LATEST TRENDS. Issue 09/2014 September 2014

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1 Issue 09/2014 The European Fish Price Report, based on information supplied by industry correspondents, aims to provide guidance on broad price trends. Price information is indicative and should be used only for forecasting medium- and long-term trends. FAO is not responsible for any errors or omissions. INDEX FOR PRICES Groundfish 11 LATEST TRENDS Flatfish 12 Tuna 12 Small Pelagics 13 Cephalopods 13 Crustaceans 14 Bivalves 15 Salmon 16 Trout 16 Freshwater fish 16 Non Traditional Species 16 Seabass-Seabream- Meagre 17 In addition to the persistence of weak consumer demand in many key European markets, the Russian import bans for a number of key producing countries resulting from political unrest in Eastern Europe, means that entire sectors must now engage in a concerted effort to identify and develop alternative markets for significant volumes of their production. The success of these efforts has so far been mixed, and the markets are still uncertain regarding the future impact of the ban. Some major exporters affected by the ban, such as Norway, have managed to actually increase their seafood export volumes despite the traditional importance of Russia as a destination for many key species. In general, it is the markets that are highly globalized which are those where a reshuffling of the trading partners is likely to mitigate the effects of the ban, as nonbanned producing countries step in to replace the supply gap left by their competitors and the latter are then able to focus their attentions on the resulting shortfalls in relatively more accessible markets. For those countries not targeted by the import restrictions, the situation has thus created new opportunities, especially for salmon, trout and small pelagics. As a result of the upheaval, however, the overall short-term outlook for prices is not positive, though some upward movement can be expected at the end of the year because of cyclical demand swings.

2 Nov-11 Mar-12 Jul-12 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 WORLD SEAFOOD CONGRESS 2015 From 5-10 September next year, Seafish is hosting the World Seafood Congress (WSC) 2015 in Grimsby. The event is presented by the International Association of Fish Inspectors (IAFI) and co-organised by the Food and Agriculture Organization (FAO) and the United Nations Industrial Development Organization (UNIDO). The IAFI WSC brings together a global audience of fish inspectors, government, the seafood processing industries, academia, public and private organizations to provide the following opportunities: Exchange information, ideas and methodologies for fish, seafood and associated products, inspection, quality management and fish/seafood technology; Foster interaction, understanding and professional collaboration among individuals, organisations and governments for the purpose of facilitating the global export and import of fish, seafood and associated products and their consumption; Contribute to discussions and analysis of current fish/seafood inspection and control systems, regulatory regimes and seafood processing infrastructure and suggest ways and means to improve product quality and safety inspection and mitigate risk of seafood origin consumer illness. Disseminate knowledge about fish, seafood and associated products inspection and methodologies; encourage development of global fish, seafood and associated product standards and new inspection systems, methodologies and technologies; Promote advancement of the state of the art in research and education on fish/seafood inspection and control systems and risk analysis and their integration into everyday life; Provide services to its members to assist them in developing their careers as fish/seafood inspectors; Provide fish, seafood and associated product inspection, quality management and fish/seafood processing technology consultative, inspection and audit services to individuals and organisations. GROUNDFISH According to the Norwegian Seafood Council, the value of Norwegian cod exports in August was NOK 824 million, a 9% increase of NOK 67 million compared with last August. The exported volume, however, fell by 4%. Meanwhile, the total value of Norwegian frozen fish exports in August was NOK 322 Cod - In Poland (FOB, origin: Baltic Sea) 2.5 Fresh gutted million, NOK 62 million more than August The price for whole frozen cod was 21% higher on average in August. The greatest growth was in exports to China, 2.3 but the UK, Poland and Portugal have imported more whole frozen 1.5 cod this year to date than during the same period last year. The volume of exports of frozen cod fillets in August totalled NOK 43.2 million, up by 12%. The value of exports of Norwegian clipfish in August was NOK 298 million or tonnes. This is an increase of NOK 25 million compared with August last year, but a slight drop in volume of 350 tonnes. 2

3 Prices of wet-salted cod fillets from frozen raw material (Gadus Macrocephalus) are increasing as firming demand associated with the consumption season pulls against the lack of Russian raw material. Prices of wet-salted cod fillets (Gadus Morhua) from fresh raw material both in the Faroe Islands and in Iceland are also increasing. This is due to strong demand for fresh raw material from fresh fish traders and producers of frozen cod products. In general, demand for fresh and frozen cod, mainly shipped to Spain, France, the UK and the USA, is growing. Meanwhile, surimi prices are increasing in line with the strengthening USD. Surimi - In France, origin: Spain Monkfish - IQF tails, skinless, 20% glazing - IWP Stick 250 gr/pc FLATFISH Good demand in August pushed turbot prices upwards. The continuing scarcity of larger fish is also contributing to the upward price trend for those sizes. Turbot - In Spain, origin: Spain Fresh - whole, cultured 0.5-1kg/pc 1-2 kg/pc 2-3 kg/pc 3-4 kg/pc TUNA/BILLFISHES Tuna - Pacific Ocean USD/kg Dec-10 Mar-11 Jun-11 Dec-11 Mar-12 Jun-12 Dec-12 Mar-13 Jun-13 Skipjack Bangkok CFR Skipjack Ecuador, ex-vessel Dec-13 Mar-14 Jun Well-stocked canneries, weak demand and moderate-to-good fishing in the Western and Central Pacific has reversed last month s upward trend and skipjack prices have dropped to USD /tonne CFR Bangkok. Prices are also down for Ecuadorian skipjack, currently trading at USD 1 700/tonne and expected to drop further. 3

4 Dec-10 Mar-11 Jun-11 Dec-11 Mar-12 Jun-12 Dec-12 Mar-13 Jun-13 Dec-13 Mar-14 Jun-14 Dec-10 Mar-11 Jun-11 Dec-11 Mar-12 Jun-12 Dec-12 Mar-13 Jun-13 Dec-13 Mar-14 Jun-14 Dec-10 Mar-11 Jun-11 Dec-11 Mar-12 Jun-12 Dec-12 Mar-13 Jun-13 Dec-13 Mar-14 Jun-14 Fishing in the Eastern Pacific is moderate, with the cold equatorial waters making it more difficult for the vessels not applying the ban to find fish. The first IATTC Veda closure period, applied to 40% of the fleet, began July 29 and runs through to September 28. In contrast to skipjack, yellowfin prices have risen to USD 2 600/tonne ex vessel Manta. Tuna - Indian/Atlantic Oceans Skipjack, Seychelles, FOB Yellowfin, Seychelles, FOB Skipjack, Abidjan ex-vessel Yellowfin, Abidjan, > 10 kg, ex-vessel Low demand for finished product amongst European customers is a source of concern for the industry in Ecuador, particularly looking ahead to 2015 sales in Europe, when tariff preferences will no longer apply to Ecuadorian-origin imports. Vessels in the Atlantic Ocean have reported moderate-to-good fishing, with about two-thirds of the catch being skipjack. Local canneries are better stocked compared with previous months. Skipjack and yellowfin prices have fallen to EUR and EUR 2 250/tonne ex vessel Abidjan, respectively. Tuna - Loins USD/kg Fishing in the Indian Ocean remains steady. Most vessels are operating on FADs and catching mostly skipjack. Local canneries are adequately covered. The skipjack price has dropped to EUR 1 150/tonne FOB Mahe level and the yellowfin price to EUR 2 000/tonne. Tuna - Spanish canneries Skipjack - frozen cooked loins, single cleaned, Spain/Italy DDP Yellowfin - frozen cooked loins, double cleaned, Italy DDP Yellowfin > 10 kg, Spain CFR Skipjack main sizes, Spain CFR With sufficient supplies from the Indian and Atlantic Oceans, both skipjack and yellowfin prices in the European markets have fallen to EUR 1 300/tonne and EUR 2 300/tonne CFR Spain level respectively. The market price for cooked, double cleaned yellowfin loins remains at USD 8 300/tonne DDP Italy SMALL PELAGICS According to the Holtermann report, the Icelandic mackerel fishery is basically over with tonnes reported landed against the tonne Icelandic quota (the balance seems reserved for by-catch). The vessels are now switching to Atlanto Scandian herring, but there are reports of some mixed mackerel and herring catches at the moment. The herring total is currently at tonnes. 4

5 Although it does not affect Iceland directly, there are some uncertainties on the impact of the Russian import ban on trade in fishery products from Norway/EU and how this will affect fishing efforts and landings for human consumption vs. meal/oil. Producers are thus holding back somewhat until they have a more clear picture on this. The same can also be said for several of the main buyers. The Norwegian mackerel fishery gained pace last weekend and the total catch is now at tonnes against the tonne quota. In addition, there were a few Norwegian vessels sailing for the fishing grounds west of Denmark after reports of good North Sea sprat catches from the Danish vessels. The Norwegian quota for North Sea sprats is at tonnes and the catch has already reached tonnes. Additional stocks of size mackerel from the UK are available as a result of the Ukraine crisis and cancelled orders. With the new season approaching, fishers and traders are looking to clear these extra volumes as soon as possible. Meanwhile, in Greenland and the Faroe Islands, following good food availability for mackerel stocks during the early season, large quantities of H&G mackerel are being exported at stable prices, boosted by these countries exclusion from the Russian ban. Catches in the Danish sprat fisheries continue at a steady pace with the total so far this year standing at approximately tonnes. There is not much activity in the Scandinavian market where both sellers and buyers seem to be in wait-and-see mode. Prices, however, are slightly softer with limited volumes traded in Denmark at around DKK FOB for 72% standard fishmeal. The capelin biomass re-assessments usually commence around New Year, but this week it emerged that the Icelandic Marine Research Institute had been granted funds for an additional capelin survey already this autumn. The preliminary advice from ICES based on available data this spring was for a tonnes starting quota which corresponds to 50% of the calculated tonne TAC (precautionary approach). Currently production of meal and oil in Iceland is limited. CEPHALOPODS Squid - In Italy, origin: South Africa Squid - Whole, FAS, size M 7.50 In South Africa, squid catches have slowed to a crawl again. Weather conditions are suitable, but the squid are simply not being landed. This situation is of great concern to the industry and boat owners in particular, who are facing increasing operating costs. As a result of the drop in supplies, prices remain firm on the main European markets, Spain and Italy. CRUSTACEANS Fall season has started in the USA and Canada. Demand for live lobster from Asia is good but catches are relatively poor, with high prices resulting. Meanwhile, there is still stock available in Canada from the last spring season of commodity products such 5

6 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 as popsicle lobster. The price for popsicles up to 400g currently stands at around CAD 16/kg CIF Europe while from 450g and up it varies between CAD 17 and 17.50/kg CIF. On the European market, declining crab prices have stabilised as it is now the optimal consumption season and demand from cooking factories is rising. Demand for European lobster is also increasing as the summer holiday season comes to an end and urban market demand returns. Crab (Cancer pagurus), origin: France European Lobster, in Europe, origin Ireland kg/pc / gr/pc Norway Lobster - in Spain, origin: Iceland 5-7 pc/kg Shrimp The European market for shrimp is somewhat stagnant currently, but there will be more activity from now on as buyers build up supplies for Christmas. Vannamei prices, after falling from April to June, began to rise again in late June. This trend is expected to continue until at least October. In November and December, however, with the arrival of the second harvest and reduced buying activity, prices will likely Whiteleg shrimp - Penaeus vannamei Head-on, shell-on, In Spain, origin: Central America pc/lb turn downwards once again. The price level for the last few months of 2014, based on developments so far, is estimated to be around USD 0.50/Kg below 2013 prices. Infofish reports that EU shrimp imports from non-eu origins for the first five months of the year were 30% more than the same period last year. Supplies increased from

7 Sep-08 Jan-09 May-09 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 the top four exporters, Ecuador (+63%), India (+90%), Vietnam (+72%) and Bangladesh (+30%). Black Tiger - In Europe, origin: Bangladesh USD/kg Bangladesh BT, HL 16/20, c&f Meanwhile, the USA has increased its imports in the first six months of 2014 by more than 11%. Indonesia, Ecuador, India and Vietnam are the main suppliers. In Asia, Korea and Taiwan are increasing consumption, while Japan remains one of the major markets but has seen a decline in imports mainly due to the rising price of shrimp and a weak Yen. Chinese production for 2014 is not anticipated to be good as EMS problems are compounded by the Rammusen typhoon that hit the Southern provinces. The shortfall in domestic production is being made up to some extent by increased imports volumes. Thailand is also producing much less than in 2013 and the outlook is not positive. In contrast, sources suggest Viet Nam, India, Indonesia and Ecuador have increased their production levels in Viet Nam is also importing substantial volumes for processing and re-export from India in particular. In August, the opening of new fishing areas and better weather for the month of July has lead to an increase in Argentina red shrimp captures in Argentinian waters, and the total capture volume so far this year is similar to what was a record figure recorded in Despite the increase in supply, stronger Asian demand, especially from China (particularly large sizes 10/20 and 20/30) and also Japan from August onwards Argentina Red Shrimp - Pleoticus muelleri Head-on, shell-on, In Spain, origin: Argentina (more focused on Size 30/40 and 40/60), kept prices at stable levels and even allowed for slight increases. Consumption in Europe, especially in the core market of Spain, is also showing signs of recovery and maintaining price levels in anticipation of the arrival of the Christmas season. BIVALVES > pc/kg > > > > Oyster - Crassostrea gigas, production price, origin: Ireland/France Live - No Both French and Dutch mytilus edulis mussels are relatively plentiful on the French market at the end of August, although the Bouchot season s production may be tight due to pre-summer mortalities in the west of France. Availability of mytilus galloprovincialis on the French 7

8 Sep-08 Jan-09 May-09 market is now reduced due to the return of the French & Dutch edulis season, but Spanish galloprovencialis can still be found in some outlets at lower prices. Oyster prices remain strong due to decreased supply. At retail level prices appear reasonably stable in order to contain potential consumer backlash. SALMON Salmon - In Europe, origin: Norway Fresh, gutted, head-on, 3-6 kg/pc 4.03 Following Russia s ban on imports of food products from western countries, Russia-destined Atlantic salmon exports from Norway dropped in volume by some 80% in August compared with August In anticipation of the impact of the ban, the Norwegian industry set aside extra funding for the specific purpose of shifting extra volumes to alternative markets, while regulators approved a 6% increase in the maximum allowable biomass (MAB) per farming license in order to create a short-term buffer on the supply side of the market. These proactive measures appear to have had the desired effect, with total Norwegian export volumes up substantially in August compared with the same month 2014, and prices being maintained at reasonable levels despite some softening. According to the Norwegian Seafood Council, Norway exported around tonnes of Atlantic salmon worth NOK 3.6 billion in August, registering increases in volumes to the EU, Asia and the USA which compensated for the drop in exports to Russia. The increased MAB will likely see relatively more fish available in early 2015 than previous years, as harvesting that traditionally takes place in the 3 rd quarter will be delayed to some extent. This has affected the market price expectations, and forward prices for next year are down somewhat compared with forecasts earlier in the year. Overall, however, the price outlook for next year is still positive, with analysts predicting only ~3% growth in global salmon supply in contrast to ~8% growth in TROUT Norwegian trout exports have been relatively more affected by the Russian ban than salmon, with export volumes in August down 28% compared with the same month last year despite a government-approved increase of 20% in the MAB per farming license. Belarus and Poland both absorbed some of the excess volume available, but export prices fell by 8% compared with August Trout - Fresh, live, farmed - ex-farm prices in Italy Trout: Salmo spp Rainbow Trout: Oncorhynchus mykiss

9 last year. In Italy, however, trout prices were up at the end of August, with the possibility of further increases by the end of FRESHWATER FISH In Hungary, prices higher up the supply chain for common carp slices and fillets have risen, but retail prices remain the same as sale campaigns for these products have been launched. For tilapia, heavy rains in China have seen an upward price trend develop, while prices for Vietnamese pangasius are also rising. Nile perch prices are being kept up by low catches in Lake Victoria. Carp - in Europe, origin: Hungary Carp - whole - live Carp - Fillets, fresh on ice Carp - Fresh - in Europe, origin: Hungary HUF/kg Carp - whole - live Carp - Fresh, whole, gutted, head-on Carp - Slices, fresh on ice Carp - Fillets, fresh on ice Pangasius - in Spain, origin: Viet Nam USD/kg Fillets - interleaved, 20% glaze, skinless, boneless, belly-off Fillets - IQF, white, 20%, 1kg poly bag SEABASS/SEABREAM/MEAGRE Seabass and Seabream - In Italy, origin: Greece Seabass fresh whole gr/pc Seabream fresh whole gr/pc The 2014 report of the Federation of European Aquaculture Producers (FEAP), released in late August, estimates that overall production of bass juveniles in Europe was down 8% in 2013 while the decrease for bream was around 2.5%. The most significant drop was in Turkey, with a slight increase registered in Greece. The net result, however, will be a tightening of supply over the next couple of years, and in fact 9

10 Nov-12 Mar-13 Jul-13 Nov-13 Mar-14 Jul-14 analysts predict a small drop in total harvest volumes for 2014 and 2015 compared with last year. This contraction appears to already have had an effect on prices in 2014, which are up in year-to-date terms compared with 2013 for both Turkey and Greece, despite some seasonal weakening over the summer. Meagre - In Italy, origin: Egypt gr/pc fresh whole

11 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area GROUNDFISH Cod/Cabillaud, Morue/ Fresh gutted Poland FOB Baltic Sea Bacalao IQF portion, single frozen gr/pc = Italy CIF Iceland Gadus morhua Fresh - fillet gr/pc CPT Denmark Fresh - Whole 1-2 kg/pc Fillet - IQF - light salted Spain CFR China double frozen, 20% glaze double frozen, 20% glaze 4-8 oz CIF Spain (origin: Barent Sea) Fillet - wet salted - 1st quality gr/pc Italy DDP Iceland produced from fresh raw material Stockfish 700 gr/pc = Norway Gadus macrocephalus Fillet - wet salted - 1st quality gr/pc Denmark produced from frozen raw material Hake/Merlu/Merluza Minced block = Namibia FOB Namibia Merluccius capensis for Spanish market Fillet - skin-on, plate, 2-4 oz/pc Spain DDP landfrozen IQF portion, trapeze gr/pc = Italy CIF Merluccius gayi H&G grp/pc Europe CFR Peru Ecuador Merluccius productus Fillet, PBO = Spain CIF USA Minced block Hoki - Grenadier/ Fillet block New Zealand Grenadier/Merluza Industrial block * Europe CIF Macruronus novaezelandiae Alaska pollack/lieu Industrial block single frozen * USA de l'alaska/colín Industrial block double frozen * China de Alaska Fillet, IQF 2-4 oz na Theragra chalcogramma Surimi (Alaska pollack) Stick - Paprika 250 gr/pc France CFR Spain Saithe/Lieu noir/ Fillet - interleaved gr/pc na Europe CIF Faroe Islands Carbonero (Pollock, Coley) Pollachius virens Fillet - skinless, PBI, interleaved oz = Spain DDP Iceland Monkfish/Baudroie/ Fresh - Tail kg/pc Italy CPT UK Rape Lophius spp > Fresh - whole kg/pc FCA France Tails, skin-off, IWP gr/pc Spain DDP Namibia > Haddock/Eglefin/Eglofino H&G < 0.8 kg/pc NOK Sweden FCA Norway Melanogrammus aeglefinus Ling/Lingue franche/ Fillet - wet salted kg/pc = Italy DDP Faeroe Islands Maruca Molva molva Produced from fresh raw material high quality 11

12 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area FLATFISH Turbot/Rodaballo Fresh - whole kg/pc Spain CIF Spain Psetta maxima cultured Fresh - whole kg/pc No quotations Netherlands wild > 6 Fresh - whole kg/pc Italy CPT Spain kg/pc Netherlands > Sole/Sole/ Fresh - whole < 170 gr/pc No quotations Spain CIF Lenguado wild Solea vulgaris Fresh - whole No. 2 na Italy CIF No No Fresh - gutted No * FCA No * No * No * European plaice/ Fresh - whole gr/pc No quotations Spain CIF Plie d'europe/ Solla europea Pleuronectes platessa IQF, white skin-on, 25% glaze No Netherlands FOB IQF skin-off, 25% glaze = for Italian market European Flounder/ Fresh - whole Italy CPT Denmark Flet d'europe/ Platija europea Platichthys flesus Fresh - whole FCA Netherlands TUNAS/BILLFISHES Tuna/Thon/Atún Skipjack - whole main size Bangkok CFR Western/Central Thunnus spp. Pacific Ocean Skipjack - whole Ecuador Eastern Tropical Yellowfin - whole ex-vessel Pacific Ocean Skipjack - whole main size Seychelles Indian Ocean Yellowfin - whole FOB Skipjack - whole Abidjan Atlantic Ocean Yellowfin - whole > 10 kg ex-vessel 12

13 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area TUNAS/BILLFISHES (Cont.) Tuna/Thon/Atún Skipjack - whole kg/pc Spanish Various origins Thunnus spp. Yellowfin - whole > 10 kg Canneries CFR Skipjack - cooked & cleaned single cleaned = Italy DDP Solomon Islands loins - vacuum packed Yellowfin - cooked & cleaned double cleaned Ghana/Mauriloins - vacuum packed tius/solomon Is. Yellowfin - whole > 10 kg Spain DAT Atlantic Ocean 3-10 kg Skipjack - whole 1.8 kg Bigeye - whole > 10 kg Indian Ocean Bigeye - frozen loins Yellowfin - frozen loins FCA Eastern Pacific Skipjack - frozen loins DDP Ocean Skipjack - pre-cooked loins Europe CFR Ecuador Yellowfin - pre-cooked loins single cleaning = double cleaning Skipjack - whole kg/pc FOB kg/pc Skipjack - canned 170 gr NW/ Tuna chunks in soyabean oil Skipjack - canned 120 gr DW 170 gr NW/ tuna solidpack in soyabean oil Skipjack - canned 120 gr DW 170 gr NW/ Smoked tuna Skipjack - canned 120 gr DW 170 gr NW/ tuna solidpack with jalapeño 120 gr DW Swordfish/Espadon/ Seafrozen kg/pc Spain FOT Spain Pez espada Xiphias gladius SMALL PELAGICS Mackerel/Maquereau/ Fresh - whole Italy CPT Spain Caballa Whole gr/pc na Netherlands FOB UK Scomber scombrus for Eastern Europe Herring/Hareng/Arenque Fresh - fillet Italy CPT Denmark Clupeidae Fresh - whole gr/pc Poland FOB Baltic Sprat/Sprat/Espadín = Sprattus sprattus Sardine/Sardine/Sardina Fresh - whole Italy CPT Croatia Sardina pilchardus Italy CEPHALOPODS Squid/Encornet/Calamar Frozen - whole S (< 18 cm) Italy CIF South Africa Loligo spp. M (18-25) = L (25-30) XL (>30) Block FAS 9-12 cm Spain CIF Falkland Islands (Malvinas) Dosidicus gigas Fillet - clean, pack in block A = Europe CFR Peru and bulk bag = Chile Tentacles - bailarina cut, pack A Peru in block and bulk bag = Chile Raw wings - skin-on, pack A = Peru in block and bulk bag Chile 13

14 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area CEPHALOPODS (cont.) Octopus/Poulpe/Pulpo Whole T Spain DDP Morocco Octopus vulgaris T T T T T T T T Whole - FAS, no glaze T1 No quotations Morocco FOB T2 for Spanish mkt T3 T4 T5 Sushi slice 7 gr/pc Europe CFR Indonesia 100% net weight Boiled cut Flower type 1-2 gr/pc % net weight > Cuttlefish/Seiche/ Whole, cleaned, IQF < 5 No quotations Germany CFR India Sepia 20% glaze < 10 Sepia spp CRUSTACEANS Whiteleg shrimp/ PD, chemical treatment pc/lb Europe CFR Indonesia Crevette pattes 100% net weight blanches/camarón treated with non-phosphate patiblanco Penaeus vannamei Head-on, shell-on pc/kg = Central = America = = = = = Head-on, shell-on pc/kg South/Central Ecuador America FOB for European main ports PD blanched pc/kg Germany CFR India 100% net weight Argentine red shrimp/ Head-on, shell-on > pc/kg Spain EXW Argentina Salicoque rouge/ > d'argentine/camarón > langostín argentino > = Pleoticus muelleri FAS pc/kg CIF = 14

15 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area CRUSTACEANS (Cont.) Black tiger/crevette Headless pc/kg * Europe CFR Bangladesh tigrée/camarón tigre 20% glaze, IQF = Penaeus monodon * * * * Head-on, shell-on 8-12 pc/kg IQF - 80% net weight PD kg/pc Viet Nam FOB Viet Nam 80% net weight (for European mkt) Norway lobster/ Fresh - Whole pc/kg No quotations Spain DDP Netherlands Langoustine/Cigala 4X1.5 kg Nephrops norvegicus Whole 00 No quotations CIF Scotland Whole 1-4 pc/kg = Spain DDP Iceland = = = = = = European lobster/ Live - bulk gr/pc France delivered Ireland Homard européen/ to French vivier Bogavante Homarus gammarus companies American lobster/ Frozen whole cooked Europe CIF Canada Homard américain/ popsicle (canners) < 450 gr/pc CAN = Bogavante americano (markets) > 400 CAN = Homarus americanus 300 gr/pc France DDP Edible crab/tourteau/ Live gr/pc Delivered Ireland Buey de mar live to French Cancer pagurus BIVALVES vivier companies Oyster/Huître/Ostra Live No = France prod. price Ireland/France Crassostrea gigas Mussel/Moule/Mejillón Live - Bottom mussel = wholesale France Mytilus edulis = Netherlands Mytilus galloprovincialis Live - Rope pc/kg = France wholesale Spain Mytilus chilensis IQF - shell-off, 7% glaze pc/kg = Italy CIF Chile Scallop/Coquille Saint- meat, roe-on, IQF, 100% gr/pc No quotations Peru FOB Peru Jacques/Vieira net weight, 10 kg bag (for EU market) Argopecten purpuratus Razor shell/couteau/ IQF cm No quotations Spain CIF Netherlands Navajas - Solenidae 15

16 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area SALMON Atlantic salmon/ Fresh - gutted, head-on 2-3 kg/pc * France DDP Scotland Saumon de l'atlantique/ Superior quality * Salmón del Atlántico > * Salmo salar Fresh - gutted, head-on 2-3 kg/pc * Norway Superior quality * * * > * Fresh - head-on, gutted 1-2 kg/pc Romania/Bulgaria Norway DDP for Eastern Europe Fresh - Whole - Ordinary 2-3 kg/pc Italy FCA Fresh - Whole - Superior 2-3 kg/pc gr/pc = CIF Denmark TROUT Trout/Truite/Trucha Whole, gutted, fresh on ice kg/pc HUF = Hungary ex-farm Hungary Salmo spp. Fillet - farmed gr/pc Italy ex-farm Italy Live - farmed gr/pc Rainbow trout/ Live - farmed gr/pc Truite arc-en-ciel/ Gutted Trucha arco iris Oncorhynchus mykiss FRESHWATER FISH Carp/Carpe/Carpa Live kg/pc HUF = Hungary Hungary Cyprinus spp. Fresh, whole, gutted, head-on kg/pc HUF = EX-FARM Fresh, whole, gutted, head-off kg/pc HUF = Fresh on ice - slices HUF = Fresh on ice - fillets HUF = Bighead carp/carpe à Fresh gutted, head-off kg/pc No quotations grosse tête/carpa Fresh on ice - slices capezona Fresh on ice - fillets Aristichthys nobilis Live kg/pc HUF = Crucian Carp/ Live kg/pc HUF = Carassin/Carpín Carassius carassius Wels/Silure glane/siluro Whole kg/pc HUF = Silurus glanis Nile perch/perche du Fillet gr/pc EU CFR Tanzania Nil/Perca del Nilo Kenya Lates niloticus Uganda Kenya Fillet - skinless, PBI, IWP gr/pc Spain CFR Uganda Nile Tialpia/Tilapia du Fillet - skinless, IQF, PBO 5-7 oz China Nil/Tilapia del Nilo non-treated, 10% glaze Oreochromis niloticus Panga Fillet - thawed = Italy CPT Viet Nam Pangasius spp. Fillet, IQF, white - 20% glaze = Spain CFR Fillet, 100% net weight, IQF gr/pc Fillet, 100% net weight, interlvd NON-TRADITIONAL SPECIES Sturgeon/Esturgeon/ Frozen - Whole kg/pc France CIF France Esturione Gutted 5-7 kg/pc Acipenseridae Fillets gr/pc A.baeri Caviar (Aquitaine) metal boxes

17 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area SEABASS/SEABREAM/MEAGRE Seabass/Bar, Fresh - whole gr/pc Greece FOB Greece Loup/Lubina farmed Dicentrarchus labrax = > = gr/pc Italy CIF = > = gr/pc France CIF = > = gr/pc Spain CIF = > = gr/pc Germany CIF = > = gr/pc Portugal CIF = > = gr/pc UK CIF = > = Fresh - whole gr/pc Greece EXW farmed for Eastern Europe > Fresh - whole - wild Italy CPT Egypt Mediterranean >

18 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area SEABASS/SEABREAM/MEAGRE (cont.) Gilthead seabream/ Fresh - whole gr/pc = Greece FOB Greece Dorade royale/dorada farmed Sparus aurata = > = gr/pc = Italy CIF = > = gr/pc = France CIF = = > = gr/pc = Spain CIF = > = gr/pc = Germany CIF = > = gr/pc Portugal CIF = > = gr/pc = UK CIF = > = gr/pc Italy CIF > >

19 Fish Species Price per kg Reference Product Form Grading Origin Trade Name As stated EUR USD & Area SEABASS/SEABREAM/MEAGRE (cont.) Gilthead seabream/ Fresh - whole gr/pc Greece EXW Greece Dorade royale/dorada farmed for Eastern Europe Sparus aurata > 1000 na Fresh - whole - wild gr/pc Italy FCA Morocco Atlantic > Fresh - whole gr/pc CPT Egypt farmed = Meagre/Maigre Fresh - Whole - wild gr/pc commun/corvina Argyrosomus regius * farmed gr/pc FCA Greece gr/pc CIF > >

20 The European Fish Price Report is a monthly GLOBEFISH publication, prepared by Karine Boisset, Felix Dent and Audun Lem It can be ordered from the FISH INFONetwork: FAO GLOBEFISH (Network coordinator) Viale delle Terme di Caracalla Rome - Italy Tel: (39) Fax: (39) globefish@fao.org Web site: INFOPESCA (Latin America) Julio Herrera y Obes Montevideo - Uruguay Tel: (598) Fax: (598) infopesca@infopesca.org Web site: EUROFISH (Central and Eastern Europe) H.C. Andersens Blvd Copenhagen - Denmark Tel: (45) Fax: (45) info@eurofish.dk Web site: INFOFISH (Asia/Pacific) 1st Floor, Wisma LKIM Jalan Desaria - Pulau Meranti Puchong, Selangor DE Malaysia Tel: (603) / Fax: (603) info@infofish.org Web site: INFOPECHE (Africa) Tour C, 19éme étage, Cité Administrative Abidjan 01 - Côte d Ivoire Tel: (225) Fax: (225) infopeche@aviso.ci Web site: INFOYU (China) Room 514, Nongfeng Building No. 96 East Third Ring Road Chaoyang District Beijing P.R. China Tel: (86-10) Fax: (86-10) infoyu@agri.gov.cn Web site: INFOSAMAK (Arab Region) 71 blvd Rahal El Meskini Casablanca Morocco Tel: (212) Fax: (212) infosamak@infosamak.org Web site : INFOSA - sub-office INFOPECHE (Southern Africa) 89, John Meinert Street- West Windhoek -Namibia Tel: (264) Fax: (264) infosa@infosa.org.na Web site: PRICE REFERENCE (INCOTERMS 2010) EXW ex works FCA free carrier FAS free alongside ship FOB free on board CFR cost and freight CIF cost, insurance and freight CPT carriage paid to CIP carriage and insurance paid to DDP delivered duty paid DAT (new) delivered at terminal DAP (new) delivered at place (DAF, DES, DEQ and DDU have been cancelled) PRODUCT FORM IQF individually quick frozen IWP individually wrapped pack PBI pinbone in PBO pinbone off C&P cooked and peeled H&G headed and gutted FAS PD frozen at sea peeled and deveined PUD peeled, undeveined SYMBOLS Price increased in original currency since last report - Price decreased in original currency since last report = Updated but unchanged price * New insertion Not updated since last issue CURRENCY RATES USD EUR Canada CAD Hungary HUF Norway NOK USA USD 1.29 EU EUR 0.77 Denmark DKK Exchange Rates: 16/09/14 GLOBEFISH Market Reports are available from the GLOBEFISH web site: All rights reserved. No part of FAO/GLOBEFISH European Fish Price Report may be reproduced, stored in a retrieval system, or transmitted in any form or by any means (electronic, mechanical, photocopying or otherwise), without prior permission. Requests for use of this material (including purpose and extent) should be addressed to: GLOBEFISH - Fisheries and Aquaculture Department - Food and Agriculture Organization, Viale delle Terme di Caracalla, Rome, Italy.

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22 Food and Agriculture Organization of the United Nations Fish Products and Industry Division Viale delle Terme di Caracalla Rome, Italy Tel: Fax: