The production of PBO fillets though Feb. 8 is 8,600 metric tons, down 21.81% year-on-year. The loss of the price premium from being the only Marine Stewardship Council (MSC) certified fishery after the Russian Sea of Okhotsk fishery was certified last year is impacting US production.
Prices for PBO fillets, the main market for which is the European fish finger processors in Germany, France and the UK, are down at around $2,950 per metric ton, depending on delivery terms and quantity. B season prices in 2013 were around $3,050/mt, with the A season last year at around $3,200/mt.
The last time the prices were at this level was the B season of 2007, before they went on a rapid climb, hitting $4,500/mt in the A season of 2009.
US catchers are producing more deepskin blocks, with production at 8,900t already, up 64.81% y-o-y. Surimi production so far is 16,900t, up 3% y-o-y. Surimi prices to Japan are trending up.
The price of Alaskan pollock surimi bound for the Japanese market for the current 2014 A season has roughly settled at JPY 30-40 higher than that for the 2013 B season, buoyed by the uncertain outlook for surimi supplies from other producers, mainly Southeast Asia and China, according to a report fromMinato Tsukiji.
For roe, mainly sold to Japan and formerly the cash cow of the industry, the outlook is also looking more positive, with recovery rates up on the A season of 2013.
Production of headed and gutted (H&G) pollock is 3,900t so far, down 23.52% y-o-y.
H&G prices are also under pressure, because of the Russian Sea of Okhotsk fishery now having the MSC approval, also. The Sea of Okhotsk fishery takes place largely in A season, meaning Chinese processors can produce double frozen blocks for customers wanting MSC products from Russian fish, as well as American.
The Russian H&G price is currently around $1,400/mt, with American fish still selling at a premium, but largely because there is more bigger fish available, rather than the large premium US H&G used to command from being the only MSC pollock available.
According to producers in the US, the strategy is to cut PBO production and dry up the market in Europe, resulting in higher prices in B season. “Demand is still strong — in Europe and the US — and we don’t think there is much stock around,” one said.
At the same time, the low prices are causing more US buyers to switch to once frozen — PBO, deepskin or individual quick frozen (IQF) fillets – over twice frozen pollock, processed in China from US or Russian H&G.
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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