Overview of seafood exports from the Russian Far East in December 2008
In December 2008 the rates of export shipments of the Russian producers were not active due to off-seasons on most of the grounds. However for particular positions, including sockeye, pollock roe and several bottomfish species Russia's export to the most important markets remained fairly quick. In the meantime, the market participants started to focus on the new season of Okhotsk pollock fishery. Therefore, very weak results of the Chinese import of Russian pollock and readiness of the Russian producers to limit the pollock roe yield in combination with mandatory customs clearance of EEZ's catch at home ports made the prospects for shipments of the Russian products fairly vague. In the meantime, larger fishing quotas should have resulted into a rise of export shipments and dramatic weakening of the RUB exchange rate provided increased attractiveness of export sales, according to the overview prepared by analysts of http://www.fishnet-russia.com/ (https://www.fishnet.ru/) based on Japanese and Russian sources.
Roe
In December 2008 the total volume of frozen pollock roe made in Russia and imported to the markets of Japan, South Korea and China rose by approximately 10% on November 2008 and reached 600 tonnes, However, as compared to December 2007 it decreased nearly by 45%. Nevertheless, the total volume of shipments in the above directions (making up practically 100% of the export volumes) rose by 3700 tonnes or 16% to more than 27,200 tonnes, but the situation on each particular market was mixed as the volume of direct shipments to Japan increased by 62% to 19,800 tonnes, while shipments to the South Korea and China declined. The decrease was reported especially for the Chinese import, the volume of which was limited to 4200 tonnes, 40% or 2900 tonnes down on the corresponding result of 2007. Import to the South Korea went down by more than 1000 tonnes or 24% to less than 3200 tonnes.
The average price of the Japanese import rose by 18% or 190 Yen per kilo on the same result of 2007 and amounted to more than 1255 Yen per kilo while in April-July when the exporters shipped the largest volumes of pollock roe the prices approached the level of 1300 Yen per kilo. The average price of Russian pollock roe exported to the South Korea, the market of which was still not ready to work with high quality and expensive raw fish, jumped by 1.20 USD per kilo or 16% to ca.8.80 USD per kilo CIF. In the fourth quarter of the year 2008 the average price was considerably higher actually peaking at 10.00 USD per kilo. As for Chinese imports, which were greatly influenced by the Japanese participants of the auctions in Pusan, it rose approximately by 2.80 USD per kilo or 34% to ca.11.15 USD per kilo. In the event of dramatic decrease of production in Alaska and successful containment of the production growth in the Sea of Okhotsk the Russian producers could count on a further increase of prices as, even despite large inventories of raw fish and semi-finished products and slower sales of salted roe and other processed roe products, the Japanese users would hardly be able to ignore the fact of considerable decline of frozen raw fish supply from the fishing season of 2009 which could result into a repeated decrease of shipments to the South Korea (mostly due to weakening Won) and for processing to China.
Russia's shipments of herring roe to Japan in December 2008 were very slow and the total volume of import of frozen and salted products amounted to only 40 tonnes, 100 tonnes down on the result of December 2007 and more than 100 tonnes down on the result of November 2008. However, in December 2008 for the first time during the year the fishermen reported shipments of frozen roe though the volume was as low as a little more than 10 tonnes. The average import price was very low at less than 240 Yen per kilo versus approximately 290 Yen per kilo in 2007, when the import volume was recorded at only 5 tonnes. Importation of salted roe grew by 17% to only 600 tonnes, while the average import price rose by 11% or nearly by 100 Yen per kilo to 965 Yen per kilo.
Import of processed Russian salmon roe to Japan in 2008 was limited only to 4 tonnes of salted roe in skeins which was however two times larger than the result of 2007. The average import price decreased to from 3000 Yen per kilo to less than 1950 Yen per kilo. Shipments of sieved salmon roe were not recorded again, while sales of frozen roe rose by approximately 10% to 1100 tonnes, of which ca.800 tonnes were imported in November 2008 (ca.600 tonnes) and December 2008 (more than 200 tonnes), when the average import price amounted to 2700-2800 Yen per kilo, or more than 27.00 USD per kilo. However, the average price for the year did not reach 2000 Yen per kilo, 3% down on the corresponding result of 2007.
Salmon
In December 2008 the Japanese import of frozen sockeye of the Russian origin speeded up which was connected with the users' preparation to the turn of the year sales of salted products. The volume of shipments amounted to ca.800 tonnes, more than 20% up on November 2008 and slightly up on December 2007. However, in the twelve months of the year import decreased by 3000 tonnes or 12% to 22,500 tonnes. The average import price slightly decreased to 480 Yen per kilo, thus nearly completely matching the result of December 2007. The average price for the whole period remained practically unchanged at ca.525 Yen per kilo.
Shipments of frozen Russian coho salmon also continued in December 2008 (unlike December 2007), but their volumes were very low at less than 20 tonnes. In general through the period their volume decreased nearly by 20% to less than 600 tonnes. Shipments of other salmon species (mostly chum salmon and partly Chinook salmon) were not recorded just like in December 2007, but the total import volume of the species through the year 2008 grew by 23% to ca.3200 tonnes. The average import price decreased by more than 15% and declined below the level of 300 Yen per kilo, while the average import price of coho salmon remained practically unchanged at ca.320 Yen per kilo.
The total volume of the Japanese import was thus limited to less than 26,500 tonnes, 2500 tonnes or 9% down, while the total volume of the Chinese import amounted to ca.25,400 tonnes, ca.3400 tonnes or 15.5% up, but if the sockeye import (less possible shipments via Japan the volume of which is estimated at ca.5000 tonnes) grew by 76% to 1600 tonnes, shipments of other fish (mostly chum salmon and pink salmon) were limited to 23,700 tonnes, 13% up. Nevertheless, even such a big rise could be regarded as fairly large because against the background of a dramatic decrease of pink salmon catches the shipments could be expected to decrease further (in 2007 import went down by 57% to 21,000 tonnes). The average price of the Chinese import in the course of the year declined by approximately 4.5% to less than 1.90 USD per kilo (for sockeye shipments it was even lower at only 1.50 USD per kilo). In the meantime, in December 2008 the average indications were below 1.65 USD per kilo, 0.30 USD down, but the volume of December import jumped more than three times on December 2007 and amounted to 3860 tonnes.
Herring
The Japanese import of frozen herring of the Russian origin in December 2008 developed much more actively than in November 2008 and the total volume of shipments exceeded 400 tonnes, more than 1000 tonnes down on December 2007. Still, the total volume of import through the year 2008 rose by 2200 tonnes or by 37% to ca.8100 tonnes. The average import price during the year increased by 6.5% to 130 Yen per kilo, but in December 2008 it was limited to the level of 100 Yen per kilo, ca.40 Yen per kilo down on December 2007.
The activity of shipments of Russian herring fillets (mostly of the Chinese production) also increased, the volume of shipments in December 2008 reached 850 tonnes, 17% up on November 2008 and nearly 2% up on December 2007. In general, in the year 2008 the shipments rose by 2100 tonnes or 37.5% (for production of the above volume of fillets the processors used ca.20,000-22,000 tonnes of frozen herring). The average import price rose by 7.5%, but it did not reach 400 Yen per kilo, though in November 2008 it leveled at 430 Yen per kilo and in December 2008 it exceeded 485 Yen per kilo.
Pollock and cod
The Japanese import of frozen pollock harvested by the Russian fishermen in the twelve months of 2008 increased by 16%, but it was still somewhat lower than 1000 tonnes (of which ca.300 tonnes were shipped in November and December 2008). The average import price increased by nearly 8% but it did not reach 170 Yen per kilo, though in November and December 2008 it ranged from 170 to 175 Yen per kilo. Import of frozen Russian cod to Japan in the closing two months of the year 2008 developed fairly stably with the volume of shipments amounting to 600 tonnes, considerably up on 2007 and the import volume in the year grew by 77.5% to ca.2930 tonnes, but the average import price decreased by 10% to 450 Yen per kilo, in the end of the year prices went down decreasing to 400 Yen per kilo in November 2008 and to 370 Yen per kilo in December 2008.
The Chinese import of Russian raw fish (pollock, cod, longfin codling Laemonema and other species) in the second half of the year began slowing down again, and in December 2008 the Russian exporters shipped less than 5000 tonnes, 80% down on December 2007, and that became one of the lowest monthly indices for the recent years. The total volume of shipments for the year amounted to only 243,800 tonnes, 29% down on 2007. The average import price practically unchanged and amounted to a little more than 1.95 USD per kilo, but in December 2008 it was at the level of 2.80 USD per kilo, nearly 1.10 USD per kilo or 65% up on 2007, which could be indicative of a considerable expansion of the share of cod harvested by trawl and other gear in the total volume of import of the Russian raw fish. However, in the first half of the year 2009 activity of shipments is expected to grow as the dramatic decrease of the exchange rate of RUB to USD resulted into rising attractiveness of export sales.
The Japanese import of pollock-based surimi of the Russian origin in November and December 2009 developed by one container per month, and by the end of the year it totaled ca.330 tonnes versus zero amounts in 2005-2007. The average import price amounted to ca.480 Yen per kilo, but in the end of the year the dynamics was negative and in December 2008 it made only a little less than 425 Yen per kilo. Shipments to the South Korea were not recorded in December 2008 and the total volume shipped in the twelve months of 2009 amounted to ca.450 tonnes, while in the recent several years such shipments were not observed at all. The average price of the South Korean import was limited to the level of 3.20 USD per kilo versus more than 3.85 USD per kilo for US shipments.
Bottomfish
The Japanese import of frozen halibut (two commercial species) of the Russian origin in December 2008 grew somewhat quicker with the volume reaching 460 tonnes, 81.5% up on December 2007. In general, last year import grew by 29% on 2007. The average import price both in December 2008 and in general in 2008 was limited to 650 Yen per kilo, 3.3% up on the annual figure of 2007, which was below 630 Yen per kilo. The Chinese import of white halibut of the Russian origin grew by 4.4% through the year and amounted to ca.1100 tonnes, while import of black halibut went down by 14.5% to ca.1830 tonnes. In December 2008 the total import of Russian black halibut to China amounted to less than 200 tonnes, 80% down on 2007. The average import price of white halibut through the year made a little more than 2.90 USD per kilo, 9% down on 2007, while the average indications for black halibut rose by the same 9% to 2.80 USD per kilo.
The Japanese import of fresh flounder of the Russian origin in November and December 2008 developed at a rate of 400 tonnes, while in general for the twelve months of the year it decreased more than 7 times to only 2000 tonnes. The average import price rose only by 2% to less than 1670 Yen per kilo. Import of frozen flounder in November and December 2008 was limited to 90 tonnes only and since the beginning of the year the Japanese importers received less than 2700 tonnes of Russian flounder, twice down on the respective result of 2007, but the average import price amounted to only 290 Yen per kilo, 13% down on the same result of 2007. The Chinese import of the Russian products in December 2008 amounted to only 640 tonnes, 40% down on December 2007, while in January-December 2008 it was limited to 17,700 tonnes, 48% down on 2007. Even despite such a considerable decrease of shipments the average import prices remained practically within 1.20 USD per kilo.
Progressing of the Japanese import of ocean perch from Russia in December 2008 started slowing down and the volume imported in the course of the month amounted to onlу ca.260 tonnes, 200 tonnes down on November 2008 and nearly twice down on December 2007. In general in 2008 the Japanese traders imported 5050 tonnes of the Russian product with decrease on 2007 exceeding 20%. The average import price for the year amounted to ca.395 Yen per kilo, 5% up on 2007, but in December 2008 it was much higher at ca.425 Yen per kilo.
Importation of Atka mackerel in December 2008 got dramatically boosted and the volume of shipments tripled the result of the previous month and amounted to ca.2500 tonnes, 1000 tonnes up on December 2007. However the result for the whole year 2008 decreased by 500 tonnes failing to reach 20,000 tonnes. The average import price increased by 25.5%, but it was still below 200 Yen per kilo. However, in November 2008 and December 2008 it settled at 225-230 Yen per kilo, which was attributed mostly to increased exchange rate of Yen.
Squid
The Chinese import of frozen squid of the Russian origin in 2008 grew by 140% or nearly 1000 tonnes to ca.1600 tonnes. However, as compared to the result of 2006, when the importers purchased more than 10,000 tonnes of squid, the above result could not be regarded more or less good, moreover the average import price was limited to only 0.50 USD per kilo, more than 20% down on 2007 and more than 40% down on 2006.
Sea urchin
In December 2008 the Japanese import of sea urchin shipments dramatically increased and import volume reached the level of 1700 tonnes, 30% up on November 2008, but 10% down on December 2007. The decrease of the Russian shipments was in line with the general trend of 2008 and import to Japan went down by 16% to 11,900 tonnes. The average import price in 2008 jumped by 13% to 560 Yen per kilo, but in November 2008 it was nearly 100 Yen per kilo down, and in December 2008 it amounted to only 554 Yen per kilo.
Shrimp
The Japanese import of frozen shrimp of the Russian origin in December 2008 was brisker than in the previous month and the volume of shipments consisting mostly of raw frozen pink shrimp Pandalus borealis increased by 60% and reached 800 tonnes, however as compared to December 2007 it went down nearly by 30%. And in general through the period it went down by 12.5% to less than 7800 tonnes. The average import prices in November 2008 and December 2008 leveled at 1450-1460 Yen per kilo, more than 23% up on the respective figures of 2007 and in general through the period it amounted to 1265 Yen per kilo, 16 % up on 2007.
Crabs
The Chinese import of frozen crabs (all species) of the Russian origin in December 2008 also developed much more slowly than in 2007. More specifically, through the month the Chinese importers cleared at customs only 450 tonnes of crabs, nearly four times down on December 2007. The total result for the year 2008 did not reach the level of 7000 tonnes, practically 40% down on 2007, which was first of all attributed to smaller shipments of frozen king crab (red, blue and golden). However, in those conditions the average import price did not go up and amounted to less than 2.80 USD per kilo, though in December 2008 it was much higher at ca.3.30 USD per kilo or more than 30% up on December 2007.
The US import of frozen Russian king crab developed in December 2008 very actively for the second half of the year and for first time in the year the shipments surpassed the results of 2007. The volume of shipments rose by 70% on November 2008 and reached 2200 tonnes, 3.5% up on the result of December 2007. However, in general for the year the volume of the Russian shipments went down nearly by 50% to 14,200 tonnes. The average import price in the course of the year jumped by 40% to 16.70 USD per kilo, while in December 2008 the indications were lower at 16.60 USD per kilo.
Import of frozen snow crab of the Russian origin to the USA in December 2008 was limited to merely 100 tonnes, twice down on the level of December 2007, while the total volume of annual shipments came down by 15% to less than 4400 tonnes. However, the average import price did not rise, but decreased, though by less than 6%, to ca.6.30 USD per kilo. In December 2008 it was even lower at 4.70 USD per kilo FAS or ex-vessel.
Unlike the situation with shipments to the US market mostly keen on Canadian opilio crab, shipments of frozen snow crab of the Russian origin to Japan in December 2008 developed fairly briskly. The total import volume rose on November 2008 by 20% to 1250 tonnes, which was practically 140% up on the result of December 2007. The total volume of shipments through the year increased approximately by 250 tonnes to ca.13,300 tonnes thanks to larger activity in December. The average import price for the whole year remained practically at the level of 2007 amounting to ca.1120 Yen per kilo CIF. In November and December 2008 the indications were ca.50 Yen per kilo down.
The volume of shipments of frozen king crab (mostly red) to Japan in 2008 was again greatly inferior to the respective result for the USA despite all problems with one of the largest (the largest one, according to some sources) producers with close links to the US market. The Japanese import in December 2008 went down nearly to 1120 tonnes, 20% down on November 2008 and practically 30% down on December 2007. The total volume of imports through the twelve months of 2008 was limited to 9350 tonnes, 20% down on 2007.
The measures taken by the Russian authorities towards stricter control of crab fishery in the waters of the west coast of Kamchatka have already brought fruits in the form of declining fishing pressure on the stocks in the area important for the Russian fishery industry. The main markets even in their bad days of the economic crisis have reacted to the dramatic worsening of the supply by price growth. More specifically, the average price of the Japanese import increased nearly by 35% to ca.1800 Yen per kilo, however in December 2008 the prices were much smaller at ca.1625 Yen per kilo, 15% down on 1900 Yen per kilo in November 2008, but still less than 2% up on December 2007 (probably due to worse species structure of the shipments in a situation of dwindling shipments of red king crab harvested in the waters of West Kamchatka).
Shipments of crab meat of the Russian origin to Japan in November 2008 and December 2008 developed not very actively. Through the above two months the traders imported a little more than 50 tonnes, while in 2007 only in December the customs cleared 45 tonnes of crab meat. The total volume of import in 2008 went down by more than 40% to less than 100 tonnes. But December 2008 was remarkable for a dramatic rise of the average import price from 1600 Yen per kilo in November 2008 to practically 2700 Yen per kilo, thus jumping by more than 12.00 USD per kilo. However, in December 2007 it was even higher at 2800 Yen per kilo. In January-December 2008 the average import price amounted to approximately 2080 Yen per kilo, nearly 15% down on 2007.
The Japanese import of live Russian crab to Japan in December 2008 was more active than in November 2008, but only due to shipments of snow crab and as for other species the import rates were not high. The volume of December shipments of live red king crab (partly blue king crab) went down practically by 22% to less than 420 tonnes, 600 tonnes or practically 60% down on the respective result of December 2007. The total volume of annual shipments was limited to only 5700 tonnes, practically 25% down on 2007. The average import price rose by merely 10 Yen per kilo to 740 Yen per kilo. In December 2008 it was considerably higher at ca.875 Yen per kilo, but as compared to November 2008 it decreased by 18% and as compared to December 2007 it also declined, though by 3%.
The volume of shipments of the Russian live snow crab (mostly opilio, but partly bairdi and other species) in December 2008 rose by more than 40% on November 2008 to 2100 tonnes, though more than 11% down on December 2007. The total shipments for the year 2008 also decreased by 8% to 24,400 tonnes imported at the average price of 385 Yen per kilo, approximately 10 Yen per kilo down on the result of 2007. In December 2008 the average indications amounted to ca.375 Yen per kilo, 12-13% up on November 2008 and December 2007.
The volume of shipments of live hairy crab of the Russian origin to Japan in December 2008 went down by nearly 15% as compared to November 2008 and amounted to less than 170 tonnes, 17% down on December 2007. The total volume of shipments for January-December 2008 amounted to ca.2470 tonnes, only 4.5% down, thus showing stronger stability as compared to shipments of king crab and snow crab. The average import price for the year 2008 decreased by more than 100 Yen per kilo to less than 650 Yen per kilo. However, both in November and in December 2008 it was much higher at ca.935 Yen per kilo and 1080 Yen per kilo correspondingly (the December indication was only several yens down on December 2007).
Shipments of other crabs of the Russian origin in large volumes were not recorded by the customs.