LATEST TRENDS. Proud to be part of a strong international network of seafood trade experts. Issue 04/2014 April 2014

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1 Issue 04/2014 INDEX FOR PRICES Groundfish 13 Flatfish 14 Tuna 14 Small Pelagics 15 Cephalopods 15 Crustaceans 16 Bivalves 18 Salmon 18 Trout 19 Freshwater fish 19 Non Traditional Species 19 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. LATEST TRENDS The world s largest seafood exhibition, now officially renamed Seafood Expo Global, will take place in Brussels from 6 to 8 May. As usual, operators from all continents and regions meet to look for new products, clients or suppliers, and to be updated on current trends in prices and consumer needs. A number of fisheries related events are also organized during the same period in Brussels, in particular on certification and labelling issues, although most operators find it difficult to leave the exhibition for such external events. Certification is increasingly seen by producers and exporters as a competitive tool in gaining access to specific markets or distribution channels. Whereas certification for quality and safety purposes is mostly related to CODEX standards and regulatory requirements, certification for environmental purposes, i.e. eco-labels, relies on voluntary standards. These are mostly based on the three FAO guidelines for ecolabel certification available for marine and inland capture fisheries and for aquaculture. Unfortunately, the vast number of standards and schemes, and the lack of harmonization between them, compels the processors to adopt different schemes for different markets or clients, leading to multiple certifications for mostly similar requirements. This then results in higher costs for Seabass-Seabream- Meagre 20 GLOBEFISH celebrates 30 YEARS! Proud to be part of a strong international network of seafood trade experts Visit our anniversary section at

2 producers, and ultimately for consumers also. Some attempts have been made to harmonize the various standards, including through a memorandum of understanding (MoU) between some of the major standard owners, but in practice only limited progress has been seen so far. Come and visit GLOBEFISH at Seafood Expo Global - Stand GLOBEFISH 30TH Anniversary We are proud to inform you that in July this year GLOBEFISH will celebrate its 30th Anniversary. For this occasion, we have created a special section on our web site to provide our users, special contacts and colleagues the possibility of expressing their opinion on the services offered by GLOBEFISH. New monthly statistics series have also been made available under the 30 th Anniversary section. We wish to thank you for all the support and feedback received over the years. We feel privileged to work with such a strong international network of experts on seafood trade. Visit the 30 th Anniversary section at GLOBEFISH at the Boston Seafood Expo The North American Seafood Expo is the largest seafood trade event in North America. Attracting over buyers and suppliers from more than 100 countries, the Expo enabled FAO to network with private sector and NGO stakeholders. In addition, the Expo presented GLOBEFISH with the opportunity to seek new correspondents from the private sector to expand its company network for its trade publications. This year the show was co-located with the New England Food Show, the largest regional trade event serving buyers and suppliers in the foodservice and retail markets. GROUNDFISH According to the Norwegian Seafood Council, the skrei (spring cod) catches this season have reached record-highs, resulting in an all-time high export figure in addition to substantial sales on the domestic market. During the first quarter this year, tonnes of cod, saithe and haddock were exported, representing a 22% increase over last year. In terms of value, exports amounted to NOK 3.4 billion (+30%). Never before have such high export figures been recorded. The total for all fresh codfish exports was tonnes, corresponding to a 78% increase over last year s figure. The price increased by 5% (to NOK 0.39/kg), although in EUR this corresponded to a decrease of 5%. Norway exports of clipfish were also good with a total of tonnes, representing tonnes more than in the first quarter of Brazil remains the biggest market for clipfish, followed by Portugal. Salted fish exports increased by 22% to a total of tonnes while at the same time the price rose by 10%. Portugal has bought 70% of all Norwegian salted fish so far this year, which was worth 11% more than last year. Exports of frozen cod, saithe and haddock amounted to a total of NOK 1.1 billion during the first quarter, representing an increase of 24% compared with last year s figure. China is the number one destination for these exports. On the EU market it is reported that last month, many customers were looking for cod as a consequence of the lack of availability. Now that the cod campaign has started, it seems that this year the usual April price drop will not occur because buyers prefer to pay a slightly higher price rather than being out of stock. 2

3 The market for frozen raw material from long lines for the production of wet-salted cod fillets (both Gadus Macrocephalus and Gadus Morhua), is reported to be suddenly under pressure with rising prices. On the EU market, consumption of wet-salted cod fillets (Gadus Morhua) from fresh raw material is expected to slow down after Easter. Stockfish hanging in Lofoten Islands is now coming to an end. Producers estimate that the total hung quantity will be lower than last year by 20-30%. Ling consumption is now decreasing and demand is focusing on contracts for later deliveries. Cod - In Poland (FOB, origin: Baltic Sea) Fresh gutted Saithe supply is reported to be insufficient to cover demand. On the Spanish market, prices for PBO Merluccius productus (hake) for the spring season have decreased, as have prices for Alaska pollock blocks Jun-11 Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 Feb During the first quarter of this year, the Russian market was characterized by sufficient volumes of domestically-caught cod, while catches of haddock and capelin have been low. On the wholesale market in Murmansk at the end of March, cod prices have been low and the market is sluggish. Buyers have not yet adjusted to the shift in prices. For example, frozen gutted cod (Russian catch) was at RUB /kg (EUR /kg). Meanwhile, the Russian Federal Veterinary and Phytosanitary Surveillance Service has imposed, from 1 January 2014, limits on imports of groundfish (cod, haddock, and halibut) and pelagic species (mackerel and herring) from Norway. During the first quarter this year, Alaska pollock catches in Russia reached tonnes, which is tonnes more than in the first quarter of Presently the Alaska pollock fishing season in the Okhotsk Sea is coming to an end. Experts report that the usage of the TAC for Alaska pollock up to this point is significantly ahead of past years. These good catches were the result of favourable weather conditions coupled with good preparation prior to the fishing season. Demand has increased both inside and outside the country. At the local level, Alaska pollock remains the main requested species while demand for other species is stable. In Vladivostok, at the beginning of April, Alaska pollock prices ranged between RUB /kg (EUR /kg) while in Moscow, the price fell to RUB 63/kg (EUR 1.29/kg) for Alaska pollock >25 and RUB 65 (EUR 1.33/kg) for Alaska pollock >30. The European Union imported tonnes of frozen surimi in Imports of pollock surimi increased to tonnes (+34% from 2012), while cod-based surimi was nearly 90% more at tonnes. Imports of other surimi from Asia dropped 42% to tonnes because of a sharp decline in landings as well as an increase in demand for fresh fish and surimi in Southeast Asia (INFOFISH). Surimi - In France, origin: Spain Apr-09 Aug-09 Dec-09 Aug-10 Dec-10 Stick 250 gr/pc

4 Monkfish - IQF tails, skinless, 20% glazing - IWP in Spain, origin: Namibia Apr-09 Aug-09 Dec-09 Aug-10 Dec Haddock - H&G, origin: Norway NOK/kg Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 H&G - < 800 gr/pc Feb FLATFISH In 2013, the EU imported tonnes of turbot (psetta maxima, scophthalmidae), 37% less than in The Italian market was the number one importer in Europe with tonnes (-14%), followed by Spain with tonnes (-70%) and France with tonnes (-24%). This month, low demand for turbot in Europe is pushing prices down. This trend is strengthened both by good landings at sea and good growth in farms. Moreover, a further price drop is expected as some farmers are desperate to find buyers for some of their remaining stocks of small-sized turbot. Farms are generally overstocked and no sign of recovery has been seen from the demand side. Turbot - In Spain, origin: Spain Apr-09 Aug-09 Dec-09 Aug-10 Dec-10 Fresh - whole, cultured 0.5-1kg/pc 1-2 kg/pc 2-3 kg/pc 3-4 kg/pc TUNA Tuna - Pacific Ocean USD/kg Fishing in the Western and Central Pacific has continued at a moderately good level. There are good round fish inventories in Bangkok and thus skipjack prices have continued their decline, dropping to USD 1 150/tonne CFR In the Atlantic Ocean, catches 0.50 have not improved since the reopening of the ICCAT exclusion zone on 1 March. Despite the poor fishing, skipjack prices have fallen to EUR 930/tonne ex vessel Abidjan. Yellowfin prices have also decreased to EUR 1 900/tonne. Jul-10 Oct-10 Jan-11 Jul-11 Oct-11 Jan-12 Jul-12 Oct-12 Jan-13 Skipjack Bangkok CFR Skipjack Ecuador, ex-vessel Jul-13 Oct-13 Jan-14 Vessels in the Indian Ocean have continued to target mostly skipjack on FADs. Skipjack prices have continued to drop to EUR 750/tonne FOB Mahe. As local canneries are full, vessels are also transhipping their catches to other markets. Yellowfin prices have been holding firm at EUR 1 800/tonne FOB Mahe due to the low catches

5 Fishing in the Eastern Pacific has slowed down. However, as canneries still have high inventories, prices of both skipjack and yellowfin have dropped to USD 1 150/tonne and USD 2 300/tonne ex vessel Manta respectively. Tuna - Indian/Atlantic Oceans On the European market, skipjack prices have remained at the EUR /tonne CFR Spain level while yellowfin prices have continued to increase, to EUR 2 150/tonne CFR Spain, due to poor supply from the Indian and Atlantic Oceans. The market prices for cooked, double cleaned yellowfin loins have been maintained at USD 8 200/tonne DDP Italy. Jul-10 Oct-10 Jan-11 Jul-11 Oct-11 Jan-12 Jul-12 Oct Tuna - Spanish canneries Yellowfin > 10 kg, Spain CFR Skipjack main sizes, Spain CFR Jul-10 Oct-10 Jan-11 Jul-11 Oct-11 Jan-12 Jul-12 Oct-12 Jan-13 Jul-13 Oct-13 Jan-14 Jan-13 Skipjack, Seychelles, FOB Yellowfin, Seychelles, FOB Skipjack, Abidjan ex-vessel Yellowfin, Abidjan, > 10 kg, ex-vessel Jul-13 Oct-13 Jan-14 Tuna - Loins USD/kg Skipjack - frozen cooked loins, single cleaned, Spain/Italy DDP Yellowfin - frozen cooked loins, double cleaned, Italy DDP Jul-10 Oct-10 Jan-11 Jul-11 Oct-11 Jan-12 Jul-12 Oct-12 Jan-13 Jul-13 Oct-13 Jan-14 SMALL PELAGICS Total Norwegian exports of herring, mackerel and other pelagic fish decreased in value by 12.3% during this year s first quarter compared with last year. Reduced herring exports (-13%) are attributed to lower quotas but also to lower prices. In contrast, generally good demand for mackerel and increased landings in Norway has resulted in higher Norwegian exports, as reported by the Norwegian Seafood Council. According to in 2014, the forecast for the Russian herring catch is estimated at tonnes, of which only tonnes will be Atlantic herring, while the main component will be Pacific herring caught in the Russian Far East. A shortage of tonnes of herring is expected on the Russian market due to the decreased TAC for both Atlantic and Pacific herring. A significant part of Pacific herring catches is for exports, while Atlantic herring is intended more for processing companies. Pacific herring is generally smaller in size, lower in fat content, and more difficult to deliver from the Russian Far East to the European part of Russia for processing. Russia has traditionally been the leading importer and consumer of herring, and the processing companies have to decide either to wait for an improvement of the Atlantic herring situation, or use Pacific herring, which is currently exported in large volumes (around tonnes) from the Russian Far East to the South-East Asian region. On the wholesale market in Moscow, at the beginning of April, the Pacific herring (large and fat, >25 cm) price started to rise from its lowest point of RUB 28/kg (EUR 0.57/kg) to RUB 33/kg (EUR 0.67/kg). Demand is described as dynamic with an upward price trend. It is forecast that in May the price will reach RUB 35/kg (EUR 0.71/kg). With regard to Atlantic herring, the price has been stable 5

6 and even decreased. For example, the price of Atlantic herring from the Faroe Islands >350 ranged from RUB/kg ( ) with a declining price tendency due to lower demand for this size. Atlantic herring >400 (Faroe Islands) reached its peak price in the range of RUB/kg ( ) and there are no expectations of a price decline for this size. On the wholesale market in Vladivostok, the price of Pacific herring is stable. In March, Iceland, Norway and the Faroe Islands reached an agreement with the EU and set the total blue whiting quota at 1.2 million tonnes. This is a considerable increase from the tonne TAC last year, but the stock is in a good condition and this quota is still well within the latest recommendations from the scientists. The spawning stock biomass has been estimated at 6.7 million tonnes. Furthermore, it was also agreed to set the quota for spring spawning herring in accordance with the ICES recommendations, and the 2014 TAC has consequently been set at tonnes. CEPHALOPODS EU squid imports in 2013 decreased by 5% compared with the previous year and totalled tonnes. Spain accounted for 37% of total EU imports (although imports decreased by 17%) and Italy for 32% (with an increase of almost 10%). Major suppliers were Spain, Falkland Islands, China, India and Thailand. South Africa saw its exports to the EU decrease by 34% in Squid - In Spain, origin: Falkland Islands May-13 Jun-13 Jul-13 Sep-13 Oct-13 Nov-13 Jan-14 Block FAS: 9-12 cm Feb-14 Mar In South Africa, the local squid fishery has closed for April, May Squid - In Italy, origin: South Africa and June, to eliminate disturbance Squid - Whole, FAS, size M of the squid spawning areas, which are inshore. The hope is that the squid will be encouraged to settle without being heavily targeted as soon as they arrive There is virtually no stock 3.00 available at the moment and prices are just indicative. The very small quantities being landed included few small, juvenile squid, creating concern for the future. Some observers feel that environmental conditions on the South African south coast appear to have deviated from the historical norm, with higher surface water temperatures and less offshore wind. This is the third year of extremely poor catches, and a potential request to the government to provide support to an industry in distress is being discussed. Apr-09 In 2013 the volume of octopus imported by the European Union increased by 10% compared with 2012 to reach tonnes (of which tonnes were frozen/dried/salted/in brine, tonnes were live/fresh/chilled and tonnes were prepared and preserved products). However, in terms of value, imports dropped Aug-09 Dec-09 Aug-10 Dec-10 6

7 by almost 24%. Italy accounted for 39% of total EU imports and Spain 35%. Morocco became by far the number one supplier to the EU in 2013 with tonnes, corresponding to a remarkable 80% increase over the 2012 figure. CRUSTACEANS The new Norway lobster season has just started and demand is reported to be good on all markets. Norway Lobster - in Spain, origin: Iceland 5-7 pc/kg More favourable weather conditions have led to better landings of European-caught crustaceans - such as crab and European lobster - and to an easing of prices towards the end of March Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 Feb Last year, Canadian lobster (Homarus americanus) fishermen were unsatisfied with the low-side prices of the spring season. This year, this situation is not likely to be repeated. Indeed, stocks in Europe are lower compared with 2013 and the North American market for tails is reported to be short of products. Consequently, demand is expected to be high at the beginning of the new season (on 1 May) and prices are estimated by Canadian producers to be higher than last year. On the Atlantic side of Canada, the winter was particularly hard this year and waters are still very cold. Therefore, it is probable that the season will start slowly. From the buyer side, the market is reported to be difficult and demand on the European market remains low as it is an expensive luxury product. In addition, some retail chains, in particular in Germany, continue to refrain from selling lobster because of animal welfare concerns relating the manner in which the lobster is killed. Crab (Cancer pagurus), origin: France American Lobster - in Europe, origin: Canada CAN/kg Apr-09 Apr-09 Aug-09 Aug-09 Dec-09 Dec-09 Aug-10 Aug-10 Dec-10 Dec-10 European Lobster, in Europe, origin Ireland Apr-09 Aug-09 Dec-09 Aug-10 Dec kg/pc < 400 gr/pc > 400 o u t o f s e a s o n / gr/pc

8 Shrimp Vannamei prices have decreased in the last few weeks, both at raw material level and at export level. The market is preparing for some adjustments. Whiteleg shrimp - Penaeus vannamei Head-on, shell-on, for EMP, origin: Ecuador (fob) USD/kg pc/kg On the one hand, supply is expected to increase; harvests in Central America will start in a few weeks, the new season s crop (expected in the coming months) from Thailand, Malaysia and Viet Nam is anticipated to be improved and Ecuador has reported good growth in ponds. On the other hand, demand is low worldwide. US importers have restricted their sales to the minimum necessary in anticipation of a drop in prices, creating serious concern among sellers during the Boston Seafood Expo. Demand from the European market and the Japanese market also remains weak. In Thailand, the shrimp shortage of previous months has forced some processors to close or to lower their capacity. The Thai New Year (13-15 April) will bring a further decrease in activities, while demand is generally expected to be low. In Argentina, catches of Pleoticus muelleri from provincial waters have begun to decrease. Some vessels have already stopped going to sea and it is foreseen that the entire fleet will soon stop fishing completely. On the other hand, fishing in national jurisdiction waters - where most Argentina red shrimp have been landed in recent years - is not expected to re-open before mid- May. On the European market, prices have increased slightly for those sizes for those stocks that have become scarce. However, in general, prices were stable during the first quarter of this year. This is mainly because stocks presently Apr-09 Black Tiger - In Europe, origin: Bangladesh USD/kg Apr-09 Aug-09 Aug-09 Dec-09 Dec-09 Aug-10 Aug-10 Dec-10 Dec-10 Whiteleg shrimp - Penaeus vannamei Head-on, shell-on, In Spain, origin: Central America Jun-12 Oct-12 Feb-13 Jun-13 Argentina Red Shrimp - Pleoticus muelleri Head-on, shell-on, In Spain, origin: Argentina Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 Oct-13 Bangladesh BT, HL 16/20, c&f Feb-14 Feb pc/lb > pc/kg > > > >

9 available in Europe are land-frozen products of minor quality and lower price than frozen on-board products. From mid-april, the first quantities of March frozen-at-sea products from provincial waters are expected to reach the European market, although supply is foreseen to be limited. Annual figures show that in 2013 the European Union imported tonnes of shrimp ( tonnes in terms of extra-eu trade). This corresponds to a slight decrease of 4% in volume compared with the previous year. However, with an average import unit value of EUR 6.38/kg (EUR 6.00/kg in 2012), total imports increased slightly in value. Ecuador remained the number one supplier to the EU in 2013 with an 11% market share, although the volume of its exports to Europe decreased by 10% compared with 2013 as Ecuador focused on other markets during the shortage period. India consolidated its position as second supplier to the EU with almost a 10% increase of its shrimp exports in volume, just before Greenland and Argentina. BIVALVES Oyster - Crassostrea gigas, origin: France - Source Insee EUR/dozen Mar-08 Jul-08 Nov-08 Mar-09 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Monthly average consumer prices in metropolitan France - Medium-caliber cupped oysters Nov-12 Mar-13 Jul-13 Nov-13 Mar The French National Institute of Statistics and Economic Studies (INSEE) indicates that in March this year the average consumer price for medium-caliber cupped oyster was at EUR 9.71/dozen, after it crossed the threshold of EUR 10/dozen in February. Since 2008, when juvenile mortality started in France, prices have steadily increased from EUR 6.30/dozen in February 2009 to EUR 10.08/dozen in February this year. Irish oyster estimates show an increase in production for 2013 with a total volume of tonnes compared with tonnes in This is possibly due to more oysters being sold at adult size rather than half grown size. In 2013, the number one oyster exporter in Europe remained France with tonnes, followed by Ireland with tonnes. On the French market this month, there is a predominance of Irish and Spanish mussels because of a lack of Bouchot and Dutch mussels following the close of the production season. Irish organic mussels are in demand to fill the gap left by lower supplies of Mytilus edulis while waiting for the next season. In 2013, France was the world number one importer of mussels with tonnes (-5% on 2012 figures) followed by Italy with tonnes, mainly of Dutch and Spanish origin. Bouchot mussel - France Insee Mar-09 Jul-09 Nov-09 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Nov-12 Monthly average consumer prices in metropolitan France Mar-13 Jul-13 Nov-13 Mar

10 SALMON As of early, export prices of Norwegian salmon had remained uncharacteristically stable for some five weeks, and in mid-april Easter demand appears to be driving prices up once again. Good growing conditions in Norway has seen more plentiful supply in recent weeks, but this is currently being absorbed by the market without having too much of an effect on prices. However, there are reports of consumer resistance to high prices in some key markets such as France. Most analysts now predict some softening of prices in the second half of the year following the seasonal increase in harvest volumes, but a relatively high level is expected to be maintained. Boosted by high prices, Norway's salmon exports in the first quarter of 2014 amounted to NOK 10.7 billion, according to figures from the Norwegian Seafood Council. This represents a growth of 32%, or NOK 2.6 billion, from last year. Exports of salmon to the EU, measured in value, were 31% higher in the first quarter of 2014 compared with the first quarter of 2013, with a 3% increase in volume. Exports to Eastern Europe were 5% higher by value for the same period, despite being 20% down by volume. For the same period, the value of exports to Asia increased by 49% compared with the same period last year, with a 14% increase in volume. Salmon - In Europe, origin: Norway Mar-09 Jul-09 In March, Norway exported salmon worth a total of NOK 3.7 billion. This is an increase of NOK 790 million compared with March last year. TROUT Norwegian exports in the first quarter of 2014 were worth NOK 632 million, setting an all-time record, according to the Norwegian Seafood Council. This 30% higher in value terms than the same period in The record export value was posted even as volume for the same period fell by 3%, pointing to the extremely high price level being seen in the trout market presently. Exports to Russia, which represents the biggest trout market with a share of close to 50% of total trout exports, dropped by 16% in volume in the first quarter, while exports to Japan, the second-largest market, increased by 54%. FRESHWATER FISH After following a general downward trend for the past few years, freshwater fish prices have risen steadily over recent months. In some cases the increase has been extreme and very rapid. This trend reversal was expected sooner or later, and some stakeholders are now predicting that prices for certain products will continue to rise and reach levels last seen a few years ago. Nov-09 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Mar-12 Jul-12 Fresh, gutted, head-on, 3-6 kg/pc Nov-12 Mar-13 Jul-13 Nov-13 Mar

11 Heavy losses for pangasius farming companies in Viet Nam in the last three years have resulted in a substantial decrease in farming. Previously, pangasius farming had been characterized for years by overproduction and downward pressure on prices, with farmers losing money. Now, the number of farms has dropped considerably, creating a healthier supply-demand balance. However, the present situation is characterized by a shortage of raw material, coupled with continuing overcapacity in the large processing factories, which are still numerous. This shortage in supply, along with solid demand from the USA and Russia, is pushing prices up (more than 10% since January so far this year). Prices are not likely to decrease until the next harvest in June and it is not yet clear whether they will go down at all in the summer. The fact that there are now much fewer small farmers, with production largely owned by the factories, may allow for better control of prices. In 2013, the export value of pangasius from Viet Nam to the EU, the major market, declined by nearly 10% compared with Pangasius - in Spain, origin: Viet Nam USD/kg In China, there is a shortage of 1.50 tilapia raw material which will last until the next harvest. Prices are reported to be at a recordhigh level, which is affecting consumption. Due to the cold weather after the Chinese New Year, farmers stocked fry more than a month later than usual this year. Consequently the new tilapia harvest is expected to be delayed this year and is likely to be in July or August. So although prices are extremely high, a significant decrease is not anticipated until mid-summer. Apr-09 Aug-09 Demand for fresh Nile perch fillet remains firm. Catches in Lake Victoria are reported to be very low and factories lack sufficient raw materials for processing. As a result, the availability of frozen fillets is very limited and prices continue to increase, with no sign of a change in the coming months. Dec-09 Aug-10 Dec-10 Fillets - interleaved, 20% glaze, skinless, boneless, belly-off Fillets - IQF, white, 20%, 1kg poly bag 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 There have been no significant price changes for carp in Hungary although the supply of live fish has increased. Apr-09 Aug-09 Dec-09 Aug-10 Dec-10 SEABASS/SEABREAM/MEAGRE Early signs in 2014 suggest an improved price situation this year for seabass and seabream producers, as a result of high demand and strong sales of large-sized bream in the first quarter of 2014 decreasing the availability of bream in the market. In March 2014, prices for Greek-produced bass and bream on the Italian market were 11

12 higher than has been seen since the early 2000s. More stable, stronger prices for bream in the coming months is expected due to decreasing supply. However, the Greek aquaculture sector will take some time to recover from one of its worst ever years, as serious cash flow problems continue and banks push for consolidation in an attempt to recover their loans. As Seabass and Seabream - In Italy, origin: Greece Apr-09 Aug-09 Greek companies struggle with these problems, Turkish companies with better financial capabilities are expected to meet the gap in supply, particularly for sized bream as well as for and sized bass, at least for the near future. Dec-09 Aug-10 Dec-10 Seabass fresh whole gr/pc Seabream fresh whole gr/pc Meagre - In Italy, origin: Egypt gr/pc fresh whole Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 Feb-14 12

13 Fish Species Product Form Grading Price per kg Reference Trade Name As stated EUR USD & Area GROUNDFISH Origin 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 Fillet 4-8 oz FOB Russia 4-8 oz = CIF Spain = (origin: Barent Sea) H&G 1-3 kg/pc FOB Russia 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 = CIP 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 productus Fillet, PBO Spain CIF USA Minced block = Hoki - Grenadier/ Fillet block = New Zealand Grenadier/Merluza Macruronus novaezelandiae Alaska pollack/lieu Fillet (for baby food) No quotations Europe DAP USA de l'alaska/colín de Alaska Theragra chalcogramma Surimi (Alaska pollack) Stick - Paprika 250 gr/pc France CFR Spain Saithe/Lieu noir/ Minced A No quotations Europe DDP Norway Carbonero (Pollock, Coley) (for baby food) 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 Produced from fresh raw material Molva molva high quality 13

14 Fish Species Product Form Grading Price per kg Reference Trade Name As stated EUR USD & Area FLATFISH Origin Turbot/Rodaballo Fresh - whole kg/pc Spain CIF Spain Psetta maxima cultured Fresh - whole kg/pc Netherlands wild > Fresh - whole kg/pc Italy FCA Spain kg/pc Netherlands > Sole/Sole/ Fresh - whole < 170 gr/pc Spain CIF Lenguado wild Solea vulgaris = Fresh - whole No No No No Fresh - whole No. 3 na Italy CIF No. 4 na 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 Fillet na CIF Netherlands Fresh - whole FCA 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 14

15 Fish Species Product Form Grading Price per kg Reference Trade Name As stated EUR USD & Area TUNAS/BILLFISHES (Cont.) Origin 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/pc na Spain CIF Eastern Pacific Bigeye - whole > 10 kg DAT Indian Ocean Skipjack - whole > 1.8 kg/pc Atlantic Ocean Yellowfin - whole 3-10 kg/pc DAT > Yellowfin - loins CIF Eastern Pacific Skipjack - loins Ocean Skipjack - pre-cooked loins Ecuador FOB Ecuador Yellowfin - pre-cooked loins single cleaning (for European mkt) double cleaning Skipjack - whole, raw material kg/pc Skipjack - canned 170 gr net weight chunks in brine 120 gr drained weight Skipjack - canned 185 gr net weight chunks in brine 130 gr drained weight Skipjack - canned 170 gr net weight shredded in soyabean oil 120 gr drained weight Skipjack - canned 185 gr net weight shredded in soyabean oil 130 gr drained weight Skipjack - canned 170 gr net weight shredded in soyabean oil 120 gr drained weight Skipjack - canned 195 gr net weight Germany CFR solid pack in brine 150 gr drained weight Swordfish/Espadon/ Seafrozen kg/pc Spain FOT Spain Pez espada Xiphias gladius SMALL PELAGICS Mackerel/Maquereau/ Fresh - whole Italy FCA 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/ Fresh - whole Italy CPT Croatia Sardina FCA Spain Sardina pilchardus 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)

16 Fish Species Product Form Grading Price per kg Reference Trade Name As stated EUR USD & Area CEPHALOPODS Origin Squid/Encornet/Calamar Whole cleaned IQF < Germany CFR India Loligo duvaucelli 10% glaze < Todarodes pacificus cleaned tubes < * China 20% glaze < * Dosidicus gigas Fillet - clean, pack in block A No quotations Europe CFR Peru and bulk bag Chile Tentacles - bailarina cut, pack A Peru in block and bulk bag Raw wings - skin-on, pack A in block and bulk bag Chile Octopus/Poulpe/Pulpo Whole T = Spain DDP Morocco Octopus vulgaris T = T = T = T = T = T = T = T = Whole - FAS, no glaze T * Morocco FOB T for Spanish mkt T T T 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 < * Germany CFR India Sepia 20% glaze < * 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

17 Fish Species Price per kg Reference Product Form Grading Trade Name As stated EUR USD & Area Origin CRUSTACEANS (Cont.) Whiteleg shrimp/ Headless, shell-on * Germany CFR India Crevette pattes 100% net weight * blanches/camarón * patiblanco * Penaeus vannamei * * * Argentine red shrimp/ Head-on, shell-on > pc/kg = Spain EXW Argentina Salicoque rouge/ > d'argentine/camarón > langostín argentino > Pleoticus muelleri > FAS CIF = = Black tiger/crevette Head-on, shell-on < Europe CFR Viet Nam tigrée/camarón tigre 100% net weight < Penaeus monodon < Head-on, shell-on 6-8 kg/pc Bangladesh 25% glaze Headless = 20% glaze, IQF = = = Norway lobster/ Fresh - Whole pc/kg Spain DDP Netherlands Langoustine/Cigala 4X1.5 kg Nephrops norvegicus * > 40 pc/kg No quotations Scotland Whole = CIF = = = = = = 17

18 Fish Species Product Form Grading Price per kg Reference Trade Name As stated EUR USD & Area CRUSTACEANS (Cont.) Origin Norway lobster/ Whole 1-4 pc/kg * Spain DDP Iceland Langoustine/Cigala * Nephrops norvegicus * (cont.) * * * * European lobster/ Live - bulk gr/pc France delivered Ireland Homard européen/ to French vivier Bogavante companies Homarus gammarus American lobster/ Frozen whole cooked Out of season Europe CIF Canada Homard américain/ popsicle (canners) < 450 gr/pc Bogavante americano (markets) > 400 Homarus americanus 300 gr/pc France DDP Edible crab/tourteau/ Live gr/pc Delivered Ireland Buey de mar live to French Cancer pagurus vivier companies BIVALVES 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 na Peru FOB Peru Jacques/Vieira net weight, 10 kg bag (for EU market) Argopecten purpuratus Razor shell/couteau/ IQF cm Spain CIF Netherlands Navajas - Solenidae 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 No quotations Romania/Bulgaria 4-5 DDP 6-7 for Eastern Europe Fresh - Whole - Ordinary 2-3 kg/pc Italy FCA Fresh - Whole - Superior 2-3 kg/pc IQF portion gr/pc CIF Denmark Fillet Trim C, IQF, VP na Europe CIF Chile Scrapped meat na 18

19 Fish Species Product Form Grading Price per kg Reference Trade Name As stated EUR USD & Area TROUT Origin 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 North African catfish/ Fresh - whole, gutted, head-on kg/pc HUF * Hungary Hungary Poisson-chat nord- Fresh head-off kg/pc HUF * EX-FARM africain/pez-gato Fresh on ice - fillets, skinless HUF Clarias gariepinus Fresh on ice - slices HUF * Carp/Carpe/Carpa Live kg/pc HUF Cyprinus spp. Fresh, whole, gutted, head-on kg/pc HUF 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 HUF grosse tête/carpa Fresh on ice - slices HUF = capezona Fresh on ice - fillets HUF Aristichthys nobilis Live kg/pc HUF * Nile perch/perche du Fillet gr/pc Spain DDP Uganda/ Nil/Perca del Nilo = Tanzania Lates niloticus gr/pc EU CFR Fillet - skinless, PBI, IWP gr/pc Spain CFR Tanzania Nile Tialpia/Tilapia du Fillet - skinless, IQF, PBO 5-7 oz = China Nil/Tilapia del Nilo non-treated, 10% glaze Oreochromis niloticus Gutted and scaled gr/pc Europe CFR 10% glaze, IWP > Panga Fillet - thawed Italy CPT Viet Nam Pangasius spp. Fillet, IQF, white - 20% glaze Spain CFR Fillet, interleaved, white - 20% gr/pc glaze, skinless, boneless, bellyoff, treated Fillet - skinless, white, PBO, * belly-off, interleaved, 20% glaze treated 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

20 Fish Species Price per kg Reference Product Form Grading Trade Name As stated EUR USD & Area Origin 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 >

21 Fish Species Price per kg Reference Product Form Grading Trade Name As stated EUR USD & Area Origin 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 = Greece EXW = for Eastern Europe = = = > 1000 na Fresh - whole - wild gr/pc Italy FCA Morocco Atlantic >

22 Fish Species Price per kg Reference Product Form Grading Trade Name As stated EUR USD & Area Origin SEABASS/SEABREAM/MEAGRE (cont.) Gilthead seabream/ Fresh - whole gr/pc = Italy CPT Egypt Dorade royale/dorada farmed Sparus aurata = Meagre/Maigre Fresh - Whole - wild gr/pc commun/corvina = Argyrosomus regius * farmed gr/pc FCA Greece > gr/pc = CIF > = > * 22

23 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 1.39 EU EUR 0.72 Denmark DKK Exchange Rates: 11/04/14 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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25 EUROPEAN PRICE REPORT GLOBEFISH HIGHLIGHTS Globefish EPR and GH package The GLOBEFISH Highlights provides a quarterly detailed update on market trends for a variety of commodities. Key market data is presented in time series or graphs with analysis of trends and news for commodities such as tuna, groundfish, small pelagics, shrimp, salmon, fishmeal/ fishoil, cephalopods, bivalves 12 issues per year 4 issues per year and crustaceans. Subscription to the monthly European Price Report includes subscription to the Globefish Highlights 100 (electronic/pdf version by ) I would like to subscribe to the European Price Report and the Globefish Highlights I will pay the total of 100 By bank transfer Please provide the following information: NAME:... COMPANY:... POSTAL ADDRESS:... CITY:... COUNTRY:... TEL.:... FAX:... Date:.../.../... The European Fish Price Report provides monthly prices on more than 400 fish products and an overview of the major trends for each commodity on the European market. An extensive correspondent network reports on current market prices in the European market from both capture fisheries and aquaculture. By credit card Please return to: EUROFISH HC Andersens Boulevard Copenhagen V Denmark Tel: Fax: info@eurofish.dk Web site:

26 FoodandAgricultureOrganizationoftheUnitedNations FishProductsandIndustryDivision VialedeleTermediCaracala 00153Rome,Italy Tel: Fax: