At the same time, prices for headed and gutted (H&G) pollock raw material from Russia, where the Sea of Okhotsk portion of the fishery is now certified to the Marine Stewardship Council (MSC) standard, are steadily rising and are now at between $1,630-$1,650 a metric ton, depending on terms of delivery.
“Based on this price, the cost for a twice frozen pollock block is over $3,000t,” said a source with one Chinese processor.
“Since 2009 or 2010, the price difference between double and single frozen is not large and now, almost equal,” said another source in
On large contracts, the second source said double frozen prices are around $2,800t-$2,850t, but can be $3,150t-$3,250t, cost and freight, if the deal is only for one or two containers, he said.
Because of slow fishing, the Russian H&G price often rises at the end of the year, having hit $1,650 in November 2011, according to the Undercurrent prices portal. In 2012, the prices in November were lower — at around $1,450t — but were still the highest seen that year.
The difference in 2013/2014 is
US prices for MSC single frozen, pin-bone out (PBO) pollock, meanwhile, are in decline. Having been as high as $4,500t for the A season of 2009, prices are now down around 32% from this level.
Sources told Undercurrent some
The result of this is “there is no room for Chinese processors”, the China-based source, who owns plants in
The Russian pollock price “has to drop in January, when the new season starts”, said the source. “Otherwise,
With the H&G price where it is, compared to the double frozen block sales price and the US PBO price, processors “are losing seriously this year”, she said. The current price level for H&G is not sustainable, she said.
“
Slow catching and low volumes have mainly driven the increase in Russian H&G prices, typical for this time of year, when the weather is bad and most of the quota has been caught.
The hope for Chinese processors is, that prices will come down, when catching in the
“The new catching will be starting soon, let’s see the starting price,” she said. With the low PBO prices, the prices for H&G must drop soon, said a Russian source.
Choice between single and double frozen fillets could move to double frozen due to price, for double frozen is always lower than for single frozen, he said.
An American pollock source agreed, saying the closeness of prices between double and single frozen is an artificial product of when contracts are being agreed and renewed.
More fundamentally, sources feel that many in
In
This could mean that, even if the price has dropped for H&G, there is much lower processing capacity in
“There is a concern that there won’t be the processing capacity in
Two Dalian-based sources said pollock processing in the region is going down, especially for Russian H&G. This is more due to low availability, than prices, said one. “Processors still have orders, but they don’t have materials.”
The second source said they have stopped pollock processing, due to high prices, and low availability. “Right now we are stopping processing pollock until we can buy new raw materials from
‘Hot’ production
In the short term, production in
Orders are for pollock, cod, haddock, hoki, almost all whitefish products, said the source. “Last week, I visited several companies, all full production.”
This is “good news, but everybody is waiting to see the pollock H&G situation in January”, he said, reiterating the point made by all the processors canvassed by Undercurrent.
“Many people also worry about the supply of non-MSC pollock H&G” — at a lower price more in line with the final products — because Russia now has MSC for the Sea of Okhotsk, where fishing is mainly in the A season, he told Undercurrent.
The source, who has got out of the pollock business himself and moved into salmon, said friends of his in the sector are thinking the same thing.
“My friend said, if non-MSC price increases too much and is in short supply, he will close the plant, because more production means more losses,” he said.
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
(seafood.vasep.com.vn) The Department of Fisheries of Ca Mau province coordinated with the School of Fisheries under Can Tho University to organize training courses on high-tech shrimp farming for 120 people in processors, cooperatives and families that are raising intensive and super-intensive shrimp in the province.
(seafood.vasep.com.vn) Currently, Soc Trang province plans to expand its shrimp farming area from over 50,000 hectares to 57,000 hectares by 2025, aiming for a production of 233,800 tons and maintaining a $1 billion export value. The project will establish 45 climate-resilient shrimp farming models and ensure all farms meet aquaculture standards for traceability.
(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
(seafood.vasep.com.vn) Dong Thap is a key region for pangasius farming, boasting the largest production in the Mekong Delta. In the first seven months of 2024, the estimated aquaculture area reached 4,778 hectares, with a harvest yield of 307,336 tons. Of this, the intensive pangasius farming area covered 2,042 hectares, with a harvest of 252,670 tons.
(seafood.vasep.com.vn) According to Vietnam Customs, in the first half of August 2024, Vietnam's pangasius exports to the EU reached nearly 8 million USD, up 57% over the same period. Cumulative pangasius exports to this market as of August 15, 2024, reached 107 million USD, up 0.5% over the same period last year.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
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