Overview of seafood exports from the Russian Far East in the first seven months of 2009

In the beginning of the second half of the year 2009 shipments of main seafood commodities from the Russian Far East have kept showing mostly negative trends, but for a number of products the trends have been showing signs of recovery as compared to the results of the previous months. However, the above improvement has not lead to changes in the general situation remaining more difficult than last year, according to the overview prepared by analysts of http://www.fishnet-russia.com/ (https://www.fishnet.ru/) based on Japanese and Russian sources.

Salmon

In July 2009 the Japanese import of frozen sockeye of the Russian origin dramatically increased and the import volume reached 2200 tonnes versus less than 20 tonnes imported in June 2009. At the same time, as compared to July 2008 the import volume in July 2009 decreased by more than 35% which was attributed to practically complete absence (just like in June 2009) of shipments of products from marine driftnet fisheries. The same reason was behind the decrease of the average import price to less than 520 Yen per kilo versus nearly 570 Yen per kilo in July 2008, when a considerable share of the July import was contributed by products from such fisheries, the products normally fetching higher prices than those from inshore fixed seine fisheries.

In June-July 2009, when the traders imported salmon harvested in the current season 2009, the Japanese customs cleared only 2200 tonnes of frozen sockeye of the Russian origin, 52% down on last year. Since the beginning of the year the total imports of Russian salmon to Japan amounted to ca.3830 tonnes, 46% down on the corresponding result of last year. The average import price did not increase, but decreased to less than 500 Yen per kilo, to only 495 Yen per kilo namely, which was approximately 10% down on the last year result.

The volume of the Japanese import of other salmon species from the Russian Far East in July 2009 amounted to only 32 tonnes or less than 4% of the last year volume which amounted to nearly 850 tonnes. The average import price (CIF terms) however was fairly high exceeding 545 Yen per kilo, at least 80% up on only 300 Yen per kilo last year. Since the beginning of the year the total import amounted to only 41 tonnes versus nearly 1100 tonnes last year, while the average price for the period amounted to ca.465 Yen per kilo, nearly 50% up on last year.

Pollock roe

The volumes of the July shipments of Russian pollock roe to the main markets considerably increased as compared to June 2009 and the total import volume also appeared to be much lower than last year, but the Japanese specialists said that it was not yet time to conclude that the total import volume in 2009 would be behind the last season result.

The Japanese import in July 2009 was limited to less than 300 tonnes decreasing most seriously as compared to June against the background of import data to the South Korea and China. More specifically, while import to the South Korea went down by 68% and import to China decreased by 62%, import of the Russian pollock roe to Japan sank by more than 95%. In absolute figures the import volume to the South Korea amounted to ca.450 tonnes and import to China amounted to ca.540 tonnes.

Nevertheless, the total volume of the Japanese import of Russian raw pollock roe remained much larger than shipments to the above mentioned markets. From the beginning of the year through July 2009 the South Korean customs cleared ca.3800 tonnes of Russian pollock roe and the Chinese customs cleared ca.2300 tonnes, while the Japanese import amounted to ca.14,700 tonnes. At the same time, the distribution pattern of the Russian shipments of raw pollock roe between the markets displayed serious changes caused by mixed trends. While import to Japan as per the end of July decreased nearly by 20% as compared to last year, import to the South Korea increased nearly by 82% and reached 4200 tonnes, import to China rose by 32% to ca.2300 tonnes.

Unlike the trends in the dynamics of the volume indices the price trends were fairly close. In July 2009 the average price of the Japanese import amounted to 776 Yen per kilo, 3% up on June 2009, the average indications for shipments to the South Korea grew by 2% to 6.29 USD per kilo and the prices for shipments to China rose by 20% to 9.95 USD per kilo. At the same time, as compared to last year the average price of the July import to Japan decreased by 35%, to the South Korea - by 31% and to China - by 30%. Since the beginning of the year the average price of shipments to Japan amounted to ca.875 Yen per kilo, 31% down on last year, the average indications for the South Korea decreased by 14% to less than 7.10 USD per kilo and the average prices for shipments to China declined by 25% to 8.00 USD per kilo. Evidently no serious changes in the price situation were expected before the start of the shipments of products from the season 2010 as the prices had been already formed by the results of the auctions in Busan and some nuances could occur only in the volume of shipments, moreover the total volume of the seasonal import to those three countries was smaller than the result of the last season approximately by 1900 tonnes (for the period from March to July 2009 the traders imported only 19,600 tonnes versus 21,500 in the same months of 2008).

Salmon roe

Shipments of neither frozen nor salted Russian salmon roe to Japan were registered in July 2009. However, the total import of frozen raw material since the beginning of the year amounted to 735 tonnes, 150% up on last year and the difference in prices was really large with the average indications in 2009 settling at 1670 Yen per kilo.

Herring roe

In July 2009 the Japanese import was limited to less than 15 tonnes contributed by salted products. Since the beginning of the year through the end of July 2009 the traders imported 58 tonnes of such products, ca.7% down on last year. The average import price through the period increased by 10% and reached the level of 800 Yen per kilo mostly thanks to the July rise to nearly 1255 Yen per kilo versus ca.920 Yen per kilo in July 2008.

Pollock and other cod species

In July 2009 import of frozen pollock of the Russian origin to Japan moved much quicker as compared to June 2009 and moreover for the first time since the beginning of the year the monthly import exceeded the result of 2008, but due to extremely slow import in the first half of the year the total volume since the start of the year still remained much smaller than last year. Through the month the traders imported 12,200 tonnes, 82% up on June 2008 and 7.5% up on July 2008, but by the end of July 2008 the customs cleared only 43,800 tonnes (including cod and other congener species as the customs statistics of China so far does not give specific figures for each particular cod species), 77% down on last year.

The average import price (CIF terms) in July 2009 decreased as compared to June 2009 approximately by 2% to less than 2.20 USD per kilo, but as compared to last year it decreased by 23%. In general since the beginning of the year the average price rose nearly by 20% to 2.10 USD per kilo.

In July 2009 the Japanese import of frozen pollock of the Russian origin amounted to ca.60 tonnes, and the general volume of shipments since the beginning of the year reached 270 tonnes, still two times down on last year. The average import price in July 2009 however was higher than last year by more than 30% and amounted to ca.215 Yen per kilo. Nevertheless, the average price through the period remained nearly unchanged at 170 Yen per kilo.

The Japanese import of frozen cod of the Russian origin in July 2009 was limited only to 27 tonnes, but in July 2008 the traders imported even less frozen cod, only 7 tonnes namely. However, that did not result into any changes in the general situation with the Russian shipments with the total import volume through the first seven months of the year 2009 amounting to only 510 tonnes, exactly twice smaller than last year. Even worse factor for the producers was that the average import price through the period decreased by 48% to only 256 Yen per kilo, though in July it was somewhat higher at 315 Yen per kilo (in July 2008 it amounted to 575 Yen per kilo).

Bottomfish

In July 2009 the Chinese customs cleared ca.450 tonnes of frozen halibut of the Russian origin, 155% up on last year, but in general through the period since the beginning of the year the shipments grew only by 7% to 1500 tonnes (more than 80% were contributed by black halibut). The average import price in July 2009 amounted to ca.2.05 USD per kilo while in July 2008 it leveled at 2.50 USD per kilo. The average indications through the period since the start of the year did not reach even 2 USD per kilo and amounted to ca.1.75 USD per kilo, practically 1.00 USD down on the last year result.

The July import of frozen flounder of the Russian origin was also brisker than in July 2008. The volume of shipments reached 3400 tonnes, 14% up on last year, but due to the weak result in the first half of the year the general import volume since the beginning of the year did not show any rise and amounted to only ca.4800 tonnes, nearly 48% down on the import volume as per the end of July 2008. The average import price in July 2009 was close to the level of 1.00 USD per kilo, the same average price recorded for the period since the beginning of the year, ca.15% down on last year.

The Japanese import of frozen halibut of the Russian origin in January-July 2009 decreased by 49% to 1600 tonnes, and in July 2009 the traders imported 300 tonnes, 63% down on last year. The prices in Yen decreased to less than 600 Yen per kilo in a situation of a quick rise of the Yen to USD exchange rate by 8% (in July 2009 the situation was just the same). Import of flounder in the first seven months of the year went down nearly by 58% failing to reach even 900 tonnes. In July 2009 the traders imported only ca.30 tonnes, nearly 90% down on last year. The average import price since the beginning of the year declined nearly by 20% to 230 Yen per kilo, though in July 2009 it was at the level of 250 Yen per kilo. Shipments of live and fresh products also developed much more slowly, in July 2009 the traders imported only 9 tonnes and during the seven months of the year the import volume decreased by 44% to only 43 tonnes with the average import price through the period declining by 30% to only 285 Yen per kilo. In July 2009 it was higher at ca.320 Yen per kilo.

Import of Russian ocean perch Sebastes mentella to Japan and the total import of all the ocean perch species grew much brisker in July 2009, the import volume rising on June 2009 nearly four times and approaching 400 tonnes, 200% up on July 2008. However, in general since the beginning of the year the import volume went down nearly by 40% to 1200 tonnes. The average import price practically did not decrease and leveled at 350 Yen per kilo, but in July 2009 it was below 340 Yen per kilo versus nearly 430 Yen per kilo last year.

In the meantime, Russian shipments of Atka mackerel grew much less active with the total import volume through July 2009 amounting to only 240 tonnes versus 1800 tonnes in June 2009. In combination with a comparably weak result of the first half of the year the above mentioned development led to the total import volume since the start of the year limited to only 11,500 tonnes, 25% down on last year. The average import price through the period under analysis rose practically by 20% to ca.220 Yen per kilo. In July 2009 the average price was extremely high at ca.670 Yen per kilo, which actually caused serious doubts that those were actual prices for imported Atka mackerel.

Herring

As compared to June 2009 in July 2009 import of frozen herring of the Russian origin was developing at a break-neck rate, the import volume jumping nearly by 180% to ca.700 tonnes. However, as compared to last year the result of this July 2008 was not very high (import decreasing by 10%) and in general through the period from the beginning of the year the import declined by 12.5% failing to reach 5000 tonnes (amounting to 4900 tonnes namely). The average import price in July 2009 grew by 14% on June 2009 to 1470 Yen per kilo, nearly 13% up on July 2008. The average indications for the first seven months of the year increased by less than 5% to ca.1190 Yen per kilo.

Sea urchin

Shipments of live sea urchins in July 2009 also grew weaker with the total import volume amounting to only ca.600 tonnes versus nearly 1000 tonnes of the import volume in June 2009. As compared to last year the July import went down by 17% and the total decrease for the period of seven months amounted to ca.11% with the volume of shipments recorded at ca.6450 tonnes. The average import price in July dramatically increased and approached the level of 650 Yen per kilo jumping by 33% on June 2009 and 20% on July 2008. The average price since the beginning of the year amounted to 525 Yen per kilo, 9% down on the last year result.

Crab

Import of frozen crab of the Russian origin to China in July 2009 declined by 100 tonnes as compared to June 2009 and amounted to only 310 tonnes, 64% down on July 2008. The total import through the period of seven months failed to reach 3300 tonnes, nearly 18% down on last year. The average import price in June 2009 was at the level of only 2.50 USD per kilo, approximately 12% down on the average import price in July 2008. However, the average price for January-July 2009 grew by 23% on the corresponding figure for last year and amounted to ca.3.50 USD per kilo.

The US import of frozen king crab of the Russian origin noticeably exceeded the last year result both in July and June 2009 and amounted to 1750 tonnes, nearly 30% up on last year. The total import since the beginning of the year exceeded the last year result by 0.6%, though the structure of shipments remained an unsolved question as the share of the Barents Sea products in the total import volume remained unknown. Though judging by the price indications the bulk of import was still represented by the products originating from Kamchatka and other areas of the Russian Far East. The average import price FAS or ex-vessel in July 2009 remained at 14.00 USD per kilo versus nearly 17.00 USD per kilo last year. The average price for the period of seven months decreased by 2% to 16.00 USD per kilo.

Import of frozen snow crab of the Russian origin to the USA in July 2009 fell nearly by 90% on June 2009 to ca.800 tonnes. From the beginning of the year till the end of July 2009 the traders imported ca.2500 tonnes, nearly 6% up on last year. The average import price slightly decreased on June 2009 and amounted to 6.30 USD per kilo, 1.00 USD per kilo up on July 2008. The average indications for the first seven months of the year went up nearly by 12% to ca.6.00 USD per kilo.

The Japanese import of frozen snow crab from Russia in July 2009 also increased on June 2009 (20%) to ca.2400 tonnes, but 10% down last year. The total import volume from the beginning of the year decreased by 21% to less than 6600 tonnes. The average import price grew from 865 Yen per kilo in June 2009 to 910 Yen per kilo in July 2009, still 17% down on July 2008. The average import price for the first seven months of the year amounted to less than 890 Yen per kilo, 20% down on the corresponding result of last year.

However, import of frozen king crab (mostly red) to Japan in July 2009 decreased by 80% on June 2009 and amounted to only ca.40 tonnes versus more than 400 tonnes in July 2008. The total import in January-July 2009 amounted to only 2900 tonnes, 30% down on last year. The average import price in July 2009 jumped by more than 20% to ca.1580 Yen per kilo (for comparison, the price for shipments from Norway amounted to approximately 1780 Yen per kilo). The average import price for the first seven months of the year amounted to ca.1415 Yen per kilo, more than 20% down on last year.

In July 2009 the Japanese customs cleared only 350 tonnes of live king crab of the Russian origin, practically 40% down on June 2009 and July 2008. However, the total import volume from January 2009 reached 3100 tonnes, nearly 13% up on last year. Though the average import price in July 2009 grew by 21% on June 2009, but it amounted to only ca.520 Yen per kilo, 22% down on last year. The average import price from the beginning of the year decreased by 21% to 520 Yen per kilo. As for shipments of live snow crab, the import price decreased by 22% to less than 320 Yen per kilo, and in July 2009 it was 26% below the last year result and amounted to only 290 Yen per kilo. At the same time, the volume of shipments of live snow crab (according to the official import data) in July 2009 more than doubled as compared to June 2009 (nearly by 115% namely) and exceeded the last year result nearly by 40%. From January 2009 the total import decreased nearly by 1000 tonnes to 14,000 tonnes.

Import of live hairy crab of the Russian origin to Japan in July went down by 15% as compared to last year and amounted to ca.280 tonnes. The total import volume for January-July 2009 decreased by 32% to less than 750 tonnes. The average import price in July 2009 increased by 7% on June 2009 to ca.630 Yen per kilo. The average indications for the period from the beginning of the year amounted to 660 Yen per kilo, 13% up on last year (import of frozen products was not registered in July 2009, while in January-July 2009 such import fell by 60% to less than 20 tonnes, the average price declining by 17% to ca.815 Yen per kilo).