Overview of seafood exports from the Russian Far East to June 2009

By the end of the first half of the year 2009 shipments of main seafood commodities from the Russian Far East have been showing mostly negative trends both in terms of volume and in prices except for some products, according to the overview prepared by analysts of http://www.fishnet-russia.com/ (https://www.fishnet.ru/) based on Japanese and Russian sources.

The exceptions covered only surimi and roe products, as well as live and fresh king crab and in case with pollock roe the general situation was complicated as the import rise to China and South Korea was accompanied by its decrease to Japan and the general increase (comparably small) of the import volumes was observed in a situation of decreased prices. With the above conditions only dramatic weakening of ruble's exchange rate as compared to last year enabled the Russian producers to sustain volumes of sales in ruble terms, while in general the volumes of sales in foreign currencies should greatly decrease at least according to the official data on import to main importing countries.

Salmon

In June 2009 the Japanese import of frozen sockeye of the Russian origin remained as slow as in May 2009 when the traders imported less than 20 tonnes, however the average import price CIF increased by 37% and from less than 800 Yen per kilo it grew to 1000 Yen per kilo, namely to 1083 Yen per kilo. That was 67% up on the last year result, however in June 2008 the import volumes were much higher (ca.1200 tonnes).

The market specialists attributed the above mentioned decrease of seafood import first of all to the absence of shipments from marine (driftnet) fisheries, the best periods of which were completely lost in the current year both for the Russian fishermen and the Japanese due to the position of the fishery management bodies. Another reason behind such a dramatic fall of the June import was connected with the start of the fixed seine fishery of sockeye in East Kamchatka, though the fishery itself began approximately one week earlier than last year (on the other side, import of US products also decreased practically twice on the first half of last year, thus the trend was common despite all the nuances).

The total volume of the Japanese import of frozen sockeye of the Russian origin through the first half of the year, when the customs cleared products from the season of 2008, was limited to only 1650 tonnes, 56% down on the import volume in January-June 2008. Eeven with extremely high price indications of May and June the average import price for the period was limited to only 460 Yen per kilo, 14% down on last year, which was higher than the increase of the Yen exchange rate to USD.

Shipments of other frozen and fresh salmon products of the Russian origin to Japan in June were not registered.

Besides, there were no extra shipments of frozen salmon roe of the Russian origin, import of which amounted to 740 tonnes through the recent months, 165% up on the last year result. Import of processed salmon roe of the Russian origin to Japan in the first six months of the current year 2009 was not registered again.

Pollock roe

Progressing of the Japanese import of frozen Russian pollock roe in June continued getting more active, while last year in June it started slowing down (after peaking shipments in May 2009). In June the traders imported 5900 tonnes, nearly 28% up on May 2009 and 5% up on last year, but the total import volume through the first half of the year did not reach 14,500 tonnes and amounted to 14,400 tonnes, 7% down on last year. The price situation was less satisfactory for the Russian producers, in June 2009 the average import price decreased to only 750 Yen per kilo, 18% down on the result of May 2009 when the prices were not high either, and practically 40% down on last year. In general, in the first half of the year the average prices amounted to only 875 Yen per kilo, 32% down, though the Russian producers united into an association had it as a main target to strengthen prices in Japan before the start of the season.

Shipments of the Russian raw to South Korea and China also grew quicker in June 2009, especially to China, which could be explained mostly by a shift of auction sales of the leading producers to May 2009. Import to South Korea in June grew by 13% on May 2009 to ca.1380 tonnes, practically 1000 tonnes up on last year. In general from January to June 2009 the South Korean import of the Russian raw jumped by 85% to 3800 tonnes mostly thanks to withdrawal of the Japanese buyers from the market and a considerable decrease of prices at auctions in Busan, especially in May 2009. The average import price CIF in June 2009 decreased (to prove the above trend) and failed to reach even 6.20 USD per kilo versus 7.50 USD per kilo in May 2009. The average indications for the period from the beginning of the year amounted to ca.7.20 USD per kilo, 12% or nearly 1.00 USD down on last year.

The average price of pollock roe import to China in January-June 2009 amounted to only ca.7.45 USD per kilo, more than 10% down on last year, but in June it was much higher at ca.8.30 USD per kilo, still 21% down on last year. The volume of the Chinese import through the first half of the year reached 1,750 tonnes, 68% up on last year.

The total volume of import to Japan, South Korea and China in June 2009 reached 8700 tonnes, 47% up on May 2009 and 40.5% up on June 2008. The total import through the first six months of the year approached 20,000 tonnes, 7% up on last year. Shipments in July 2009 were forecasted to be more active than last year and the increase on last year was expected to grow further, thus reflecting the rise of production output in Russia last year.

Pollock and other cod species

In June 2009 import of frozen pollock of the Russian origin to Japan was not registered again and the result for the first half of the year remained at 200 tonnes, more than 60% down on import in the first half of 2008. Shipments of frozen cod in June grew somewhat quicker and the total volume of import amounted to ca.70 tonnes, but that was 80% down on the import volume in January-June 2008. In general for the first half of the year the Japanese import of Russian cod did not reach 500 tonnes and amounted to 480 tonnes, 52.5% down on last year. The average import price in June, just like in May 2009, was at the level of 240 Yen per kilo versus nearly 530 Yen per kilo last year, and the average indications for the period since the start of the year amounted to only 253 Yen per kilo, 48.5% down on last year.

The Japanese import of pollock surimi of the Russian origin in May and June 2009 stabilized at 23 tonnes and through the first half of the year the traders imported more than 140 tonnes versus zero volume last year (shipments to South Korea were not registered at all). The average import price in May 2009 amounted to ca.440 tonnes per kilo and in June 2009 it decreased to ca.425 Yen per kilo partly due to strengthening exchange rate of Yen. In January-June 2009 the average indications amounted to ca.450 Yen per kilo.

In June 2009 China imported ca.6700 tonnes of Russian products (mostly headed and gutted pollock), 78% up on May 2009, but 40% down on June 2008. In general in the first half of the year such import decreased even stronger, by 83% namely, to 31,630 tonnes. The average import price in June 2009 amounted to 2.23 USD per kilo, 10% up on May 2009, but 18% down on June 2009. However, for January-June 2009 the average price amounted to 2.07 USD per kilo, 22% up on last year.

Herring

Import of frozen Russian herring to Japan in June 2009 grew by more than 60% on May 2009 and amounted to ca.250 tonnes, and as compared to last year it increased nearly five times, though the total import volume for the first half of 2009 decreased by 60% to only 3400 tonnes. The average import price in June 2009 grew by 17.5% on May 2009, but it failed to reach 100 Yen per kilo, 31% down on last year. The average indications for January-June 2009 amounted to only 90 Yen per kilo, 26% down last year.

Import of frozen Russian herring fillets (mostly processed in China) to Japan in June 2009 amounted to ca.450 tonnes, 40.5 up on May 2009, however as compared to last year import in June appeared to be 42% down. In January-June 2009 the total import amounted to only 2900 tonnes, 20% down on last year. The average import price in June 2009 amounted to ca.415 Yen per kilo, 9% up on May 2009. The average price for the period of six months amounted to 415 Yen per kilo, 8% up on last year.

In June 2009, for the first time since the beginning of the year, the traders imported frozen Russian herring roe to Japan, but the import volume amounted to only 2 tonnes. However, last year in the first six months such shipments were not registered at all. The average import price amounted to ca.550 Yen per kilo. Import of salted Russian herring roe to Japan in June 2009 grew on May 2009 by 28%, but it was limited to less than 30 tonnes. In January-June 2009 its volume amounted to ca.45 tonnes with the rise of 83%on last year, the average import price amounted to ca.670 Yen per kilo, nearly 50% up on last year. However in June it was less than 485 Yen per kilo, 47% down on May 2009 (in June 2008 no shipments of the product were registered).

Bottomfish

The Japanese import of frozen ocean perch of the Russian origin in June 2009 decreased by 14% on May 2009 to 100 tonnes, which was approximately on a par with the last year result, but for the first half of 2009 the import volume decreased by 55% to 850 tonnes. The average import price in June 2009 sank by 57% to 190 Yen per kilo, but the average indications for the first six months of the year amounted to 360 Yen per kilo versus 356 Yen per kilo in the first half of 2008.

Progressing of the Japanese import of Atka mackerel gathered momentum in June 2009 as compared to the previous month and the import volume jumped by 37% to 1800 tonnes, 53% up on June 2008. At the same time, the total import for the period since the beginning of the year decreased by 21% to only 11,300 tonnes. The average import price in May and June ranged at 215-220 Yen per kilo versus less than 200 Yen per kilo last year, and the average indications for the first half of the year amounted to 210 Yen per kilo, jumping nearly by 15%.

Activity of the Japanese import of frozen Russian halibut (except for arrowtooth flounder) in June 2009 dramatically increased and the import volume rose by 256% on May 2009 to ca.350 tonnes, but as compared to last year it went down by 22%. In January-June 2009 the import volume amounted to a little more than 1300 tonnes, more than 1000 tonnes down on last year. The average import price in June 2009 decreased to somewhat below the level of 600 Yen per kilo, 10% down on May 2009 and the average indications were limited to 590 Yen per kilo, 8% down on last year.

Import of Russian halibut to China (also less arrowtooth flounder) amounted to ca.60 tonnes, 70% down on last year, and the import volume for the first half of the year went down by 13% to ca.1060 tonnes. The average import price in June 2009 amounted to ca.1.72 USD per kilo, and the average import in the first half of the year amounted to only 1.67 USD per kilo, practically 1.00 USD down on last year.

In June 2009 China imported only ca.530 tonnes of frozen flounder of the Russian origin, 80% down on last year. In January-June 2009 the import volume amounted to only 1350 tonnes, 78.5% down on last year. The average import price in June 2009 amounted to ca.1.25 USD per kilo, approximately on a par with the last year result, and the average indications through the period since the beginning of the year were approximately the same while in the first half of 2008 they were close to 1.35 USD per kilo.

Just like in May 2009, in June 2009 Japan imported ca.45 tonnes of frozen Russian flounder, while last year the volume of June shipments was close to 400 tonnes. In January-June 2009 it went down nearly by 1000 tonnes and amounted to 860 tonnes. The average import price in June rose by 25% on May 2009 and amounted to ca.235 Yen per kilo, while the average figure for the first half of the year amounted to 230 Yen per kilo, 20% down on the corresponding result of last year.

The Japanese import of fresh flounder of the Russian origin in June 2009 jumped three times as compared to May 2009, but it did not reach 20 tonnes, and in the first six months of the year the traders imported ca.35 tonnes, 19% down on last year. The average import price in June 2009 rose by 7% to 280 Yen per kilo, but the average indications for January-June 2009 were below 275 Yen per kilo, 33% down on the first half of 2009 (ca.415 Yen per kilo).

Crabs

The volume of the Chinese import of frozen crab of the Russian origin (mostly snow crab) was limited only to 400 tonnes, 43% down on last year, but the total volume of shipments through the first half of the year decreased only by 3% and was only slightly below the level of 3000 tonnes. The average import price in June 2009 settled at 2.15 USD per kilo versus nearly 2.70 USD per kilo last year and in January-June 2009 it amounted to ca.3.60 USD per kilo, 26% up on last year.

The Japanese import of frozen king crab in June 2009 got somewhat stabilized and its volume increase by 11.5% on May 2009 to nearly 200 tonnes. However, as compared to last year it went down by 74% and the total volume of shipments since the beginning of the year did not reach 2900 tonnes, nearly 1000 tonnes down on last year. The average import price through the first half of the year settled at only 1400 Yen per kilo, 20% down on last year even inspite of a serious decrease of supplies. In the meantime, in June 2009 the average price was even smaller at only ca.1300 Yen per kilo versus 1350 Yen per kilo in May 2009 and nearly 1865 Yen per kilo in June 2008.

Import of frozen snow crab opilio of the Russian origin to Japan in June 2009 grew much brisker and the volume of shipments practically reached 2000 tonnes with a 130% rise on May 2009. Nevertheless, the result of June 2009 appeared to be nearly 1000 tonnes down on last year, and the total import volume through the first half of the year decreased by 27% or 1500 tonnes. The average import price in January-June 2009 amounted to only 875 Yen per kilo, 22% down on last year. In June 2009 the average price amounted to only 865 Yen per kilo versus nearly 1125 Yen per kilo last year.

Shipments of other frozen crab products, including hairy crab, of the Russian origin to Japan were not registered in June 2009.

Shipments of live king crab (mostly red) in May and June 2009 were comparably stable and the volumes settled at 570-580 tonnes. Even though the June result appeared to be nearly 35% down on the last year result, the total import volume for the first half of the year grew by 26% on last year and amounted to 2750 tonnes. The average import price decreased by more than 20% to 525 Yen per kilo and in June 20009 it was even below 435 Yen per kilo, 36% down on last year.

Shipments of live snow crab, mostly opilio, in June 2009 grew slower and the total import volume amounted to only ca.2100 tonnes, 27% down on May 2009. As compared to last year the import volume in June 2009 decreased by 54% and in general for January-June 2009 the Russian shipments dropped by 19% to less than 9500 tonnes. The average import price decreased practically by 20% and failed to reach even 330 Yen per kilo. In June 2009, just like in the previous month, the average indications were ca.300 Yen per kilo, 28% down on June 2008.

The volume of June shipments of live hairy crab of the Russian origin to Japan amounted to 110 tonnes, 63% down on last year, while the import volume for the first half of the year 2009 decreased by 39% on last year and did not reach even 500 tonnes. The average import price rose by 8.5% to ca.685 Yen per kilo, but in June 2009 it was below 590 Yen per kilo, 16% up on last year.

Shrimp

The Japanese import of frozen shrimp (mostly humback and pink) in June dramatically slowed down with only 610 tonnes cleared at customs, 38% down on May 2009, but 26% up on June 2008. The total import volume through January-June 2009 exceeded 4500 tonnes, 14% down on the corresponding result of last year. The average import price through the first half of the year amounted to ca.1165 Yen per kilo, approximately 4% up on last year and in June it made up ca.1295 Yen per kilo, 15% up on May 2009 and 6.5% up on June 2008.

Sea urchin

Shipments of live sea urchins from Russia to Japan in June 2009 declined by 14% on May 2009 and again amounted to less than 1000 tonnes, 19% down on last year. In general from January to June 2009 the Japanese traders imported ca.5850 tonnes of live sea urchins, 10.3% down on last year. The average import price in June 2009 amounted to ca.485 Yen per kilo, 4% up on May 2009, but as compared to last year it decreased by 3%. The average import price for the first half of the year amounted to ca.515 Yen per kilo, 11.5% down on last year.