Overview of seafood exports from Russia's Far East in June 2010
In June 2010 trade in seafood commodities from the Pacific region to main directions showed such important developments as recovering activity of snow crab shipments to Japan, the USA and China (both in live and frozen form), resumption of comparably active shipments of Russian driftnet sockeye and chum salmon to Japan, as well as acceleration of Atka mackerel shipments to Japan, according to the overview prepared by analysts of http://www.megafishnet.com/ (https://www.fishnet.ru/) based on Japanese and Russian sources.
Along with the above events, there were such important developments as large shipments of frozen pollock roe, especially to Japan, and those of halibuts and flounder, especially to China. Serious problems with shipments first of all touched cod species (meant for China) and salmon and herring roe products (meant for Japan).
Salmon
In June 2010 official import of frozen Russian salmon (less sockeye) to China was not registered at all, and in May 2010 imports totaled only ca.280 tonnes (but at the average price of nearly 2.85 USD per kilo, 0.10 USD per kilo up on the last year maximum registered in April). In general through the first half of the year traders imported ca.500 tonnes of Russian products, 86% down on the first half of 2009, however last year comparably high result of the first six months was due only to a switch of activity of seasonal shipments to January, while in the current sales year activity of seasonal shipments discontinued already in December.
The total volume of shipments of Russian products from the season of 2009 to China (mostly, pink salmon, but also chum salmon with a very small share of coho and Chinook salmon) amounted to ca.79,000 tonnes for the period from July 2009 to June 2010, 233% up on the same period last year. In the current season such activity of shipments can be hardly expected, however real situation on the grounds showed that the shipments would hardly decline considerably.
The highest price indications for seasonal import of the Russian raw material were registered in January and May 2010 (correspondingly 2.61 USD per kilo and 2.84 USD per kilo), and the lowest prices - in July and October 2009 (1.50 USD per kilo and 1.62 USD per kilo).
In June 2010 Japan imported more than 1000 tonnes of frozen sockeye of the Russian origin, approximately 60 times up on July import in 2009, when shipments from marine driftnet operations were nearly absent. However, through the first half of the year import declined by 30% to 1150 tonnes. On the other hand, the average import price through the first six months of the year rose by 57% and reached 720 Yen per kilo. In June it amounted to 715 Yen per kilo (ca.7.85 USD per kilo), 34% down on June 2009.
Frozen coho import in June 2010 amounted to only 40 tonnes, and through the first six months of the year it was limited to only 100 tonnes, which was still fairly much against the background of last year shipments of only 5 tonnes. The average import price through the first half of the year amounted to a little more than 325 Yen per kilo, but in June 2010 it was limited to only 285 Yen per kilo (ca.3.10 USD per kilo).
The volume of the Japanese import of frozen chum salmon and some other Pacific salmon species (less pink) in June 2010 amounted to nearly 450 tonnes and the import volume through the first half of the year also turned out to be at that level. In the meantime, last year when shipments of driftnet salmon were absent, imports in June totaled only ca.10 tonnes. The average import price in June and in the first half of the year leveled at 380 Yen per kilo (ca.4.15 USD per kilo).
Import of salted sieved salmon caviar of the Russian origin to Japan in June 2010 was not registered already and the half year volume of import shipments remained within 20 tonnes, but last year shipments of such products were not registered at all. Import of frozen sack roe was limited to 500 tonnes, 31% down on last year (it was registered neither in May nor in June). The average import price for January-June 2010 amounted to ca.1065 Yen per kilo, 36.5% down on last year (the average import price of sieved roe amounted to 2035 Yen per kilo).
Herring
In June 2010 the volume of the Japanese import of frozen herring of the Russian origin amounted to only ca.50 tonnes, 95% down on May 2010 and 81% down on June 2009. Nevertheless, the total import through the first half of the year grew nearly by 21% to 4100 tonnes. The average import price in June 2010 amounted to 96 Yen per kilo (ca.1.05 USD per kilo), 17% up on May 2010 and even slightly up on June 2009, but the average indications for the period of six months declined nearly by 7% to only ca.85 Yen per kilo.
Import of Russian herring fillets in June 2010 went down by 40% on May 2010 to only 250 tonnes, 42% down on June 2009. Shipments through the first half of the year declined nearly by 1000 tonnes to slightly below 2000 tonnes. The average import price in June 2010 approximated the level of 400 Yen per kilo, but still failed to reach it and amounted to 390 Yen per kilo. At the same time, as compared to last year it turned out to be 5% lower and the average indications for January-June 2010 amounted to a little more than 365 Yen per kilo, 12% down on last year.
Japanese import of Russian herring roe in the current year showed a slack development. In June 2010 its volume was limited to only 2 tonnes, and the total volume of shipments through January-June 2010 amounted to only 10 tonnes (only salted products), 78% down on last year. The average import price in the first six months of the year decreased by 6% to only ca.620 Yen per kilo.
Cod species
Japanese import of frozen Russian pollock in June 2010 resumed with the shipments totaling nearly 340 tonnes or ca.60% of the total import volume through the half of the year (580 tonnes, 171% up on last year). The average import price in June 2010 amounted to ca.140 Yen per kilo (about 1.50 USD per kilo), and the average indications through January-June 2010 amounted to nearly 145 Yen per kilo, still 8% down on last year.
In June 2010 Japan imported only 24 tonnes of frozen Russian cod, 3 times down on May 2010. In the meantime, import of US cod amounted to only 7 tonnes. In January-June 2010 import of Russian cod grew by 118% to 1000 tonnes, and import from the USA decreased by 17% to less than 5300 tonnes. However, while the average price of imports from the USA in the first half of the year rose by 12% to ca.315 Yen per kilo, the average indications for shipments from Russia decreased by ca.4% to 240 Yen per kilo (in June 2010 the result was just the same, namely at the level of 2.60 USD per kilo). Market forecasters already said that the second half of the year could bring even more contrasting indices in the dynamics of import shipments from Alaska to Russia.
The volume of the official import of frozen Russian cod to China in June 2010 was limited to less than 5450 tonnes, 19.5% down on last year. The import volume through the first half of the year decreased by 33% to only 21,000 tonnes. The average import price in June 2010 leveled at 2.60 USD per kilo, 17.5% up on last year, and the average indications through the first half of the year grew nearly by 22% to 2.50 USD per kilo.
Bottomfish
The volume of the Chinese import of frozen Russian flounder in June 2010 amounted to ca.2800 tonnes, 412% up on last year, and the total import through the first half of the year jumped by 440% to ca.7600 tonnes. The average prices of June import was limited to less than 1.00 USD per kilo, 17% down on last year, while the average indications through the first half of the year amounted to ca.1.25 USD per kilo on a par with the last year result.
Chinese import of frozen Russian black halibut in January-June 2010 amounted to 950 tonnes, 12% up on last year, mostly thanks to a very high result of June which amounted to more than 150 tonnes versus less than 20 tonnes last year. The average import price in June 2010 amounted to only ca.1.90 USD per kilo, but last year it was even lower at only 1.10 USD per kilo. The average indications through the period under analysis rose by 28% on last year and reached the level of 2.30 USD per kilo.
Chinese import of Russian white halibut was not registered in June 2010, and shipments through the first six months of the year were limited to only 80 tonnes, 62% down on last year. At the same time, the average import price reached 6.55 USD per kilo, 436% up on last year.
Japanese import of frozen Russian halibut in June 2010 went down nearly by 10% on May 2010 but rose by 22% on June 2009 and amounted to ca.430 tonnes. The total result for the first six months of the year 2010 showed an 87.5% rise and made ca.2450 tonnes. The average import price in June 2010 amounted to 557 Yen per kilo, 6.5% down on last year (slightly up on the rise of Yen to USD exchange rate). The average result for the period of six months turned out to be slightly below 540 Yen per kilo, 9% down on last year.
Japanese import of frozen Russian flounder in June 2010 amounted to 130 tonnes, 128% up on May 2010 and 188% up on June 2009. Nevertheless, the total result for the year half went down by 19% even failing to reach the level of 700 tonnes. The average import price for the first six months of the year 2010 declined by 14% to slightly below 200 Yen per kilo, and in May and June 2010 it was even lower at 155-160 Yen per kilo. Japanese import of fresh flounder in June got suspended in June 2010, therefore the half year import still remained within 60 tonnes, 74% up on the import volume in the first half of 2009 and the average import price rose by 28.5% to 350 Yen per kilo.
Japanese import of frozen Russian Atka mackerel only in June 2010 exceeded the last year result by 74% to 1800 tonnes, and the import volume through the half of the year rose by 24% to 14,000 tonnes (last year the total import volume amounted to 21,500 tonnes and in 2008 it amounted to 20,000 tonnes). The average import price in June 2010 was slightly down on May 2010 (probably only due to a gradual rise of Yen exchange rate) and amounted to ca.230 Yen per kilo (2.50 USD per kilo), but at the same time it turned out to be 6.5% up on last year. The average indications through the period under analysis rose by 10.5% to 230 Yen per kilo.
Along with the above bottomfish species, in January-June 2010 Japan imported ca.1650 tonnes of frozen ocean perch of the Russian origin, but practically the whole volume (under some figures) was represented by products from the grounds in the Northwest Atlantic and not in the Far East. The import volume exceeded the last year result by 93.5%, and the average import price declined by only 5.5% to 340 Yen per kilo (in June 2010 it amounted to ca.380 Yen per kilo or 4.15 USD per kilo).
Pollock roe
In June 2010 Japan remained the main direction for frozen Russian roe export and exactly the same picture was with the results for the first half of the year. Such development could be attributed to a large rise of the needs of the Japanese processors in the Russian raw material in a situation when Alaskan products stepped back to the second position both in terms of volume and quality of supply.
Japanese import of Russian products in June 2010 went down by 26.5% through the month, but it was still only slightly below the level of 5000 tonnes. In general, through the first six months of the year it reached 21,400 tonnes, practically 7000 tonnes or 48.5% up on last year. The average import price in June 2010 amounted to ca.770 Yen per kilo (8.40 USD per kilo), 7% down on May 2010, but 2% up on June 2009. Nevertheless, as a result of the first half of the year it amounted to only 805 Yen per kilo, 8% down on last year, which greatly exceeded the rise of Yen to USD exchange rate.
South Korean import of Russian products in June 2010 amounted to only ca.260 tonnes, 64% down on May 2010 and 81% down on June 2009. In general, through the first half of the year it hardly failed to reach the level of 3000 tonnes, 23% down on last year. The average import price in the first half of the year was limited to only 7.00 USD per kilo, 2.6% down on last year, though in June 2010 when prices at which Russian products were cleared at customs showed stabilization, it was higher than last year nearly by 16% and amounted to ca.7.20 USD per kilo.
Chinese import of Russian raw fish mostly meant for production of processed and ready-to-eat products for the Japanese market was only limited to the level of 1500 tonnes through the first six months of the year, 14% down on the respective result last year. In June 2010 it turned out to be 89% down on last year and amounted to only ca.160 tonnes. However, presumably in case of declining activity of demand for the Russian raw fish from the Japanese users in the second half of the season, active shipments of such products for processing to China could definitely resume. The average import price in China in June 2010 amounted to only ca.4.50 USD per kilo, 46% down on last year, but the average indications through the first six months of the year declined only by 9% to ca.6.80 USD per kilo.
Therefore, the total import shipments of the Russian products in January-June 2010 to Japan, South Korea and China (three main directions) turned out to be close to the level of 26,000 tonnes and namely amounted to 25,800 tonnes. It actually displayed a 29.5% rise on last year, which was due to a large rise of production on the Okhotsk grounds in the course of winter-spring season. The average import price to those three directions ranged at 6.80-8.85 USD per kilo, while in the first half of 2009 the price range was slightly higher at ca.7.20-9.10 USD per kilo, however before the start of the season many Russian producers feared much stronger declined of prices.
Crabs
In June 2010 the total volume of the US import of frozen Russian crab amounted to only slightly above 1150 tonnes, 48.5% down on June 2009, but in general through the first half of the year import from Russia to the USA amounted to 7750 tonnes, 21% down on last year. At the same time, there were serious changes in the structure of shipments as import of frozen snow crab grew by 13% to more than 1900 tonnes, while import of king crab (red, blue and golden) declined nearly by 28% to 5800 tonnes. In June 2010 import of snow crab exceeded the import volume of red king crab and amounted to ca.590 tonnes versus 570 tonnes of king crab import.
Another important development was a fairly high level of average prices FAS or ex-transport vessel for June import of frozen snow crab of the Russian origin. More specifically, it amounted to 7.05 USD per kilo while in the previous months it rarely jumped even to the level of 6.00 USD per kilo. As compared with last year, the June result appeared to be nearly 9% higher, however the total result for the first half of the year was practically the same as last year and leveled at only 5.80 USD per kilo.
As for shipments of frozen king crab, the average prices in the first six months of the year grew but only by 2.5% or ca.0.40 USD per kilo and amounted to ca.16.95 USD per kilo (thus failing to reach even the level of 17.00 USD per kilo), though in April 2010 it was at the level of 18.00 USD per kilo and in June 2010 it exceeded 18.50 USD per kilo and in March 2010 it was close to 19.00 USD per kilo. At the same time, the June result turned out to be 37% or more than 3.00 USD per kilo higher than in 2009.
Last year prices for shipments of Russian products were very low during fairly long period of time (from June to October inclusive) when the average results failed to reach even 14.00 USD per kilo. In the current year such situation is not expected to repeat, therefore the total result for the whole year should be much higher than last year (15.65 USD per kilo).
Chinese import of Russian frozen products (shipments probably included both snow crab, red king crab and some other species) in June grew dramatically brisker with the supplies totaling ca.460 tonnes, nearly 290% up on May 2010. At the same time, as compared to last year, import increased by 11%, but that in no way influenced on the general situation with shipments which happened in the middle of the current year. In general, in the first half of the year the Chinese import from Russia went down by 49% to 1530 tonnes, and the average import price CIF declined by 38% to only ca.2.25 USD per kilo. In June 2010 the average indications amounted to only ca.2.15 USD per kilo, but the result was not record low in the current year (in January and April 2010 the results were even lower at ca.1.95 USD per kilo and ca.1.75 USD per kilo correspondingly).
Japanese import of frozen king crab of the Russian origin in June 2010 was limited only to 110 tonnes, 43% down on already low result of last year. The total import volume for the first six months of the year went down by 31% and failed to reach the level of 2000 tonnes. Import of frozen snow crab in June 2010 was only 7% below the last year result and amounted to ca.1850 tonnes, 352% up on May 2010. The total import volume of snow crab in January-June 2010 amounted to 3650 tonnes, 14% down on the respective result of last year.
The average price of frozen king crab import through the first half of the year rose by only 6% on last year and failed to reach the level of 1500 Yen per kilo, but in June it was already much higher and amounted to a little more than 1735 Yen per kilo (19.00 USD per kilo), 34% up on the last year result. The average import price of frozen snow crab in June 2010 turned out to be slightly below such in May 2010 and amounted to ca.915 Yen per kilo (10.00 USD per kilo), still 6% up on June 2009. However, the average indications through the first half of the year dropped by 3% to a little more than 845 Yen per kilo.
Japanese import of other frozen crab products of the Russian origin in January-June still remained within 15 tonnes, more than twice down on last year, and the average import price declined by more than 40% to less than 450 Yen per kilo.
Shipments of live fresh and chilled crab of the Russian origin to Japan in the first half of the year also decreased, though in June 2010 shipments of snow crab and hairy crab were much higher than last year, and the general activity of shipments was much higher than in May 2010. The import volume of king crab through the month jumped nearly four times and reached 360 tonnes, 38% down on June 2009. The total import volume in the first half of the year turned out to be 70% down on last year and amounted to 830 tonnes. Import of snow crab through the month rose nearly by 1000 tonnes to 2350 tonnes, 13% up on last year. The result for the first half of the year declined to a little more than 6000 tonnes, 36% down on last year. Import of live hairy crab through the month rose two times and reached 210 tonnes, 100 tonnes up on last year, and the total volume for the first half of the year rose nearly 72% to nearly 800 tonnes.
The average import price of live and fresh king crab in the first six months of the year rose by 66% to 870 Yen per kilo, but in June 2010 it was somewhat lower at ca.855 Yen per kilo (ca.9.40 USD per kilo). Nevertheless, as compared to last year the June result turned out to be 98% higher. The average price of snow crab import in January-June 2010 rose by 31% on last year to 430 Yen per kilo, but in June 2010 it was somewhat below 400 Yen per kilo, still displaying a 30% increase on last year.
The average import price of hairy crab in January-June 2010 remained practically unchanged at 680 Yen per kilo, but in June 2010 it was slightly below 560 Yen per kilo (ca.6.10 USD per kilo), 5% down on last year.
Shrimp
Japanese import of Russian products by the end of the first half of the year dramatically accelerated, but that did not result into a complete recovery of shipments to the last year level. In June 2010 import shipments totaled 920 tonnes, 60% up on May 2010 and 50% up on June 2009, however in general in the first half of the year import turned out to be below the last year result by 2.5% and amounted to ca.4400 tonnes. The average import price in the first half of the year was 17% below the last year result and amounted to ca.965 Yen per kilo, but in June it was limited to less than 915 Yen per kilo (ca.10.00 USD per kilo), 29% down on last year.
Squid
In June 2010 Chinese import of Russian frozen squid was much higher than in the previous months of the year, but still the volumes remained quite limited as compared with the results on shipments from such main sources as Japan, North and South Koreas, the USA and Peru. June import amounted to ca.50 tonnes, 40% up on last year, but the total import volume through the first half of the year amounted to ca.60 tonnes, 93% down on last year. The average import price in June amounted to 0.62 USD per kilo, 13% down on last year, and the average indications for the year half amounted to 0.73 USD per kilo, 4% up on last year.
Sea urchin
Japanese import of live sea urchins in June 2010 also grew brisker with shipments totaling nearly 1100 tonnes, 38% up on May 2010 and 11% up on June 2009, but the import volume through the first half of the year declined by 5.5% to 5500 tonnes. The average import price in June 2010 descended to 507 Yen per kilo (5.55 USD per kilo), 6% down on May 2010, however as compared to last year it turned out to be 5% higher, and the average indications through January-June rose by 12% to ca.575 Yen per kilo.
Surimi
The volume of the Japanese import of frozen pollock surimi from Russia in June 2010 turned out to be 160% higher than last year and amounted to 60 tonnes. The total shipments in January-June 2010 reached the level of 600 tonnes, 336% up on the respective result of 2009. The average import price CIF in the first half of the year amounted to 235 Yen per kilo, 48% down on last year, and in June 2010 it amounted to 250 Yen per kilo (ca.2.75 USD per kilo), 41% down on last year.