IN BRIEF - Wholesale Prices of Norwegian Mackerel in South Korea
SOUTH KOREA
Thursday, October 03, 2024
As of October 2024, the volume of frozen mackerel imported up to September was 33,926 tons, nearly identical to the 33,927 tons imported in 2023. The domestic distribution price has shown a steady upward trend, with the average import price of frozen mackerel by September 2024 standing at USD 2.17/kg.
Norwegian mackerel accounted for the largest share of imports, with 27,941 tons, representing 83.3% of the total.
The average import price for Norwegian mackerel was USD 2.23/kg. Chinese mackerel made up 10.9% of imports, with 3,645 tons and an average price of USD 1.97/kg. Taiwan contributed 1,352 tons, making up 4.0% of imports, at an average price of USD 1.48/kg. Additionally, 611 tons were imported from the Netherlands.
In the first week of October 2024, the wholesale price for Norwegian frozen mackerel, size 300/500g, reached 99,000 KRW, a 2.06% increase from September's price of 97,000 KRW, and a significant 57.14% rise from 63,000 KRW in December 2023.
For size 400/600g, the price was 98,000 KRW, a 1.03% increase compared to September 2024 and a 44.11% rise compared to 68,000 KRW in December 2023. The price of Norwegian mackerel is expected to continue its upward trend in the near future.
There were 1.7 thousand tons shipped in October, an increase of 8.1% compared to the previous month. Compared to the same period in 2023, the volume almost doubled.
In October, tilapia prices continued to fall in almost all markets monitored by Cepea, returning to the levels observed in 2022.
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Cepea researchers explain that this scenario is a reflection of the high supply of fish and the weakened demand.
Given the high domestic availability, Brazilian exports of tilapia (fillets and secondary products) have increased significantly.
According to data from Secex compiled by Cepea, 1.7 thousand tons were shipped in October, an increase of 8.1% compared to the previous month. Compared to the same period in 2023, the volume almost doubled.
As of November 8, 2024, the wholesale prices of frozen pollock in South Korea showed slight decreases for sizes 6 and 7, while sizes 8 and 9 remained steady.
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Through October 2024, South Korea imported 121,624 tons of frozen pollock, a 6% increase compared to the 114,808 tons imported by the same time in 2023. This volume accounted for 16.6% of the nation’s total seafood imports.
The import value of frozen pollock by October 2024 amounted to USD 118.23 million, marking a 2% decrease from USD 121.25 million in 2023.
The average import price per kilogram was USD 0.97, down 8% from the previous year’s USD 1.06.
By country, the import prices were USD 0.83/kg from Russia, USD 1.21/kg from the U.S., and USD 1.61/kg from China.
The vast majority, or 98.8% (120,161 tons), of frozen pollock imports came from Russia, with smaller amounts from the U.S. (1.1%, 1,337 tons) and China (0.1%, 127 tons).
The Russian crab export to China for January-September 2024 remained at the same level as last year, the analytical center of the Fish Union estimated.
The volume of crab exports from Russia to China amounted to 29 thousand tons in the first nine months of 2024. Supplies remain stable despite the decrease in crab catch. Thus, in ten months in the Far Eastern basin, Russian crab fishermen caught 54 thousand tons (8% less than in the same period last year), and in the Northern basin - 17 thousand tons (19% less), the press service of the Fish Union told Fishnews.
In monetary terms, deliveries increased by 10% year-on-year to $850 million..
At the same time, the structure of supplies (in physical terms) changed: the share of live crabs increased by 10 percentage points and exceeded 80%, while the share of frozen crabs decreased to 20%.
In October 2024, South Korea’s imports of Norwegian seafood experienced a slight year-on-year decrease.
Monthly imports for October totaled 3,779 tons, marking a 21% increase from 3,112 tons in October 2023. However, cumulative imports from January to October reached 54,853 tons, down 6% from 58,531 tons over the same period last year, representing 7% of South Korea’s total seafood imports of 732,192 tons.
Imports by Product:
Frozen mackerel: Imports fell to 24,082 tons, a 14% decline from last year’s 28,033 tons.
Frozen mackerel fillets: Imports saw a notable drop of 27%, reaching 3,745 tons compared to 5,141 tons in 2023.
Fresh Atlantic salmon: Imports totaled 13,256 tons, down 11% from 14,965 tons last year. However, imports of fresh Atlantic salmon fillets surged to 3,330 tons—a remarkable 253% increase from 943 tons in 2023.
The import value of Norwegian seafood in October rose to USD 38.62 million, a 25% increase from USD 30.89 million last year. Nevertheless, the cumulative import value for 2024 reached USD 436.67 million, down 5% from USD 460.26 million in 2023. The average import price rose slightly, increasing by 1% to USD 7.96 per kilogram compared to USD 7.86 per kilogram last year.
An innovative system of submersible cages with a diameter of 50 metres, installed off the coast of Getaria (Gipuzkoa), is being tested in the Cantabrian Sea for fattening tuna, reports El Pais.
Two large submersible pools with a diameter of 50 metres float in the open waters of Getaria (Gipuzkoa). On the surface, 3.6 nautical miles from the coast, rings made of polyethylene tubes can be seen, from which mesh hangs, sinking to a depth of up to 30 metres.
This is the first marine farm for fattening red tuna to be installed in the Cantabrian Sea. The breeding of the fish will begin in the summer of 2025 and it is expected that a year later up to 150 tonnes of tuna will be able to live in this habitat. "If it passes the test here, it will be a farm suitable for any location,"says Antonio López Zapata, director of Aquaculture at Balfegó, the Catalan company run by Juan Serrano.
Baku, Azerbaijan — As global leaders convene for the United Nations Climate Change Conference (COP 29), the International Coalition of Fisheries Associations (ICFA) is calling on policymakers to recognize and address the critical relationship between fisheries and climate change. ICFA highlights that climate action in the fisheries sector is essential for food security, ecosystem health, and achieving sustainable development goals (SDGs).
ICFA’s Key Messages for COP 29:
Climate Threats to Fisheries: Rising ocean temperatures, acidification, and species migration are destabilizing marine ecosystems and fish stocks, with far-reaching consequences for global food security and coastal economies.
"Blue Foods" for a Low-Carbon Future: Fisheries products, or “blue foods,” are among the lowest carbon-impact animal proteins. Increasing their share in global diets can help lower food system emissions and advance SDGs like SDG 2 (Zero Hunger) and SDG 13 (Climate Action).
Adaptation for Marine Resilience: ICFA urges COP 29 participants to prioritize adaptation strategies that strengthen ocean resilience and protect sustainable fish resources.
Collaborative Climate Solutions: A coordinated approach between policymakers and the fisheries sector is essential to develop effective, practical climate solutions.
Read ICFA’s full resolution on climate and fisheries here.
This premier event celebrates the most innovative Alaskan seafood products and promises an evening filled with culinary excellence, industry networking, and the thrill of competition.
Guests will be welcomed with a reception and exclusive tasting of this year’s Alaskan seafood entries in categories including Best New Retail Product, Best New Foodservice Product, Beyond the Plate, and Seafood Innovation. Following the tasting, guests will enjoy a seated dinner and witness the highly anticipated awards ceremony. This year’s master of ceremonies, Chris Egan of KING 5 Seattle, will bring his local charm and passion for fishing to the stage.
The evening will also include live and silent auctions, featuring a range of unique prizes. Guests can look forward to savoring a 10-pound box of Alaskan red king crab, embarking on a seven-day Baja Mexico cruise with UnCruise Adventures, taking an Alaska Sea Planes flight, or enjoying a special tour of the Pentagon for those seeking extraordinary experiences.
AFDF is proud to support SeaShare as it celebrates its 30th anniversary, with a portion of the event proceeds contributing to SeaShare’s impactful mission. Over the years, SeaShare has partnered with the seafood industry to donate more than 275 million servings of nutrient-rich seafood to underserved communities.
Reston, VA – In 2022, Americans consumed 19.7 pounds of seafood per capita, down 0.8 pounds from 2021. The latest numbers show a continuation of the “tinned fish” craze featuring increases in consumption of canned tuna, canned shellfish and canned sardines.
Though experiencing a slight decrease in consumption, Shrimp kept its spot as the most consumed seafood species. Pangasius and Cod saw the biggest gains in consumption, and staples like Tilapia, Catfish and Alaska Pollock held their place in the Top 10. Meanwhile, Oysters joined the NFI Top 10 List for the first time ever.
“The 2022 Top 10 List reflects the correction that took place following the 2021 supply surge which saw a 9% increase in available seafood,”NFI Programs Director, Richard Barry, said.
“Since the previous year experienced record high supply growth, a slight dip the following year was expected. The 2022 per capita number; however, remains higher than pre-pandemic consumption, an encouraging sign of retained seafood consumers.”
The Top 10 List makes up 79% of total consumption, which shows that Americans are continuing to diversify their seafood experiences.
Could the salmon farming industry have its own version of Elon Musk?
Norway’s rugged fjords and cold waters have long been home to one of the world’s largest salmon farming sectors, but mounting environmental pressures have cast a shadow over its future. Now, an innovative industry figure is looking to disrupt the traditional methods, aiming to transform salmon farming with bold new technology.
Sondre Eide, CEO of Eide Fjordbruk, has been described as the “Elon Musk of salmon farming” by UK newspaper The Times in an article highlighting his efforts to reshape Norway’s aquaculture industry.
Author: Matthew Wilcox / SalmonBusiness l Read the full article here
The Secretary-General of the International Maritime Organization (IMO), Arsenio Domínguez, will lead the organization's delegation to the annual United Nations Climate Change Conference (COP-29) in Baku, Azerbaijan, from today until November 22, an event that will bring together world leaders along with 40,000 delegates representing governments, civil society and the private sector to discuss how to address climate change.
In line with the Paris Agreement, the global maritime sector has committed to achieving the goals of achieving net-zero greenhouse gas (GHG) emissions from shipping by 2050, in line with the IMO's 2023 Strategy to reduce GHG emissions from ships.
Source: Industrias Pesqueras l Read the full article here
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