Jul 2011 - Issue 5 - National Federation of Fish Friers

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THE fish friers REVIEW Issue 5 July 2011 Commodity Watch All information correct at the time of going to print: 15/07/2011 Fish: Mid-summer often means strawberries and ice-cream rather than fish & chips unless you’re selling in a seaside tourist location, so sales can be slack but there is another, supply-related factor to consider. The quota year for North Atlantic fisheries runs from September. Fishermen too need their summer holidays, so by the end of June nearly all quota for the “old” year in Iceland, Norway and Russia has been caught. This year is no exception; no further landings are expected now until September, supplies therefore are limited to what is already in cold-store. Prices have firmed, exacerbated by continuing UK currency weakness, and should be expected to stay at these levels for the foreseeable future. Hard evidence of the changing supply scene is the closure of the Fishgate fish market in Hull, barely ten years after it opened. Always dependent on Icelandic supply and despite its very modern grading machinery and electronic auction equipment, Fishgate recently had become more of a distribution centre for fish landed by container into Immingham, on the Grimsby side of the estuary, than active auction supplying local processors. Not surprisingly the Icelandic owners took the view that as and when they might need auction facilities, Grimsby was closer and costs could be saved. This is further indication of a wave of global commercial realism sweeping through the fish supply chain. While higher cod quotas for 2012 in the North Atlantic and Barents Sea are evidence of successful, science-based stock management in the first years of this new millennium, there is no reason for complacency. The world appetite for wildcaught white fish is growing apace, new markets outside Europe will pay higher prices to secure sustainable supplies and the UK must respond accordingly. Oils & Fats: Malaysia palm oil futures touched their highest level since end of June on Friday 8th of July, boosted by technical buying and higher prices for comparative oils ahead of industry data from No2 producer Malaysia next. The market still remains volatile; palm oil is currently trading at around 3000 ringgits which is the lowest it has been for the past 7 months. However due to the recent issues within the Eurozone, the Dollar has strengthened against the Pound and Euro which means Sterling prices are increasing. However, we do seem to be entering a period of bearish news on the market. Stocks are increasing, exports are slowing and other external markets are showing weakness. Interestingly enough July last year was the best time to buy in terms of the market being at its lowest level - this looks like it could be the case this year also. However if speculation remains minimal within the market we could see further price easing during the August - October period (The Peak Palm Oil production period) which is something we didn't get during 2010 due to the speculators holding approx 70% of market position. Potatoes: The price for Accord and Premiere has been going down over the past few weeks but is expected to stabilise as processers begin to buy. Samples are of a high standard. First samples of Maris Piper are expected soon. Crop Bags, Frying In the South West there are more than adequate supplies for a slow demand with prices under pressure. Ware supplies (mainly M Peer) are £80-£100/t and frying quality Accord and Premiere are £110-£120/t, with some as high as £140/t. In the South East trade is slow with ware supplies (mainly M Bard and P Javelin) £100-£120/t and frying Accord and Premiere are £120-£140/t, occasionally £150/t for local sales. In Shropshire loading is at a high level with supplies often in excess of demand, putting further pressure on prices. Chipping samples of Accord, Amora and Premiere are mainly £120-£125/t, with some at £130/t for local sales. Some Accord and Fambo for chipping are moved to N Ireland at £130/t in 25kg bags. In Cheshire prices have eased in line with other areas with good chipping samples of Accord and Premiere mainly at £120-£125/t, with some at £130/t. In Suffolk and Essex some M Bard, Accord and Premiere are from £100/t, mostly £120/t and a few at £140 for repeat orders. M Piper is trading at a wide range from £150/t, mostly £170/t and up to £200/t. In Lincolnshire M Bard, Premiere, Fambo, Sagitta and Accord are mostly £100- £120/t up to £130/t on repeat orders. In Yorkshire frying samples of M Bard, Premiere and Accord are £120-£130/t up to £140/t for local sales and odd Marfona ware is £140/t. In Lancashire small volumes of M Bard in bags are £120-£140/t for local sales and smaller salads fractions samples at £240/t. In Pembrokeshire the movement of Accord, Amora and Premiere for chipping are £120/t up to £130/t to local outlets. On Anglesey the chipping supplies of Casablanca and Premiere are in balance at £125/t up to £150/t for local sales. In Scotland Epicure, Rocket and Casablanca have eased to £200-£240/t with a premium for local sales. Wholesale Markets - 2011 Crop Prices out of market w/e 15th July Variety Weight Ware Select Washed Accord 25 kg - £4.00-£4.50 Premiere 25 kg - £4.00-£4.50 Thanks go to John Rutherford of FASFA, Stuart Cowell at AAK/NEODA and The British Potato Council for all their help and contributions to this feature. If you have any questions or would like to submit market reports about your commodity please email t.pick@federationoffishfriers.co.uk We welcome any contributions to this feature. 25
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Jul 2011 - Issue 5 - National Federation of Fish Friers

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