Russian capelin fishery 2012 may turn short run

As per 15 February 2012 Russian pelagic fleet was targeting capelin in the Barents Sea, but the catch rates hardly inspired optimism. The lag on last year amounted to ca.14,000 MT. The fishery was impeded by lacking spotting support and unfavorable weather, reports http://www.megafishnet.com/.

In January 2012 for the first time in 40 years the scientists recorded abnormally high water temperatures on main capelin grounds. Therefore, the water conditions gave them grounds to forecast untypical development of the capelin season as the stock could mature quickly and migrate to the inshore waters, thus making this year season short.

First landings of capelin were sold at about RUR25.50-26.50 per kilo of the count 40-50.

In the meantime, by 9 February 2012 Norwegian fishermen harvested ca.20,000 MT of capelin and in the middle of the second month of the year Murmansk dockers were expecting landings of ca.500 MT of Norwegian capelin which would compensate for the lack of Russian capelin (as per 9 February 2012 the Russian fishermen landed only slightly more than 1,000 MT of capelin in Murmansk). Active operations with Norwegian chilled raw material were also encouraged by nulling of import duties for chilled capelin in 2012.

Speaking in general, the demand for capelin in mid-February 2012 remained weak, though basic prices were higher than last year.