Pacific catches pushing down prices for imported seafood

This year the salmon fishery in the Russian Far East has taken off successfully with the harvest forecasted to exceed the last year results by 26%. While in 2010 the catch totaled 340,000 tonnes, in 2011 the harvest is expected to amount to 430,000 tonnes. Wholesale and retail prices for fish products have begun declining. Imported fish, e.g. Atlantic salmon, has also started depreciating on the market. Many retailers have already offered their buyers fish products at discounts.

Last year prices for Norwegian salmon exceeded the psychological limit of RUR300.00 per kilo in wholesale, which partly resulted from short salmon supply on the world market.

Now the wholesale prices have been declining due to increase of the Russian catches, seasonal drop of demand, as well as changed in world structure and rise of farmed fish production in China. More specifically, in the recent two months Norwegian salmon has depreciated in Moscow by 17% to RUR250.00 per kilo. Prices for Chilean salmon continue declining. From late March 2011 to mid-June 2011 wholesale prices for Pacific pink salmon fell by 33% to RUR60.00 per kilo.

Under the influence of the world market structure prices for Norwegian salmon should stabilize, experts say. Probably, Norwegian products may depreciate to RUR200.00-220.00 per kilo due to dumping of the Scandinavian producers. Prices for Pacific seafood and salmon caviar will depend on the results of the salmon season. Increase of domestic catches in the Russian Far East will not influence on the import volume of salmon fish.

As per mid-June 2011 salmon caviar from the new season has not yet been available in retail network, therefore sellers have been trying to sell off salmon caviar with the storage life about to terminate. As a result, wholesale prices for frozen salted caviar in June 2011 in Moscow have fallen by 13% on March 2011 to RUR1,250-1,300 per kilo.