chilean salmon and good farmed shrimp harvests in Ecuador were the main factors behind an estimated USD 3.6 billion increase in the South American seafood export revenues in 2017. In Asia, a 36 percent increase in Indian export revenue in 2017 followed a 14 percent increase the prior year. These figures reflect the effects of rapid growth in Indian farmed shrimp production, as well as the rising price trend for cephalopods. In Europe, the general improvement in economic conditions was a catalyst for increased seafood exports in the EU28, both external and internal. Meanwhile, Norway continued to record ever-higher export revenues on the back of good prices for groundfish and farmed salmon. The rebound of the Brazilian economy and accelerated growth in a number of key Asian countries in 2017 helped developing countries regain their position as the leaders of global seafood trade expansion. Both exports and imports by developing countries grew an estimated 10 percent in 2017. Emerging economies in East and Southeast Asia, mainly China but also smaller and rapidly growing economies such as the Republic of Korea and Thailand, continue to take an increasing large share of the global market as consumers, in addition to their historically more prominent roles as producers, processors, and exporters. In 2017,

World Fish market at a glance 2015

2016

2017

estimate

million tonnes

Change: 2017 over 2016

WORLD BALANCE Production 168.7

170.9

175.2

2.5

Capture fisheries

92.7

90.9

91.6

0.8

Aquaculture

76.1

80.0

83.6

4.5

Trade value (exports USD)

133.3

142.5

152.1

6.7

Trade volume (live weight)

59.6

59.7

60.4

1.2

Total utlilization

168.7

170.9

175.2

2.5

Food

148.4

151.2

154.5

2.2

Feed

15.1

14.6

15.6

6.8

Other uses

5.2

5.1

0.0

SUPPLY AND DEMAND INDICATORS Per caput food consumption Food fish (kg/year)

20.2

20.3

20.5

0.6

From capture fisheries (kg/year)

9.8

9.6

9.4

-2.0

From aquaculture (kg/year) 10.3 Totals may not match due to rounding.

10.8

11.1

2.8

FAO Fish Price Index (100=2002-2004) 180

TOTAL

AQUACULTURE

CAPTURE

160 140 120 100 80 60 40 20 0

Source: Norwegian Seafood Council

GLOBEFISH Highlights | April 2018

however, exporters were able to take advantage of strong demand spread across multiple markets in different regions, including the large developed economies of the United States of America, the EU28 and Japan, where growth returned in 2017 after relatively weak performance the previous year. Combined, these three markets imported 6.7 percent more seafood in 2017 in value terms, equivalent to a total value of USD 6.15 billion. In 2018, the supply outlook is mixed across the main commodity groups, and the threat of unexpected supply shocks due to increasingly frequent extreme weather events or disease is continually present. On the market side, the economic gains realized globally in 2017 are widely expected to continue into 2018, although the World Trade Organization (WTO) expects a slight slowdown in merchandise trade growth, which is generally broadly correlated with trends in international seafood trade. There has also been a number of developments that represent potential downside risks to the global economy, including rising geopolitical tensions, interest rate hikes by central banks and further escalation of the ‘trade war’ between the United States of America and China. Both of these countries are major players in the global seafood market, and although fish products have not yet been subject to retaliatory measures by either government, their future inclusion could have a significant impact on trade flows.

GLOBEFISH Highlights | April 2018

SHRIMP Globefish highlights

Farmed shrimp output increased by about 6 percent in 2017 There was a change in market direction from West to East, where China played a strong role in 2017. Local demand in many producing countries was also good and at strong prices.

Supply The global production of farmed shrimp in 2017 was estimated between 2.9–3.5 million tonnes. Nearly 75 to 80 percent of the production originated in Asia-Pacific. World Production of Farmed Shrimp, in 1 000 tonnes 2016

2017 (estimate)

China

800

600- 700

India

400

430-620

Viet Nam

240

415-600

Indonesia

390

350-450

Thailand

300

305

Country

Philippines

65-70

Bangladesh

55-60

Malaysia

32-35

Total Asia-Pacific*

2270

2252-2840

Total Latin America**

600

650-700

World total

2870

2902-3540

Source: Aqua Culture Asia Pacific Magazine and industry sources Notes: *Myanmar, Brunei, Australia, Iran, Saudi Arabia and others; ** Brazil, Peru, Nicaragua, Colombia and others

Shrimp production by species, both wild and farmed (2016)

65+15+812 Others 12%

Akia paste shrimp 8% Giant tiger prawn 15%

Source: FAO

Whiteleg shrimp 65%

In its 2017 annual review, Aqua Culture Asia Pacific magazine reported the production trend for Asia as “expansion and conversion in India, Viet Nam, Indonesia and to a smaller extent the Philippines; recovery in Thailand was disrupted. Production also declined in Malaysia. China’s production continued to decline ”. Vannamei is farmed now in most Asian countries, except Bangladesh. Some farmers in Viet Nam and Indonesia returned to black tiger farming because of higher financial return, whereas Malaysian farmers moved back to black tiger shrimp to address the early mortality syndrome (EMS) problem. In Latin America, the main producers were Ecuador, Mexico and Brazil, generating more than a total of 700 000 tonnes.

International Trade An estimated 2.3 million tonnes of shrimp and prawn were imported in the top seven global markets in 2017, approximately 15 percent more than in 2016. Demand in East Asia was stronger in 2017, attracting large volumes of supplies worldwide.

GLOBEFISH Highlights | April 2018

World top exporters and Importers of shrimp (all types, 1 000 tonnes) Export Exporters

2016

2017

percent change 2017/2016

India

438.5

574.2

+ 31.4

Viet Nam

425.0

530.0

+ 24.7

Ecuador

372.6

439.7

+ 18.0

Indonesia

188.0

176.6

- 6.1

China

205.3

196.9

- 4.1

Argentina

159.8

183.3

+ 14.7

Thailand

209.4

207.8

- 0.8

Importers Importers

2016

2017

percent change 2017/2016

EU28

783.9

785.1

+0.1

USA

605.6

664.7

+9.8

Viet Nam*

330.0

441.2

+33.7

China**

300.0

375.5

+25.2

Japan

223.6

233.7

+4.3

Republic of Korea

83.0

70.4

-15.1

Canada

51.1

55.9

+9.3

Source: National data. Note: * Imports from 21 countries; **

including imports through border trade

Exports The positive export growth in India and Ecuador resulted directly from an increased domestic production of farmed shrimp, whereas nearly 50 percent of Vietnamese exports consisted of imported shrimp. In 2017, reported shrimp exports from Vietnam to the top 20 destinations, including official exports to China, totalled 264 000 tonnes, representing only a 1.1 percent increase from 2016. However, considering the large re-exports from Viet Nam to China (which comprises 60–70 percent of the imports in Viet Nam), the total shrimp exports from Viet Nam to the global market in 2017 were nearly 25 percent higher, at 530 000 tonnes, compared with 2016. Exports from Indonesia and China declined, due to lower domestic production. Thai exports declined to the major markets except to Japan. Shrimp catches in Argentina reached more than 200 000 tonnes in 2017 and there was an increase of 14.7 percent in exports to 183 300 tonnes, compared with 2016. Exports to Japan increased by 40 percent at 18 000 tonnes and to Viet Nam by 80 percent at 11 400 tonnes. Exports of wild caught prawn from Canada declined by 40 percent in 2017 compared to 2016, due to lower catches. There were increased exports to Viet Nam.

GLOBEFISH Highlights | April 2018

Imports In 2017, shrimp demand was strong in East Asia and in North America, supported by good consumer acceptance of farmed shrimp and steady prices. However, in Europe the market was rather flat. Global imports to the top seven countries (EU28, United States of America, Viet Nam, China, Japan, Republic of Korea and Canada) totalled 2.6 million tonnes in 2017, of which 43 percent (1.12 million tonnes) were imports to four Asian markets (China, Viet Nam, Japan and Republic of Korea). Industry reports indicated that 60–70 percent of Vietnamese imports were re-exported to China, indicating a double reporting in the international trade.

United States of America Shrimp remained the most popular seafood in the United States of America. Supported by a strong stock market and higher disposable income, shrimp consumption in the United States of America increased in 2017, compared with 2016. Stable US import prices also kept wholesale prices fairly attractive during the review period. Sales increases in retail and catering trade drove 2017 imports to record high levels at 665 100 tonnes, worth USD 6.5 billion, 10 and 14 percent higher than 2016, respectively. The decrease in the anti-dumping tariff on Indian shrimp and its increased market acceptance led to a significant increase in shrimp supply from India (+39 percent at 214 400 tonnes), which was a key factor behind the overall rise in US shrimp imports in 2017. The average wholesale price of Indian shellon vannamei was 6–10 percent higher than the Ecuadorian product. Noticeably, about 78 percent of the US imports of shrimp were tropical shell-on and peeled products (shell-on easy-peel, peeled tail-on, peeled deveined, butter-fly cut, among others). The share of prepared USA | Imports | Shrimp Top three origins Unit: 1 000 tonnes, January-December India Thailand Total imports

Indonesia Other countries

300

680

250

660 640

200

620

150

600

100

580

50 0

560 2015

Source: US-NMFS

2016

2017

540

products including breaded shrimp was only 22 percent. Imports for tropical shell-on and peeled products increased by 10 percent and for prepared products increased by 11 percent, compared with 2016. US imports of shrimp (by product) January - December

2013

2014

2015

2016

2017

Shell-on frozen

196.8

219.0

223.8

229.1

236.3

Peeled frozen

199.3

230.0

234.8

242.7

280.9

Breaded

36.9

39.4

44.5

44.1

47.4

(1 000 tonnes)

Other products

76.3

80.2

84.1

89.2

100.5

Total

509.3

568.6

587.2

605.1

665.1

Source: NMFS

Japan After more than 5 years of stagnation, Japanese imports recovered to a total of 223 200 tonnes during 2017 (+4.3 percent than in 2016), supported by an improved economy and higher disposable income. Overall shrimp consumption improved during the review period, but it is, as normal, associated with high consumption periods in April/May, July/August and the end of December. Japanese imports of value-added shrimp amounted to 62 200 tonnes, representing 27 percent of the country’s total shrimp imports in 2017, compared with 22 percent in the United States of America and 19 percent in the EU28. In recent years, Japanese household demand for raw shrimp declined, but increased for ‘ready–to cook’ and ‘ready to eat’ products. The year-end sales for these products were good in 2017. Demand for raw head-on black tiger shrimp increased from high-end restaurants and for Argentinean shrimp from sushi shops and supermarkets during the review period.

European Union (Member Organization) Shrimp demand in the EU28 market remained unchanged over the last 5 years. Imports of shrimp from outside the EU28 consisted in more than 75 percent of the total shrimp trade and persisted in the range of 570 000 to 580 000 tonnes per year, including 19–20 percent of value added shrimp. Total EU28 imports were almost the same in 2016 and 2017. Despite the stable market prices, imports from most suppliers increased only marginally, though there was a 25 percent increase in imports from Viet Nam (43 percent was value added shrimp). There was a weaker demand trend in the Community market, with some seasonal peaks. In the individual EU28 markets, imports increased marginally in Spain (+3 percent at 169 400 tonnes) and Denmark (+ 5 percent at 79 400 tonnes), but declined in France (-2.2 percent at 108 000 tonnes), the United Kingdom (-2.2 percent at 79 400 tonnes), the Netherlands (-16.0 percent at 72 500 tonnes) and Italy (-5 percent at 69 000 tonnes). Demand for Argentinean shrimp was strong in Europe during the 2017 Christmas season, compared with the demand for tropical shrimp. Switzerland, the high-end market in Europe, reported a 4 percent rise in shrimp imports at 8 200 tonnes in 2017. In 2017, Shrimp imports in the Russian Federation in 2017 were the highest since 2015, at 38 400 tonnes. Supplies of cold water shrimp from Greenland increased by 29 percent to 9 800 tonnes. Shipments from Argentina rose by 181 percent to 3 600 tonnes. Imports of tropical shrimp increased from India (+24 percent at 7 400 tonnes) and Ecuador (+38 percent at 4 500 tonnes).

Viet Nam and Thailand were the main suppliers to the Japanese market, including value added shrimp. Other exporters included India (35 000 tonnes), Indonesia (30 500 tonnes) and Argentina (21 600 tonnes). Japanese imports of shrimp (by product) January - December

2015

2016

2017

EU28 imports/exports of shrimp January - December

2013

2014

2015

2016

2017

(1 000 tonnes) Imports Ecuador

83.1

91.6

93.0

95.9

96.7

Argentina

58.9

65.5

71.1

78.4

80.6

India

66.4

80.4

78.7

77.7

78.5

2013

2014

Others

550.1

558.0

524.6

531.9

529.3

Frozen, raw

187.3

162.3

153.1

163.0

170.9

Total

758.5

795.5

767.4

783.9

785.1

Cooked, frozen

24.2

20.1

19.5

19.6

19.4

Exports

Prepared/preserved

45.7

36.8

37.5

38.8

39.8

Intra-EU

253.4

249.9

243.7

303.9

239.7

(1 000 tonnes)

Sushi (with rice) Total*

2.2

2.0

2.4

2.8

2.7

262.1

223.4

213.7

223.5

234.4

Source: Japan Customs/INFOFISH, *including others

Extra EU

80.0

76.8

73.8

64.1

53.4

Total

333.4

326.7

317.5

368.0

293.1

Source: EUROSTAT

GLOBEFISH Highlights | April 2018

Asia/Pacific Demand for shrimp in the Asia/Pacific region was strong in producing and non-producing countries (Japan, Republic of Korea, China Hong Kong SAR, Singapore, New Zealand) during 2017. Most of the regional imports entered local and neighbouring markets (Viet Nam to China, Viet Nam re-exported most of its imports with or without further processing). In Thailand, imported shrimp is generally reprocessed into value added products for exports. China remained the leading consumer of shrimp in Asia, including imported shrimp. An increasing volume (60-70 percent) of domestic production has been entering the local market. The trend is similar in Southeast Asian producing countries. SIn the Pacific region, imports declined marginally in Australia (-1 percent) to 32 300 tonnes, but increased in the smaller New Zealand market by 4 percent at 5 200 tonnes. Reportedly, 70 000 tonnes of vannamei were sold in India’s domestic market in 2017. Most of the freshwater prawn produced in Bangladesh, Malaysia, Thailand and Viet Nam also entered domestic urban markets at much higher prices than export. In the Asia/Pacific region, Viet Nam was the largest shrimp importer in 2017, with increased shipments from the main suppliers Ecuador (+51 percent at 223 900 tonnes) and India (+58 percent at 157 700 tonnes). Imports also increased from Argentina at 11 300 tonnes (+79 percent). Viet Nam re-exported 60–70 percent of its imports to China without further processing. According to the Chinese Customs, shrimp imports in 2017 increased by 4 percent to 111 400 tonnes. The leading suppliers to the Chinese market were Canada, Argentina, Ecuador, India and Greenland. Imports increased from all except from Argentina. In addition, an estimated 265 000 to 270 000 tonnes of shrimp entered China from Viet Nam through unreported border trade, while the official volume of imports from Viet Nam to China was only 1 600 tonnes. Starting in 1 December 2017, China lowered import tariffs on shrimp from 5 to 2 percent, which has induced more direct imports since then. The import shortfalls in the Republic of Korea and China Hong Kong SAR were due to declining supplies of fresh shrimp from China to these markets. However, imports from Viet Nam increased to these destinations. The weaker Malaysian Ringgit against the US dollar also affected imports, even though local demand was strong at good prices.

Prices Despite increased production of farmed shrimp, prices in the international trade remained stable throughout 2017.

GLOBEFISH Highlights | April 2018

Domestic prices of fresh shrimp in China, Taiwan Province of China, Malaysia, Thailand, Viet Nam and Singapore, were much higher compared with western import prices. At the retail trade in Malaysia, prices of fresh vannamei 50/60 pieces per kg price was high at USD 10 per kg. In India, 100 pieces per kg of vannamei was sold at USD 3.9 per kg in the fresh market. Shrimp imports in Asia-Pacific, in 1 000 tonnes Imports

2016

2017

percent change 2017/2016

*Viet Nam

330.0

441.2

+33.7

*China

300.0

375.5

+25.2

Japan

223.6

233.7

+4.3

Republic of Korea Taiwan Province of China Hong Kong SAR

83.0

70.4

-15.1

34.2

41.8

+22.3

51.6

41.3

-20.1

Australia

32.6

32.3

-1.0

Singapore

24.8

23.8

-3.6

Malaysia

21.5

18.9

-11.9

Thailand

26.0

14.8

-42.8

New Zealand

4.9

5.2

+4.1

Total 1132.0 1298.0 Source: National trade statistics Note: (*estimate)

14.6

India | Exports | Shrimp Top three destinations Unit: 1 000 tonnes, January-December United States of America Japan Total Exports

Viet Nam Other countries

800

240 200

600

160

400

120

200

40 0

2015

2016

2017

Source: Ministry of Commerce, India

Prices Shrimp: USA

count 21/25 (India) count 26/30 (India) count 36/40 (Ecuador)

USD/lb

count 36/40 (India)

9 6 3 0

Headless, shell-on farmed vannamei, Ex-warehouse, New York, USA

Source: INFOFISH Trade News

Outlook The 2018 farming season in Asia begins in April/May. Industry sources in Asia forecast a positive trend in 2018 and a 10 percent production rise in India. Latin America entered the low production season starting in March. The likely El NiĂąo in 2018 may cause extreme weather such as draught and heavy rain, which are harmful to the aquaculture sector. The situation will be clearer by July. In early 2018 the US shrimp inventory remained high, while imports in January were 20 percent higher than last year. In view of the recent weakening of the US stock market, importers are being cautious. If the Dow Jones keeps growing in 2018, consumer confidence will stay positive. In Europe, buyers await lower prices with anticipated rise in production. In Japan shrimp consumption will increase during the Spring festivals in April/May, while imports were seasonally low during the first quarter of the year. Since late December 2017, the Chinese authorities have started a crack down on illegal imports of seafood from Viet Nam including shrimp. During the first two months of 2018, direct imports in China from Ecuador and India have doubled. Export from these two origins to Viet Nam also remained strong in January 2018. The impact of these developments will be more visible by mid-2018.

ÂŠFAO/Marco Salustro

GLOBEFISH Highlights | April 2018

TUNA Globefish highlights

High-priced raw materials in 2017 weakened demand for canned tuna In the large traditional markets, conventional products are losing consumer appeal while high-value products including non-canned tuna are gaining bigger niches.

Raw material supply Global supply of tuna canning material was lower in 2017 compared with 2016. Landings were disappointing in the Western and Central Pacific region during the first half of the year. This region accounts for two thirds of the world skipjack resources. Catches declined further during July– October FAD fishing closure, when skipjack price shot up to USD 1 900–2 400 per tonne CFR Bangkok, following some increase in demand from Thai

52+27+764

Tuna production by species, both wild and farmed (2016) longtail tuna 4% Frigate and bullet tunas 6% Bigeye tuna 7%

Yellowfin tuna 27%

Source: FAO

GLOBEFISH Highlights | April 2018

Skipjack tuna 52%

canneries. Catch improved starting in November 2017 and prices started to soften reaching USD 1 700 per tonne by the end of the review period, matching the weaker demand for canned tuna in Europe and North America. Catch was moderate to good in the Eastern Pacific region, benefiting the canneries in Manta, Ecuador. In this region, two sets of 2-month IATTC Veda fishing closures were in place from November 2016 to 18 January 2017 and 29 July to 8 October 2017, when 64 percent of the fishing fleet participated in the fishing ban. In the Indian Ocean, landings were moderate and without much fluctuation in 2017, which allowed higher transshipment of frozen tuna to Thailand and Ecuador. Frozen tuna inventories in Thailand, which were mostly imported, were healthy in 2017 due to lower demand for processed tuna from the global market. Compared with 2016, total imports of frozen raw material for canning was 7 percent lower in 2017 at 648 900 tonnes. Imports of skipjack declined by 10.4 percent at 473 800 tonnes, but yellowfin imports were marginally higher at 121 900 tonnes (+1.5 percent). Following the increased demand for canned albacore in the US market, frozen albacore imports increased by a hefty 35 percent at 43 700 tonnes. In 2017, Spain imported 165 900 tonnes of frozen skipjack, yellowfin and albacore, and 84 500 tonnes of cooked tuna loins for reprocessing. Japanese tuna landings 2013

2014

2015

2016

2017

(1 000 tonnes) Bluefin

3.4

4.2

5.2

5.8

6.1

Bigeye

27.5

29.3

28.0

26.9

23.5

Yellowfin

28.4

33.4

38.0

36.7

41.3

Skipjack

257.5

243.8

234.4

217.5

200.1

Albacore

58.2

53.4

46.1

36.9

40.9

Total*

375

364.1

351.7

323.8

311.9

Source: MAFF, Japan/INFOFISH. *including distant water catches

Fresh and frozen tuna market (non-canned) Global demand for non-canned tuna has been better than for canned tuna, in particular for frozen loins, fillets and steaks. Prices remained stable in

the international trade during 2017 and there were increased imports to the United States of America, Japan and the EU28, compared with 2016.

USA | Imports | Tuna | Fresh Top three species Unit: 1 000 tonnes, January-December Bigeye

The United States of America imported 2.6 percent more non-canned tuna from Asia and Latin America in 2017 than in 2016 (revised data: 57 900 tonnes), nearly 60 000 tonnes of fresh and frozen tuna (dressed fish and loins). More than 50 percent of these imports were frozen loins and steaks, highly preferred by traders and marketers due to their longer shelf life compared to fresh tuna. Supplies were mainly from Indonesia, Viet Nam, the Philippines, Thailand and China. Yellowfin tuna was the main species in the whole/ fresh tuna category, though US imports from leading sources declined by 1.6 percent in 2017 compared with 2016, specifically from Sri Lanka, the Philippines, Maldives and Trinidad and Tobago. US imports of bigeye tuna represented only a small share of the total imports of fresh tuna and were 8 percent lower in 2017 than in 2016, mainly from Brazil and the Western Pacific. High-value fresh bluefin tuna imports to the United States of America increased by 33 percent in 2017 compared with 2016, supplied by Canada, Japan, Spain and Turkey, with an average import price of USD 21 per kg. US imports of frozen Atlantic bluefin also increased from 5 tonnes in 2016 to 44 tonnes in 2017, most entering the US sashimi trade. The US market has emerged as the leading importer of air-flown tuna since 2015, a position previously held by Japan.

Japan Overall imports of seafood to Japan improved in 2017, supported by economic recovery and rising disposable income, but that trend was not seen in the sashimi tuna trade. Japanese imports of fresh tuna in 2017 were the lowest of recent years, decreasing by almost 50 percent compared to 2013. Sashimi tuna has become a seasonal choice for Japanese consumers. Expensive tuna is facing strong competition from more affordable salmon imported from Norway and Chile. Even though Japanese imports of frozen tuna rose by 4.5 percent in 2017 compared to 2016, it was due to higher imports of frozen skipjack and albacore for reprocessing of bushi products (cooked, dried tuna) and canned tuna. Frozen loin imports to Japan, including the highpriced bluefin tuna from the Mediterranean, increased in recent years to supply the seasonal demand in the retail and catering trade. In 2017, Japan imported 47 400 tonnes of frozen tuna loins,

Other species

Total imports

United States of America

8 7

6 5

4 3

2 1 0

2015

2016

2017

Source: US-NMFS (includes fresh loins/fillets)

Japan | Imports | Tuna | Frozen Top three species Unit: 1 000 tonnes, January-December Bigeye Skipjack Total imports

Other species

190

185

180

175

2015

2016

Source: Japan Customs/INFOFISH

2017

170

Japan | Imports | Tuna | Fresh/chilled Top three species Unit: 1 000 tonnes, January-December Bigeye

Other species

total imports

8 7

6 5

4 3

2 1 0

2015

2016

Source: Japan Customs/INFOFISH

2017

GLOBEFISH Highlights | April 2018

13 percent more than in 2016, supplied primarily by China, the Republic of Korea, Malta, Spain, Turkey and Croatia. This total comprised 30 300 tonnes of redmeat quality loins (bigeye and yellowfin) and 17 200 tonnes of bluefin. Demand for the higher value bluefin increased during the festival months of April, May and December, but remained stable for the cheaper red meat quality (bigeye) loins throughout 2017, at stable prices.

Thailand | Exports | Tuna | Canned/processed Top three destinations Unit: 1 000 tonnes, January-December United States of America Japan Total exports

European Union (Member Organization) Imports of frozen tuna fillets in the EU28 external trade increased in recent years, indicating good sectorial demand for high value marine fish, particularly from high-end restaurant business. Supplied by Viet Nam, the Republic of Korea, Mexico, Ecuador among the top, imports increased by 7 percent at 24 300 tonnes in 2017 compared with 19 200 tonnes in 2015 and 22 700 tonnes in 2016. During the review period, imports of chilled and frozen swordfish fillet (which is a by-catch of tuna fishing) also increased by 33 percent at 4 500 tonnes mostly supplied by Viet Nam, Sri Lanka and Indonesia. Demand for marine fish fillet in the EU28 market has grown despite the high prices. However, demand for whole/dressed air-flown tuna dropped by 2 percent in 2017 to 2 900 tonnes, shipped mainly from the Maldives, Sri Lanka, Suriname and Oman.

Canned tuna trade The international trade of canned and processed tuna in 2017 has been characterised by high raw material prices, increased demand for cooked tuna loins, decreased exports of conventional canned tuna in many traditional and emerging markets, and increased consumer interest for higher value products in developed markets.

Exports The export trend for canned and processed tuna was mixed in 2017. Thailand, the world’s largest producer of processed and canned tuna, exported less to the world market in 2017 compared with 2016, mainly because of declining demand in some important emerging markets in the Middle East (Egypt, Libya and Saudi Arabia) and in Southeast Asia. The positive export trends in Ecuador and the Philippines could be attributed to higher sales of cooked loins as well as canned tuna to the EU28 markets, supported by the preferential tariffs. More than one third of Ecuadorian exports to the EU28 consisted of cooked loins. These exports increased by 34 percent from 2016 to 2017, while Ecuadorian exports of canned/processed tuna to the EU28 market increased by 25 percent.

GLOBEFISH Highlights | April 2018

Australia Other countries

500

595

400

560

300

525

200

490

100

455

2015

2016

420

2017

Source: Thai Customs

Strong demand for value-added tuna in the EU28 market helped Spanish canners to increase exports in 2017, especially to Italy, France, Portugal, the Netherlands and Germany. China sustained positive export trend by selling more cooked loins for processing to its main markets, the United States of America and the EU28. World top 6 exporters and Importers of canned/ processed tuna, (in 1 000 tonnes) Export Exporters

2016

2017

percent change 2017/2016

Thailand

559.6

485.5

-13.2

Ecuador

180.8

218.1

+20.7

Spain

95.6

101.6

+6.3

China

89.2

91.1

+2.2

Philippines

64.0

79.5 (e)

+24.0

Indonesia

68.5

76.7

+ 5.7

Import Importers

2016

2017

percent change 2017/2016

USA

190.4

197.2

+3.5

EU28

655.6

725.3

+10.6

Egypt

82.9

32.2

-61.1

Japan

60.4

62.9

+4.2

Australia

44.8

45.6

+1.7

Canada

34.2

31.5

-7.8

Source: National data.

Imports The relatively low prices of frozen skipjack during 2014–2016, generated additional demand in many emerging markets in the Middle East. This was not the case in the large US and EU28 markets, where such boost was absent, particularly for conventional light meat tuna in brine (skipjack and yellowfin) even at lower prices. This is a strong indication that demand for this category of canned tuna has

levelled off in many western markets. However, demand for higher value canned/pouched albacore has improved in the United States of America and in Western Europe.

Spain | Imports | Tuna | Cooked loins Top three origins Unit: 1 000 tonnes, January-December Ecuador Papua New Guinea Total imports

North and South America The 2017 US imports growth resulted from more imports of higher value albacore products (+14 percent at 28 100 tonnes), showing increasing consumer preference for superior quality products, whereas imports of light meat tuna (skipjack and yellowfin) declined by 12 percent (99 400 tonnes), compared with 2016. The average import value of light meat tuna in brine was USD 3.27 per kg compared with USD 4.36 per kg of albacore in brine. The major share of canned light meat tuna (68 200 tonnes) consisted of lower value tuna in brine for which Thailand was the key supplier. Demand for canned tuna in the Canadian market remained soft since 2016 and weakened further in 2017 with falling supplies from Southeast Asian sources

2015

2016

2017

10 0

20 2015

2016

2017

Source: Agencia Tributaria

Bigeye Other species

Albacore total imports

Bigeye Other species

100

United Kingdom | Imports | Tuna | Canned Top three origins Unit: 1 000 tonnes, January-December

USA | Imports | Tuna| Canned/prepared Top three origins Unit: 1 000 tonnes, January-December Albacore total imports

China Other countries

2015

2016

2017

Source: Her Majesty’s Customs & Excise

Source: US-NMFS (includes cooked loins)

European Union (Member Organization) The EU28 market imported more than 700 000 tonnes of canned tuna products, including 140 000 tonnes of precooked tuna. The top five markets were Italy (+12.7 percent at 129 600 tonnes), Spain (+28.4 percent at 121 600 tonnes), the United Kingdom (-6.7 percent at 106 900 tonnes), France (+7 percent at 98 300 tonnes) and Germany (+20.4 percent at 84 200 tonnes). Imports increased in these markets except in the United Kingdom. Imports also increased in the Netherlands (+16.3 percent at 60 900 tonnes), Belgium (+11.4 percent at 18 500 tonnes), Czechia (+12.8 percent at 6 300 tonnes), Romania (+27 percent at 50 100 tonnes) and Hungary (+5.6 percent t 2 700 tonnes), but declined in Poland (-20 percent at 7 800 tonnes). Notably, 70 percent (585 300 tonnes) of the EU28 imports of canned/processed tuna were sourced in non-member countries, namely Ecuador (142 300

Germany | Imports | Tuna | Canned Top three origins Unit: 1 000 tonnes, January-December Bigeye Other species

Albacore total imports

2015

2016

2017

Source: Eurostat/German Customs

GLOBEFISH Highlights | April 2018

tonnes, +25.3 percent), Mauritius (55 700 tonnes, +3.2 percent), Seychelles (51 600 tonnes, -6.3 percent), the Philippines (50 100 tonnes, +40 percent) and Papua New Guinea (38 100 tonnes, +32.7 percent). These countries enjoy tariff privileges in the EU28 market. Within the EU28 countries, trade of high-value processed tuna for direct consumption has been strong, primarily produced by Spain, Italy, France and Portugal. In 2017, imports of cooked loins increased in all four counties (Spain 85 000 tonnes, Italy 37 700 tonnes, Portugal 7 900 tonnes, and France 7 500 tonnes). Spain is the largest producer of high value canned/pouched tuna in Europe and has been able to increase sales within Europe since 2013.

Asia/Pacific Canned tuna demand was mixed in the Asia/Pacific region. Imports weakened in many emerging markets in Central Asia and the Middle East. The imports increase seen in previous years in many medium-to-large markets in the Middle East has ceased due to the rising prices of raw material and to a declining local demand, associated with the geopolitical unrest in the region. In addition, some of the markets are reportedly holding unsold stocks, and this has stopped import growth in 2017. There were significant drops in Thai exports to Egypt, Libya, Saudi Arabia, Jordan, Yemen, Kuwait, among others. Unsold stocks and high prices also affected most of the markets in Southeast Asia. Even though imports declined in most Southeast Asian markets, the strong national currencies in Japan and Australia helped to sustain the positive import trends in 2017. Imports of canned/processed tuna into Japan increased by 4.3 percent in 2017 at 63 000 tonnes, including 5 600 tonnes of katsuobushi (boiled/dried tuna loins). Japan produces high-value canned tuna, mostly consumed in the domestic market. Imports also improved in Australia at 45 600 tonnes (+1.7 percent), after the weakening in 2016.

Prices Despite the worldwide dwindling demand for canned tuna in 2017, the average prices of raw tuna material remained high through the first quarter of 2018. The average CFR Bangkok price of frozen skipjack went up to USD 1 841 per tonne in 2017, compared with USD 1 430 per tonne in 2016, due to lower catch in the main fishing regions. Skipjack prices started to drop in December 2017 (USD 1 700 per tonne) and were down to USD 1 500 per tonne in late March 2018.

GLOBEFISH Highlights | April 2018

Prices Skipjack: Thailand USD/tonne 3 000 2 500

2 000 1 500 1 000 500 0

Source: INFOFISH Trade News

Outlook Tuna catches have dropped worldwide and demand for processed/canned tuna finally improved by the end of first quarter in 2018, leading to increases in frozen skipjack and yellowfin tuna prices. As of April 2018, fishing in the Western/Central Pacific and in the Indian Ocean remained moderate. However, catch in the Eastern Pacific was reported to be poor, the lowest level since 2015. Frozen tuna inventories in Thailand are presently still high. Canneries were closed for a week in early April in celebration of the water festival “Songkran”. European prices for both skipjack and yellowfin tuna recovered, while the market price for cooked, double cleaned yellowfin loins remained stable. The impact of the rising raw material prices may weaken canned tuna demand again in 2018. In Japan, demand for all types of sashimi tuna is expected to be abrupt during the Spring Festival months of April and May. In the West, an increase in demand for canned and non-canned tuna is likely to take place during the upcoming summer months. Therefore, import demand for frozen tuna fillets may increase soon. The present situation of low catches, low demand and fluctuating prices, is causing much concern among the global tuna industry. On 27–29 May 2018, industry leaders are scheduled to meet in Bangkok at the biennial INFOFISH Tuna Trade Conference, where they will discuss the key issues including sustainability, supply and markets.

GROUNDFISH Globefish highlights

Lower quotas, prices rising

The A season for Pacific cod in the Bering Sea started on 20 January 2018, but it may be a short season, due to the TAC reduction and to the allocation of 75 percent of the total TAC to the A season. In the Gulf of Alaska, the TAC for Pacific cod is down by 80 percent due to a sharp fall in the biomass.

Lower quotas have been set for most groundfish species like cod, haddock and Alaska pollock in 2018. At the same time, demand for groundfish is good and growing. Demand for Alaska pollock is clearly increasing, especially in the United States of America, and consequently supplies will be tight and prices are set to go up.

The Russian Federation is increasing its Pacific cod quota by 33 percent to 80 000 tonnes. The reason for the rise is that there has been a higher than expected migration of cod into Russian Federation waters. Pacific cod is the third most important species for the Russian Far East fishing fleet after Alaska pollock and herring. However, it is not expected that this increase in the Russian Federation Pacific cod quota will have an impact on cod prices.

Resources The North Pacific Fisheries Management Council (NPFMC) sets total allowable catches (TAC) for more than 20 commercial species in the Bering Sea and the Aleutian Islands. The TAC for Alaska pollock in the Bering Sea was set at 1 364 341 tonnes, up by 19 000 tonnes compared to 2017. The TAC for Pacific cod was reduced by 15 percent to 204 101 tonnes.

15+6+5365

Groundfish production by selected species, both wild and farmed (2016)

Alaska pollock 15% Atlantic cod 6%

Others 65%

Source: FAO

Largerhead hairtail 6% Blue whiting 5% Croakers, drums 3%

Canadian Atlantic cod fisheries are struggling. According to the Canadian Department of Fisheries and Oceans (DFO), there has been a 29 percent decline in the spawning stock biomass of northern cod off the coasts of Newfoundland and Labrador. This reduction has occurred in the short period of one year. A year ago, the biomass was estimated at 440 000 tonnes, while this year the estimate is only 315 000 tonnes, and it is expected that there will be a further decline in 2019.

Processing The Russian Federation embargo on seafood from several western countries has led the Russian Fishery Company (RFC) to develop more value-added products for consumers in the Russian Federation. The company has converted processing lines on four trawlers in order to be able to produce more Alaska pollock fillets on board. The company plans to equip six more vessels with filleting lines in 2018. The increased production capacity for frozen fillets will reduce the Russian Federation dependency on imported product.

Trade Norwegian cod exports marginally declined from 207 800 to 206 000 tonnes in 2017 (-0.9 percent). The average export prices increased and so did the value of cod exports, which rose by 4.6 percent to NOK 9.1 billion (USD 1.2 billion). The largest markets were Portugal, which imported 44 000 tonnes of Norwegian cod products. Much of this was klipfish or salted and dried fish, which carry a very high per kg price. Average export price for klipfish of cod was NOK 69.94 in 2017, compared to NOK 30.76 for round frozen cod. Other large importers were Denmark and China.

GLOBEFISH Highlights | April 2018

China | Imports | Cod Top three origins Unit: 1 000 tonnes, January-December

United States of America Other countries

Norway Total imports

Norway Other countries

Iceland Total imports

120

225

200

210

150

195

100

180

2015

2016

2017

165

Source: China Customs

United States of America Other countries

China Total imports

800

700

600

675

400

650

200

625

600

2015

2016

Source: China Customs

2017

Germany | Imports | Alaska pollock Top three origins Unit: 1 000 tonnes, January-December China

United States of America Other countries

Total imports

100

146

144

142

140

138

2015

Source: Eurostat

GLOBEFISH Highlights | April 2018

2016

2015

2016

2017

Source: Eurostat

China | Imports | Alaska pollock Top three origins Unit: 1 000 tonnes, January-December

Netherlands | Imports | Cod Top three origins Unit: 1 000 tonnes, January-December

2017

136

For several years, the Norwegian Seafood Council (NSC) has been promoting “skrei”, the springspawning cod caught in the Lofoten and Vesterålen regions in Northern Norway. The campaign has been a success and has increased exports of highquality cod to the EU28. But this year the sales of “skrei” have declined, while sales of “ordinary” cod have gone up. The NSC has not offered any good explanation for the change. Exports of Alaska pollock from the Russian Federation increased slightly from 839 400 tonnes in 2016 to 855 700 tonnes in 2017 (+1.95 percent). Major markets were China (601 100 tonnes, 72 percent of the total), and the Republic of Korea (233 200 tonnes, 28 percent of the total). China imported 677 800 tonnes of Alaska pollock in 2017, up 7.7 percent from 2016. By far the largest share of this came from the Russian Federation at 601 100 tonnes (89 percent of the total), while the United States of America shipped 65 300 tonnes (9.6 percent). Most of this imported Alaska pollock is processed and then re-exported, and in 2017, China exported 305 600 tonnes of pollock products, up from 288 400 tonnes in 2016 (+6 percent). The main destinations for Chinese processed Alaska pollock were Germany (83 200 tonnes, -11 percent compared to 2016), the Republic of Korea (49 200 tonnes, +89 percent) and the United States of America (29 300 tonnes, -17 percent). Chinese imports of cod products also increased slightly, by 3.6 percent to 208 600 tonnes. The largest suppliers were the Russian Federation (97 000 tonnes), the United States of America (45 300 tonnes) and Norway (38 400 tonnes). US exports of Alaska pollock to the EU28 fell by 6.9 percent to 131 900 tonnes during 2017. The value decline was even greater (-7.5 percent) from USD 364 million in 2016 to USD 337 million in 2017. The largest single markets for US Alaska pollock in 2017 were the Netherlands, Germany and France.

Over the years, Namibia and South Africa have built a good stable market for Cape hake in Europe. The Namibian hake fishery is expected to achieve MSC certification later this year, and that will help maintaining a good position in the EU28 market. Most of this fish goes to Spain and Germany.

China | Exports | Alaska pollock Top three destinations Unit: 1 000 tonnes, January-December Germany United States of America Total exports

DPK Other countries

200

324

150

312

100

300

288

2015

2016

276

2017

Source: China Customs

DPK refers to the Democratic People’s Republic of Korea

Russian Federation | Exports | Alaska pollock Top three destinations Unit: 1 000 tonnes, January-December China Belarus Total exports

Republic of Korea Other countries

800

860

600

840

400

820

200

800

2015

2016

780

2017

Source: Federal Customs Service of Russia

Norway | Exports | Cod Top three destinations Unit: 1 000 tonnes, January-December Portugal China Total exports

Denmark Other countries

100

212

208

204

200

196

2015

2016

2017

Source: Norway Bureau of Statistics

192

Before Easter 2018, there was growing demand for haddock and cod in the UK market, and prices were increasing. Good supplies from Iceland, supplemented by products from Norway, Scotland and Denmark, helped make the fish readily available in a whitefish-hungry market. At the retail level, there was also good demand for haddock and cod in the UK market. Over the 12-month period from February 2017 through February 2018, retail sales of haddock rose 4.3 percent by volume and 6.7 percent by value. Haddock prices in the United Kingdom increased 2.2 percent during the same period, while cod prices increased by 5.5 percent.

Prices Norwegian export prices for cod have been on a rising trend since March 2017, but it has been a rollercoaster ride. In January 2018 fresh fillet prices as well as whole fresh prices dropped, while prices for both frozen cod fillets and whole frozen cod increased. The cod season in Norway started well with high prices. In January, first-hand prices to the fishers for fresh cod were on average up from NOK 25.18 (USD 3.20) per kg in 2017 to NOK 26.69 (USD 3.40) per kg in 2018. Frozen cod prices climbed from NOK 28.82 (USD 3.70) per kg in January 2017 to NOK 30.96 (USD 4.00) per kg in January 2018. With the reduced quotas for Atlantic and Pacific cod, Alaska pollock and haddock, prices started to rise at the end of 2017. The rising prices are also affecting Chinese processors. Prices for H&G Atlantic cod from the Russian Federation were quoted at USD 3 900–4 000 per tonne, while prices for haddock were quoted at USD 3 100–3 200 per tonne. In March 2018, cod prices had moved up to USD 4 350 per tonne CIF China. Chinese processors fear that prices may continue to rise. Demand for Alaska pollock fillets is strong, and during the North Atlantic Seafood Forum in Bergen (Germany) in March 2018, one of the speakers predicted that it would be even stronger in the months to come. One of the reasons for this is that Americans have caught on to the story of the “wild Alaska pollock”, an “American” fish that competes well with foreign products. But demand will be good in other markets, too. According to the speaker, demand for single and double frozen Alaska pollock would be about 540 000 tonnes in 2018. This is 40 000 tonnes above the supply forecast. Consequently, supplies will be very tight, and prices will rise.

GLOBEFISH Highlights | April 2018

Export price Cod: Norway 120 100 80 60 40 20 0

Fresh cod fillets

Frozen cod fillets

Source: Norwegian Seafood Council

Outlook

ÂŠFAO/Marco Salustro

The outlook for 2018 is for tighter supplies for practically all groundfish species. Alaska pollock will be in great demand but supplies will probably not be enough. Cod and haddock supplies will also be tight, and prices are bound to go up further, according to industry sources. Some markets may opt for farmed whitefish species like pangasius and tilapia, but these species will be substitutes for the lower end of the market.

GLOBEFISH Highlights | April 2018

ÂŠ Fotolia - Miguel Garcia Saaved

CEPHALOPODS Globefish highlights

Continued shortage of octopus, while the squid season looks good Global octopus resources have been taxed heavily for years, and supplies are down, which is reflected in the reduced trade and higher prices. Chinese squid vessels have been very active in international waters off South America throughout 2017. Squid landings look good this season; during the first two months of 2018 in Argentina, landings were significantly up.

Octopus Octopus fisheries are largely unsustainable, according to a report released by the Sustainable Fisheries Partnership (SFP). According to the report, less than 1 percent of the world’s octopus fisheries are classified as sustainable. Among the fisheries that have received sustainability certification is the Asturias fishery in Spain and the giant Pacific octopus fishery in Alaska. SFP calls on consumers to put pressure on the industry to promote improvements and points to consumers and the industry in Japan, the Republic of Korea, Viet Nam and China to take action to improve. With global octopus resources being vulnerable, the updates from researchers working on octopus farming are encouraging to the growing market interest in octopus and related high prices. Scientists from the Spanish Institute of Oceanography (IEO) in Tenerife and Vigo reported that their results for the common octopus (Octopus vulgaris) larvae have improved the viability of octopus farming. Although IEO does not claim that they have closed the cycle in captivity, they claim that their trials achieved higher survival rates than those achieved in earlier experiments. However, it is undetermined how long it will take to see commercial outcomes from this research. Republic of Korea | Imports | Octopus Top three origins Unit: 1 000 tonnes, January-December China Thailand Total imports

77+11+1

Cephalopods production (2016) Cuttlefish 11%

Octopus 11%

Source: FAO

Others 1%

Squid 77%

Viet Nam Other countries

2015

2016

2017

Source: Korea Trade Statistics Promotion Institute

Trade Imports of octopus to Japan declined by almost 4 percent in 2017 (54 300 tonnes) compared to 2016 (56 500 tonnes). The largest octopus supplier was Mauritania accounting for 28.5 percent of the total Japanese imports, shipping 15 500 tonnes of octopus

GLOBEFISH Highlights | April 2018

(+6.3 percent). Morocco and China decreased their shipments to Japan, by 17.6 percent and 4.4 percent, respectively. The Republic of Korea decreased their octopus imports in 2017 by almost 5 percent from 84 600 tonnes to 80 300 tonnes, and there were major changes among the suppliers. Imports from China fell to 39 000 tonnes (-17.2 percent), though China still accounts for almost half of the octopus imports to the Republic of Korea. Viet Nam increased shipments to the Republic of Korea to 29 000 tonnes (+18.4 percent). Other major suppliers were Thailand (6 700 tonnes, +9.8 percent), Mauritania (2 300 tonnes, -26 percent), and Indonesia (1 100 tonnes, -9.7 percent). Since December 2017, Moroccan octopus prices have been increasing weekly. Through January 2018, prices were higher than record prices in 2017. It is mainly Spain that is buying at these higher prices, while Italian importers have shifted to smaller sizes that come at lower prices. But even Spanish importers are buying sizes T6, T7 and T8.

Squid The SFP has also reported on the state of sustainability of global squid fisheries, and regrettably, the situation is just as serious for squid as it is for octopus. Less than 1 percent of the global squid production is recognized as sustainable or improving. There are four squid fisheries (Argentina shortfin and jumbo flying squid) from China and the Republic of Korea operating off the coast of South America that do not appear to be engaged in improvement efforts. These fisheries account for as much as 20 percent of the global production. The Alaska Board of Fisheries is currently considering a proposal to develop a new fishery for market squid (Doryteuthis opalescens) in Alaska. Normally, Alaskan waters have been too cold for squid to thrive there, but in recent years warm water has been pushed up from the south during strong El Niño years, and since 2015 market squid have been found in these waters.

RECENT NEWS Business and scientific representatives from Peru, Chile and Ecuador have established a new giant squid management committee. The committee for the sustainable management of the South Pacific giant squid, Calamasur, will be working together with the South Pacific Regional Fisheries Management Organisation (SPRFMO), and will be designing and operating a fisheries/biological/ environmental monitoring programme as well as a stock assessment model. The committee was formed in response to the absence of regulation of the sustainable management of the giant squid resource.

GLOBEFISH Highlights | April 2018

The Argentine squid season was off to a good start this year, as landings of 22 000 tonnes of Illex argentinus were reported during the first three weeks of fishing. Both jiggers and trawlers reported good catches. The good fishery continued into the beginning of March. At the same time, larger sizes were being caught. While in January mostly size SS were landed, in February size S were caught and in March more squid of size M were landed. January landings in Argentina were significantly up in 2018, totalling 17 700 tonnes, compared to just 1 000 tonnes in January 2017, though the season started a later in 2017. The Falkland Islands (Malvinas) are concerned about the large fleet of squid fishing vessels targeting the Illex squid resource about 400 miles north of the Islands. The authorities are apprehensive that higher catches in these international waters will affect catches in their waters. Since January 2018, there has been a growing number of Asian jiggers fishing on these international waters. These vessels were active even before the official fishing season USA | Imports | Squid and cuttlefish Top three origins Unit: 1 000 tonnes, January-December China India Total imports

Taiwan Province of China Other countries

2015

Source: US-NMFS

2016

2017

Spain | Imports | Squid and cuttlefish Top three origins Unit: 1 000 tonnes, January-December Falkland Islands (Malvinas)

Peru

India

Other countries

Total imports

200

300

150

290

100

280

270

2015

2016

Source: Agencia Tributaria

2017

260

in Argentina started on 10 January. In 2017 Illex and Loligo catches in waters of the Falkland Islands (Malvinas) amounted to 67 000 tonnes and 64 500 tonnes, respectively. This represented an increase over 2016 landings, but a decline compared to landings in 2014 and 2015.

2016). The largest supplier was China accounting for almost 60 percent of the total US imports of squid and cuttlefish with 47 400 tonnes, (+3 percent). Other large suppliers were Taiwan Province of China with 7 700 tonnes (+14.3 percent) and India with 5 900 tonnes (+17 percent).

Chinese vessels have also been active near Peruvian waters. The season ended in the middle of November 2017, and it was estimated that from June to November about 200 000 tonnes were caught. Prices of Peruvian giant squid on the Chinese market have been rising recently.

In 2017, Spain was the dominant importer in Europe, with squid and cuttlefish imports totalling 291 500 tonnes, 6.2 percent more than in 2016. The largest suppliers were the Falkland Islands (Malvinas) with 51 300 tonnes (+17.6 percent), Peru with 50 200 tonnes (+17.2 percent) and India with 41 000 tonnes (+14 percent).

There is a shortage of squid in the market of the Republic of Korea. A large Chinese fleet is fishing for squid in the Democratic People’s Republic of Korea part of the East Sea, and this negatively affects fishing in the south. Chinese vessels started operating in the area in 2004, starting with 140 ships. Currently, 1 238 Chinese vessels are operating there.

Trade Japanese imports of squid and cuttlefish increased by 14.4 percent last year, to a total of 183 100 tonnes. The largest suppliers were China, Chile and Peru. China shipped 100 600 tonnes, accounting for an impressive 55 percent of the total. Chile shipped 14 800 tonnes (+3.3 percent), while Peru shipped 14 800 tonnes (+3.3 percent). The biggest increase in shipments was recorded by the United States of America, which shipped 8 900 tonnes (+214 percent). Viet Nam also significantly increased shipments of squid and cuttlefish to Japan to 9 200 tonnes (+38.6 percent). Imports of squid and cuttlefish to China in 2017 were stable at 293 700 tonnes, just 0.3 percent lower than in 2016. The major suppliers registered increases. Imports from the Democratic People’s Republic of Korea increased to 85 500 tonnes (+9.5 percent), accounting for 29 percent of the total. The second largest supplier was Indonesia with 50 700 tonnes (+1.4 percent), followed by Peru with 45 400 tonnes (+27 percent) and the United States of America with 27 300 tonnes (+37.6 percent). Taiwan Province of China registered the largest increase in shipments of squid and cuttlefish to China, totalling 22 300 tonnes (+ 180 percent), compared to 2016.

Prices Squid: Italy EUR/kg 9 6 3 0

Source: GLOBEFISH European Price Report Whole, FAS, middle size, origin: South Africa

Outlook It looks like octopus supplies will continue to be tight, and consequently prices may go up. Squid supplies, on the other hand, look good in 2018, with good landings in South America so far. Trade should be increasing, with China clearly in the lead as both importer and exporter. Squid prices are expected to stay relatively stable or decline marginally.

China is also an important exporter of squid and cuttlefish. A total of 515 700 tonnes were exported in 2017, 5.8 percent less than in 2016. Major markets for China were Japan (103 300 tonnes, +10.8 percent), Thailand (54 000 tonnes, -20.7 percent), and the United States of America (51 000 tonnes, - 3 percent). In recent years the United States of America has become an important player in the cephalopods market. Squid and cuttlefish imports have been relatively stable at around 78 000–80 000 tonnes per year. In 2017, total imports of these species amounted to 79 400 tonnes (-0.2 percent than in

GLOBEFISH Highlights | April 2018

TILAPIA Globefish highlights

Non-traditional markets lead the way Global tilapia production is estimated to have remained firm in 2017, with increases from producers other than China, where production is estimated to have continued to be steady. International tilapia trade in 2017 grew due to demand from many non-traditional emerging markets namely Africa and Asia. In 2017, global tilapia exports (fillet and whole frozen) were close to 330 000 tonnes, while global tilapia imports (fillet and whole frozen) reached approximately 360 000 tonnes. In the main markets of the United States of America, Mexico, Côte d’Ivoire and the Islamic Republic of Iran, there were declines, while there was revival in the EU28 market. African countries continue to absorb more tilapia from imports, while domestic markets of producing countries in Asia absorb more tilapia from local production.

Total tilapia exports from China experienced a marginal drop (-0.7 percent) to approximately 383 000 tonnes in 2017 compared to 2016, due to harsh winter conditions last year. Frozen breaded tilapia fillet is the only category that showed positive growth in 2017. Exports to African markets continued to increase, representing 28 percent of the total Chinese tilapia exports in 2017, compared with the 19 percent share recorded in 2012. African markets remain interesting for Chinese investment. Reportedly, a Chinese-owned company invested USD 1 million in production facilities in Angola. On the other hand, the share of the United States of America in total Chinese tilapia exports dropped from 48 percent in 2012 to 33 percent in 2017, totalling approximately 130 000 tonnes. Meanwhile, the rapid development of retail, cold chain and the transportation system in China encouraged increased domestic consumption of tilapia. This fish is being consumed in a variety of ways, including live, whole fresh, fillet, and used as a base for preparations such as fish balls and fish cakes.

United States of America The US market weakened further in 2017 despite lower average import prices indicating a decrease in consumer demand. Total tilapia imports fell to 175 137 tonnes, a nearly 7 percent drop from 2016. Imports declined from most major sources including China, the largest supplier (130 000 tonnes), during the review period.

USA | Imports | Tilapia Top three origins Unit: 1 000 tonnes, January-December China Honduras Total imports

China In 2016, tilapia production grew by 4.88 percent to reach 1.86 million tonnes, FAO Fishstat reports. Industry sources estimate that the total production of tilapia in China during 2017 remained firm amidst the declining demand from the US market and the several typhoons, which hit China last year.

GLOBEFISH Highlights | April 2018

Taiwan Province of China Other countries

200

240

150

180

100

120

2015

2016

Source: US Census Bureau

2017

Prices Tilapia: USA USD/lb

Other countries, such as El Salvador, are aiming to promote this popular species. For example, the Ministry of Agriculture and Livestock offers free technical assistance to Salvadoran fish farmers at all stages, from pond construction to harvest.

RECENT NEWS

4 2 0

Chilled tilapia fillets: Primary wholesale, NY, USA, origin: Costa Rica; Frozen tilapia fillets: 3-5 oz/lb, EXW NY, USA, origin: China

Source: INFOFISH Trade News

Latin America Brazil is the fourth main tilapia producer worldwide behind China, Indonesia and Egypt, producing 357 600 tonnes in 2017, a 13 percent increase from the previous year, according to the Brazilian Farming Association. Tilapia accounted for 51.7 percent of Brazilian aquaculture fish production, surpassing native fish, carp and trout. The aquaculture industry in general registered an increase of 8 percent. Parana was the biggest state producer of tilapia (105 300 tonnes), followed by São Paulo (66 100 tonnes) and Santa Catarina (32 900 tonnes). Presently, this production is going almost exclusively to the domestic market. Honduras exports of seafood products was valued at USD 300 million in 2017, according to data from the Ministry of Agriculture and Livestock, with the boost of shrimp and then tilapia. Local producers reported that enough red tilapia (Oreochromis mossambicus) stocks are available to supply the domestic market starting in early March 2018, after a shortage and high prices (increases up to USD 1.56 per pound in the north and central part of Honduras) were registered due to low temperature and rain in the main farming areas. In Honduras, warmer temperatures are expected to accelerate sizes and reach commercialization weights to enter the market. Supply normalized to meet the demand during Easter. Tilapia production is one of the activities that contribute most to the national economy. CONAPESCA announced that Mexico is now generating 25 percent of the total Latin American production of tilapia due to their public policies and producers’ efforts. Authorities believe that training promotion and adoption of technology should continue, which in addition to the effort of the producers, will allow the country to be ranked as a productive power in a few years.

The Peruvian National Fisheries Health Agency (SANIPES) confirmed the presence of TiLV in Piura and San Martin regions, but the government explained that it does not threaten or endanger public health. Since June 2017, an Emergency Plan was implemented after FAO issued a special alert about the appearance of the disease. At that time, TiLV or unusual mortality was not detected. By the end of 2017, unusual mortality was observed both in the farming and the wild sectors. People involved in tilapia production are being trained in preventive controls to reduce risks. Regional authorities were asked to restrict international and interregional border movement of live tilapia in all their life stages.

European Union (Member Organization) Imports to the EU28 of total tilapia (whole and fillet) increased to 28 300 tonnes in 2017, 5.3 percent more than in 2016. Comparatively weaker average import prices stimulated this increase, particularly from China, which supplied 78 percent of the total EU28 imports. Average import price of frozen fillet from China was USD 2.65 per kg compared to USD 2.75 per kg in 2016. Within the EU28, Poland surpassed Spain and became the largest market for tilapia, importing 4 700 tonnes in 2017, compared with 3 200 tonnes the year before. Meanwhile, Brazilian producers are now targeting the EU28 market for tilapia and actively seeking partnerships, though official export figures are still unavailable.

Asia The region continues to be the main producing region, as tilapia is popular and widely consumed in a variety of preparations. Nearly the entire Asian production from producers aside from China enters the domestic market. Regional production of tilapia increased to 4.25 million tonnes in 2016 (+2 percent compared with 2015), according to latest FAO statistics. Seven producers from Asia were among the

GLOBEFISH Highlights | April 2018

top ten global producers, namely China, Indonesia, Bangladesh, Philippines, Viet Nam, Thailand and Taiwan Province of China. Strong domestic demand in these countries likely led to a marginal increase in their tilapia production in 2017. In 2017, total exports from Asia amounted to nearly 310 000 tonnes, marginally declining from 2016, as more production entered domestic markets. Taiwan Province of China, once the leading exporter of tilapia, exported close to 23 000 tonnes of tilapia in 2017, nearly 80 percent of which was whole frozen tilapia shipped to the major markets of the United States of America and the Middle East. Chinese exports of frozen tilapia January - December

2015

2016

2017

(1 000 tonnes) Frozen fillets United States of America

84.0

62.5

57.9

Mexico

24.0

28.9

21.1

Iran (Islamic Republic of)

10.7

16.4

13.5

Other countries

34.5

38.6

44.0

Total

153.3

146.4

136.6

Cote d'Ivoire

20.8

29.5

27.4

United States of America

22.6

25.6

22.6

Burkina Faso

6.9

3.5

7.5

Frozen whole

Other countries

82.3

74.3

74.1

Total

132.7

132.8

131.6

Source: TDM

Outlook Current high ex-farm prices in China mainly due to soaring demand during the Chinese New Year in February is expected to soften as production increases from May onwards. When production levels increase in the coming months, which will likely lead to lower prices, demand in the traditional major markets will rise. African markets continue to be poised for further growth. Asia will continue to be the main contributor of global production driven increasingly by a strong domestic demand. In Brazil, tilapia production is expected to grow up to 15 percent in 2018, with more farmers focused on the species. As Brazilian producers now target the EU28 market for tilapia, there will be a future alternative source in the global market besides China and other Asian countries.

GLOBEFISH Highlights | April 2018

PANGASIUS Globefish highlights

Asia and Latin America lead the way, tight supplies keep prices up Prices of pangasius fillet continue to soar with the strong demand from China coupled with shortage in supplies. In 2017, average import prices in international markets ranged between USD 1.35–4.10 per kg. Approximately 540 000 tonnes of pangasius (whole and fillet) entered the international market in 2017. The US and EU28 markets remain weak, while positive growth persists in Asia, the Pacific and Latin America, the largest regional markets for pangasius. Viet Nam, the leading producer of pangasius targets to earn USD 2 billion from exports in 2018, amidst facing higher anti-dumping duties by the US Department of Commerce (DOC).

Viet Nam Total exports of pangasius from Viet Nam in 2017 were valued at USD 1.78 billion, up 4.3 percent against 2016, the Viet Nam Association of Seafood Exporters and Producers announced. The United States of America remains the single largest market although exports declined by 11.1 percent in value. Among the markets that showed positive growth were China, Hong Kong SAR, Association of Southeast Asian Nations (ASEAN) markets, Brazil, Mexico and Saudi Arabia. According to the Agro Processing and Market Development Authority (APMDA) under the Viet Nam Ministry of Agriculture and Rural Development (MARD), the United States of America’s recent anti-

dumping ruling would affect the brand name, image and prestige of Vietnamese tra fish in the international market, as well as business and production strategies of local firms. The agency suggested domestic tra fish businesses proactively shift to other markets such as China, Brazil, Mexico, Colombia and ASEAN, while also upgrading production conditions to improve the quality and safety of products to meet regulations set by importers. In addition, those businesses should reduce prices, diversify products, and increase the volume of value-added products, to reduce unhealthy competition that affects the quality and price of Vietnamese tra fish in the global market. Meanwhile, a source from the industry said that pangasius producers are also now increasingly producing smaller size fillet to cater to its growing demand in the US market.

RECENT NEWS Following the completion of an antidumping investigation on 15 March 2018, the US DOC has decided to impose a higher tariff on Vietnamese pangasius. The new tariff stands at USD 7.74 per kg on products from the two companies that were subject to the investigation. Other exporters face a fee of USD 3.87 per kg, the highest tax the United States of America has ever imposed on Vietnamese pangasius. The Viet Nam Association of Seafood Exporters and Producers (VASEP) announced that Viet Nam will bring the matter to the US Court of International Trade as soon as possible and described DOC’s decision as “punitive, unfair, and unlawful.” Viet Nam Ministry of Industry and Trade (MOIT) also called on the United States of America to review the decision to make sure it is fair for Vietnamese companies. The ministry said it is working with VASEP and other relevant agencies “on measures to ensure the legitimate rights and interests of the local exporters.” Viet Nam has also filled a complaint with the WTO to challenge US restrictions on imports of pangasius from Viet Nam.

GLOBEFISH Highlights | April 2018

United States of America Higher prices and lower demand resulted in decreased imports of pangasius in the US market in 2017. However, frozen catfish fillet imports increased from sources other than Viet Nam in 2017, namely China, Myanmar, Indonesia, India and Bangladesh. In total these countries supplied the US market with close to 6 000 tonnes during 2017, while total imports of frozen pangasius from Viet Nam dropped by about 19 percent to 106 000 tonnes. Vietnamese industry sources reported that there is a growing US demand for smaller size fillets, which is leading to its increased production. Higher anti-dumping duties imposed by US DOC on pangasius imports from Viet Nam will likely impact imports further. Average import prices of frozen pangasius strengthened from USD 2.93 per kg in 2016 to USD 3.43 per kg in 2017.

Latin America The region continues to be among the largest markets for Vietnamese pangasius, with Mexico and Brazil taking 75 percent of the market share. Average lower import prices in 2017 encouraged higher imports during this period. Mexico imported close to 60 000 tonnes (+4 percent than in 2016) and Brazil imported approximately 45 000 tonnes (+28 percent). Average import prices ranged between USD 1.80–1.90 per kg in comparison to USD 1.90– 2.00 per kg in 2016.

Asia and the Pacific

USA | Imports | Catfish Top three origins Unit: 1 000 tonnes, January-December Viet Nam Myanmar Total imports

China Other countries

150

120

2015

2016

Source: US Census Bureau

2017

Spain | Imports | Catfish Top three origins Unit: 1 000 tonnes, January-December Viet Nam Germany Total imports

Netherlands Other countries

New Zealand and Australia are important markets in the Asia Pacific region, where imports of pangasius have been increasing. Combined imports of both markets reached close to 7 000 tonnes in 2017 with Australia taking 85 percent of the market share. Australian imports of pangasius overtook imports of hake fillets, stimulated primarily by affordable prices.

Demand for pangasius in the Japanese market increased steadily. In spite of the higher average import prices (USD 3.30 per kg) in 2017 compared with 2016 (USD 3.15 per kg), imports grew by nearly 50 percent to 6 100 tonnes in 2017.

Source: Agencia Tributaria

China has emerged as the fastest growing market for pangasius in the Asia Pacific region in the last two years, with imports almost doubling to reach 53 500 tonnes in 2017. China became the largest market for pangasius (whole and fillets) in Asia, overtaking Thailand. Imports of pangasius frozen fillet into India have been steadily increasing, reaching 15 100 tonnes in 2017 from 3 000 tonnes in 2014. Pangasius fillet is predominantly consumed through the catering trade. Local production of pangasius is also increasing with an estimated 30 000 tonnes in 2017.

Demand for pangasius in most parts of Asia remains firm considering the affordability of the species. The introduction of pangasius to Asia by the Vietnamese has also made the consumption of this fillet popular in the region.

GLOBEFISH Highlights | April 2018

2015

2016

2017

Outlook Demand from markets other than the US and EU28 markets (namely China, Asia and Latin America) will likely be drivers of demand and thus lead to production growth in Viet Nam. There will be also increased production of smaller size fillets for the US market. Nevertheless higher anti-dumping duties imposed by the DOC on pangasius imports from Viet Nam will possibly have an impact on imports into the US market. Industry sources expect prices to strengthen this year.

BASS & BREAM Globefish highlights

Sector undergoing structural changes as production surplus continues to dampen prices The Mediterranean seabass and seabream aquaculture industry, led by Greece and Turkey, is currently experiencing a rise in investment activity, horizontal consolidation and vertical integration. Such development is taking on new importance as the pace of supply growth threatens to overwhelm demand.

19+18+1548

Seabass and seabream production (2016) European seabass 19%

Others 48%

Gilthead seabream 18%

Japanese seabass 15%

Source: FAO

Exports of farmed bass and bream by major producing countries Greece and Turkey rose in 2017, backed by historically high production following a multi-year restructuring of the Greek sector and rapid expansion of the Turkish industry. According to estimates published by Kontali, total harvests for all producers combined reached 157 200 tonnes for seabass and 191 000 tonnes for seabream in 2017, with Greece and Turkey accounting for 69 and 64 percent of these totals, respectively. These figures represent new peaks for both species, and the additional supply kept pressure on prices in all major markets throughout the year, particularly for seabream. A severe price decline has so far been avoided, due to a combination of mitigating factors. In Turkey, margins have been relatively good due to continued currency depreciation that has protected exporters from price declines and made Turkish fish much cheaper for the majority of buyers. Also of importance was the partial recovery of the Russian Federation market and the success that Turkish exporters have had in developing new markets in the Middle East, in countries such as Lebanon, the United Arab Emirates and Israel. A general improvement in economic conditions in the core European markets such as Italy, Spain, France and the United Kingdom has also played a part in increasing demand just enough to prevent extensive damage to producer margins. In Greece, the sale of two of the largest seabass and seabream aquaculture companies, Nireus and Selonda, is expected to be finished in the coming months. Although the details of the deal have not yet been finalized, the end result is expected to be the consolidation of the Greek sector, which should in turn lead to increased efficiency due to economies of scale and a greater degree of price control. This is the latest step towards increased strategic coordination by the Greek industry, which has come to recognize the need for large-scale co-operation between all stakeholders in order to maintain their competitiveness in a market that has an increasing number of newer players, mainly in Turkey, but also in other Mediterranean countries such as Croatia and Malta. Efforts to achieve this began in 2016 with the establishment of the Hellenic Aquaculture Producers Organization (HAPO), whose members produce 80 percent of Greece’s farmed bass and bream. Focus has now shifted towards marketing, specifically the creation of a national brand that differentiates Greek fish from cheaper alternatives, primarily by emphasising its quality and origin. Greek producers are simply unable to compete on price terms with major competitors such as Turkey and this is particularly problematic in emerging markets where price is often the primary concern. However, the development of a national brand and the continuing expansion of the organic and sustainability certified

GLOBEFISH Highlights | April 2018

product line will help Greek marketers to protect and grow their own distinct market segment. Due to relatively favourable prices and profit margins, 2017 was a good year for the Turkish seabass and seabream sector. Ex-farm prices for seabream were relatively better than those for seabass. Profit margins encouraged the sector to plan for capacity expansion through investment in new potential sites. Environmentalist groups opposed the allocation and operationalization of new sites in the Aegean and Eastern Mediterranean of Turkey. Site allocation in the Aegean region was resolved by the end of 2017. New production sites (45 000 metric tonnes of licensed capacity) in the Aydin Province will be operative by the end of 2018 or early 2019. This has the potential to increase supply by 45 000 metric tonnes of seabass and seabream, which could be entering the market in 2020 or 2021. According to industry sources, in lack of an efficient market promotion and marketing strategy, this additional supply has the potential to put pressure on prices. Allocation of potential aquaculture sites in the Eastern Mediterranean region of Turkey, namely Mersin, is still pending. During the first quarter of 2018, seabass prices were in the range of USD 3.98–4.50 per kg depending on size category. Starting in March, prices were higher due to a decline in stocks and availability and they expected to soon reach USD 5.5 per kg. Seabream prices continued to be satisfactory during the first quarter of 2018, at about USD 5.10 per kg since January. The devaluation of Turkish Lira (YTL) continued during this period and it is likely that a weak YTL in 2018 will favour exports rather than domestic sales.

Markets

Netherlands

Italy was the largest European market for seabass and seabream, absorbing an estimated 77 100 tonnes of both species combined in 2017. The majority of Turkey | Exports | Seabass | Fresh Top three destinations Unit: 1 000 tonnes, January-December Italy Netherlands Total exports

Italy Other countries

Total exports

2015

2016

2017

Source: Turkey Statistical Institute

Greece | Exports | Seabass | Fresh Top three destinations Unit: 1 000 tonnes, January-December Italy France Total exports

Spain Other countries

Italy

2015

Source: Eurostat

2016

2017

Greece | Exports | Seabream | Fresh Top three destinations Unit: 1 000 tonnes, January-December Italy France Total exports

Lebanon Other countries

Spain Other countries

2015

2016

2017

Source: Turkey Statistical Institute

Turkey | Exports | Seabream | Fresh Top three destinations Unit: 1 000 tonnes, January-December

GLOBEFISH Highlights | April 2018

2015

Source: Eurostat

2016

2017

this volume consisted of Greek fish, supplemented by Turkish supply in the lower priced segment and by domestic production for the higher end product range. Smaller producers such as Malta and Croatia are also supplying rising volumes to the Italian market. Italian imports rose in 2017 as improving economic fundamentals boosted demand, with Italy the top destination for both Turkish and Greek exports. For seabream, 2017 prices remained well below those observed in 2016 for the majority of the year, reflecting the effect of higher harvests in both Greece and Turkey as well as domestically. Bass prices were also lower and declined steeply in the second half of 2017. Italy | Imports | Seabass | Fresh Top three origins Unit: 1â&#x20AC;&#x2030;000 tonnes, January-December Greece

Turkey Other countries

Total imports

9 6

3 0

2015

2016

2017

Source: ISTAT - National Institute of Statistics

Italy | Imports | Seabream | Fresh Top three origins Unit: 1â&#x20AC;&#x2030;000 tonnes, January-December Greece Malta Total imports

Turkey Other countries

2015

2016

2017

French imports of seabass and seabream rose by 9 and 12 percent, respectively, in 2017, with Greece supplying the majority of this volume and Spain the second placed supplier. Less expensive fish from Turkey is becoming more popular with French buyers, although the Turkish share of the French market was smaller than in other large European markets. Economic expansion was the primary reason behind strong French demand and relatively firm prices.

The Portuguese market for bream has expanded rapidly in recent years, outgrowing the small domestic sector to the point where 14â&#x20AC;&#x2030;000 tonnes of imports were required to meet demand in 2017. Approximately 40 percent of this volume was supplied by Greece, with Spain and Turkey supplying 34 and 21 percent respectively. Bass imports have also risen, although not to the same extent. Meanwhile, the Russian Federation market has shown some signs of recovery, a welcome development for Turkish exporters. In the United Kingdom and the United States of America, demand for bass, particularly Turkish seabass, continued to grow, while seabream import volumes stagnated.

Outlook

France

Other markets 27

domestic production, driven by continuing investment into the sector, offset a slight drop in bream imports. Prices for both seabass and seabream were lower at Spanish wholesale markets in Barcelona and Madrid, particularly for smaller sizes, with the drop relatively more pronounced for bream than for bass.

Source: ISTAT - National Institute of Statistics

Spain Consumption of bass and bream was relatively high in Spain in 2017 as strong economic growth saw consumer spending rise and lower prices increased the relative attractiveness of bass and bream compared with alternative seafood items. Higher

Typically, the annual upturn in seabass and seabream prices is kickstarted by the arrival of Easter and associated demand. In 2018, however, reports from the European market suggest that prices are still sluggish and fish are plentiful. Merger and acquisition activity is expected to continue across the sector, including in Turkey, with large investment funds and multinational corporations playing an increasingly important role in driving consolidation. Ongoing vertical integration, whereby aquaculture companies acquire feed and juvenile production facilities, is also contributing to the changing structure of the industry. Broadly speaking, the seabass and seabream sector is following a similar path to that of the farmed salmon sector, which has grown into a large, profitable, global industry. The shift towards a more coordinated international marketing campaign is also comparable to the salmon sector, although on a significantly smaller scale. In the shorter term, however, the continuing firmness of demand, and the relative stability of prices, will be more dependent on good economic conditions in core markets.

GLOBEFISH Highlights | April 2018

SALMON â&#x20AC;&#x192; Globefish highlightsâ&#x20AC;&#x192;

Steep price slide in the second half of 2017 brings some stability back to the market A general shortage of farmed Atlantic salmon persisted throughout the first six months of 2017 and prices remained high after the record heights reached at the end 2016. From midsummer onwards, however, the release of large quantities of backed up supply volumes onto the market brought prices down to levels not seen since late 2015, restoring some degree of balance to a still booming sector.

Salmon production by species, both wild and farmed (2016)

69+10+9651

Coho salmon 5% Sockeye salmon 6% Chum salmon 9% Pink salmon 10%

Source: FAO

GLOBEFISH Highlights | April 2018

Others 1%

Atlantic salmon 69%

Top three global producers of farmed Atlantic salmon Unit: 1â&#x20AC;&#x2030;000 tonnes Norway United Kingdom

Chile Other countries

1 600

2 400

1 200

2 320

800

2 240

400

2 160

2015

2016*

2017*

2 080

Source: FAO (until 2015), *estimate

Norway After a 5 percent drop in 2016, Norwegian farmed Atlantic salmon production rebounded in 2017, driven by improved biological performance and good water temperatures over the summer months. The total harvest of 305 million fish was 3 percent higher than the previous year, although these volumes were heavily concentrated towards the latter half of 2017. Although a spike in harvest volumes in the third quarter is typical in Norway, this was an abnormally large quantity of fish for the market to absorb over such a short period of time and prices inevitably suffered. Starting at their highest point of almost NOK 80 per kg at the start of 2017, Norwegian salmon export prices fell steeply from June onwards, bottoming out at around NOK 45 per kg in early December. Despite the rapid price decline later in 2017, relatively higher prices earlier in the year translated into a higher average export price of NOK 56 per kg compared with NOK 54.5 per kg in 2016. Norwegian total salmon export revenues of NOK 64.7 billion for the year set a new record, supported by slowly accelerating economic growth in a number of important markets and a diversification of its export destinations. The EU28 remains by far the largest market for farmed Norwegian salmon, but its share of total value dropped to 71 percent in 2017, compared with 74 percent in 2016. Demand in the EU28 has increased due to improving economic conditions, but exceptionally high prices have driven some consumers away from salmon. In contrast, Asian markets increased their share, as did the US market. China and Norway resumed Free Trade

Agreement (FTA) negotiations in 2017, and Norway’s access to this key market has improved after being restricted as a result of political disputes. Norwegian fresh salmon exports to China are currently subject to a 10 percent tariff. China and the United States of America are being actively targeted by the Norwegian industry due to the size and future growth potential of these two markets. Norway is also diversifying into new markets for its farmed salmon such as Viet Nam, the Republic of Korea and Thailand. Forecasts for Norwegian farmed Atlantic salmon production growth in 2018 were optimistic earlier in the year, with some analysts anticipating an increase of as much as 10 percent. However, colder than expected water temperatures and related mortalities led to a relative scarcity of fish towards the end of March 2018 and prompted downward revisions of those forecasts. At the same time, the response of prices to Easter demand demonstrated the continuing strength of consumer demand for farmed salmon, pushing the Fish Pool Index for fresh whole salmon back up to NOK 71 per kg by week 10. Fish Pool forward prices for the second quarter have risen to NOK 70 per kg, although in the latter half of 2018 supply is expected to be sufficient to keep prices down around NOK 55–57 per kg. Although the supply of farmed Norwegian trout received a boost from the same positive environmental and biological conditions affecting salmon growth in the second half of 2017, biomasses remained at low levels relative to historical norms and total exports were down 41 percent in volume and 27 percent in value in 2017. Fresh farmed trout

prices peaked at near NOK 80 per kg in the second quarter of 2017, but had fallen back to around NOK 55 per kg by early 2018.

Chile Chilean salmon industry is showing positive progress in environmental, health, productive and economic terms due to the measures implemented by the Government. Around 58 percent of the farming centres presented excellent health performance, with less than 10 percent losses in their productive cycle. In the midst of this growth, there were mergers and acquisitions, investments and expansion plans in the business sector. At the end of 2017 Chilean production of farmed salmon had recovered to the events of 2016. Around 582 000 tonnes of Atlantic salmon were harvested in 2017, 15.2 percent more than in 2016, and representing 73.6 percent of the overall Chilean fish harvest. Roughly 75 000 tonnes of rainbow trout were produced, 4.1 percent higher than in 2016, and 9.5 percent of the total fish harvest. Pacific salmon harvest levels reached 134 000 tonnes during 2017, representing a remarkable 35 percent growth compared to 2016, and 16.9 percent of the total fish harvest. The Central Bank of Chile reported salmon exports worth USD 4 622 million during 2017, 19 percent higher than the USD 3 866 million in 2016.

Norwegian exports of salmon

January-December

1 000 tonnes

2015

2016

2017

Poland

137.7

137.9

129.7

France

119.0

111.7

100.8

Denmark

76.5

72.9

84.2

Other countries

616.8

575.6

601.2

Total

949.8

898.1

916.0

Sweden

9.9

9.4

10.9

United States of America

9.0

7.4

10.7

Israel

5.7

4.5

6.5

Other countries

48.2

50.3

37.8

Total

72.8

71.6

65.8

Fresh

Frozen

Prepared Australia

0.7

0.6

0.7

United States of America

0.1

0.2

Italy

0.2

Other countries

1.3

1.2

1.3

Total

2.4

2.2

2.5

Source: TDM

Chilean exports of salmon

January-December

2015

2016

2017

United States of America

99.5

96.1

95.3

Brazil

80.6

67.8

73.1

China

6.7

13.5

11.2

Fresh

Other countries

12.6

11.9

13.3

Total

199.4

189.3

192.9

Japan

112.6

82.6

95.8

Russian Federation

56.4

45.8

40.1

Frozen

United States of America

16.0

17.6

18.8

Other countries

110.4

103.7

101.8

Total

295.3

249.7

256.5

United States of America

1.9

1.3

1.4

Japan

0.1

0.0

0.3

Canada

0.2

Other countries

0.8

0.6

Total

2.9

2.1

2.5

Prepared

Source: TDM

GLOBEFISH Highlights | April 2018

Regarding disease problems, an intense growth in the flowering of harmful algae set off the alarms in the region of Aysén and south of Los Lagos. This abundance increased in rates that were not seen for the past nine years. Other areas have witnessed this issue and the event is comparable to the one occurred in 2009. This has worn the salmon farming industry although no significant mortalities have been recorded yet. Some analysts forecast that the industry will grow about 6 percent during the next two years, compared with the previous productive period, taking into account all measures applied. The observed harvests growth and the price improvement offer an encouraging outlook, and is ideal for new mergers and/or acquisitions.

United Kingdom The Scottish salmon farming industry has established a firm foothold in Europe, particularly in France, in the United States of America and in China. Exports to all three countries rose in 2017. This diversification of core markets combined with high prices, booming demand and a weaker currency has created ideal conditions for rapid export revenue growth and good profits. However, sea lice and environmental issues remain a concern for the industry and a focus for negative media coverage. In the second quarter of 2018, UK exporters have reported the same price spike as their Norwegian counterparts on the back of strong Easter demand. The first market for Scottish salmon continues to be the United Kingdom. For UK consumers, salmon remains the number one seafood choice, although prices at retail level rose 16.6 percent in 2017, according to Nielsen. Total volume sold dropped by 10 percent to 51 600 tonnes but total value was up by 4.6 percent to GBP 916 million.

Wild salmon Russian Federation harvests of wild salmon reached 353 000 tonnes in 2017, a decrease of 6 percent compared with 2015, the last comparable year. Meanwhile, reports from Alaska put the 2017 total at 473 000 tonnes, 3 percent less than in 2015. The projected total harvest for the coming season in Alaska is 34 percent lower, although this is mainly due to the typical drop in pink salmon harvests in even-numbered years. In the Russian Federation, however, a record-breaking pink salmon harvest has been forecasted, pushing the total to 492 000 tonnes, with pink salmon catches contributing 69 percent of this total.

Markets Global demand for seafood was raised in 2017 by strengthening economic fundamentals in both developed and developing markets, and the salmon industry has benefitted, despite higher prices for both farmed and wild. In particular, the EU28, the United States of America and Japan all increased their imports in 2017, while China, Viet Nam, Thailand, the Republic of Korea and the Philippines led the expansion in Asia. The economic recoveries in Brazil and in the Russian Federation are evident in their import statistics, each importing 12 percent more salmon imports in 2017 in US dollar terms. The combined capacity of these markets to absorb the exceptionally large quantities of farmed salmon produced in the second half of 2017 without a severe price crash is evidence of the continuing and increasing popularity of salmon in a geographically diverse range of countries. Salmon’s versatility and nutritional qualities allow marketers to align themselves with the broader consumer trends of health and convenience, and to ensure that salmon’s popularity grows together with cuisine styles such as poke and sushi that are becoming more widespread, particularly amongst the younger demographic.

France UK | Exports | Salmon Top three destinations Unit: 1 000 tonnes France China Total exports

126

119

112

105

2015

Source: Eurostat

United States of America Other countries

GLOBEFISH Highlights | April 2018

2016

2017

France is the largest single European market for salmon, with Norway and the United Kingdom its leading suppliers. In recent years, Norway has become a less important supplier, and these volumes have been replaced by Scottish salmon. Originsensitive French consumers increasingly prefer Scottish farmed Atlantic salmon, some of which bears the French Label Rouge quality mark. In 2017, surplus volumes late in the year and the resulting price decline brought some relief to processors that have suffered from high raw material costs. Reports from the industry indicate better than expected end-of-year smoked salmon sales and improved consumer confidence.

Germany

US imports of salmon

German consumers generally favour smoked salmon, which represented 37 percent of the total value of German salmon imports in 2017 in US dollar terms. However, a rise in imports of fresh whole Atlantic salmon from Norway reflects the growing popularity of fresh salmon products, helped by concentrated marketing efforts by discount retail chains and demand from sushi and poke food service establishments. High prices have affected sales volumes across all products in the German market, but total revenue continues to increase. Germany, along with multiple other EU28 markets, is expected to benefit from accelerating economic growth in 2018, and the outlook for salmon demand remains positive. Germany | Imports | Salmon Top three origins Unit: 1â&#x20AC;&#x2030;000 tonnes Norway Denmark Total imports

Poland Other countries

190

180

170

160

150

2015

2016

2017

1â&#x20AC;&#x2030;000 tonnes

2015

2016

2017

Chile

100.3

99.2

102.3

Canada

85.9

92.8

83.3

Norway

28.3

29.7

36.9

Other countries

31.7

31.9

38.1

Total

246.1

253.6

260.7

China

33.8

35.5

39.5

Chile

31.5

30.5

34.5

Fresh

Frozen

Norway

9.9

8.4

11.9

Other countries

7.3

10.0

9.4

Total

82.6

84.5

95.3

Thailand

4.8

4.2

4.8

Chile

1.9

1.6

2.5

China

2.4

1.9

1.7

Prepared

Source: Eurostat

January-December

United States of America Although revitalized economic growth resulted in higher salmon imports in many important markets in 2017, it is the United States of America where the effect of improving economic fundamentals on salmon demand has been particularly evident. Despite its growing popularity, there is still significant potential for higher consumption of salmon among the US population, estimated most recently at around 620 g per capita per year (source: USDA). Import volumes have continued to rise even as prices have soared and competition for supply has intensified globally. The total value of US salmon imports in 2017 was 16.5 percent higher than the previous year, and 38.1 percent higher than in 2015. Although Chile remains the top supplier, a number of other farmed salmon producers, including Norway and the United Kingdom, have been directing a higher proportion of their production to the booming US market. The development of a salmon aquaculture sector in the United States of America was set back in early 2018, however, after a bill was passed to ban Atlantic salmon farming in Washington state waters.

Other countries

5.5

6.3

6.2

Total

14.7

13.9

15.2

Source:TDM

Japan Although seafood demand is generally on a longterm declining trend in Japan, demand for salmon has remained relatively strong. Japan imports farmed coho salmon from Chile, farmed Atlantic salmon mainly from Norway and wild sockeye salmon from the Russian Federation and the United States of America. Prices rose for all these species in 2017, but Japanese import volumes were largely unaffected, indicating a firm underlying demand. In 2018, Japanese importers are being helped by a recovering yen and demand should remain Japan | Imports | Salmon Top three origins Unit: 1â&#x20AC;&#x2030;000 tonnes, January-December Chile Norway Total imports

Other countries

215

120

210

205

200

30 0

195 2015

2016

2017

190

Source: Ministry of Finance and the Customs

GLOBEFISH Highlights | April 2018

strong in a stable economic environment. However, competition for volumes is strong, and even the Japanese staple, farmed coho salmon from Chile, is now increasingly wanted by buyers in a number of other countries such as the Russian Federation and various East and Southeast Asian markets. Prices Salmon: France EUR/kg 8 6 4 2 0

Fresh, gutted, HO, 3-6 kg/pc, origin: Norway Source: GLOBEFISH European Price Report

Prices Trout: Italy EUR/kg 6

Trout: Salmos pp. 4 2

Rainbow Trout: Oncorhynchus mykiss

Ex-farm price from Norway Source: GLOBEFISH European Price Report

Outlook Previous forecasts for some 8 percent growth in global farmed Atlantic salmon production volume in 2018 now look to have been somewhat optimistic. Colder water temperatures and higher than anticipated losses are expected to negatively affect total harvests in European waters, while algal blooms in Chile may have the same effect. Meanwhile, a jump in wild salmon catches in the Russian Federation should be offset at the global level by a reduction in Alaskan catches in 2018. In the longer term, investment into new aquaculture sites, for example in Iceland and Eastern Canada, should not have a significant impact on total supply for some years to come, and alternative farming

GLOBEFISH Highlights | April 2018

systems such as closed-containment are not yet viable on a large scale. Given the trajectory and geographic extent of market expansion, aggregate demand should continue to be more than sufficient to absorb current volumes at profitable prices for producers, so long as relatively stable economic conditions persist in core markets, including in large emerging markets such as Brazil, the Russian Federation and China. However, ongoing efforts to address consumer concerns regarding the environmental impact of salmon farming will be necessary to ensure the continued popularity of salmon products, particularly amongst the younger demographic in developed markets.

SMALL PELAGICS Globefish highlights

Lower mackerel and herring prices Mackerel and herring prices declined in 2017, and no change seems to be in sight. A substantial increase in supplies of anchovies is expected, while herring and mackerel supplies are likely to decline slightly. Prices have been on a downward trend for some time and are not expected to improve much in the short term.

In February 2018, Iceland and the Faroe Islands agreed on Faroese fishing rights in Icelandic waters. The parties agreed on mutual access to blue whiting and Norwegian-Icelandic herring. Icelandic vessels may fish for bluefin tuna in Faroese waters, while the Faroese can catch 5 percent of the Icelandic capelin quota, limited to 25 000 tonnes. Brexit is in the back of everybody’s minds as the negotiation between the United Kingdom and the European Union (Member Organization) for fishing quotas is underway. The European Union wants the United Kingdom to respect the CFP until 2021. This gives European Union countries access to British waters between 12 and 200 nautical miles. However, the British have suggested to abandon the CFP when the country leaves the EU28, and negotiations have started to reach an agreement on this and other issues.

Mackerel In January 2018, the Peruvian Ministry of Production established catch quotas for horse mackerel (Trachurus murphy) at 75 000 tonnes and mackerel (Scomber japonicus) at 110 000 tonnes. However, these quotas can be modified depending on biological and/or environmental factors.

In 2017, supplies of frozen mackerel to the European market increased slightly to about 150 000 tonnes. Shipments from Norway declined marginally, while arrivals from Iceland increased significantly. Supplies to the Asian markets increased even more, with Norway clearly in the lead as the main provider accounting for more than 80 percent of supplies to these markets. The two largest importers of mackerel in Asia were China and Japan and both increased the import volumes in 2017, to 87 800 tonnes and 70 600 tonnes, respectively. In 2018, landings of Atlantic mackerel are expected to decline a bit. Norway, which is a major producer, is expected to land about 277 000 tonnes, substantially lower than the 348 000 tonnes in 2017. The mackerel inventory declined from last year, and one would therefore expect prices to go up. First-hand prices did indeed go up a little in the first weeks of 2018.

RECENT NEWS Climate change and global warming is benefitting the Greenland fisheries industry, at least in the short term. Species that thrive in warmer waters than those around the coasts of Greenland, like mackerel and bluefin tuna, are finding their way north and being caught by Greenland vessels. Significantly increased landings helped the economy to grow by 4.6 percent in 2016.

African imports of mackerel declined significantly in 2017. Both of the main suppliers, the EU28 and Norway, suffered declined volumes, while Iceland increased shipments of mackerel to Africa. An active buyer in the mackerel market was the Russian Federation. Imports to the Russian Federation increased for the second year in a row, and again, the Faroe Islands was the leading supplier, accounting for about two thirds of the total. Other western countries such as Norway and the EU28 cannot export to the Russian Federation because of the import ban for these countries. Greenland and China were also active suppliers to the Russian Federation, but with smaller quantities than the Faroe Islands.

GLOBEFISH Highlights | April 2018

shoals. The average size of the herring landed was 348 g, with fat content within the market demands. Demand for single fillets without skin was good in Germany, and this product typically requires about 12 percent fat.

Export prices Mackerel: Norway NOK/kg 50 40

Herring prices declined in 2017. EU28 market prices in EUR were down by about 18-19 percent. The price drop was more pronounced for Norwegian exporters with export prices in NOK down by over 26 percent. The NSC blames the price decline on larger quotas and increased volumes on the market, on increased competition, and on the fact that Norway and most western countries are being blocked from selling to the most important market, the Russian Federation.

fresh whole

20 10

frozen whole

Source: Norwegian Seafood Council

Export prices Frozen herring: Norway

China | Exports | Mackerel Top three destinations Unit: 1 000 tonnes, January-December Indonesia Thailand Total exports

NOK/kg

Philippines Other countries

250

500

200

400

150

300

100

200

100

2015

2016

Source: China Customs

2017

Herring Atlantic herring quotas are set to be somewhat reduced in 2018 compared to 2017, based on the recommendations by the ICES. Landings are expected to come down a bit. Norway is expected to land about 484 000 tonnes of Atlantic herring, down from about 560 000 tonnes in 2017. The outlook for Alaska herring seems brighter in 2018 than last year. The Togiak, the main fishing area for herring in Alaska, TAC for 2018 has been increased by 49 percent to 24 042 tonnes. Purse seiners get 70 percent of this, while gillnetters get the remaining 30 percent. The fleet only caught 95 percent of the quota in 2017, landing 16 000 tonnes of herring. The Norwegian pelagic fishery started slowly in January 2018. Vessels reported a lot of herring, but it was swimming deep and therefore difficult to catch with purse seines. Fishing improved in February 2018 as good weather made it easier to access the herring

GLOBEFISH Highlights | April 2018

Frozen fillets

Whole frozen

5 0

Source: Norwegian Seafood Council

Germany | Imports | Herring Top three origins Unit: 1 000 tonnes, January-December Denmark Netherlands Total imports

Poland Other countries

120

114

108

102

2015

Source: Eurostat

2016

2017

Trade

Russian Federation | Exports | Herring Top three destinations Unit: 1 000 tonnes, January-December China Nigeria Total exports

Republic of Korea Other countries

250

200

150

100

Norwegian exports of mackerel increased by 9.4 percent in 2017, to 338 000 tonnes. Most of this increase was accounted for by higher exports to China, Turkey, Viet Nam, Taiwan Province of China and the United Kingdom. Norway’s market share in some of the major importing countries rose or remained quite high, with 21.2 percent in China, 18.5 percent in Japan, and 11.2 percent in the Republic of Korea. Norwegian mackerel exports to China went up by an impressive 38.9 percent (71 500 tonnes), while exports to Japan fell slightly to 62 400 tonnes (-3.1 percent) and to the Republic of Korea fell to 38 000 tonnes (-2.1 percent).

Anchovy/Sardines/Capelin

China also exported more mackerel to the world in 2017 than in 2016. Total mackerel exports (including jack mackerel and horse mackerel) increased from 344 000 tonnes to 407 000 tonnes (+18.3 percent). The largest markets were Indonesia with 83 000 tonnes, the Philippines with 76 000 tonnes, and Thailand with 36 000 tonnes.

The current La Niña, which has impacted the waters of South America since October 2017, is not expected to have a negative effect on the Chilean pelagic fishery. The climatic phenomenon is expected to last until April 2018 and has been characterized as a rather weak event.

Norwegian herring exports also increased significantly, from 165 500 tonnes in 2016 to 225 200 tonnes in 2017 (+36 percent). Main markets included Denmark (36 500 tonnes, 16.2 percent of total), Egypt (32 400 tonnes, 14.4 percent of total) and Ukraine (31 300 tonnes, 13.9 percent of total).

In early February 2018, the Ministry of Production in Peru reported that 46 percent of the anchovy quota had been landed during the second fishing season of 2017, which ran from 23 November 2017 to 26 January 2018. Expectations for the 2018 fishery are that anchovy landings will be significantly increased. Kontali Analyse estimates an increase of up to 1.8 million tonnes in Peru alone. Most of this catch goes for fishmeal production.

German imports of herring declined by 10.5 percent in 2017 compared to 2016. Total imports amounted to 102 000 tonnes. The main suppliers were Denmark (50 000 tonnes), Poland (34 000 tonnes) and the Netherlands (4 000 tonnes).

2015

2016

2017

Source: Federal Customs Service of Russia

It is expected that there will be a small increase in horse mackerel because of the more extensive presence of cold water in the coastal zone of southern-central Chile. Mackerel fishing is expected to be favourable until July/August, with a good chance of filling the quota. Iceland registered a 10 percent increase in fish landings in 2017. Landings were particularly strong for capelin and blue whiting. Capelin catches increased by 95 percent compared to 2016, to 196 900 tonnes, while blue whiting catches increased by 22 percent to 228 900 tonnes. Capelin quotas are expected to be cut for 2018, from 299 000 tonnes previously proposed to 208 000 tonnes. At the end of March 2018, it was reported that the Norwegian capelin quota of 421 000 tonnes was almost filled, except for about 3 000 tonnes. The capelin fishery came to an early close in 2018. Most of this catch goes to reduction purposes (fishmeal and fish oil), but about 17 000 tonnes goes to human consumption, mostly used for roe production. In 2018, total capelin landings are expected to increase by some 200 000 tonnes.

Exports of herring from the Russian Federation almost doubled in 2017 compared to 2016, from 102 000 tonnes in 2016 to 203 000 tonnes in 2017. Almost all of this increase was accounted for by a massive increase in shipments to China, up from 77 000 tonnes in 2016 to 162 000 tonnes in 2017. Exports to the Republic of Korea and Nigeria were also increased, but the volumes were much smaller, 18 000 tonnes and 8 000 tonnes, respectively. Norwegian exports of small pelagics January-December 1 000 tonnes

2015

2016

2017

Mackerel China

51.9

51.5

71.5

Japan

62.8

64.4

62.4

Republic of Korea

27.7

38.8

38.0

Other countries

217.1

154.1

165.9

Total

359.5

308.7

337.8

Denmark

26.0

21.5

36.5

Egypt

12.5

12.1

32.4

Ukraine

25.2

34.1

31.3

Herring

Other countries

97.1

97.8

125.0

Total

160.8

165.5

225.2

Source: TDM

GLOBEFISH Highlights | April 2018

Outlook It is expected that there will be a decline in landings of Atlantic herring but a significant increase in landings of South American anchovy. There will be an overall decline in landings for human consumption. Prices are expected to continue to weaken for herring and mackerel in the beginning of the year but may recover in the second half of 2018. Norway will continue to dominate the Asian market for mackerel. Larger volumes are expected to go for reduction purposes. The Russian Federation embargo on supplies from the western countries will continue.

ÂŠFotolia - Shulevsky Vladimir GLOBEFISH Highlights | April 2018

FISH MEAL & FISH OIL Globefish highlights

By the end of the second fishing season of 2017, only 46 percent of the anchovy quota in Peru was fulfilled This was below market expectation and drove the prices up. In 2018, the market is reasonably optimistic on the first fishing season in Peru, on preserved biomass and on favourable fishing conditions.

Top global producers of fishmeal Unit: 1 000 tonnes Peru Thailand/Viet Nam

China Other countries

3 000

4 800

2 500

4 700

2 000

4 600

1 500

4 500

1 000

4 400

500

4 300

2014

2015

2016

4 200

Source: IFFO, Oil world

Top global producers of fish oil Unit: 1 000 tonnes Peru Denmark/Norway

United States of America Other countries

Production

700

960

600

The first anchovy fishing season of 2017 in Peru, which started in April, reached 85 percent of the total allowable quota, with catch totalling 2.4 million tonnes. This outcome was interpreted as a positive indication of the end of the El Niño and of a recovered anchovy biomass in Peru. The quota for the second fishing season of 2017 in the centrenorth area was set at 1.49 million tonnes. Exploratory fishing started on November 2017, but due to the high presence of juveniles, the second anchovy season was not resumed until January 2018. Merely 687 600 tonnes of anchovy were landed until the end of the second season (26–28 January 2018) equivalent to 46 percent of the assigned quota. In total, the Peruvian government reported 735 000 tonnes of fishmeal output in 2017, 16.2 percent more than in 2016.

500

940

Nordic countries also registered higher production due to an abundant supply of small pelagics. Sand eel harvest in Denmark and Norway, capelin from Iceland and herring from Norway, jointly raised the market supply. Overall, Nordic countries reported a combined production of approximately 600 000 tonnes of fishmeal in 2017 (+30 percent over 2016) and 150 000 tonnes of fish oil (+18 percent)

920

400

900

300

880

200

860

100 0

2014

2015

2016

840

Source: IFFO, Oil world

Exports The successful first fishing season translated into a 51 percent growth in Peruvian exports in 2017, compared to 2016. Peru exported a total of 977 000 tonnes of fishmeal in 2017, representing more than 35 percent of the aggregated world exports. Nearly 80 percent of the Peruvian exports were destined for China. Viet Nam and Japan absorbed 5 and 4 percent, respectively. Denmark, Chile, the United States of America, Morocco and Iceland exported more than 100 000 tonnes of fishmeal in 2017, above the export volumes of 2016.

GLOBEFISH Highlights | April 2018

Fish oil exports from Peru reached 165 000 tonnes, 73 percent more than in 2016, and surpassed Danish exports. Denmark exported 147 000 tonnes of fish oil, mostly to Norway and the United Kingdom.

Denmark | Exports | Fish oil Top three destinations Unit: 1 000 tonnes, January-December Norway Netherlands Total imports

Markets Since the stricter environmental protection regulations and standards have been in effect, farmers feeding ponds with raw forage fishes and domestic reduction plants of fishmeal and fish oil have had to come up with new operative solutions to handle the inspections. The increased regulatory awareness has stimulated the Chinese market to press for a shift in the feeding structure. More companies and farmers resort to compound feed to provide sufficient protein rather than to raw forage fish to feed carnivorous species. Many producing plants moved to trade business instead of producing fishmeal and fish oil locally. Some small-scale producers shutdown because they were below the environmental standards. Production consolidation has been happening in China to improve their ability to meet the inspection requirements. In addition, the fishing moratorium that traditionally goes from June to September was extended by one month to sustain the fish biomass in the ocean in China. This extension affected the supply of raw materials intended for fishmeal and fish oil reduction. All these factors contributed to the highest Chinese imports so far, a total of 1.582 million tonnes in 2017, 56 percent of which were shipped from Peru. Norwegian imports of fishmeal and fish oil increased in 2017 (+10 percent). More than half of the provision of fishmeal was supplied by Iceland. Denmark and the Faroe Islands added an additional 40 percent of the total Norwegian fishmeal imports.

200

120 100

150

100

60 40

20 0

2015

Source: Eurostat

2016

2017

China Japan Total exports

Viet Nam Other countries

1 200

1 000 800

800

600 400

400

200 2015

2016

2017

Price

Source: Produce

Fishmeal price has been trending upward since the first half of 2017, due to increasing global demand, in particular demand from China, seeking to substitute the market scarcity caused by local production shortages. When the second fishing season in Peru was announced to be suspended in November 2017, fishmeal and fish oil prices rose steeply. Peruvian super prime fishmeal traded in Shanghai, China at more than USD 2 000 per tonne in early 2018, while the price was around USD 1 600 per tonne in the middle of 2017.

Peru | Exports | Fish oil Top three destinations Unit: 1 000 tonnes, January-December

With the optimistic prospects for the first anchovy fishing season in Peru starting in April 2018, the fishmeal and fish oil prices are levelling off. Further corrections will materialize upon the announcement of the volume of the assigned quota for this season and the weather situation by then.

Denmark Canada Total exports

China Other countries

200

100 80

150

100

20 0

2015

Source: Produce

GLOBEFISH Highlights | April 2018

Peru | Exports | Fishmeal Top three destinaions Unit: 1 000 tonnes, January-December

United Kingdom Other countries

2016

2017

Norway | Imports | Fishmeal Top three origins Unit: 1 000 tonnes, January-December Iceland Faroe Islands Total imports

Prices fish oil and rape oil: Europe USD/tonne

Denmark Other countries

3 200

120

200

190

180

170

2015

2016

2017

Fish oil

2 400 1 600 800

Fish meal

160

Source: Norway Bureau of Statistics

Source: Oil World

Norway | Imports | Fish oil Top three origins Unit: 1 000 tonnes, January-December

Prices Fish oil and fish meal: Europe

Peru Iceland Total imports

USD/tonne

Denmark Other countries

3 200

200

1 600

190 30

Fish oil

2 400

800

Fish meal

2015

2016

2017

180

Source: Oil World

Source: Norway Bureau of Statistics

Outlook China | Imports | Fishmeal Top three origins Unit: 1 000 tonnes, January-December Peru

Viet Nam

United States of America

Other countries

Total exports

1 000

2 000

800

1 600

600

1 200

400

800

200

400

2015

2016

Source: China Customs

2017

The postponement of the Peruvian fishing season in 2017 due to the high presence of juveniles provided the anchovy schools adequate time to grow in recent months and thus to build up a healthy adult biomass in Peruvian waters. Peru, as the driver of global fishmeal and fish oil output, is thus likely to see an encouraging first anchovy fishing season in 2018. Current level-off price is also expected to undergo further correction from its seasonal peak.

GLOBEFISH Highlights | April 2018

LOBSTER Globefish highlights

Tighter supplies and higher prices The New England lobster harvest decreased in 2017 and could decline further. Production of lobster in warmer areas may be improving, but the overall picture in 2018 will be one of tighter supplies and higher prices. Strong demand in China seems to be the main driver in the market.

Supplies The lobster harvest in Maine for 2017 declined by 16 percent by volume compared to 2016. The average price per pound dropped from USD 4.08 per lb in 2016 to USD 3.91 per lb in 2017. The first-hand value of the lobster catch in Maine dropped by 20 percent from USD 540 million in 2016 to USD 434 million in 2017. Maine accounts for about 83 percent of the total US lobster catch.

61+22+107

Lobster production (2016) Others 7%

Tropical lobsters nei 10%

Caribbean spiny lobster 22%

Source: FAO

GLOBEFISH Highlights | April 2018

American lobster 61%

A recent study by the Gulf of Maine Research Institute (GMRI) predicts that warming ocean temperatures will lead to a drop in the lobster population in Maine by 40—62 percent by the year 2030. The Maine Department of Marine Resources has little faith in the GMRI prediction, stating that this wild resource is difficult to predict. New Zealand has set the rock lobster quota for the 2018/2019 season at 1 585 tonnes, a 1 percent decline from the 2017/2018 quota. The New Zealand rock lobster (Jasus edwardsii), also known as southern rock lobster or spiny red rock lobster, is New Zealand’s most valuable seafood export commodity. In 2017, New Zealand exported rock lobster worth NZD 266 million (USD 189 million), which nevertheless represented a decline of 16 percent compared to 2016. Mexico reported that lobster catches in the northern Pacific zone of Baja California are excellent. It is estimated that the fishery will yield more than 2 200 tonnes by the end of the season in 2018, compared to the 1 200 tonnes that have been the norm in recent years. The catch consists mostly of red lobster (Panulirus interruptus) and is mostly exported to Asian markets. World imports/exports of lobster January - December

2015

2016

2017

(1 000 tonnes) Imports United States of America

65.7

61.3

58.9

China

18.1

22.0

27.5

Canada

31.5

32.7

25.4

Other countries

58.0

59.6

65.9

Total

173.2

175.6

177.6

Canada

83.3

83.9

84.9

United States of America

56.7

58.6

50.5

Exports

United Kingdom

4.1

5.2

10.0

Other countries

44.9

46.9

49.3

Total

189.0

194.5

194.6

Source: TDM

US imports/exports of lobster January - December

2015

2016

2017

(1 000 tonnes)

EU28 | Imports | Lobster Top three origins Unit: 1 000 tonnes, January-December Canada Nicaragua Total imports

Imports Canada

56.6

53.2

50.8

Bahamas

1.5

1.2

1.8

Honduras

1.6

1.4

1.3

Other countries

5.9

5.5

5.0

Total

65.6

61.3

58.9

Canada

31.1

32.3

25.1

China

6.0

6.4

8.2

Italy

3.4

3.7

3.4

Other countries

16.2

13.8

Total

56.7

58.6

50.5

United States of America Other countries

12 9

Exports

Source: TDM

2015

Source: Eurostat

2016

2017

International trade Global lobster imports appear to have declined in 2017 compared to 2016, when total imports amounted to 175 600 tonnes. The largest importers were the United States of America with 58 900 tonnes (-3.9 percent), followed by China with 27 500 tonnes (+24.5 percent), and Canada with 25 400 tonnes (-22.2 percent). There was a notable increase in French imports, which increased from 8 200 tonnes in 2016 to 11 000 tonnes in 2017 (+34.4 percent). China imported 27 500 tonnes of lobsters in 2017, up from 22 000 tonnes in 2016 (+24.5 percent). The largest suppliers were Canada (10 100 tonnes, +34.8 percent), the United States of America (8 000 tonnes, -0.6 percent), New Zealand (2 600 tonnes, -4.7 percent) and Australia (2 300 tonnes, +382 percent). US lobster exports to the EU28 have been declining for some time, and the decline increased after Canada and the EU28 implemented a bilateral trade agreement in September 2017. However, the decline in US exports to the EU28 has been compensated by increased exports to Asia. In 2017, the United States of America exported 8 100 tonnes of lobster to the EU28, down from 10 400 tonnes in 2016 (-22 percent). US exports to Asia (including some Middle East countries like Saudi Arabia and Israel) increased from 15 700 tonnes in 2016 to 17 600 tonnes in 2017 (+12 percent). China (including Hong Kong SAR and Macao SAR) accounted for almost two thirds of this with 11 900 tonnes. Australia is also benefiting from strong demand for lobster in China. Most of the Australian rock lobster is exported to China, and the quality is high. US imports came mainly from Canada, which accounted for no less than 50 800 tonnes, 86.3 percent of the total. Other suppliers to the

China | Imports | Lobster Top three origins Unit: 1 000 tonnes, January-December Canada New Zealand Total imports

United States of America Other countries

2015

Source: Eurostat

2016

2017

Canada | Exports | Lobster Top three destinations Unit: 1 000 tonnes, January-December United States of America Republic of Korea Total exports

China Other countries

Source:

2015

2016

2017

GLOBEFISH Highlights | April 2018

Prices Lobster tails: USA USD/lb 28 21 14 7 0

EXW prices of frozen lobster tails (8-10 oz/pc), origin: Brazil

Source: INFOFISH Trade News

Wholesale prices American lobster: USA USD/lb 16 12 8 4 0

1-1.5 lb live, NY wholesale price Source: INFOFISH Trade News

Prices European lobster: Europe EUR/kg 40 30 20 10 0

Live, origin: Ireland; 400–600, 600–800 g/pc Source: GLOBEFISH European Price Report

GLOBEFISH Highlights | April 2018

United States of America included the Bahamas (1 800 tonnes) and Honduras (1 300 tonnes).

Prices Lobster is often associated with romantic dinners, and naturally, Valentine’s Day is a popular lobster season. However, in the United States of America, the Valentine’s Day lobster dinner came very much more expensive this year. At the consumer level, prices were up by almost 50 percent compared to two years ago, as the market prices reached USD 23.5 per lb. Dealers report that demand during such holidays as Valentine’s Day and Chinese New Year is very strong, and consequently prices go up during these periods.

Outlook If predictions about the Maine lobster fishery are correct, total supplies of lobsters will decline in 2018. Tighter supplies and a strong demand in the most important markets will surely push prices upwards. China seems to have a strongly growing desire for lobster, particularly for the North American lobster, though demand for Australian rock lobsters is also very strong. Price increases across the board can be expected.

BIVALVES Globefish highlights

Bivalves market very positive Demand for bivalves is growing worldwide. All major consuming countries reported high requests for bivalve products. Production is increasing, but it is generally not enough to completely meet the world demand, leading to growing prices in all major markets.

as hatchery-bred mussel spat. Mussel aquaculture growth is set to boost New Zealand seafood exports in 2018. The outlook for mussel production is positive also in all other mussel culturing countries, but demand is likely to exceed production growth, and prices are forecast to increase even further in the coming months.

Bivalve production by selected species, both wild and farmed (2016)

54+18+244 Clams 4%

Scallops 24%

Mussel industry bound to grow The Chilean mussel industry reported a record year in 2017, with production exceeding 300 000 tonnes, after low production in 2016. Contrary to all the other major producing countries, all this production goes to exports, making Chile the world’s major exporter of mussels. In 2017, exports reached 70 000 tonnes meat weight, an 18 percent increase over 2016. Spain is the main market for Chilean mussels, importing 15 000 tonnes in 2017, a 25 percent growth from 2016. These mussels are mainly used in the canning industry, and compete there heavily with the domestic mussels produced in the Galician fjords. Other major importing countries of Chilean mussels are the United States of America, France, and Italy. These three countries reported stable imports of Chilean mussels in 2017. However, the Russian Federation is becoming an important outlet for Chilean mussels, importing some 9 000 tonnes in 2017, a 51 percent increase from 2016. Similar to Chile, New Zealand is producing mainly for the export market. In recent years, after a boom in the 1990s, these exports have been stable at USD 180 million. Main importing countries are the United States of America, China and Thailand. This stagnant situation is about to change this year, as the mussel industry in New Zealand is about to change significantly, using new technologies, such

Oyster 54%

Mussels 18%

Source: FAO

EU28 | Imports |Mussels Top three origins Unit: 1 000 tonnes, January-December Chile Norway Total imports

New Zealand Other countries

2015

Source: Eurostat

2016

2017

GLOBEFISH Highlights | April 2018

World imports/exports of mussels January - December

2015

2016

2017

(1 000 tonnes)

Chile | Exports |Mussels Top three destinations Unit: 1 000 tonnes, January-December Spain France Total exports

Imports

United States of America Other countries

France

56.7

59.4

60.9

Italy

52.3

45.0

50.9

70 65

Netherlands

21.6

34.0

42.6

Other countries

196.0

166.3

177.2

Total

326.7

304.7

331.5

Chile

69.7

67.4

79.3

Netherlands

60.9

61.1

69.1

Spain

58.7

50.7

59.0

Other countries

139.8

162.7

167.0

Total

329.1

341.8

374.4

Exports

Source: TDM

2016

2017

Source: Chile National Customs Office

Prices Mussels: France

Spain | Imports | Mussels Top three origins Unit: 1 000 tonnes, January-December Chile Greece Total imports

2015

EUR/kg 6

Italy Other countries

Monthly average consumet prices in metropolitan France 2015

2016

Source: Agencia Tributaria

2017

Source: European Price Report

Price of oysters sky-high and likely to grow further

France | Imports | Mussels Top three origins Unit: 1 000 tonne, January-December Spain Chile Total imports

2015

Source: Eurostat

Netherlands Other countries

GLOBEFISH Highlights | April 2018

2016

2017

Oysters are an upper end product, with consumers willing to pay high prices. Overall world trade of this commodity is rather limited at 70 000 tonnes. France is the main exporting country of oysters, though being only number five among the producing countries. In 2017, the country exported 12 000 tonnes, 20 percent more than in 2016. France is also a major importer of oysters, with 8 000 tonnes in 2017. Demand for oysters is growing in the United States of America, the world’s major importing country with 12 000 tonnes last year. In addition to imports, the country is also trying to boost domestic production. Maine oyster is a new industry that has been growing rapidly, with massive expansion. However, demand is still higher than what the supply is able to meet, so prices continue to grow, oyster is sold by the number rather than by the dozen or in bags as on the US West Coast, which indicates that

oysters are considered a top seafood item in New York and other East Coast cities. With the economic growth forecasted for 2018, further increase in demand for oysters is likely to materialize, especially during the holiday months. World imports/exports of oysters

the Republic of Korea are the main clam exporting countries, followed by Canada. In Canada, the 30year monopoly of Clearwater Seafoods over the Artic surf clam has allowed the company to harvest up to 38 000 tonnes of clams. In 2018, there will be an allocation of 8 700 tonnes to a First Nationsowned company. The impact of this decision for the world clam market is still to be seen.

January - December

2015

2016

World imports/exports of scallops

2017

January - December

(1 000 tonnes)

2015

Imports United States of America

11.8

12.0

12.1

France

6.4

7.4

8.0

China, Hong Kong SAR

6.1

6.6

7.2

Other countries

39.4

41.1

40.0

Total

63.7

67.1

67.3

Exports France

10.6

10.8

12.6

China

9.3

9.9

9.6

Republic of Korea

12.7

8.0

9.1

Other countries

21.4

27.8

39.1

Total

53.9

56.4

70.3

Source: TDM

China imports less scallops World imports of scallops declined sharply in 2017, as China, the main world’s importer of this species, reported a 24 percent drop in their imports. China still represents about one quarter of the world’s imports of scallops. The decline in Chinese demand for foreign scallops was caused by an increase in domestic production. The United States of America reported an 18 percent decline in scallop imports. France was the only importing country reporting higher demand for external scallops. Scallops are the fourth largest seafood import into France, after shrimp, tuna and salmon. In 2017 French imports of scallops from Argentina boomed to 3 000 tonnes, while Peru which used to be the main exporter lost ground, due to a failure in the Peruvian scallop production in 2016 –early 2017. The Peruvian scallop industry is likely to recover ground in 2018.

2016

2017

(1 000 tonnes) Imports China

56.4

47.1

35.7

United States of America

22.4

23.2

18.8

France

17.0

13.2

14.3

Other countries

78.4

80.7

69.9

Total

174.2

164.2

138.7

China

35.2

34.6

30.7

United States of America

10.2

10.4

9.4

United Kingdom

11.4

12.2

8.0

Exports

Other countries

50.3

51.5

50.0

Total

107.0

108.7

98.1

Source: TDM

EU28 | Imports |Scallops Top three origins Unit: 1 000 tonnes, January-December United States of America Peru Total imports

Other countries

2015

Source: Eurostat

2016

2017

Clams Overall world imports of clam are increasing, though the two main clam importing countries, Japan and the Republic of Korea, reported stable imports in 2017. Total world imports reached 280 000 tonnes last year, a 6 percent growth over 2016. This increase in imports was mainly due to import rises in southern European countries such as Spain and Italy. Both countries have important aquaculture and capture clam fisheries, but in recent years this production was not enough to meet demand. Spanish imports of clams reached 38 700 tonnes in 2017, a 14 percent increase over 2016. China and

GLOBEFISH Highlights | April 2018

France | Imports | Scallops Top three origins Unit: 1 000 tonne, January-December United states of America Total imports

United Kingdom Other countries

2015

Source: Eurostat

2016

2017

World imports/exports of clams, cockles, arkshells January - December

2015

2016

2017

(1 000 tonnes) Imports Japan

74.8

80.4

80.6

Republic of Korea

70.4

63.6

63.7

Spain

31.7

33.8

38.7

Other countries

79.1

85.1

97.8

Total

256.1

262.9

280.9

China

157.2

156.0

164.2

Republic of Korea

11.8

16.0

16.3

Canada

9.4

11.0

13.3

Other countries

65.8

66.2

74.2

Total

244.2

249.2

268.0

Exports

Source: TDM

Outlook continues strong

©FAO/Marco Salustro

Further increase in demand for bivalves is expected for the holiday period in North America and in Europe. There seems to be no limit to the price expectations by traders. Bivalves are also increasingly being used in the preparation of ready meals, being one of the most versatile products for diversification of product presentation.

©Fotolia - naturalbox GLOBEFISH Highlights | April 2018

CRAB Globefish highlights

Higher prices for king crab and snow crab The quotas for snow crab are lower for 2018, and consequently landings will go down. Demand is good, and prices will therefore go up. Illegal fishing in the Russian Federation appears to be declining, but the increased quotas there will probably have little or no effect on prices.

Supplies The global supply of snow crab is expected to be around 104 000 metric tonnes in 2018. This is a reduction of about 10 percent from 2017, and a 76 percent reduction from 2015, when the amount landed was 150 000 tonnes. TACs in Canada are expected to be dramatically reduced. It is expected that TAC in Nova Scotia will

29+18+12932

Crab production (2016)

Chinese mitten crab 29%

Others 32%

Blue swimming crab 9%

Source: FAO

Gazami crab 18%

Marine crabs nei 12%

be reduced by 47 percent, while in Newfoundland and Labrador a 20 percent reduction is expected. The Ministry of Agriculture of the Russian Federation is considering changing the quota allocation system to an auction system. Industry representatives fear that this will increase illegal crab fishing and ultimately jeopardize the fishery’s MSC certification. The Russian Federation is committed to capture a larger share of the US market for king crab and one way to achieve that would be to ensure MSC certification for their crab fisheries. The Russian Federation increased quota for king crab (from 21 000 to 26 000 tonnes) should have an effect on prices, but it is not known what this effect will be. Some observers believe that the effect will be negligible, claiming that the illegal crab that was already on the market will now just become legal and the total amount available may not be increasing as much as it would appear from the quota numbers. In the beginning of 2018, dungeness crabbers on the US coast of Washington faced difficulties again. While domoic acid concerns delayed the season in 2017, this year the weather caused the postponement and the season only began on 15 January. Further south, in California, the authorities have extended the rock crab fishery by opening areas that were previously closed due to high domoic acid levels. The fishery was closed since 8 November but was opened in mid-January. The California crab fishery was closed in June 2016 due to an outbreak of algal blooming which caused the occurrence of domoic acid in the crabs. Some areas were later opened, but there have been several such occurrences since.

Top three importers of crab Unit: 1 000 tonnes United States of America Republic of Korea Total imports

China Other countries

200

408

160

396

120

384

372

360

2015

2016

2017

348

Source: TDM

GLOBEFISH Highlights | April 2018

USA | Imports | Crab Top three origins Unit: 1 000 tonnes, January-December Canada Indonesia Total imports

Other countries

110

50 40

30 20

109

International trade

108

The global trade of crab increased by about 3.0–3.5 percent in 2017 compared to 2016. Imports to the United States of America, China, and the Republic of Korea, were relatively stable, while Japanese imports declined by 16.8 percent.

107

10 2015

2016

Source: U.S Census Bureau

106

2017

US imports of crab increased marginally by 1.7 percent to 109 400 tonnes in 2017. The main suppliers to the United States of America were Canada (40.7 percent), the Russian Federation (17.7 percent) and Indonesia (11.7 percent).

China | Exports | Crab Top three destinations Unit: 1 000 tonnes, January-December Republic of Korea Unitd States of America Total exports

Taiwan Province of China Other countries

2015

2016

Source: China Customs

2017

Russian Federation | Exports | Crab Top three destinations Unit: 1 000 tonnes, January-December Rupublic of Korea China Total exports

Netherlands Other countries

Chinese crab exports were stable in 2017, only 0.6 percent above 2016 shipments. Total exports amounted to 75 000 tonnes. The main markets were the Republic of Korea (31 percent of the total), Taiwan Province of China (19 percent) and the United States of America (14 percent). The Russian Federation increased its crab exports to 63 700 tonnes in 2017, 22.3 percent more than in 2016. Main markets were the Republic of Korea (65.7 percent of the total), the Netherlands (19.4 percent) and China (9.6 percent). European crab imports declined somewhat in 2017 compared to 2016. In the largest European importing country (France), imports declined by over 10 percent.

Prices Crab: USA, Japan USD/lb 25 20

2015

2016

2017

Source: Federal Customs Service of Russia

In the Arctic, the EU28 and Norway are fighting for control over the crab resource. Norway claims that only Norwegian vessels can harvest the snow crab resource in the Svalbard Fisheries Protection Zone, while the EU28 insist that all signatories to the 1920 Svalbard Treaty have a right to exploit this resource. The matter may end up in the international court in The Hague.

GLOBEFISH Highlights | April 2018

9–12 oz/pc

15 10

14–17 oz/pc

Claw and sections, red, EXW New York Source: INFOFISH Trade News

Prices The US market for king crab has been stagnant recently. The price difference between red king crab (Paralithodes camtschaticus) and the Russian Federation golden king crab (Lithodes aequispinus) has increased. The price difference was approximately USD 0.50 per lb, but in January 2018, the gap widened to almost USD 3.00 per lb. As golden king crab has been less expensive, demand for this species has increased on the US market. In contrast, the expected tighter supplies of snow crab in 2018 are likely to stimulate snow crab prices to continue to rise through the year.

Outlook Snow crab quotas were reduced for 2018, except in the Russian Federation. However, the total estimated supplies will probably fall by 10 percent and this will have an effect on prices. King crab prices are also expected to rise. Total imports are likely to stagnate because of availability, but demand is growing in major markets like China and to some extent the United States of America. Some product may also be imported to China through South East Asian countries like Thailand and Taiwan Province of China.

©FAO/Silvio Alejandro 2018 GLOBEFISH Highlights | April

Catalano

FOOD SAFETY ISSUES Globefish highlights Detentions and Rejections of shrimp and prawns in Canada, the European Union (Member Organization), Japan and the United States of America ©FAO/T. Rahimzadeh

According to FAO, the main importing countries of shrimp by value and volume in 2015 were the United States of America, Japan and Spain. The major producing countries were China, Indonesia and India. In this analysis we describe the border rejections of shrimp in the four United Nations members where data is available, i.e. Canada, the European Union (Member Organization), Japan and the United States of America. Rejections are categorized by chemical, microbiological and other risk categories. In addition, general causes such as packaging issues, allergens, improper health certificate, poor temperature control, labelling issues, will be described.

Canada Shrimp detentions and rejections in Canada amounted to 129 in 2017, representing 10 percent of the total rejections of fish and fishery products at the border.

Shrimp rejected at Canadian borders in 2017 by causes (number of cases)

Others

The main causes of rejections and detentions of shrimp in the Canadian market in 2017 were labelling issues accounting for 70 percent of shrimp rejections, followed by chemical causes. Other rejections were due to the lack of net weight determination, inappropriate water activity and food information regulation requirements. Under the chemical category the main rejections were due to the presence of non-permitted additives, followed by nitrofuran, tetracyclines and other residues of veterinary drugs.

Chemical

113

Source: Canadian Food Inspection Agency

Shrimp rejected at the Canadian borders in 2017 by hazards Labelling Non permitted additives Food information regulation requirements Tetracyclines Fluoroquinolones

number cases

GLOBEFISH Highlights | January 2018

Net weight determination Water activity Nitrofurans Sensory evaluation Container integrity

European Union Shrimp detentions and rejections in the EU28 totalled 47 in 2017, representing 13 percent of the total rejections of fish and fishery products at the border.

Shrimp rejected at EU28 borders in 2017 by causes (number of cases)

The main reasons for shrimp border rejections in 2017 were chemical causes, followed by other causes, and microbiological causes. The main chemicals detected were residues from veterinary drugs, such as nitrofuran, sulphite and chloramphenicol. They were followed by cadmium above the maximum limit. Among other causes, the main problems were related to poor temperature control and allergens. The microbiological detentions were due to bacteria such as Salmonella, Vibrio cholerae and Vibrio parahaemolitycus with one case each.

Chemical

Others

Microbiological

Source: Rapid Alert System for Food and Feed

Shrimp rejected at the EU borders in 2017 by hazards Nitrofuran Allergens 14

Sulphite Salmonella 11

Cadmium Vibrio cholerae

Poor temperature control Vibrio parahaemolyticus

Chloramphenicol

10 5

number cases

Japan Shrimp detentions and rejections in Japan amounted to 35 in 2017, representing 24 percent of the total rejections of fish and fishery products at the border. The majority of rejections in the analysed shrimp were due to chemical hazards, followed by microbiological causes. The main chemical problem recorded was the presence of antimicrobials, such as furazolidone, enrofloxacine and sulfadiazine, in a total of 19 border rejections. Additives such as polysorbate 80 and SO2 were present in one case each. The main microbiological problems were due to Escherichia coli (six cases), Coliform (five cases) and live bacteria (three cases).

Shrimp rejected at the Japanese borders in 2017 by causes (number of cases)

Microbiological

Chemical

Source: Ministry of Health, Labour and Welfare

Shrimp rejected at the Japanese borders in 2017 by hazards Furazolidone 9

Enrofloxacine

Escherichia coli

Coliform

Live bacteria

Sulfadiazine

Polysorbate 80

SO2

8 6

5 3

number cases

GLOBEFISH Highlights | January 2018

United States of America Shrimp rejected at US borders in 2017 by causes (number of cases)

Shrimp detentions and rejections in US borders totalized 141 in 2017, representing 9 percent of the total rejections of fish and fishery products at the border.

Others

The majority of rejections were due to other causes, followed by chemical causes and microbiological causes. Within the category of other causes, the leading specific cause was “filthy” in 41 cases, followed by misbranding (five cases) and adulteration (three cases). “Filthy” represents 30 percent of shrimp detentions in US borders in 2017. Salmonella was the only microbiological hazard in 40 cases. The main chemical cause was residues of veterinary drugs, followed by chloramphenicol, unauthorized additives and nitrofurans.

Chemical

Microbiological

Source: Food and Drug Administration

Shrimp rejected at the US borders in 2017 by hazards Filthy

Salmonella 41

Vet drugs 40

Chloramphenicol

Additives

Misbranding

Nitrofuran

Adulteration

32 10

number cases

References: • For further information you can visit the following website: www.fao.org/in-action/globefish/fisheryinformation/border-rejections/en/ • Canadian Food Inspection Agency (CFIA) • Rapid Alert System for Food and Feed (RASFF) • Ministry of Health, Labour and Welfare • US Food and Drug Administration (FDA)

GLOBEFISH Highlights | January 2018

EVENTS Globefish highlights

2018 Global Fishery Forum and Seafood Expo After the first successful experience in 2017, the Global Fishery Forum and Seafood Expo will reopen in St. Petersburg, the Russian Federation’s port city on the Baltic Sea. ©EUROFISH

From 13 to 15 September 2018 the city of St. Petersburg will host the second edition of the Global Fishery Forum and Seafood Expo. The event aims to create a common platform where fisheries companies, traders, packaging manufactures, research centres, and retailers can discuss the status and the latest developments of the seafood industry and potential future progresses. During the first edition, more than 5 000 people visited the 161 stands of exhibiting companies, while 80 speakers, 19 foreign delegations and 1 600 participants from different countries worldwide attended the Forum. This year, the number of participating companies will be doubled, and there will be a special place for joint national stands of organizations from Norway, Denmark, China and other countries. Members of the FAO GLOBEFISH team will be participating in the Seafood Expo with a dedicated booth for the first time, intending to meet countries, organizations, traders, industries and all fisheries stakeholders and to share points of view on how to contribute together to a sustainable development for this important sector. The Forum will also provide an opportunity to discuss seafood trade as an essential element in national and global economies. Fish and fishery products are, in fact, among the most traded products in the world and 2017 has seen a significant increase to trade values worldwide.

THE EUROFISH BUSINESS PLATFORM AT THE GLOBAL FISHERY FORUM AND SEAFOOD EXPO IN ST. PETERSBURG The Global Fishery Forum and Seafood Expo will be held on 13–15 September 2018 at the ECC EXPOFORUM. The International Organisation for the Development of Fisheries and Aquaculture in Europe (EUROFISH) will participate at the event with a Business Platform, a concept created for the benefit of EUROFISH member countries. The Business Platform hosts associations and SMEs, helping them to participate at international trade shows, to exhibit and promote their products and services, to communicate with visitors and other exhibitors, and to hold meetings with existing and potential business partners. In St. Petersburg, the Business Platform will host a delegation of officials and traders from the Turkish fisheries and aquaculture sector, interested in exploring the seafood market of the Russian Federation and in introducing their products and services to Russian Federation processors, fish farmers and distributors. For more information, please visit www.eurofish.dk or contact Ms. Aleksandra Petersen at aleksandra.petersen@eurofish.dk

More information on the Global Fishery Forum and Seafood Expo can be found at rusfishexpo.com

GLOBEFISH Highlights | April 2018

FISH

AND

FISHERY Capture fisheries production 2015

2016

PRODUCTS Aquaculture fisheries production 2015

2016

STATISTICS¹

Exports 2015

2016 estim.

Million tonnes(live weight equivalent)

Imports 2017 estim.

2015

2016 estim.

2017 estim.

USD billion

ASIA2

50.7

50.2

67.9

71.5

51.8

54.5

57.7

41.6

43.7

48.1

China

18.7

18.5

47.4

49.5

22.2

22.6

23.1

13.4

14.0

15.9

of which China, Hong Kong SAR

0.1

0.0

0.8

0.7

3.6

3.8

3.6

& Taiwan Province of China

1.0

0.8

0.3

1.6

1.7

1.9

1.2

1.3

1.4

India

4.8

5.1

5.3

5.7

4.9

5.5

7.2

0.1

Indonesia

6.7

6.5

4.3

5.0

3.6

3.9

4.2

0.3

0.4

Japan

3.5

3.2

0.7

1.9

2.0

13.5

13.9

15.0

Korea, Rep. of

1.6

1.4

0.5

1.5

1.7

4.3

4.6

5.1

Philippines

2.2

2.0

0.8

0.7

0.9

0.4

0.5

Thailand

1.5

0.9

1.0

5.7

5.9

2.5

3.1

3.6

Viet Nam

2.8

3.4

3.6

6.8

7.3

7.5

1.3

1.4

AFRICA

8.8

Egypt

0.3

9.3 0.3

1.2

1.4

0.0

0.8

0.7

0.6

Morocco

1.4

0.0

2.0

2.1

2.2

0.2

Namibia

0.5

0.0

0.6

0.7

0.0

0.1

0.0

Nigeria

0.7

0.3

0.1

1.2

1.3

1.4

Senegal

0.4

0.5

0.0

0.4

0.0

South Africa

0.6

0.0

0.5

0.6

0.3

0.4

CENTRAL AMERICA

2.1

Mexico

1.5

2.1 1.5 0.1

1.8

0.4 0.2

Panama

0.1

SOUTH AMERICA

9.3

Argentina

0.8

0.0

Brazil

0.7

0.6

Chile

1.8

1.5

Ecuador

0.6

Peru

4.8

NORTH AMERICA

6.2

Canada

0.9

0.4 0.2

2.5 1.0

6.4

2.5 1.0

6.8

2.9 1.3

5.2

1.7 0.8

1.9 0.9

0.2

0.2 16.2

0.0

1.5

1.7

2.0

0.2

0.6

0.2

0.3

1.2

1.4

1.0

4.8

5.1

6.0

0.4

0.3

0.4

0.7

0.4

0.5

3.7

3.9

4.6

0.1

3.8

0.1

2.4

2.2

2.7

0.2

0.3

11.0

11.3

12.0

22.5

23.4

24.6

4.7

5.0

5.3

2.7

2.8

2.9

6.1 0.9

0.6 0.2

5.0

4.9

0.4

14.1

13.7

2.9

European Union 2

5.3

5.2

1.3

29.8

32.8

34.8

47.2

52.0

55.7

5.4

5.7

6.2

25.0

27.2

29.0

Iceland

1.3

1.1

0.0

2.1

2.0

0.2

0.1

Norway

2.3

2.0

1.4

1.3

9.2

10.8

11.3

1.2

Russian Federation

4.5

OCEANIA

1.4

4.8 1.4

0.2 0.2

5.9

5.8

6.1

50.9

53.4

3.7 2.9

3.9 3.0

3.6 3.2

19.8 51.9

1.6 1.8

20.5

0.1 2.9

EUROPE

2.9

46.0

2.6

United States of America

of which Extra-EU

0.4

2.8

0.1

5.7

13.8

2.3

0.1

5.5

0.2

2.3

0.0

6.0

13.1

8.1

0.0

2.0

56.9

1.7 1.8

21.6 60.9

1.9 2.0

Australia

0.2

0.1

1.1

1.0

1.1

1.4

1.5

1.6

New Zealand

0.4

0.1

1.1

1.2

0.2

WORLD

92.7

90.9

76.1

80.0

133.3

142.5

152.1

127.6

135.6

146.1

World excluding Intra-EU Developing countries

108.9

115.4

123.5

105.4

110.8

119.4

68.3

67.4

71.6

75.5

72.1

76.0

82.3

37.6

39.3

43.1

Developed countries

24.4

23.6

4.5

61.1

66.6

69.8

90.0

96.4

103.0

LIFDCs

12.7

13.4

8.2

8.8

8.2

9.1

11.0

3.2

3.4

3.5

LDCS

8.7

9.2

3.5

3.7

2.9

3.1

3.3

1.1

1.2

NFIDCS

17.8

17.4

5.1

5.6

9.9

10.1

11.2

4.1

4.0

4.2

Production and trade data exclude whales, seals, other aquatic mammals and aquatic plants. Trade data include fish meal and fish oil. Including intra-trade. Cyprus is included in Asia as well as in the European Union. For capture fisheries production, the aggregate also includes 39 006 tonnes in 2015 and 5 229 tonnes in 2016 of not identified countries; data not included in any other aggregates. totals may not match due to rounding 1 2

photo ©FAO/Giulio Napolitano

WORLD MAIN SQUID AND CUTTLEFISH IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

China

346.46

378.97

451.90

443.30

294.58

293.71

Spain

273.71

249.17

265.95

270.96

274.51

291.53

Japan

150.18

168.86

158.66

151.94

161.53

183.10

13%

Italy

148.02

156.32

159.69

166.51

161.33

159.74

-1%

Thailand

0.00

189.19

151.34

146.40

-3%

Other countries

491.71

542.52

648.76

647.48

670.38

668.92

Total

1410.09

1495.83

1684.95

1869.38

1713.66

1743.40

By value (million USD)

(1 million USD) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Spain

951.15

774.81

855.53

808.71

1085.17

1243.43

15%

Japan

1015.85

924.72

836.11

734.70

823.00

1017.51

24%

Italy

694.44

693.87

721.13

681.03

804.84

880.91

China

598.28

634.68

707.89

662.10

602.27

636.05

Republic of Korea

292.21

281.81

355.69

331.52

370.05

437.42

18%

Other countries

1597.69

1691.51

1750.83

1969.19

2397.17

2668.84

11%

Total

5149.63

5001.41

5227.20

5187.25

6082.51

6884.17

13%

photo: ©FAO/Alessia Pierdomenico

WORLD MAIN SQUID AND CUTTLEFISH EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

China

326.38

397.42

462.50

505.94

547.33

515.71

-6%

Peru

276.22

271.76

304.80

284.88

170.14

174.63

India

143.58

174.49

155.92

150.36

162.75

172.02

Spain

102.32

107.88

117.30

128.71

130.36

146.56

12%

Indonesia

65.77

71.35

64.12

84.11

108.66

102.75

-5%

Other countries

607.58

667.48

834.98

840.21

738.94

655.93

-11%

Total

1521.86

1690.38

1939.62

1994.20

1858.19

1767.61

-5%

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2013

2014

China

2107.86

2371.06

2635.68

2843.39

3226.36

3225.98

India

512.54

580.98

525.00

496.25

642.44

758.23

18%

Spain

390.65

380.51

416.25

430.83

530.56

580.54

Peru

414.72

408.56

519.73

366.14

333.48

396.71

19%

Thailand

468.61

414.06

413.68

344.23

354.90

362.59

Other countries

1863.55

2136.36

2174.97

2065.36

2775.12

2532.46

-9%

Total

5757.92

6291.53

6685.30

6546.20

7862.86

7856.52

Note:Viet Nam and Bangladesh data are not reported Source: TDM GLOBEFISH Highlights | October 2016

WORLD MAIN OCTOPUS IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Republic of Korea

70.31

66.73

84.35

87.05

84.55

80.34

-5%

Japan

58.18

68.06

49.65

60.00

56.53

54.30

-4%

Italy

48.80

48.48

52.02

56.56

60.31

53.44

-11%

Spain

34.37

45.37

47.00

56.90

55.27

58.38

United States of America

16.91

15.61

19.27

22.84

20.77

25.66

24%

Other countries

48.38

58.29

56.29

63.22

65.99

69.59

Total

276.94

302.53

308.58

346.58

343.43

341.71

-1%

By value (million USD)

(1 million USD) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Spain

277.17

235.38

346.84

379.16

417.00

592.89

42%

Republic of Korea

295.29

297.57

437.29

432.45

434.59

480.24

11%

Japan

548.62

441.92

382.70

403.26

408.75

452.22

11%

Italy

327.43

242.28

323.10

322.07

350.01

405.25

16%

United States of America

104.67

80.75

107.85

124.44

123.09

181.59

48%

Other countries

331.04

309.12

335.92

358.49

385.81

489.29

27%

Total

1884.21

1607.02

1933.70

2019.87

2119.25

2601.47

23%

photo: ©FAO/GLOBEFISH

WORLD MAIN OCTOPUS EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

China

71.90

73.44

87.26

78.78

76.12

67.91

-11%

Morocco

35.83

61.85

44.18

63.02

61.14

56.06

-8%

Spain

27.80

29.26

28.69

32.45

37.25

40.33

Indonesia

15.12

11.21

14.91

15.87

13.76

17.94

30%

India

10.25

8.32

8.12

10.30

11.84

13.69

16%

Other countries

43.69

49.98

58.15

69.48

69.27

66.47

-4%

Total

204.59

234.05

241.30

269.91

269.37

262.40

-3%

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2013

2014

2015

2016

2017

China

502.88

523.10

650.85

552.15

567.45

584.43

Morocco

298.28

344.42

359.17

432.57

466.29

538.66

16%

Spain

224.89

175.11

240.13

227.62

281.50

381.80

36%

Portugal

101.19

102.25

131.54

95.79

98.39

110.29

12%

Indonesia

73.87

42.03

57.85

60.60

53.10

84.16

58%

Other countries

191.33

144.69

254.31

302.84

320.47

399.74

25%

Total

1392.43

1331.60

1693.85

1671.58

1787.21

2099.07

17%

Note: Viet Nam and Bangladesh data are not reported Source: TDM

GLOBEFISH Highlights | October 2016

WORLD MAIN TILAPIA IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

United States of America

205.22

211.49

216.38

215.33

187.99

175.14

-7%

Mexico

19.19

52.05

51.64

51.06

66.25

64.79

-2%

Côte d'Ivoire

21.64

38.96

35.48

-9%

Zambia

16.01

14.78

14.90

Islamic Republic of Iran Other countries Total

9.50

17.03

13.75

-19%

58.02

96.17

90.09

88.16

79.64

90.75

14%

401.69

404.64

394.81

-2%

By value (million USD)

(1 million USD) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016 -10%

United States of America

911.23

1000.95

1082.23

960.86

738.98

661.79

Mexico

54.32

168.71

169.23

136.01

155.43

147.77

-5%

Islamic Republic of Iran

0.00

44.05

66.29

47.80

-28%

Israel

24.94

15.19

46.09

37.71

48.49

43.31

-11%

Côte d'Ivoire

0.00

28.82

43.50

38.31

-12%

Other countries

217.38

336.36

324.26

285.64

257.28

265.03

Total

1207.87

1521.20

1621.82

1493.09

1309.97

1204.00

-8%

photo: ©yodaswaj/Fotolia

WORLD MAIN TILAPIA EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) China

2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

290.79

316.75

309.44

285.91

279.23

268.19

-4%

Taiwan Province of China

0.00

26.23

22.19

21.34

22.63

Indonesia

0.00

14.45

16.97

14.68

11.88

9.18

-23%

Honduras

7.45

11.68

11.69

11.86

9.83

8.63

-12%

Netherlands

3.22

4.54

4.45

5.06

4.57

8.37

83%

Other countries

19.73

41.85

50.57

57.10

53.05

47.00

-11%

Total

321.18

389.26

419.36

396.79

379.90

364.01

-4%

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012 China Indonesia Taiwan Honduras

2013

2014

2015

2016

2017

907.20

1078.89

1089.56

872.43

776.95

716.86

-8%

78.95

98.22

89.70

71.42

57.44

-20%

0.00

69.11

63.43

51.45

49.31

-4%

56.80

66.92

66.76

72.10

57.60

47.44

-18%

Colombia

20.14

29.20

37.44

42.16

38.71

41.69

Other countries

116.90

200.76

201.72

206.28

195.74

189.58

-3%

Total

1101.05

1454.73

1562.81

1346.09

1191.87

1102.31

-8%

Note: Viet Nam and Bangladesh data are not reported Source: TDM GLOBEFISH Highlights | October 2016

WORLD MAIN CATFISH IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

United States of America

107.84

118.90

108.80

114.47

137.18

111.65

-19%

Mexico

18.07

46.27

53.91

59.57

56.63

59.77

China

4.51

9.00

8.99

16.94

33.54

53.59

60%

Brazil

12.72

23.39

46.51

31.08

33.82

43.03

27%

Thailand

20.63

24.84

27.99

13%

Other countries

245.04

302.93

299.06

267.67

332.76

255.02

-23%

Total

388.18

500.49

517.28

510.36

618.76

551.03

-11%

By value (million USD)

(1 million USD) United States of America

2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

368.81

367.08

350.56

354.05

406.66

383.83

-6%

Mexico

40.76

98.31

111.34

111.04

90.79

107.71

19%

Spain

90.74

76.68

78.56

58.85

51.32

18.06

-65%

Brazil

28.74

46.52

91.55

57.16

51.73

94.78

83%

Netherlands

68.06

59.47

56.96

54.14

48.81

49.29

Other countries

517.50

593.77

588.17

592.34

620.50

667.58

Total

1114.60

1241.81

1277.13

1227.58

1269.81

1321.25

WORLD MAIN CATFISH EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) Viet Nam

2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

354.67

458.81

478.02

473.15

539.52

510.42

-5%

China

7.62

11.83

13.35

9.96

8.35

8.09

-3%

Netherlands

9.66

7.39

5.73

5.31

5.17

9.93

92%

Indonesia

0.00

7.76

4.83

6.72

11.12

5.30

-52%

Belgium

4.79

4.65

4.84

4.52

4.30

3.91

-9%

Other countries

25.12

22.48

21.68

22.38

23.61

29.58

25%

Total

401.85

512.92

528.43

522.04

592.06

567.24

-4%

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2014

Viet Nam

976.83

1096.41

1129.18

1095.84

1140.55

1182.79

China

31.56

47.21

63.60

49.36

50.47

41.34

-18%

Netherlands

42.04

31.03

23.06

18.51

19.97

36.20

81%

Belgium

22.55

21.68

21.17

18.30

16.99

16.27

-4%

Germany

18.90

17.75

12.94

10.82

9.45

10.13

Other countries

49.77

69.95

57.18

54.45

62.19

59.53

-4%

1141.65

1284.04

1307.13

1247.29

1299.62

1346.26

Total Source: TDM

2013

GLOBEFISH Highlights | October 2016

WORLD MAIN SALMON IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Sweden

456.89

452.70

494.12

557.98

523.50

462.07

-12%

United States of America

272.09

296.52

315.13

343.34

351.99

371.17

China

146.79

210.09

199.71

192.30

209.58

209.61

Japan

212.27

196.36

179.74

211.89

200.15

202.49

Denmark

165.34

166.54

186.27

186.99

183.26

194.03

Other countries

1065.35

1314.94

1423.23

1470.66

1435.09

1442.17

Total

2318.72

2637.14

2798.19

2963.16

2903.56

2881.54

-1%

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2013

2014

United States of America

1959.14

2554.06

2905.73

2698.85

3198.79

3726.66

17%

Sweden

2389.95

3238.66

3460.57

3176.03

3849.55

3628.87

-6%

Germany

1028.78

1383.62

1648.73

1408.80

1763.38

1842.17

Japan

1386.74

1235.73

1372.08

1320.91

1369.29

1659.61

21%

Denmark

870.13

1197.12

1347.84

1102.89

1387.41

1571.49

13%

Other countries

6380.21

9317.29

10328.30

9018.11

10568.36

11853.73

12%

Total

14014.95

18926.48

21063.26

18725.59

22136.77

24282.53

10%

WORLD MAIN SALMON EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2015

2016

2017

Change: 2017 over 2016

988.97

1025.04

971.94

984.27

464.56

497.58

441.10

451.85

411.23

446.53

511.95

486.66

421.15

-13%

243.72

214.03

255.23

199.38

254.39

28%

149.50

163.83

167.11

165.08

167.96

2012

2013

2014

Norway

985.53

947.73

Chile

326.45

391.89

Sweden

412.73

United States of America

174.58

Denmark

140.08

Other countries

569.01

796.20

825.79

818.97

896.85

815.20

-9%

Total

2608.39

2940.26

3103.70

3275.87

3161.00

3094.82

-2%

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2013

2014

Norway

5056.24

6687.39

6901.98

5852.39

7295.01

7792.03

Chile

1810.95

2521.02

3354.35

2830.51

3177.65

3815.22

20%

Sweden

2120.67

2884.25

3146.16

2952.92

3616.74

3332.59

-8%

Denmark

881.96

1214.00

1309.60

1090.34

1364.90

1509.44

11%

Poland

718.59

976.25

1093.21

930.63

1072.11

1269.91

18%

Other countries

4288.28

5354.51

5800.55

5596.27

6191.43

6956.92

12%

Total

14876.70

19637.43

21605.85

19253.07

22717.85

24676.11

Note: Viet Nam and Bangladesh data are not reported Source: TDM GLOBEFISH Highlights | October 2016

WORLD MAIN FISH MEAL IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

China

1249.36

980.62

1041.64

1030.52

1042.36

1582.83

52%

Norway

249.78

214.35

225.94

181.96

175.89

193.41

10%

Japan

257.09

199.65

253.95

230.52

157.48

180.02

14%

0.00

165.59

143.16

126.79

144.52

14%

Taiwan Province of China

65.60

73.42

81.11

79.33

108.02

124.01

15%

Other countries

Turkey

1093.59

1090.16

1186.25

1055.93

1098.12

1026.28

-7%

Total

2915.41

2558.20

2954.49

2721.42

2708.66

3251.06

20%

2015

2016

2017

Change: 2017 over 2016 38%

By value (million USD)

(1 million USD) 2012

2013

2014

China

1693.12

1675.69

1562.11

1797.53

1616.29

2228.36

Norway

398.28

383.57

398.61

292.90

311.19

289.05

-7%

Japan

356.20

318.25

377.29

368.51

226.51

249.14

10%

Taiwan Province of China

0.00

214.83

202.48

168.71

183.42

Turkey

89.27

115.56

109.51

119.81

151.32

157.14

Other countries

1504.84

1701.18

1779.07

1564.11

1577.30

1366.36

-13%

Total

4041.71

4194.25

4441.41

4345.34

4051.31

4473.47

10%

WORLD MAIN FISH MEAL EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Peru

1352.40

866.33

868.30

709.47

644.46

977.40

52%

Denmark

184.80

194.60

177.65

214.62

168.42

244.80

45%

Chile

309.27

239.45

257.68

193.61

191.64

207.99

United States of America

144.26

149.29

160.53

148.56

154.17

157.30

Morocco

88.91

83.98

136.98

110.88

134.57

139.08

Other countries

912.01

894.19

1011.07

1169.50

1122.09

1009.21

-10%

Total

2991.64

2427.84

2612.21

2546.63

2415.34

2735.78

13%

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2014

2014

Peru

1797.51

1388.64

1356.67

1175.72

1014.05

1384.72

37%

Denmark

274.83

344.24

303.23

346.33

289.62

368.13

27%

Chile

440.21

416.35

426.47

357.40

327.11

322.46

-1%

United States of America

145.54

185.63

197.00

181.80

223.08

181.87

-18%

Iceland Other countries Total

178.41

216.71

137.28

221.97

120.33

168.35

40%

1006.772211

1147.802217

1312.288127

1439.364339

1609.086967

1292.459923

-20%

3843.26

3699.39

3732.95

3722.58

3583.29

3718.00

Note: Viet Nam and Bangladesh data are not reported Source: TDM

2015

GLOBEFISH Highlights | October 2016

WORLD MAIN FISH OIL IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Norway

189.21

168.30

180.46

185.91

191.87

193.10

Denmark

166.30

98.56

122.30

89.56

94.84

97.78

Chile

70.33

41.85

58.65

70.59

50.47

59.65

18%

China

43.59

65.54

45.97

48.68

33.80

54.58

61%

Canada

50.05

33.66

36.84

30.81

39.02

51.11

31%

Other countries

330.97

264.87

291.84

493.14

349.99

364.07

Total

850.45

672.78

736.06

918.69

759.98

820.29

By value (million USD)

(1 million USD) Norway

2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

335.63

358.68

356.61

393.66

391.81

334.78

-15%

China

78.38

118.07

95.57

100.79

99.52

142.65

43%

Denmark

290.05

201.18

230.55

174.02

183.48

139.43

-24%

Canada

111.56

108.44

106.56

87.41

103.12

133.13

29%

United States of America

91.97

110.47

103.71

113.24

99.00

113.16

14%

Other countries

805.41

742.83

749.93

762.64

755.26

758.52

Total

1713.01

1639.67

1642.92

1631.77

1632.19

1621.68

-1%

WORLD MAIN FISH OIL EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Peru

311.84

125.90

163.07

116.76

95.05

165.03

74%

Denmark

149.70

119.75

140.09

118.07

142.61

146.75

Norway

68.48

66.75

82.45

86.58

83.90

88.50

Chile

70.53

67.13

85.27

79.57

68.67

61.48

-10%

United States of America

40.91

67.71

79.02

53.55

74.71

61.36

-18%

Other countries

227.16

207.24

217.40

248.79

278.17

306.13

10%

Total

868.61

654.48

767.30

703.32

743.11

829.25

12%

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2013

2014

2015

Peru

541.67

342.38

395.41

293.34

270.33

320.60

19%

Denmark

268.25

261.14

274.18

242.48

269.22

232.82

-14%

United States of America

83.89

134.71

152.69

129.44

163.34

127.83

-22%

China

81.76

113.12

123.18

162.31

133.50

123.55

-7%

Norway

118.95

123.00

125.40

118.28

114.42

107.60

-6%

Other countries

587.13

605.96

585.07

552.70

618.42

646.28

Total

1681.64

1580.30

1655.93

1498.55

1569.23

1558.68

-1%

Note: Viet Nam and Bangladesh data are not reported Source: TDM GLOBEFISH Highlights | October 2016

WORLD MAIN LOBSTER IMPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

United States of America

56.36

58.46

61.56

65.65

61.26

58.86

-4%

Canada

31.47

29.97

32.25

31.46

32.70

25.42

-22%

China

10.36

13.56

17.41

18.10

22.05

27.46

25%

France

8.41

8.55

8.71

8.53

8.20

11.04

35%

China, Hong Kong SAR

12.03

9.64

8.02

6.50

7.55

7.68

Other countries

34.22

37.59

42.63

43.00

43.85

47.15

Total

152.86

157.77

170.57

173.23

175.60

177.60

2015

2016

2017

Change: 2017 over 2016 -1%

By value (million USD)

(1 million USD) 2012

2013

2014

United States of America

1109.07

1127.52

1294.42

1424.82

1346.03

1325.85

China

327.18

464.62

576.67

555.91

667.05

837.96

26%

Canada

234.63

257.06

334.54

340.84

357.86

264.10

-26%

France

171.53

172.81

181.24

178.58

183.36

211.53

15%

China, Hong Kong SAR

289.38

175.62

138.70

132.44

152.31

142.20

-7%

Other countries

576.21

638.31

733.51

768.54

841.88

888.81

Total

2707.99

2835.96

3259.10

3401.14

3548.49

3670.45

WORLD MAIN LOBSTER EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

Canada

59.98

62.99

74.66

83.29

83.87

84.89

United States of America

49.98

52.39

58.74

56.68

58.58

50.46

-14%

United Kingdom

3.49

3.89

4.73

4.09

5.21

9.96

91%

Australia

7.42

7.90

8.48

8.24

8.50

8.93

Belgium

2.44

2.58

2.55

2.98

2.96

3.59

21%

Other countries

36.36

38.95

31.55

33.68

35.42

36.82

Total

159.66

168.69

180.70

188.97

194.54

194.65

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2014

2014

Canada

1086.62

1111.28

1378.51

1582.93

1625.70

1647.29

United States

527.67

626.19

762.25

752.95

798.87

694.47

-13%

Australia

422.96

485.17

594.71

551.99

529.86

526.27

-1%

New Zealand

180.43

204.96

221.94

213.15

229.63

199.69

-13%

United Kingdom

56.45

62.77

75.72

64.24

77.13

145.70

89%

Other countries

567.05

659.66

625.35

638.63

597.15

627.76

Total

2841.18

3150.03

3658.48

3803.89

3858.34

3841.18

Note: Viet Nam and Bangladesh data are not reported Source: TDM

2015

GLOBEFISH Highlights | October 2016

WORLD MAIN CRAB IMPORTERS By quantity (1000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

United States of America

96.33

108.04

104.63

107.97

107.64

109.42

China

61.35

57.76

56.01

53.11

65.47

76.26

16%

Republic of Korea

32.50

30.75

34.97

44.80

44.55

45.39

Japan

78.25

60.82

58.78

48.90

48.96

40.76

-17%

6.25

11.48

16.67

45%

Other countries

Thailand

90.09

102.88

122.43

107.02

109.37

109.88

Total

358.51

360.24

376.81

368.04

387.49

398.39

2015

2016

2017

Change: 2017 over 2016 22%

By value (million USD)

(1 million USD) 2012

2013

2014

United States of America

1349.16

1432.94

1604.43

1540.26

1590.33

1940.12

Japan

1070.26

764.22

813.03

718.82

829.62

763.56

-8%

China

460.39

493.19

496.44

500.50

614.35

770.58

25%

Republic of Korea

206.52

186.62

271.18

329.02

352.00

435.57

24%

China, Hong Kong SAR

218.93

248.48

245.24

184.12

175.70

187.30

Other countries

546.51

685.09

798.73

756.38

837.76

877.38

Total

3851.76

3810.54

4229.06

4029.11

4399.75

4974.52

13%

WORLD MAIN CRAB EXPORTERS By quantity (1 000 tonnes)

(1 000 tonnes) 2012

2013

2014

2015

2016

2017

Change: 2017 over 2016

China

78.76

77.07

79.64

82.17

74.56

75.02

Canada

70.68

73.63

71.18

69.37

66.26

72.49

Russian Federation

0.00

28.45

42.16

45.60

52.10

63.74

22%

Indonesia

0.00

34.17

28.09

23.75

29.04

27.37

-6%

United States of America

37.64

30.54

30.19

22.20

23.21

21.06

-9%

Other countries

85.38

93.32

102.84

109.51

122.53

121.43

-1%

Total

272.45

337.19

354.09

352.60

367.69

381.10

2015

2016

2017

Change: 2017 over 2016

By value (million USD)

(1 million USD) 2012

2013

2014

China

1083.29

1083.85

1204.49

1213.39

1094.16

1106.13

Canada

764.75

816.71

833.76

777.44

857.98

1134.45

32%

Russian Federation

0.00

285.61

468.90

488.46

583.14

842.78

45%

Indonesia

0.00

359.30

414.37

309.73

321.84

411.36

28%

United States of America

313.22

275.57

297.42

266.49

277.08

237.24

-14%

Other countries

704.04

794.91

1006.02

985.88

1117.83

1182.49

Total

2865.30

3615.95

4224.97

4041.39

4252.04

4914.45

16%

Note: Viet Nam and Bangladesh data are not reported Source: TDM GLOBEFISH Highlights | October 2016

For more information please contact:

Food and Agriculture Organization of the United Nations GLOBEFISH, FIAM Fisheries and Aquaculture Policy and Resources Division Products, Trade and Marketing Branch Viale delle Terme di Caracalla 00153 Rome - Italy (+39) 06 57052884

globefish@fao.org

www.fao.org/in-action/globefish

@FAOfish

ISBN 978-92-5-130657-4

7 8 9 2 5 1

3 0 6 5 7 4 BU674EN/1/06.18