Overview of seafood exports from the Russian Far East in February 2010

Low season in supply of main fish species from the Russian Far East usually come to an end in February followed by the beginning of import of products from the Okhotsk and Bering trawl fisheries of the new season, according to the overview prepared by analysts of www.megafishnet.com  (www.fishnet.ru ) based on Japanese and Russian sources.

The A season of Alaska pollock fishery in the Sea of Okhotsk had an active start from the first days of January 2010 what had to be reflected on figures for Alaska pollock and APO roe import to main directions, but the figures stayed rather moderate as well as main figures of other products supply (supplies of frozen cod, frozen perch to Japan, halibut to Japan and China and frozen flounder to China were the exceptions).

General import activity of Russian shipments to main directions in February 2010 stayed at relatively low level rising only in March when importation of frozen APO roe of the new season began.

Prospects of import of Russian live crab to Japan are worth noticing, as February supplies (to rely on official data) were quite scarce what was presumably affected by UUU-fishing agreements achieved earlier.

Salmon

In February 2010 Japanese buyers imported only 18 tonnes (almost one container) of Russian sockeye salmon, considerably down from 150 tonnes imported in 2009. In January-February 2010 less than 40 tonnes of salmon were imported against 1200 tonnes in the year 2009. The prices stayed at surprising levels and if last year the prices mainly amounted to Y500.00 per kilo, in current February the average import price achieved the level of Y900.00 per kilo (CIF) while the general price in the first two months of 2010 exceeded Y885.00 (USD9.80) per kilo. Notably, it is too high price for products of fixed seine coastal fishery but the Russian fishermen did not operate last year so the situation has stayed unclear.

Less than 10 tonnes of chum salmon, coho salmon were imported from Russia in January-February 2010 that almost corresponds to last year figures, in February neither chum nor coho nor any other salmon species were reported to be supplied from Russia. The average import price stayed at unusually high level of Y500.00 per kilo against less than Y200.00 in the previous year.

Salmon roe

In February 2010 import of frozen Russian products to Japan was not reported that is why general figures for two months 2010 stayed at the level of a bit less than 500 tonnes, almost 11% up from January-February 2009 level, though in February 2009 more than 250 tonnes were imported. Average import price in the current year season amounted to less than Y1,100.00 per kilo, while last year it exceeded Y1,650.00 level (in February 2009 the price decreased to Y1,440.00 per kilo).

Import of processed products amounted to only 6 tonnes of salted sieved roe while in 2009 it was not reported at all. Average import price declared at customs already in January amounted to ca. Y2040.00 per kilo.

APO roe

February supplies of Russian raw materials to Japan appeared to exceed January levels by 300 tonnes amounting to ca.550 tonnes but at the same time by 7% down from the last year level. Totally, in January - February 2010 Japanese buyers imported 800 tonnes of APO roe of Russian origin, decreasing from the previous year level by almost 40%.

Average import price in February 2010 decreased sharply to Y925.00 per kilo in comparison with Y1265.00 per kilo in January 2010. In comparison with February 2009 the price declined by 13% though at the expense of high results in January 2010 average import price in January-February 2010 exceeded the previous year level by nearly 2% amounting to Y1030.00 per kilo.

Importation to South Korea dropped sharply though in the previous five months it was actively stable (taking into account usual figures for the period after finishing of the main phase of seasonal supplies). Import volume in February 2010 amounted to only 150 tonnes, 37% down from January level but 37% up from February 2009 level when the period of product supply of the season 2008 was coming to an end. The general tendency of 2009 persisted and within the tendency, the supply volume of Russian products of 2009 season to South Korea increased more than twice breaking the record of the last years of 6000 tonnes while importation to Japan (direct supplies) decreased by almost one quarter to 15,500 tonnes.

Average import price to South Korea amounted to a bit more than USD7.35 per kilo (CIF) in February 2010, down by 17.5% or by USD1.65 per kilo from January level. In comparison with last year period it came to decrease by 30.5% or by USD3.20 per kilo that is why the price trends of the last season also stayed practically unchanged.

Chinese import volume of frozen roe and other insides increased by 125% from January 2010 level amounting to ca.270 tonnes.

Market specialists still think that major part of the import is contributed by Alaska pollock roe, and taking into consideration the general situation of supply distribution of Russian raw materials in main directions, it would be possible to omit relatively small volumes of import of liver, stomachs, milts etc.). From this point of view, the volume of Chinese import of Russian frozen APO roe of season 2009 decreased by 10% to 3,650 tonnes in comparison with import volumes of season 2008 products, so in last two years Russian supplies of salted and other processed APO roe to Chinese producers processing for the Japanese market dropped by 45%.

It is considered to be a result of decreasing interest in Chinese products from a number of retailers after cases of food poisoning at the beginning of the year 2008.

Average import price to China in February 2010 amounted to less than USD6.20 (CIF) though in February 2009 it was even less amounting to ca. USD3.90 per kilo. Average figures of 2010 decreased by 25% or more than USD2.00 per kilo in comparison with the year 2009 that in its turn underpassed the results of 2008 year by more 26% amounting to USD8.25 per kilo. Thus, general price situation before the beginning of the new supply season in main directions was not quite satisfactory for Russian producers. This, in couple with expectations of high production level in the Sea of Okhotsk in 2010, gave rise to serious anticipations of further price decreases. However, as the first rounds of Pusan auctions showed, where more than 10,000 tonnes of raw materials of the new season had been sold, the prices have not decreased yet staying mainly at USD7.00 - 10.00 per kilo level that practically corresponds to the previous year results (general limits of average import prices were indicated by import results to South Korea in 2009 at USD7.10 per kilo and import results to Japan at USD9.50 per kilo).

Herring roe

Japan did not import Russian frozen product in February 2010, import of salted roe of Russian origin amounted to only 3 tonnes while last year they did not import salted roe at all. Average import price amounted to only about Y370.00 per kilo while in January it surprisingly amounted nearly to Y11,200.00 per kilo (import volume amounted to only 100 kg) driving the total price figures for first two months of the year to the level of a bit more than Y585.00 per kilo.

Herring

Japanese import of Russian frozen herring sharply increased in February 2010 with customs clearing more than 2,100 tonnes of products, approximately 8 times up from January 2010 and nearly 5 times up from last year figures. Totally, in first two months 2010 import volume grew by only 10% amounting to 2,400 tonnes.

Average import price in February 2010 amounted to Y85.00 per kilo, 10.5% up from January 2010 but 19% down from February 2009. The price amounted to only Y83.00 per kilo for the period decreasing by 10%.

Import of Russian herring fillet (mainly of Chinese origin) in February 2010 dropped by 7.5% to ca.380 tonnes in comparison with January 2010, while in February 2009 the import amounted even less to ca.310 tonne. In a whole, from 1 January 2010 Japan imported less than 790 tonnes, 30% down from the previous year level.

Average import price decreased by 15% to Y325.00 per kilo in February 2010, Y100.00 per kilo less from the previous year level. The price amounted to Y355.00 per kilo for the period, decreasing by 12% in comparison with the previous year level.

Capelin

No import of capelin from Russia to Japan was reported in February 2010 and total figures of the current year have not exceeded the level of less than 40 tonnes imported in January 2010. Average import price amounted to about Y230.00 per kilo, down 60% from the previous year level.

Cod

Japanese import of Russian Alaska pollock in February 2010 amounted to just several tonnes and the average import price amounted to ca. Y235.00 per kilo. In January - February 2010 the import reached about 200 tonnes, 7.5% down in comparison with last year figures. Average import price stayed at Y150.00 per kilo, decreasing a little bit.

Japanese import of Russia-produced frozen cod in February 2010 decreased almost twice to ca.220 tonnes in comparison with January 2010 but grew by more than 35% in comparison with last year figures. Japanese import increased more than 3 times to 630 tonnes in January-February 2010 while import of American products stayed at the last year level amounting to 2840 tonnes. Average import price amounted to ca.Y250.00 per kilo in February 2010 staying at the level of January-February 2009 while the price for supplies from USA increased by more than 10% to Y320.00 per kilo.

Probably, this difference in price tendencies occurred to be one of the main reasons of such sharp growth of Japanese import of Russian raw material. In the year 2009 importation from Russia increased by 12% amounting to 3,300 tonnes and this tendency continued in first two months 2010 while further prospects are still vague.

Chinese import of cod products usually including such species as Alaska pollock, cod, longfing codling and other species (including grenadier) has continued to be surprisingly low in volume and relatively high in average import price. Obviously, supplies of Russian pollock have been excluded from the product category yet, while 3 years ago they were there.

Import volume from Russia in February 2010 amounted to almost 3,600 tonnes, 110% up from January 2010 but 23% down from the previous year level while total import in January-February 2010 decreased by 45% to 5,300 tonnes.

Average import price in February increased to USD2.50 per kilo that is 12% more from February 2009 level. In January-February 2010 the price grew by 16% to ca. USD2.40 per kilo. Such level of prices is typical for supplies of cod but not Alaska pollock.

Groundfish

Japanese import of frozen halibut of Russian origin (excluding arrowtooth halibut) in February 2010 increased more than 2.5 times to about 550 tonnes, 10 times up from February level and more than 100% up from January - February level reaching practically 700 tonnes.

Average import price in February 2010 decreased by 3% staying at a bit more than Y515.00 per kilo level, 11.5% down from February 2009 level. The decrease in January-February level amounted to 14% to Y520.00 per kilo.

China imported about 100 tonnes of Russian halibut in February 2010 (it was reported to be represented by black halibut only), only 12% up from February 2009 level, however, in January-February 2010 Chinese import from Russia increased by almost 120% to 2770 tonnes. Average import price in February 2010 was a bit lower of January 2010 level but kept at the level of USD2.00 per kilo. The price in January-February 2010 amounted to USD2.35 per kilo, about USD0.50 or 17% down from the previous year level.

Import of frozen flounder of Russian origin to China amounted to almost 1,500 tonnes practically three times up in comparison with January 2010. Import grew almost 5 times in comparison with 2009 figures while in January-February it reached the level of about 2000 tonnes and Chinese import of Russian flounder also increased by 400%, while, according to all other sources, due to weak supply from USA it decreased by nearly 500 tonnes to 6,000 tonnes. Average import price of Russian products in February 2010 reached the level of USD1.00 per kilo dropping by almost 35% in comparison with January 2010, however the price for January - February 2010 period appeared to surpass USD1.30 per kilo level, almost USD0.30 up from the previous year level.

Japanese import of Russian flounder in February 2010 did not step 40 tonnes level, but import of frozen products dropped 8 times in comparison with the previous year level while import of fresh products grew sharply. Average import price of frozen products since January 2010 amounted to Y200.00 per kilo, decreasing by 20% while the price of fresh flounder supply grew by more than 80% to almost Y500.00 per kilo.

Japanese import of ocean perch (mainly of North Atlantic fisheries) from Russia grew by 60% in February 2010 to ca.420 tonnes in comparison with January 2010, while in January - February 2010 import amounted to 670 tonnes, 33% up in comparison with 2009 level. Average import price in February 2010 decreased by 5% to Y335.00 per kilo so that the general figure of January-February 2010 amounted to only ca.Y345.00 per kilo vs Y360.00 per kilo in the same period 2009.

Japanese import of Atka mackerel in February 2010 amounted to about 2,000 tonnes decreasing by 27% from the previous year level, from January to February 2010 they imported 3,950 tonnes, 14% down from the same period of the previous year while in a whole, in 2009 import increased by 8% to 2,150 tonnes. Average import price in February 2010 did not change much amounting to about Y235.00 per kilo and reaching Y230,00 per kilo level in January-February 2010 period, almost 21% up in comparison with last year results.

Squid

There were still no supplies of Russian squid imported either to Japan or to China, though last February nearly 500 tonnes of squid were imported at the average price of USD0.65 per kilo (more than 550 tonnes were imported during January-February 2010).

Shrimp

Japanese import of Russian shrimp, mainly coldwater shrimp grew in February by 29% to 580 tonnes in comparison with January 2010 but there was practically no growth in comparison with 2009 results. Due to relatively weak results of January 2010, total import in first two months of the year amounted to only 1,030 tonnes, a decrease of more than 10% from 2009 figures. Average import price in February 2010 rose by 22.5% to ca.Y1020.00 per kilo (USD11.25 per kilo) while in February 2009 it was 20% higher (by ca.Y200.00 per kilo) while general figure in January-February amounted to only Y940.00 per kilo, Y235.00 down from the previous year of more than Y1200.00 per kilo level.

Crabs

Activeness of Japanese buyers of Russian live crabs came to extremely low levels in February 2010. Namely, only about 160 tonnes of Russian products were officially cleared up at customs, 83% down from January 2010 level and 77% down from February 2009 level.

It is however worth noticing that contrary to general tendency import of hairy crab increased to almost 100 tonnes, 205% up from January 2010 level and 40% up from the previous year figures. Consequently, the prices skyrocketed and the average import price of live hairy crab did not step up the level of Y1000.00 per kilo while the price of red king crab reached Y1200.00 per kilo jumping by almost Y500.00 in a month time losing only to an average price of frozen products. While in case of snow crab supplies which import volume dived more than 15 times in a month period amounting only to ca. 40 tonnes the price hit the record of Y1000.00, almost 160% up from January level.

Japanese import of Russian frozen crab was not so dramatic though the volumes of supplies also decreased. Import of frozen red king crab (red, blue, golden king) dropped by 30% in February in comparison with January 2010 level and amounted to 340 tonnes, while its total volume in first two months 2010 amounted to only 830 tonnes, 54% down from the previous year. Average import price in this period amounted to ca. Y1330.00 per kilo, 3% down from the last year results, but in February it was considerably higher amounting to more than Y1,375.00 per kilo.

Import of frozen golden king crab of Russian origin to Japan amounted to about 280 tonnes, 38% down in comparison with January 2010. In January-February they imported about 730 tonnes that is 12% up on the same period of 2009 level. Average import price reached the level of only Y640.00 per kilo, 32% down in comparison with last year figures but in February it was 3% lower than the previous year level and amounted to only Y665.00 per kilo.

There was no frozen hairy crab of Russian origin imported to Japan in January-February 2010 while the import volume of other crab species in first two months of the current year amounted to about 15 tonnes (at an average import price of a bit less than Y450.00 per kilo).

Import of frozen crab of Russian origin to the USA was more active though also decreased in comparison with last year figures that can prove both the idea of further depletion of fishing stocks and better results of anti-UUU-fishing measures.

Import of red king crab in February 2010 amounted to 120 tonnes, 25% down in comparison with last year figures while for the period of January-February it descended by 17% to 2770 tonnes. Despite volume supplies fall average import price in February 2010 did not come to USD16.00 per kilo level (FAS terms or ex-vessel) appearing to be lower than the previous year level by 6.5%, decreasing by nearly 6-7% or by USD1.00 in comparison with January-February level and amounting to ca. USD15.40 per kilo (probably due to lack of supply of the products from the Barents Sea).

Import of frozen snow crab of Russian production to the USA amounted to ca.240 tonnes in February 2010, 69% up from February 2009 while import volume for the first two months fell by 5% to ca.450 tonnes. Average import price for the period amounted to about USD5.25 per kilo, a decrease 14% from the year 2009. In February 2010 the price reached the level of USD5.30, 9.5% down from the previous year results.

Chinese import of Russian frozen crab amounted to ca.260 tonnes in current February, 36.5% down from the year 2009. Import volume in January-February 2010 decreased by 26% to nearly 520 tonnes. Average import price stayed extremely low at the level of about USD2.25 per kilo in first two months of the year, 15% down in comparison with the previous year results. Growing to almost USD2.55 per kilo in February 2010 it still came to be lower of the previous year results by 21%.

Sea urchin

Import of live sea urchin to Japan in February 2010 increased by 32% to 920 tonnes, approximately 100 tonnes up in comparison with February 2009. In January-February 2010 1,620 tonnes were imported that is by 14% or 200 tonnes more on the same period of the previous year. Average import price sharply declined in February to only Y570.00 per kilo, 22.5% down from the January 2010 but 20.5% up from the previous year level. However, total result in January-February amounted to Y640.00 per kilo, only 9% up from the previous year.

Surimi

After several months' break Japan continued to import Russian surimi in February 2010. But the volume of APO surimi import did not exceed 20 tonnes figure while average import price amounted to about Y170.00 per kilo, a drop by nearly 60% from the year 2009. It is clear that such dramatic decrease of prices will not encourage Russian producers to supply to surimi market.