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Image: Revista Puerto

Seafood exports continue to fall

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Friday, November 25, 2022, 18:00 (GMT + 9)

Both in volume and in currencies, the cumulative drop from January to October was 9.5% according to CAPECA's monthly report. The shrimp in all its presentations was the product that received the greatest impact. Squid and toothfish with their positive numbers improve the total figures.
The report prepared by Fabián Pettigrew for CAPECA shows a decline of 9.5% both in volume exported and in foreign currency income. In the ten months that have elapsed, 1,568 million dollars entered and 408,233 tons of fish products were sold. On the other hand, the comparative figures for the month of October in 2021 and 2022 according to data recently published by INDEC, show a 30% drop for seafood products; in unprocessed fish and shellfish the drop was 36.8% and in the accumulated ten months, for these primary products the drop was 11.8%. The greatest impact has been felt by the double rig trawl sector, being more marked for the whole shrimp since the fall in demand was accompanied by a constant drop in the price that has not yet ended, but it has also been felt in the shrimp tails that they had a reduction in demand in all markets. For hubbsi hake there are ups and downs, depending on the type of presentation, while the positive figures were provided by squid and toothfish, allowing an improvement in the total percentage of exports and foreign exchange earnings.
Photo: Revista Puerto
Common hake
The hake filet had practically no variations in the volume exported, there were 50 thousand tons at a value 16% higher than last year, therefore the foreign exchange income for this product increased at the same level. The average price was located at 3,268 dollars per ton.
Brazil, the main market, demanded 6.5% less in 2022 but paid 23% more and for Spain, the second most important market, the demand remained stable and the price increased by 10.6% while, in the United States United States sales fell 13% but this was offset by a 14% rise in price.
Hake that is sold in presentations other than fillets, such as whole or H&G, had a 19% drop in demand and 18% in foreign exchange earnings, given that the average price only increased by 0.8%, standing at $1,539 a ton. Total sales were 27,444 tons.
As a consequence of the war, Russia, its main market, reduced purchases by 30%, generating a strong impact, the same happened with Ukraine, which required 52% less than last year. Of the five main markets, only two saw an increase in demand: in Israel and South Africa, which paid the lowest price, $1,190 per ton. The country that paid the best price was Spain, at a rate of $1,800 per ton, but demand fell by 51.5%.
The situation for the whole shrimp is one of the most critical in the sector given that the demand fell by 21% and the average price fell by 9.3%, remaining at 6,510 dollars per ton, therefore, the income of foreign currency was reduced by a 28% In total, 70 thousand tons have been exported.
The report marks an alarming fact, stating that "the price of whole shrimp has not yet found a floor" and points out that the accumulated drop in price is a consequence of the sharp drop registered in relevant markets during the last four-month period, "which averaged -6.6% for July, -10.3% in August, -15.3% in September and -26.3% in October”.
The main market for this product is also Spain and this year it has bought 20% less at a price 8% lower than in 2021; the other important market for whole shrimp is Italy and its drop in demand was so significant that it dragged it down to fourth place this year on the list of top destinations. In the Italian market, sales fell by 68% and the operations that were completed were at a 16% lower price.
In the month of October, the drop in sales is also observed in shrimp tails, since the decrease in volume that had been registered reached 26% and the increase in price of 9.5% no longer abated in the same way. way the impact of the drop in foreign currency income that reached 19%.
In China, the price increased by 14% but the drop in demand was 27.5%. In Spain, the drop in sales was 17% and the price increase was below average, managing to improve the price by only 6%. Sales also fell in Peru; USA; Thailand; Italy; Vietnam; Indonesia; Russia and Guatemala. Shrimp tail sales have fallen in all markets.
43,849 tons have been exported at an average price of 8,014 dollars, but according to the report, fortunately the price has begun to rise in recent weeks, reaching levels similar to those reached in June of this year, at a rate of $8,711 per ton. It is good news for those who are currently starting the Rawson season.
As has happened throughout 2022, squid exports have been the ones that improved the total number of exports, partly hiding what happens with other products. 142 tons have been exported at an average price of 2,148 dollars, this represents an increase in sales volume of 20.5% and in foreign currency of 26% thanks to a price increase of 5%.
South Korea, which did not feature in 2021 exports this year, was the top destination, where 25% of total sales were shipped. Thailand ranked second in the list of the main markets with an increase in demand of 102% and in Singapore the demand increased by 104.5%, placing itself below China, which this year has required less squid; 12% less product was destined for this market.
The best price was paid in Spain, at a rate of 3,121 dollars per ton in a demand that remains stable at around 9,000 tons. The lowest price was paid by the main market, South Korea. Despite the decline in sales in some markets, the emergence of new ones and with large purchase volumes, resulted in a very positive year for the jigging industry.
Patagonian toothfish
The holders of the Patagonian toothfish quota continue to enjoy the summer that the international conflicts surrounding the administration of this resource have given them. 2,110 tons have been exported, 24% more than in 2021 and at a 73.6% higher value, which generated an increase in foreign exchange earnings of 115%. The average value at which it is trading is $26,863. 72% of sales were made to the United States, which got a better price, paying 26,729 per ton.
Source: Revista Puerto



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