Overview of Moscow's freshfrozen fish market in December 2008

In December 2008 trade in freshfrozen seafood in Moscow has displayed mixed price trends, analysts of www.fishnet-russia.com (www.fishnet.ru) concluded after analyzing the current situation on the market.

December 2008 shows that wholesale seafood trade has somewhat suffered from the crisis. The statement can be proved by such developments as slow market activity, problems with bank credits, rising import prices due to growing USD and Euro exchange rates, as well as bankruptcy of several companies and reduction of affiliates by some companies.

Rosselkhoznadzor (Russia's Federal Service for Veterinary and Phytosanitary Surveillance) has also added fuel to the fire by announcing closure of shipments from non-approved fish plants of China, the USA, Canada, EU and Japan (further reports say that the Service has delayed implementation of the restriction for a number of countries including the USA, China, etc. until 1 July 2009). Moreover, the importers have been aware when and from which companies importation will be allowed because none of the importers has seen the lists. This has naturally added even more tension to the traders' already difficult situation. As of 20 December 2008 the Russian vets have also introduced restrictions for seafood importation from Vietnam on the grounds of loss of confidence in the Vietnamese controlling bodies, Nafiqaved in particular, who are claimed to have been issuing certificates to the plants non-approved for export to the Russian Federation.

Besides, in the course of December 2008 the Bank of Russia has expanded the Euro-USD pair corridor to the ruble thus gradually weakening the Russian currency. As a result of this measure and other factors, the USD rate has grown from RUB27.90 in the beginning of December 2008 to RUB29.90 by the end of the month. The Euro exchange rate jumped from RUB35.40 to RUB40.80.

In general, throughout December, which is a traditionally fruitful month in terms of turnover, the market activity has turned to be disappointing. Many companies speak about absence of brisker seafood trade in the first half of the month, the sales growing only in the second half of the month. Expectations of rush trade, especially in delicatessen products, have not come true and, moreover, in the second half of the month the traders have been reporting a decrease of prices for salmon caviar and some other products. Besides, in December 2008 there has been a decrease of prices for mackerel, Baltic herring, hake and Norwegian salmon.

Meanwhile, prices for squid, pangasius catfish fillets and Chinese pollock fillets have risen.

Pink salmon

In December 2008 the situation on Moscow's pink salmon market has remained stable. Traders report stable demand for the product without any noticeable changes observed. The market participants speak about smaller supply of pink salmon of good quality. Some insiders think that despite the crisis prices for pink salmon will not fall in the beginning of the year 2009.

In Moscow 1st graded w/r pink salmon silverside has been offered from RUB66.00-68.00 per kilo for the lots from 10 tonnes, 1st graded head-on gutted pink salmon has been traded from RUB70.00 per kilo on the same terms.

Prices of 1st grade pink salmon headed and gutted amount to RUB87.00-90.00 per kilo for the lots from 10 tonnes ex-coldstore in Moscow.

Pink salmon fillets skin-on IQF 300 grams have been available at RUB95.00-112.00 per kilo.

American headed pink salmon 1+ in transit to coldstore has been offered from RUB95.00 tonnes in Saint Petersburg.

Chum salmon

According to the market participants, in December 2008 trade in chum salmon, just like in pink salmon, has been stable. Prices for 1st grade head-on and gutted chum salmon harvested in Kamchatka have amounted to ca.RUB77.00-80.00 per kilo ex-coldstore in Moscow.

Headed and gutted chum salmon of fairly good quality and from the Okhotsk and Kamchatka harvest has been offered from RUB84.00-86.00 per kilo in Moscow.

IQF chum salmon fillets (with <5% glazing) made in Kamchatka has been traded ex-coldstore in Moscow from RUB105.00 per kilo.

Salmon roe

In December 2008 prices of salted salmon roe have displayed a negative trend. Expectations of a price rise (namely to RUB1800-2000 per kilo), which has been awaited by the traders, did not come true. The current crisis has played its role in this aspect, the financial crisis making consumers save money especially on purchases of delicatessen products.

Wholesalers have been gradually decreasing prices in the course of the month in order to push up the demand which has appeared to be not as strong as it has been expected.

In December 2008 large suppliers have been selling salted caviar in cubotainers from RUB1250 to 1350 per kilo in Moscow.

The average level of prices for 140-gram can amounts to ca.RUB180.00. Price-lists of many wholesalers display large fluctuations of product prices depending on producer and used raw. More specifically, canned salmon caviar in 140-gram cans has been offered from RUB160.00 to RUB255.00 per unit. Large processors have been offering the product from ca.RUB175.00 per can. Salmon caviar in 100-gram glass jar has been traded from RUB150.00 per can.

Sockeye roe has been offered from RUB1200 per kilo.

Chum salmon caviar has been offered at ca.RUB1300.00 per kilo.

Traders have been also offering Chinook caviar from RUB1350.00 per kilo.

Caviar of coho salmon harvested in Kamchatka has been marketed at ca.RUB1250.00 per kilo.

Along with the above, the traders have been also offering frozen trout roe 1st grade from RUB1350-1500.00 per kilo ex-farm.

Fresh roes of sockeye, coho and pink salmon in skeins have been offered at RUB600.00-650.00 per kilo.

Atlantic salmon

In December 2008 Moscow market of frozen Atlantic salmon has been displaying a price fall. On the average, from the beginning of the month the prices have fallen by 10-13%. Experts say that the price decrease has been caused by declining demand for delicatessen products which has been reported by many representatives of the retail chains. The average decrease of the demand for delicatessen fish, in particular for Atlantic salmon, is estimated by the experts at ca.20-40%.

The demand for the product has grown brisker only in the second half of December 2008.

In Moscow Atlantic salmon Superior made in Norway has depreciated from RUB210.00 to RUB188.00-190.00 per kilo of the size 5-6, from RUB202.00-245.00 to RUB191.00-195.00 per kilo of the size 6-7, from RUB210.00-RUB217.00 to RUB 199.00-205.00 per kilo of the size 7-8, and from RUB230.00 to RUB205.00 per kilo of the sizes 8-9 and 9+. Traders have reported absence of smaller sizes 1-2 and 3-4 in the price-lists of several companies.

Chilled Atlantic salmon 5-6 and 6-7 has depreciated correspondingly from RUB208.00 to RUB187.00 per kilo and from RUB211.00 to 189.00 per kilo. Large importers have not offered small and medium sizes either.

Trout

In December 2008 Moscow's market of frozen trout has been showing positive price trends for Chilean and Norwegian salmon. The average price rise amounted to ca.5-7%. In the middle of December 2008 the demand has grown.

By the end of December 2008 Chilean trout Premium has appreciated as compared to the start of the month. More specifically, the size 1.8-2.7 has been marketed at increased prices rising from RUB173.00 to RUB178.00 per kilo. Trout 2.7-4.0 has appreciated from RUB179.00 to RUB188.00 per kilo. By the end of the month smaller sizes have disappeared from the suppliers' offers.

Norwegian trout Superior has appreciated from RUB172.00 to RUB182.00 per kilo of the size 1.8-2.7, from RUB182.00 to RUB191.00 per kilo of the size 2.7-3.6 and RUB200.00 to RUB215.00-220.00 per kilo of the size 3.6-4.5.

Karelian trout has been offered ex-farm at RUB135.00 per kilo of the size 1.5-, RUB140.00 per kilo of the size 1.5-2.0, RUB150.00 per kilo of the size 2.0-3.0 and at RUB160.00 per kilo of the size 3.0+.

Chilled trout farmed in Karelia has been marketed ex-farm from RUB130.00 to RUB140.00 per kilo depending on the size. Live trout 2-3.5 ex-farm has been sold from RUB160.00 per kilo. Prices for Karelian trout have somewhat decreased in the course of the month.

Herring

In December 2008 the market participants have been reporting continuously strong demand for w/r herring and herring fillets before the New Year holidays. In general, the situation with prices has remained stable against the background of strong demand. There has been a decrease of prices for Icelandic herring fillets in transit to Murmansk. Traders have been offering herring of all the sizes from Norway, Scotland, Iceland, Japan and Russia.

Norwegian herring has been offered from RUB30.50 per kilo of the size 300+, RUB33.00 per kilo of the size 350+ and from RUB47.50 per kilo of the size 400+ in Saint Petersburg. In Moscow the same product has been marketed at prices from RUB32.00 per kilo of the size 300+, from RUB34.00 per kilo of the size 350+ and from RUB48.00 per kilo of the size 400+. The prices have been reported as stable.

Norwegian herring flaps 5-8 have been offered ex-coldstore in Moscow from RUB50.00 per kilo, while the count 6-10 has been on offer from RUB47.00-50.00 per kilo.

Besides, traders have also been marketing Icelandic herring fillets 6-10 ex-coldstore in Murmansk from RUB46.00, while the count 4-8 has been on sale from RUB48.00 per kilo. The prices have decreased approximately by RUB5.00 per kilo.

In December 2008 Russian herring 200-300 has been offered ex-coldstore in Murmansk from RUB23.00 per kilo, while the sizes 250+ and 300+ are available from RUB22.50 and RUB30.00 per kilo correspondingly.

Poorly graded herring classified as large and fat has been marketed from RUB23.00 per kilo.

Herring flaps 6-10 made by the Russian producer FOR have been offered ex-coldstore in Saint Petersburg from RUB46.50 per kilo.

Prices of Pacific herring have remained unchanged. More specifically, SAF prices ex-vessel have been reported at ca.RUB18.00 per kilo.

Mackerel

In December 2008 mackerel trade has displayed mixed price trends. In the first half of December 2008 there was a slight decrease of prices, while in the second half of the month prices started rising. The market participants have been reporting strong demand for mackerel before the New Year.

More specifically, Norwegian w/r mackerel has been offered by many market participants in Moscow at following prices: RUB64.00 per kilo of the size 300-500, RUB86.00 per kilo of the size 400-600, and from RUB102.00 per kilo of the size 500+.

In Saint Petersburg Norwegian mackerel 300+ has been offered in transit to coldstore at prices from RUB30.50 per kilo. The size 400-600 has been offered from RUB84.00 per kilo.

Scottish mackerel 300-500 has been available in St. Petersburg from RUB62.00 per kilo ex-coldstore. The sizes 400-600 and 600+ have been offered from RUB84.00 (RUB86.50 per kilo in Moscow) and RUB125.00 per kilo (RUB127.00 in Moscow) correspondingly. By the end of the month the prices have jumped approximately by RUB2.00 per kilo.

Japanese mackerel has been marketed ex-coldstore in Saint Petersburg at RUB70.00 per kilo of the size 400-600, RUB75.00 per kilo of the size 500-700 and at RUB80.00 per kilo of the size 600+.

The price of headed Russian mackerel 200-300 made by FOR has amounted to RUB68.50 per kilo in Moscow.

Baltic herring, Baltic sprat

In December 2008 the price trends for Baltic herring and sprat have been stable or negative. In the beginning of the month prices of Baltic herring somewhat decreased, however in general the situation has been stable.

More specifically, Estonian sprat 10-12 cm in transit to coldstore has been sold at RUB21.50 per kilo in Saint Petersburg. The same product has been offered at about RUB25.00 per kilo ex-coldstore in Moscow.

Swedish sprat 10-12 cm has been available ex-coldstore in Moscow from RUB24.00 per kilo and from RUB23.00 per kilo for lots larger than 20 tonnes. The same product in transit to coldstore has been marketed at RUB22.00 in St. Petersburg. The prices have remained stable.

Finnish sprat 8-10 has been marketed in Moscow region at RUB20.00 per kilo ex-coldstore.

Latvian sprat has been available ex-coldstore in Saint Petersburg at RUB20.00 per kilo of the size 10 cm and at RUB19.00 per kilo of the size 9 cm fit for canning.

Finnish herring 11-15 have been sold in Saint Petersburg from RUB19.50 per kilo. Subject to prepayment the count 15-17 has been offered at RUB23.00 per kilo, while the count 17+ has been available at RUB25.00 per kilo ex-coldstore in Moscow.

Swedish herring 14-18 has been offered at RUB25.00 per kilo in Moscow, the size 18+ has been available at RUB31.00 per kilo ex-coldstore.

Capelin

In December 2008 the situation on the Russian market of imported capelin has been comparably stable. Traders have noticed a shortage of supply of imported capelin. In the meantime, prices of Russian small capelin from the new harvest have been gradually decreasing practically throughout the month. By the end of December 2008 the prices have stabilized.

During the whole month Canadian capelin 30/40 has been available on the market at about RUB56.00 per kilo.

Capelin 35/45 made by Murmansk Trawl Fleet has been offered by the company's branch in Moscow from RUB33.00 per kilo ex-coldstore.

In December 2008 small capelin 60-70 from the new harvest has been available in Murmansk from RUB31.00 per kilo ex-coldstore. Capelin of the count 70+ has been offered at RUB33.00 in Moscow and from RUB32.00 per kilo in Saint Petersburg.

Blue whiting

From the start of December 2008 blue whiting prices in Murmansk began rising. On the average the product has appreciated by RUB2.00-3.00 per kilo. By the middle of the month the price rise has reached Saint Petersburg. In the meantime, in Moscow the prices have been comparably stable. The market has been showing a shortage of imported products.

In Murmansk blue whiting 20+ has been appreciating from RUB22.00 to RUB25.00 per kilo. Blue whiting from the March harvest has been offered at RUB22.80 per kilo.

In Moscow blue whiting from the harvest of June-July has been marketed ex-coldstore from RUB25.20 per kilo.

Blue whiting fillets produced by Murmansk Trawl Fleet have been offered at RUB40.00 per kilo ex-coldstore. The prices have remained stable.

Along with the above, traders have been offering minced blue whiting made in Saint Petersburg at RUB30.00 per kilo.

Large importers have been offering a limited supply throughout the month. In early December 2008 there was a fairly good supply of Scottish blue whiting ex-coldstore in Moscow and in the surrounding region at RUB26.00-28.00 per kilo and Norwegian blue whiting ex-coldstore in Saint Petersburg at RUB24.50 per kilo.

However, by the end of the month the supply of imported blue whiting has grown lower.

Russian pollock

In December 2008 after an active growth in the previous month pollock prices for H&G pollock have got stabilized. There has been a slight price rise for the Chinese pollock fillets.

More specifically, pollock has been traded in Moscow from RUB53.00 per kilo of the size 25+, from RUB54.00 per kilo of the size 30+, and at RUB55.00-57.00 per kilo of the size 35+.

Russian pollock fillets 30+ and 35+ with 4-5% glaze made in Kamchatka have been offered ex-coldstore in Moscow region from RUB82.00 per kilo skin-on and from RUB85.00 per kilo skin-off.

As for double frozen products originating from China, the produce has been appreciating in the course of December 2008. More specifically, skinned pollock fillets IQF have been offered ex-coldstore from RUB71.00 per kilo ща the size 4-6, at RUB67.00-72.00 per kilo of the size 6-8 and at RUB68.00-73.00 per kilo of the size 8+. Pollock fillets in cubes have been offered at RUB74.00 per kilo.

Subject to prepayment the products are marketed from RUB68.00 per kilo in transit to port of Saint Petersburg.

Hake

In the course of December 2008 prices for HGT hake originating from the USA, Canada and Ecuador have kept falling. According to a spokesman of one seafood importer, the price decrease for the North American hake has been caused by increased supply of the Russian products.

The minimum price of HGT hake IQF 300-500 from Canada has dropped from RUB85.00 to RUB82.00 per kilo, while the size 500+ has depreciated from RUB87.00 to RUB84.00 per kilo.

Prices for the US-made products have also decreased, though not as greatly as prices for the Canadian hake. The minimum price of HGT hake 300-500 from the USA in Moscow has remained comparably stable at RUB89.00-90.00 per kilo on the average, the same product has been also offered at RUB79.00 per kilo in transit to Saint Petersburg.

Hake from Ecuador has depreciated in the Russian capital from RUB72.00 to RUB67.00 per kilo of the size 80-100, from RUB80.00 to RUB69.00 per kilo of the size 100-200, from RUB81.00 to RUB76.00 per kilo of the size 200-400, from RUB86.00 to RUB78.00 per kilo of the size 400-600, from RUB90.00 to RUB80.00 per kilo of the size 600-1000, and from RUB94.00 to RUB82.00 per kilo of the size 1000+.

Prices for frozen hake meat in cubes and discs made in Uruguay have remained stable. In particular, meat in cubes 100+ has been offered from RUB68.00 per kilo, and meat in discs 100+ has been marketed from RUB67.00 per kilo.

Prices for Argentinean products have been stable. Argentinean hake fillets skinned and interleaved have been marketed in Moscow from RUB118.00 per kilo of the size 100-200, while the size 200-400 has been sold at RUB125.00. However, the supply of the products has remained low.

During December 2008 Chinese hake fillets have gone up in price. The Chinese hake fillets skin-on have been sold in Russia at prices rising from RUB83.00 to RUB90.00 per kilo of the size 6-8 ounces and from RUB84.00 to RUB91.00 per kilo of the size 8+. Prices for the same products in transit to Saint Petersburg have been higher from RUB90.00 per kilo.

Squid

In December 2008 the price trends on the squid market have been mixed. Prices for Comandor squid in the beginning of the month have grown slightly up and in the course of the month they have remained stable. Prices for non-cleaned illex squid tubes made in Argentina were decreasing in early December and started rising again closer by the end of the year.

The price for the magister squid tubes of the new harvest has been reported at RUB56.00-59.00 per kilo ex-coldstore in the Russian Far East. In Moscow squid tubes have been available at prices stable at RUB63.00-65.00 per kilo subject to pre-payment.

Traders have been also offering tentacles of magister squid at RUB38.00-42.00 per kilo and fins at RUB40.00 per kilo.

Skinned squid fins made by NBAMR have been offered ex-coldstore in Moscow at RUB50.00 per kilo, squid cuts have been marketed at RUB100.00 per kilo, while cleaned squid fillets made by Okeanrybflot have been available at RUB118.00 per kilo.

At the same time, prices for imported squid have remained stable or have been increasing.

By the end of December 2008 non-cleaned illex tubes originating from Argentina have slightly appreciated and the product has been offered in Moscow from RUB44.00 per kilo, while interleaved cleaned tubes of various sizes have been sold at RUB75.00 per kilo.

Cleaned squid tubes originating from China have been offered from RUB65.00 to RUB75.00 per kilo depending on the size.

Chilean and Peruvian giant squid fillets 1.5-4 have been marketed from RUB41.00 per kilo.

Pangasius

In December 2008 the situation on the Russian market of pangasius catfish has stabilized after an active rise in November 2008. According to importers, coldstore inventories of the product in the course of the month have been fairly good.

In the course of December 2008 pangasius fillet prices have remained at RUB58.00 per kilo. The minimum price for pink fillets 200+ in Moscow have been reported at RUB56.00 per kilo. The average prices as per late December 2008 amounted to ca. RUB56.00-60.00 per kilo for most of the importers.

White-coloured fillets 200+ IQF have been on sale in Saint Petersburg from RUB87.00 to RUB90.00 per kilo. The minimum price has increased, while the maximum price has remained unchanged.