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News Market Russian squid market going through period of low supply and high prices

Russian squid market going through period of low supply and high prices

MARKET
August 19, 2011 14:39

In 2011 Russian domestic price for squid product soared up.  Why? What are the inputs of domestic production and the role of imported product? What will the situation be in future?  Can the problem be solved? The answers to these questions are given by http://www.megafishnet.com/ as perceived by an expert in the trade.

According to FAO, about 3.5 million MT of squid is caught worldwide.  About half of it (1.8 Mt in 2008) is traded between countries, and the rest is consumed domestically.  It's worth saying that both assortment and participants of this trade are limited.  World prices for frozen squid are greatly determined by Argentinean Illex.  The reason is simple - this specie normally is abundant.  Year harvest from 1992 changed between 72 and 988 thousand MT, and average 345 thousand. It's worth saying that harvests 2009-2011 were very small, and this year Russia will not be able to buy much of it.

Russia lives its separate life at squid market.  The bundle volume of consumption includes commander squid, traditionally caught by Russian fishermen at North Kuril Islands and in Sea of Bering.  Its export outside ex-USSR is negligible because its flesh is extremely tender.  Made for other kinds of squid, the machines and technologies for drying, frying, and chemical treatment just destroy the product, and mechanical skinners will tear tubes.  The untreated squid is a bit yellow and has some special taste.  Foreign consumers don't like it.  Russians, vice versa, got used to this taste and believe (rightly!) that neutral taste of the other squids is often a result of chemical treatment.

The other species in Russian Far East seas are Japanese Flying Squid and Bartrami squid, but they are not popular target for catch.  Stock is large, but not concentrated, it makes trawling impossible.  Having no expertise in jigging, the Russians traditionally don't use jigger vessels, and greater part of the volume is caught by Koreans.  Respectively, the product is exported to Koreas.

Russian import of frozen squid in 2010 amounted to about 2247 MT.  Domestic production (excluding exported tentacles that are later re-imported dried) is about 30000 MT per year. 

The figures show that though re-sellers say that there is a certain shortage of imported squid, or threat Russian fishermen that domestic squid would be substituted with giant squid, it is all just wishful thinking.  Import is growing (the 1st half of 2011 - 2665 MT against 1260 MT in 2010), but it cannot seriously influence on the market.

Domestic producers' price for tube grew up this year, and is about two times higher than a year ago.  Processors trying to cut expenses look for a substitute, and find it.  Today they are tentacles (processed into dried straw, salads and canned) as well as cheap products of giant squid.

As for the main reason of unstable price, it is short storage time.  According to existing Russia's GOST standard, frozen squid products cannot be stored longer than 10 months.  It means that nobody can afford to store a stock till the next season as supermarket chains do not accept products when remainder of storage time is less than a half of initial period.  The season lasts from April (sometimes May) till September-October.  This year squid concentrated later than usual, the first deliveries took place in June, and producers successfully played their buyers.  Also, this year salmon harvest was extraordinary.  Almost all the fleet went there and processed the pink at East Kamchatka.  Nakhodka BAMR was actually the only producer.  Their monopoly didn't give the price to drop.  The other major squid catchers (Okeanrybflot and Akros) started in August, but they need to work hard, and have not made the first loads.  However, total catch for the year is more or less the same as a year ago.

Will the price go down?  Sure.  But not at once.  Neither sellers nor buyers are interested in it today. 

What then?  Problems for everybody.  Retail price for squid will be high till Xmas at least.  The wholesalers  will come to spring with expensive stock close to expiration, and when new product comes, nobody will buy the old stock. Price-2012 will be low till autumn at least.

What is the lesson?  That's clear as well.  It's necessary to increase storage time.  The 10 months restriction is purely bureaucratic.  It's important either to change GOST (it's a really long project), or to prepare TU Specifications (a form of Russian standard).  Anyway, to make the storage time two years, it is necessary to store the product for almost two and a half years and regularly check it.  But this is the most realistic way of market stabilizing.

Russian import of squid products (chilled, frozen, dried and other) in 1st half of 2009-2011 as broken down by product HSCs, countries of origin and Russian importers

Squid products by HSCs / Countries of origin / Russian importers

Net weight kg

Customs value RUR

January-June 2009

January-June 2010

January-June 2011

January-June 2009

January-June 2010

January-June 2011

0307419100 - SQUID LOLIGO SPP., ОMMASTREPHES SAGITTATUS, LIVE, FRESH OR CHILLED

830

1,765

23,602

332,559

622,250

2,028,651

ITALY

201

 -

 -

138,620

 -

 -

AKVISTO OOO

40

 -

 -

11,179

 -

 -

TEZORO DEL MARE OOO

161

 -

 -

127,441

 -

 -

MOROCCO

 -

374

35

 -

143,794

14,579

LA MARE OOO

 -

374

35

 -

143,794

14,579

PERU

 -

 -

22,512

 -

 -

1,658,949

OKEANRYBTORG OOO

 -

 -

22,512

 -

 -

1,658,949

PORTUGAL

7

3

 -

1,604

654

 -

SONIKA OOO

7

3

 -

1,604

654

 -

USA

 -

 -

58

 -

 -

22,949

TD CHETVERG OOO

 -

 -

58

 -

 -

22,949

TUNISIA

 -

339

594

 -

82,842

140,668

DJETRIKO OOO

 -

293

594

 -

64,916

140,668

LA MARE OOO

 -

46

 -

 -

17,926

 -

FRANCE

622

1,049

403

192,335

394,960

191,506

DJETRIKO OOO

 -

 -

7

 -

 -

3,518

GALATEYA OOO

15

219

39

2,400

46,388

10,811

MARKET PLUS OOO

604

 -

 -

188,823

 -

 -

PRAIM FISH OOO

 -

21

 -

 -

8,049

 -

REKORD OOO

 -

 -

351

 -

 -

176,247

SANKT PETERFISK OOO

3

 -

6

1,112

 -

931

STATUS 1 OOO

 -

809

 -

 -

340,523

 -

0307419900 - SQUID (NOTOTODARUS SPP., SEPIOTEUTHES SPP.), LIVE, FRESH OR CHILLED

497

839

 -

239,721

384,938

 -

FRANCE

497

839

 -

239,721

384,938

 -

PRODTORGCOMPANY OOO

15

 -

 -

7,940

 -

 -

STATUS 1 OOO

482

839

 -

231,781

384,938

 -

0307493100 - SQUID LOLIGO VULGARIS, FROZEN

6,271

14,125

19,344

1,016,194

2,372,723

2,917,706

INDONESIA

 -

1,663

 -

 -

188,308

 -

PROGRESS OOO

 -

1,663

 -

 -

188,308

 -

ITALY

4,443

3,784

11,331

535,685

435,938

1,198,120

5 ELEMENT OOO

4,443

3,784

11,331

535,685

435,938

1,198,120

THAILAND

 -

3,008

 -

 -

525,194

 -

URENHOLT OOO

 -

3,008

 -

 -

525,194

 -

TUNISIA

1,828

5,670

8,013

480,509

1,223,283

1,719,586

DJETRIKO OOO

1,828

5,670

8,013

480,509

1,223,283

1,719,586

0307493500 - SQUID LОLIGО РАТАGОNIСА, FROZEN

 -

23,390

23,256

 -

2,764,011

2,846,508

SPAIN

 -

23,390

23,256

 -

2,764,011

2,846,508

AMARE-M OOO

 -

7,484

3,700

 -

795,737

434,387

SIFUD LAIN OOO

 -

15,906

19,556

 -

1,968,274

2,412,122

0307493800 - SQUID OTHER THAN LOLIGO SPP., FROZEN

146,684

654,168

296,764

15,463,542

60,818,988

29,569,339

VIETNAM

10,040

79,452

78,628

1,008,099

7,044,456

8,836,488

ATLANT-PACIFIC ZAO

 -

23,000

 -

 -

2,064,507

 -

FLANDERR-IMPORT OOO

 -

 -

4,015

 -

 -

360,169

GULFSTREAM OOO

 -

 -

12,766

 -

 -

1,387,209

RUSSIAN FISH COMPANY ZAO

 -

44,720

 -

 -

3,931,086

 -

SEBASTES OOO

10,040

11,732

61,848

1,008,099

1,048,863

7,089,111

DENMARK

8,000

 -

2,094

939,337

 -

336,925

NERIYA-TORG OOO

 -

 -

1,110

 -

 -

168,877

NORDIC SEAFOOD RUS OOO

 -

 -

984

 -

 -

168,048

SATURN TRADE OOO

8,000

 -

 -

939,337

 -

 -

INDIA

 -

24,618

3,286

 -

2,232,739

302,723

ALBATROS SEA FOOD PRODUCTION OOO

 -

24,618

550

 -

2,232,739

50,475

EFFECT MANAGEMENT GROUP OOO

 -

 -

2,736

 -

 -

252,248

SPAIN

32,213

28,449

9,782

3,222,451

2,633,921

999,616

AMARE-M OOO

 -

2,225

 -

 -

244,857

 -

AMPIR OOO

25,564

26,224

 -

2,503,299

2,389,064

 -

ART-ULTRA OOO

 -

 -

7,934

 -

 -

837,488

BALTFISH OOO

 -

 -

377

 -

 -

34,634

FLAGMAN OOO

 -

 -

1,472

 -

 -

127,494

REISING OOO

6,649

 -

 -

719,152

 -

 -

ITALY

98

 -

 -

12,708

 -

 -

AKVISTO OOO

98

 -

 -

12,708

 -

 -

CHINA

88,000

389,840

142,358

9,313,715

36,420,426

10,917,673

ALBATROS SEA FOOD PRODUCTION OOO

88,000

389,840

142,358

9,313,715

36,420,426

10,917,673

USA

3,933

6,800

 -

378,961

612,076

 -

DJETRIKO OOO

3,933

6,800

 -

378,961

612,076

 -

THAILAND

4,400

125,009

60,616

588,271

11,875,370

8,175,914

AUSTRADE OOO

788

 -

1,078

81,765

 -

196,825

FISH TRADE OOO

3,112

 -

 -

401,561

 -

 -

HENDLER OOO

 -

 -

4,676

 -

 -

556,483

NORDIC SEAFOOD RUS OOO

 -

75,500

19,403

 -

6,942,251

1,977,380

RUSSIAN FISH COMPANY ZAO

 -

43,638

20,870

 -

4,273,988

2,750,359

SIFUD LAIN OOO

 -

5,871

12,688

 -

659,131

2,284,131

URENHOLT OOO

500

 -

1,902

104,944

 -

410,735

0307495100 - SQUID ОMMASTREPHES SAGITTATUS, FROZEN

2,856

2,147

6,728

291,861

209,147

642,673

CHINA

 -

 -

6,720

 -

 -

632,499

NINYA OOO

 -

 -

6,720

 -

 -

632,499

USA

 -

 -

8

 -

 -

10,174

PRODUKTY VAM OOO

 -

 -

8

 -

 -

10,174

JAPAN

2,856

2,147

 -

291,861

209,147

 -

BALTIYA-LEA OOO

2,856

 -

 -

291,861

 -

 -

NINYA OOO

 -

2,147

 -

 -

209,147

 -

0307495900 - OTHER SQUIDS, FROZEN

888,493

566,334

2,319,583

39,955,353

37,156,924

177,027,063

SPAIN

3,786

2,379

520

415,478

327,091

51,411

LOGOIMPORT OOO

 -

 -

520

 -

 -

51,411

REISING OOO

3,786

 -

 -

415,478

 -

 -

SIFUD LAIN OOO

 -

2,379

 -

 -

327,091

 -

CYPRUS

620

 -

 -

169,718

 -

 -

STATUS 1 OOO

620

 -

 -

169,718

 -

 -

CHINA

324,360

515,447

1,637,750

17,543,694

34,052,322

147,083,429

ALBATROS SEA FOOD PRODUCTION OOO

 -

 -

259,413

 -

 -

22,734,404

BARRAKUDA OOO

 -

23,500

20,523

 -

2,195,682

1,844,048

EKVATOR OOO

48,000

 -

 -

2,483,542

 -

 -

FAUST-K OOO

9,360

 -

 -

973,946

 -

 -

FIRMA STIF OOO

 -

 -

23,000

 -

 -

2,087,650

FLANDERR-IMPORT OOO

 -

70,590

196,906

 -

4,782,647

17,410,397

FROZEN FUD OOO

 -

 -

202,050

 -

 -

17,056,366

HENDLER OOO

 -

 -

97,078

 -

 -

8,907,880

LAL OOO

 -

23,390

 -

 -

1,648,655

 -

MEGA OOO

 -

 -

22,950

 -

 -

1,881,561

NERIYA-TORG OOO

 -

 -

23,500

 -

 -

2,385,605

NOKTOUZ-DV OOO

24,000

 -

 -

1,205,507

 -

 -

NORD VEST FISH OOO

 -

 -

155,791

 -

 -

13,649,272

OPTTORG OOO

 -

 -

25,000

 -

 -

2,258,573

PANAFISH OOO

216,000

364,802

41,335

11,403,414

22,546,957

3,273,478

POLAR SIFUD RASHA OOO

 -

 -

203,799

 -

 -

17,784,443

PRIMRYBEKSPORT OOO

22,000

 -

 -

1,155,556

 -

 -

PRODKO OOO

 -

 -

230,919

 -

 -

21,077,347

RUSSIAN FISH COMPANY ZAO

 -

14,110

73,325

 -

1,311,199

8,864,577

SATURN TRADE OOO

 -

19,055

 -

 -

1,567,182

 -

TOMSKAYA PRODOVOLSTVENNAYA KOMPANIA OOO

5,000

 -

 -

321,730

 -

 -

ULTRA FISH OOO

 -

 -

62,162

 -

 -

5,867,830

PERU

559,114

27,100

244,147

21,646,193

746,598

10,043,465

ARGO OOO

 -

 -

55,325

 -

 -

2,574,261

BARRAKUDA OOO

 -

27,000

 -

 -

742,080

 -

ELITMARKET OOO

88,021

 -

 -

1,855,871

 -

 -

FISH TRADE OOO

43,020

 -

 -

1,083,650

 -

 -

FORVARD OOO

49,980

 -

 -

4,748,349

 -

 -

NEPTUN OOO

296,000

100

 -

11,441,808

4,518

 -

NORDFISH OOO

56,713

 -

 -

1,188,010

 -

 -

PORTAL-DV OOO

25,380

 -

 -

1,328,505

 -

 -

PRODSERVIS OOO

 -

 -

45,000

 -

 -

2,150,759

RUSSIAN FISH COMPANY ZAO

 -

 -

27,690

 -

 -

1,315,958

SEBASTES OOO

 -

 -

116,132

 -

 -

4,002,487

THAILAND

500

169

 -

123,534

15,460

 -

AUSTRADE OOO

 -

169

 -

 -

15,460

 -

URENHOLT OOO

500

 -

 -

123,534

 -

 -

CHILE

 -

 -

399,835

 -

 -

17,638,437

BALTRYBKOM OOO

 -

 -

48,000

 -

 -

2,530,102

MENSHENIN MIHAIL VASILEVICH IP

 -

 -

50,999

 -

 -

2,354,531

MERIDIAN-TRADING OOO

 -

 -

125,900

 -

 -

5,274,465

PROFIBIZNES OOO

 -

 -

25,792

 -

 -

1,109,267

RUSSIAN FISH COMPANY ZAO

 -

 -

98,124

 -

 -

4,022,999

VALMI-TORG OOO

 -

 -

51,019

 -

 -

2,347,072

JAPAN

113

21,239

37,331

56,736

2,015,454

2,210,321

CHAS PIK OOO

 -

6,668

 -

 -

644,782

 -

NOVYI VEK OOO

113

 -

 -

56,736

 -

 -

PYATYI OKEAN OOO

 -

99

 -

 -

62,494

 -

RUSPRODIMPORT OOO

 -

3,492

 -

 -

328,879

 -

SINFU OOO

 -

10,980

4,703

 -

979,299

404,408

TEZROK OOO

 -

 -

32,629

 -

 -

1,805,914

0307499100 - SQUID LOLIGO SPP., ОMMASTREPHES SAGITTATUS, OTHER, EXCEPT FOR LIVE, FRESH, CHILLED OR FROZEN

158,327

25,639

76,600

19,430,033

3,118,800

9,513,416

CHINA

158,327

25,639

76,600

19,430,033

3,118,800

9,513,416

EVEREST-2005 OOO

6,602

 -

4,600

2,323,483

 -

2,302,564

INTER ROS OOO

36,000

 -

 -

4,215,790

 -

 -

MALLAI OOO

38,862

13,701

 -

4,208,838

1,467,169

 -

NAVIGATOR OOO

1,980

1,373

 -

538,280

452,256

 -

ROVENA OOO

2,128

 -

 -

207,022

 -

 -

SIAM OOO TK

72,755

10,565

 -

7,936,620

1,199,374

 -

SIMEKS OOO

 -

 -

72,000

 -

 -

7,210,852

0307499900 - OTHER SQUID, OTHER TYPES OF DRESSING, EXCEPT FOR LIVE, FRESH, CHILLED OR FROZEN

790,342

711,537

1,674,451

111,027,891

88,312,603

237,394,570

CHINA

771,987

711,537

1,674,451

107,670,670

88,312,603

237,394,570

ATP MULTI-TRANS OOO

 -

 -

13,800

 -

 -

1,567,926

AZIATSKO-TIHOOKEANSKAYA ASSOCIACIYA OOO

15,000

31,500

 -

1,926,016

3,769,722

 -

BEREG NADEJDY OOO

22,000

91,176

 -

2,837,493

11,163,200

 -

BERLIT DV OOO

15,970

12,020

9,941

2,082,398

1,477,701

1,120,286

BRIZ-DV OOO

 -

 -

63,965

 -

 -

7,223,896

CLEARANCE SERVICE OOO

30,364

 -

 -

4,341,657

 -

 -

CZYA-BAO DV OOO

89,000

 -

 -

11,441,536

 -

 -

DAL MEDEYA OOO

 -

 -

6,698

 -

 -

776,655

DALDELIKATES OOO

3,078

 -

 -

478,091

 -

 -

DAL-MEDEYA OOO

26,826

31,680

 -

3,473,299

3,842,157

 -

DV RYBNYI MIR OOO

 -

24,000

34,558

 -

3,053,714

3,832,567

DV-REGION OOO

 -

85,000

 -

 -

10,349,054

 -

FISHKA OOO

4,000

15,075

14,970

835,620

3,308,355

2,529,082

FISHTORG OOO

8,674

 -

 -

1,096,809

 -

 -

FLANDERR-IMPORT OOO

 -

 -

61,341

 -

 -

6,988,517

GRANI OOO

 -

4,132

13,038

 -

607,153

1,810,260

GRIN KYUZIN OOO

 -

 -

3,656

 -

 -

425,837

KAMBEI OOO

45,400

 -

 -

6,172,548

 -

 -

KDV GRUPP OOO

 -

 -

370,920

 -

 -

94,331,695

KNYAZEV IGOR VALEREVICH IP

49,195

21,561

167,729

4,027,661

1,650,449

11,755,264

KORNER OOO

 -

 -

51,739

 -

 -

3,827,780

LESTA OOO

 -

21,390

 -

 -

2,566,420

 -

MARKET LAIN DV OOO

11,560

44,462

77,529

697,320

3,750,601

6,045,312

MARKET LAIN PLYUS OOO

89,922

 -

 -

11,662,190

 -

 -

MASLOKOMBINAT NIJEGORODSKII OOO

2,248

 -

 -

685,031

 -

 -

MERIDIAN PLUS TRADE OOO

25,980

 -

 -

4,730,081

 -

 -

MONOLIT OOO

 -

 -

6,000

 -

 -

683,604

NOVYI OKEAN OOO

 -

 -

35,730

 -

 -

4,039,460

NOVYI VOSTOK OOO

6

99,342

177,169

833

11,956,671

19,142,641

PORTAL-DV OOO

3,000

 -

 -

432,162

 -

 -

POSEIDON PRO OOO

4,782

3,771

9,850

597,897

469,523

1,278,286

PRODSNACKMASTER OOO

54,870

102,837

 -

7,018,205

12,406,472

 -

RYBNYI RYAD OOO

8,609

19,902

53,545

1,128,971

2,399,845

6,114,822

SIBIRSKAYA IMPORTNAYA KOMPANIA OOO

4,500

 -

 -

645,552

 -

 -

SISTEMA OOO

 -

26,000

122,201

 -

3,249,558

13,980,267

SNACK-GROUP OOO

17,031

8,817

36,528

6,357,295

3,107,128

10,408,075

TIMOSHENKO YURI ALEKSANDROVICH IP

 -

 -

5,000

 -

 -

562,689

TRANSSERVIS OOO

93,420

26,595

 -

13,007,950

3,185,127

 -

UPRAVLYAYUSCHAYA KOMPANIA SB ZAO

36,216

42,277

 -

6,443,607

5,999,752

 -

VERESK OOO

14,166

 -

 -

1,737,639

 -

 -

VEST OOO

96,170

 -

 -

13,812,811

 -

 -

YURAN OOO

 -

 -

338,545

 -

 -

38,949,651

URUGUAY

18,180

 -

 -

3,330,186

 -

 -

UPRAVLYAYUSCHAYA KOMPANIA SB ZAO

18,180

 -

 -

3,330,186

 -

 -

JAPAN

175

 -

 -

27,036

 -

 -

DJASKON OOO

175

 -

 -

27,036

 -

 -

TOTAL for squid products

1,994,300

1,999,944

4,440,329

187,757,153

195,760,384

461,939,926

The table has been compiled by analysts of http://www.megafishnet.com/ from official data of Russia's Federal Customs Service

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