LATEST TRENDS. Issue 08/2014 August 2014

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1 Issue 08/2014 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 Russian ban on fish imports On 7 August, Russia declared a one-year embargo on food, including fish and seafood products, from the EU, the USA, Canada, Australia and Norway in retaliation for Western economic sanctions over Ukraine. In Europe, there is a lot of concern over the future consequences of the ban but also questions and uncertainty about the countries concerned (Iceland is excluded from the embargo, as well as Greenland and the Faroe Islands, despite their relationship to the EU) and the products affected (the Russian Federal Fisheries Agency also suggested banning canned and processed fish imports, and lifting the ban on salmon smolt). Suppliers that are particularly dependent on the Russian market, such as the Scottish mackerel fleet and the Norwegian salmon industry, are expected to be the most directly affected (see small pelagics, salmon and trout sections). At the national level, political leaders are discussing solutions and investigating alternative markets. On 14 August, the European Commission announced its intention to finalize a full analysis of the Seabass-Seabream- Meagre 17

2 potential impact of the Russian sanctions on the EU sectors concerned together with an assessment of the potential policy responses as soon as possible. It is anticipated that the Russian ban will force the country to increase its imports from other regions and more particularly from Latin America. The EU announces deductions from 2014 fishing quotas The ten Member States (Belgium, Denmark, Greece, Spain, France, Ireland, the Netherlands, Poland, Portugal and the United Kingdom) that declared having exceeded their fishing quotas in 2013 will face reduced fishing quotas for those stocks in The European Commission announces these deductions on a yearly basis to immediately address the damage done to the stocks overfished in the previous year and ensure the sustainable use of common fishery resources by Member States. Compared with last year, 22% fewer deductions were made. For more information: Regulation (EC) No 1224/ GROUNDFISH According to the Norwegian Seafood Council, exports of fresh Norwegian cod, including fillets, during the first six months of 2014 increased in value by 40% compared with the previous year, to a total of NOK 1.2 billion. Exports of frozen Norwegian cod, including fillets, also increased in value by 30%, to a total of NOK 1.1 billion. Measured in value, 97% of fresh and 60% of frozen fish were exported to the EU. The remaining frozen cod was exported primarily to China. Norwegian exports of clipfish also increased in value during the first half of the year to reach a total of NOK 1.5 billion. The value of exports of salted fish, including fillets, was up by 25% during the first half of the year, to a total export value of NOK 690 million, of which NOK 652 million was accounted for by cod exports. South European importer stocks of wet-salted cod fillets from frozen raw material (Gadus macrocephalus) and wet-salted cod fillets (Gadus morhua) from fresh raw material are reported to be high. Importers are waiting for the start of the period of high demand in September, hoping for the cold weather which normally means increased consumption of salted cod. Catches of Molva molva from the Faroe Islands are good and an increase in demand for wet salted ling fillets is expected for the autumn due to the workable price. Presently, Italian importers of stockfish are checking the quality of the 2014 production in order to plan the new season s sales. The quality is reported to be good so far but big sizes are still not fully dried. Cod - In Poland (FOB, origin: Baltic Sea) Fresh gutted Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13 Oct-13 Feb-14 Jun

3 Surimi - In France, origin: Spain Stick 250 gr/pc Monkfish - IQF tails, skinless, 20% glazing - IWP in Spain, origin: Namibia FLATFISH Turbot - In Spain, origin: Spain Fresh - whole, cultured 0.5-1kg/pc 1-2 kg/pc 2-3 kg/pc 3-4 kg/pc As is usual at this time of year, demand for large-sized turbot (>2 kg/pc) continues to increase, but a scarcity of fish is leading to a further price rise. Demand for medium-sized and small-sized turbot has also increased but availability remains good and prices are quite stable. TUNA With the FAD closure in force in the Western and Central Pacific, fishing is poor in most areas. Although canneries are well stocked and demand is slowing down, the skipjack price in Bangkok continues to increase and currently ranges from USD to 1 850/tonne CFR. On 29 July, the IATTC Veda closure began in the Eastern Pacific and will be in force until 28 September. 40% of the vessels are tied up during this period. Canneries are presently reporting healthy inventories. Tightening supply and the Veda impact have resulted in an increase in the skipjack price to around USD /tonne and in the yellowfin price to USD 2 500/tonne ex vessel Manta. Fishing in the Atlantic Ocean is reported to be good, with the Tuna - Pacific Ocean USD/kg Skipjack Bangkok CFR Skipjack Ecuador, ex-vessel Nov-10 Feb-11 May-11 Nov-11 Feb-12 May-12 Nov-12 Feb-13 May-13 Nov-13 Feb-14 May-14 Tuna - Indian/Atlantic Oceans Nov-10 Feb-11 May-11 Nov-11 Feb-12 May-12 Nov-12 Feb-13 May-13 Nov-13 Feb-14 May Skipjack, Seychelles, FOB Yellowfin, Seychelles, FOB Skipjack, Abidjan ex-vessel Yellowfin, Abidjan, > 10 kg, ex-vessel

4 majority of catches consisting of yellowfin and bigeye. Most of the skipjack is being transhipped to Europe, and local canneries are still short of raw material. Skipjack and yellowfin prices have increased respectively to EUR 1 370/tonne and EUR 2 400/tonne ex vessel Abidjan. Vessels in the Indian Ocean have reported a slight improvement in catches. However, local canneries continue to be short on inventories. Consequently, the skipjack price has increased to around EUR /tonne FOB Mahe while the yellowfin price has increased to EUR 2 400/tonne. Because of low supply from the Indian and the Atlantic oceans, both skipjack and yellowfin prices on the European market have continued to increase to reach EUR 1 550/tonne and EUR 2 550/tonne Tuna - Spanish canneries Nov-10 Feb-11 May-11 Nov-11 Feb-12 May-12 Nov-12 Feb-13 May-13 Nov-13 Feb-14 May-14 Tuna - Loins USD/kg CFR Spain respectively. The market price for cooked, double cleaned yellowfin loins remains at USD 8 300/tonne DDP Italy. SMALL PELAGICS Yellowfin > 10 kg, Spain CFR Skipjack main sizes, Spain CFR Nov-10 Feb-11 May-11 Nov-11 Feb-12 May-12 Nov-12 Feb-13 May-13 Nov-13 Feb-14 May-14 The European market for small pelagics is seasonally quiet due to the holiday season in most European countries. Buyers are generally well-covered for the coming months, despite slow production in most fisheries. According to the Holterman report, in Iceland the total mackerel catch reached tonnes against the upwards adjusted quota of tonnes. These fish are destined mainly for freezing/human consumption. It is reported that fishing for spring spawning herring may be somewhat postponed this season as the focus will be on mackerel. In Denmark the official total sprat catch reached tonnes (compared with tonnes at the end of August last year). Sellers have remained cautious. Fishing effort targeting raw material for fishmeal and fish oil in Norway is currently limited. However, the Holterman report indicates that two Norwegian purse seiners have departed for the Jan Mayen zone to search for capelin together with one of the Norwegian research vessels. This will be the first research since the 80s, while the last catches in the area were in Research results will be presented in Copenhagen from 26 August to 1 September before the ICES recommendation on mackerel for 2015 is published at the beginning of October. The Norwegian Seafood Council reports that during the period January-July 2014 herring exports decreased by NOK 104 million compared with 2013 for a total of NOK 1.4 billion. Russia and Germany have been so far the largest markets for Norwegian herring, but the Russian ban is already Skipjack - frozen cooked loins, single cleaned, Spain/Italy DDP Yellowfin - frozen cooked loins, double cleaned, Italy DDP

5 affecting Norwegian exports (the Faroe Islands and Iceland are exempt from the ban). Russia, the number one importer of Norwegian herring, imported tonnes of herring from January to July this year. Total Norwegian mackerel exports have increased by NOK 243 million to take the total to NOK 957 million with China and Nigeria as the biggest markets. Russia is the fourth largest market for Norwegian mackerel, just after the Netherlands, and consequently Norwegian mackerel exports are also expected to suffer as a result of the Russian ban in the coming months. The Shetland Times reports that the Russian embargo could cause a loss of about GBP 16 million corresponding to annual mackerel exports from Scotland to Russia, and have knock-on effects on the salmon market. Industry representatives met the Scottish fisheries authorities and a five-point plan to protect the pelagic fishing sector has already been agreed, including: targeting of new and emerging overseas markets, boosting domestic sales to Scottish and UK retailers and stimulating consumer-side domestic demand, working with the UK government on export insurance and working with the EU to implement banking of quotas (in order to limit or postpone quotas of this year rather than to catch fish that cannot be sold). On 18 August, the European Commission repealed the measures adopted against the Faroe Islands in August 2013 following their unsustainable fishing of Atlanto-Scandian herring. The measures imposed at the time will be lifted as of 20. CEPHALOPODS In South Africa squid catches have been moderate at around kg per vessel per fishing day. This year, winter (May-July) weather conditions have been tough, but it nevertheless seems that the three-month closure (April-May-June) has had a positive effect. It is interesting to note that there are only small price differences between the various grades. However, this situation may change should volumes increase. Squid - In Italy, origin: South Africa Squid - In Spain, origin: Falkland Islands Squid - Whole, FAS, size M 7.50 Demand for giant squid (Dosidicus gigas) products of Chilean and Peruvian origin has been weak over the past weeks. Our correspondent reports that the main reasons for this are: overstocks of illex squid, the arrival of the summer vacation period when purchases decrease, competition from Chinese products (big volumes and low prices) and international factors such as the Ukrainian conflict, the Thai political situation, Russian sanitary restrictions and the economic crisis. Sep-13 Oct-13 Nov-13 Jan-14 Feb-14 Mar-14 May-14 Block FAS: 9-12 cm Jun-14 Jul

6 CRUSTACEANS European-caught crustaceans prices such as those of crab and European lobster continue to ease due to clement weather and good fishing. 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 Oct-12 Feb-13 Jun-13 Oct-13 Feb-14 Jun-14 Shrimp Whiteleg shrimp - Penaeus vannamei Head-on, shell-on, for EMP, origin: Ecuador (fob) USD/kg pc/kg 8.50 Prices for vannamei have increased further over the last few weeks and demand from the European market remains sluggish this month. In China, disappointing production, plus the damages caused by the recent strong typhoon, are pushing shrimp prices up, which could have a global impact. INFOFISH reports that, according to Indian packers, European buyers are presently reluctant to make purchases, claiming that Indian prices for shell-on vannamei are higher than the Vietnamese products an explanation Indian exporters find difficult to understand. Although Viet Nam shrimp exports decreased during the second quarter of 2014, the Viet Nam Association of Seafood Export and Producers (VASEP) reported this month 6

7 that by the end of 2014 total seafood exports may exceed USD 7 billion, thanks mainly to the surge in shrimp exports. Shrimp exports in the first half of 2014 were very good, totaling around USD 1.8 billion - a 62% increase on last year s figures. During the period January-April, Viet Nam shrimp exports to the European market increased in terms of volume (+17%), as did those from Ecuador (+24%) and India (+22%). However, during the period under survey, Thailand saw its exports to the EU collapse by 63% in volume, while Chinese exports dropped by 25%. In July, Argentina red shrimp catches were down compared with June landings mainly due to adverse weather conditions. Meanwhile, Asian markets and more particularly China started to increase their demand for Pleoticus muelleri. As a consequence of lower supply from Argentina and higher demand from Asia, prices at origin started to increase and volumes shipped to the European market began to Argentina Red Shrimp - Pleoticus muelleri Head-on, shell-on, In Spain, origin: Argentina drop. Against all expectations, prices which had decreased somewhat on the European market at the beginning of July and which were expected to drop further are now stable. The price trend on the European market in the coming weeks will depend largely on future landings and future purchases from the Asian market. Oct-12 BIVALVES Feb-13 Jun-13 Oct-13 Feb-14 Jun-14 > pc/kg > > > > On the French market, French Bouchot mussels are widely available and, following the start of the bottom Barfleur mussel season on 15 June, there is a predominance of French mussels on the market. The Dutch mussel season also commenced last month and the first auction of new season s mussels in Yerseke took place in mid-july. In Spain the autonomous region of Galicia has been hit again by lipophilic biotoxin, and the decision has been taken to prohibit the capture of mussels for 18 floating nurseries out of 55. The red tide had diminished last July but it has appeared again in recent days. Oyster prices remain high because of reduced supply. Mortality rates continue to be around 50-80% for juveniles and 20-30% for 18-month Mussel Bouchot - origin: France - Source Insee Jul-09 Oyster - Crassostrea gigas, production price, origin: Ireland/France Nov-09 Mar-10 Jul-10 Nov-10 Mar-11 Jul-11 Nov-11 Live - No. 3 Aug-08 Dec-08 Apr-09 Mar-12 Jul-12 Nov-12 Mar-13 Monthly average consumer prices in metropolitan France Jul-13 Nov-13 Mar-14 Jul

8 oysters. Mussel production has also dramatically collapsed this year. In France this month, 300 shellfish farmers, alarmed by the calamitous mortality rates, dumped the shells of oysters, mussels and scallops outside administrative offices to complain about the general indifference of the government and local politicians to the slow death of estuary and coastal ecosystems. SALMON The major news story in the salmon industry this month is the Russian ban on seafood imports from Western nations, including the major European salmon producers such as Norway. Russia represents one of the most important export destinations for Norwegian salmon, absorbing some tonnes in 2014, which means that Norwegian exporters must now find other buyers for substantial quantities of fish while Russian importers must primarily turn to Chile if they are to meet growing market demand. Fortunately, the strength of demand in other major markets should allow Norway and Chile to eventually reshuffle their trading partners without a longterm effect on prices, but it will take time before the respective industries adapt their products and logistics to their target new buyers and the market returns to equilibrium. Hence, in the short term, Norwegian prices can be expected to fall somewhat while prices for Chilean fish, particularly on the Russian market, should rise. The latest price reports suggest this is indeed what is occurring, while Chilean stock of frozen Atlantic has been completely sold out following a surge of Russian orders. Prior to the announcement of the ban, Norway s performance in July was exceeding that of July last year. According to the Norwegian Seafood Council, the total value of exports last month was up 11% compared with 2013 while volume was up 17%. This points to the relatively lower price for July this year, largely the result of the higher volumes coming out of Norwegian farms. Exports were up to all major markets, with EU countries importing a combined tonnes worth NOK 2.3 billion, representing increases of 15% and 10% respectively. TROUT The implications of the Russian ban for the trout market are similar to those for salmon, as here there will also be a shift from fresh Norwegian fish to frozen Chilean product. The positive effect on Russian prices is good news for Chilean producers, but Norway will struggle to replace what is by far the number one buyer of its farmed trout almost 50% of Norwegian trout ends up on Russian tables. This is a significant dampener on what had so far been an extremely good year for the Norwegian trout industry, which saw prices and export values soar in the first half Trout - Fresh, live, farmed - ex-farm prices in Italy of By the end of July, Trout: Salmo spp Norwegian trout exports in 2014 Rainbow Trout: Oncorhynchus mykiss came to a total of NOK 1.4 billion. 3.5 In Italy, trout prices continue to decrease, although an increase is expected at the end of the month. In farms, volumes are reported to be good although >2kg salmon trout are almost absent from the market with high prices resulting Aug-08 Dec-08 Apr

9 In Hungary, as is normal during the summer season, there is a stagnation of the freshwater fish market due to the decrease in supply. Despite this situation, prices are reported to be stable. The market for Nile perch is sluggish with prices remaining at a very low level. FRESHWATER FISH VASEP indicates that during the first half of 2014 total Viet Nam pangasius exports decreased by 3% compared with the previous year, despite a 5% increase during the first quarter of the year. This negative growth rate is anticipated to continue during the second half of the year because of the decrease in raw material and low demand from major markets (USA and Europe). During the first quarter of 2014 imports of frozen pangasius fillets by the EU dropped by 6% compared with last year, totaling tonnes, while the decrease in value was 8%. According to the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA) the average price of pangasius fillet fell to EUR 1.74/kg, whereas in 2013 it was EUR 1.76/kg and in 2012 EUR 2.00/kg. Pangasius recorded the lowest price among the white fish fillets, followed by Alaska pollock fillet, while frozen cod fillet doubled in price in the first three months of the year. During the first quarter of 2014, the EU countries imported close to tonnes of pangasius fillets, a decrease of 6% compared with the same time Pangasius - in Spain, origin: Viet Nam USD/kg Fillets - interleaved, 20% glaze, skinless, boneless, belly-off Fillets - IQF, white, 20%, 1kg poly bag Carp - Fresh - in Europe, origin: Hungary HUF/kg SEABASS/SEABREAM/MEAGRE Carp - whole - live Carp - Fresh, whole, gutted, head-on Carp - Slices, fresh on ice Carp - Fillets, fresh on ice period in In terms of markets, Spain and the Netherlands were the largest importers within the EU, though these imports did decline, following a general waning demand trend. Likewise during the first quarter, Germany imported tonnes of frozen pangasius fillets, 25% less that compared with the same period in Imports were higher into Italy, the UK and Belgium. Seabass and Seabream - In Italy, origin: Greece Seabass fresh whole gr/pc Seabream fresh whole gr/pc Greek export prices for most sizes of bass and bream were down slightly in August compared with the previous month. This is generally in line with the cyclical pattern observed as prices begin their annual drop off in midsummer. Weakening demand in

10 the major Mediterranean markets and higher harvest volumes should see this trend continue, but relatively tighter supply is expected to result in a year-on-year increase in prices. Russia s seafood import ban is not likely to have a large impact on the bass and bream market, as Turkey excluded from the ban already supplies the majority of fish directed to the Russian market. However, Greek producers will nevertheless have to find other buyers for their ~10% share of supply, meaning that Turkish exporters will likely see prices rise somewhat as they seek to fill the gap left by their competitors withdrawal. Meagre - In Italy, origin: Egypt gr/pc fresh whole Oct-12 Feb-13 Jun-13 Oct-13 Feb-14 Jun-14 10

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 Fillet 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 = 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 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 na Europe CIF Macruronus novaezelandiae Alaska pollack/lieu Industrial block single frozen na USA de l'alaska/colín Industrial block double frozen na 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 Produced from fresh raw material Molva molva 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 FCA 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. 5 na 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 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 companies Homarus gammarus 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 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 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 - head-on, gutted 1-2 kg/pc Romania/Bulgaria Norway Saumon de l'atlantique/ DDP Salmón del Atlántico for Eastern Europe Salmo salar Fresh - Whole - Ordinary 2-3 kg/pc Italy FCA Fresh - Whole - Superior 2-3 kg/pc IQF portion 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 = 16

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 * * * * * > * > * 18

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 Italy CPT Egypt farmed Meagre/Maigre Fresh - Whole - wild gr/pc commun/corvina Argyrosomus regius na farmed gr/pc FCA Greece gr/pc = CIF > = > = 19

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 1.34 EU EUR 0.75 Denmark DKK Exchange Rates: 11/08/14 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: