May/June 2010 - Global Aquaculture Alliance

Norwegian, U.K. Salmon Fillets Jump
As Chile Recovers From Earthquake
Although lower than in January 2009, import levels
of salmon fillets rose at the start of 2010.
January year-to-date (YTD) imports of salmon to the U.S.
began 7.3% lower than year-ago levels (Table 2). Frozen whole
fish imports continued to see YTD increases and were 36.0%
higher YTD than in January 2009. Fresh whole fish also experienced
an increase of 6.7%. Fresh fillets and frozen salmon fillets,
on the other hand, began 2010 24.5% and 5.1% lower, respectively,
than 2009 YTD levels. Total month-to-month data
showed a 3.8% increase.
Whole Fish
YTD figures for fresh whole fish showed beginning-of-theyear
increases 6.7% over January 2009 YTD. Month-to-month
data for December 2009 to January also showed an increase, up
3.9%. Salmon imports from Canada began 2010 6.3% lower
YTD. Month-to-month imports, however, increased 10.3%
from December 2009 to January.
Pricing in the Northeast was full steady to firm throughout
the month of March in the heart of Lent. Supplies were ade-
Form
Fresh whole fish
Frozen whole fish
Fresh fillets
Frozen fillets
Total
January 2010
(lb)
18,040,493
416,329
12,307,019
12,360,249
43,124,090
Sources: U.S. Census, Urner Barry Publications, Inc.
quate for a moderate to active demand. All sizes continued well
above the three-year averages.
The West Coast whole fish market, similar to the Northeast,
was full steady to firm for the month of March. Supplies ranged
adequate to barely adequate for a moderate to active demand.
Pricing for West Coast fish also continued the year trending well
above the three-year average for all sizes of fish.
Fillets
Salmon imports to the U.S. began 2010 with Norway leading
as the top source for fresh fillets. During January, 4.9 million lbs
were imported from Norway, while Chile sent 4.3 million lbs.
Overall, January YTD levels were 23.3% lower than year-ago
levels. On the other hand, import volume rose 8.9% since
December 2009.
Norwegian fillets began 2010 669.1% higher than last year at
the same time. Chilean fillets, in contrast, were 68.9% lower
than 2009 YTD figures. Canada and the United Kingdom also
started 2010 with strong exports to the U.S. at 85.9% and
317.4% higher than YTD levels, respectively. Each sent over 1
million lbs in January.
Month-to-month data for Norway was up 24.6% from
December 2009, while Chile showed a decrease of 6.0% for the
same time period.
The Norwegian fillet market firmed at the beginning of
March and remained steady for most of the month. At the
beginning of March, the country of Chile experienced a massive
earthquake that affected transportation and logistics in the country.
Salmon exports resumed fairly quickly, though, and pricing
trended higher. Current pricing for the Chilean fillet market is
about steady. The undertone is somewhat unsettled with both
higher and lower offerings noted.
Table 2. Snapshot of U.S. salmon imports, January 2010.
December 2009
(lb)
17,369,542
839,814
11,405,146
11,942,936
41,557,438
Change
(Month)
3.9%
-50.4%
7.9%
3.5%
3.8%
January 2010
(lb)
16,906,368
306,191
16,308,602
13,018,728
46,539,889
Change
(Year)
6.7%
36.0%
-24.5%
-5.1%
-7.3%
YTD 2010
(lb)
18,040,493
416,329
12,307,019
12,360,249
43,124,090
Fresh Tilapia Fillet Prices Spike After Lent,
Frozen Imports Set Monthly Record
In January, total tilapia imports to the U.S. increased when
compared to the previous month (Table 3). Fresh fillets registered
a more than modest increase, while frozen fillets recorded a
monthly record high. Imports of whole fish also increased during
the first month of 2010.
Whole Fish
Although imports of whole tilapia increased when compared
to the previous month, January imports decreased when com-
YTD 2009
(lb)
16,906,368
306,191
16,308,602
13,018,728
45,539,889
Change
(Year)
6.7%
36.0%
-24.5%
-5.1%
-7.3%
pared to the same month in previous years. This is relevant, as
this month has historically shown a large influx of product as
importers prepare inventories for Lent.
Fresh Fillets
January imports of fresh fillets increased when compared to
the previous month as well as surpassing the monthly average for
2009. However, when compared to the same month in previous
years, January marked the lowest level of imports since 2006.
January imports of fresh fillets surpassed the monthly average
for 2009, but when compared to the same month in previous
years, marked the lowest level since 2006.
Due to falling prices and diminished margins in the past couple
of months, volumes have been adjusting lower as supply and
demand find a balance in the market. That said, prices started
adjusting slightly higher prior to the beginning of Lent, as
Sources: U.S. Census, Urner Barry Publications, Inc.
demand was noted stronger.
However, a sudden shortfall of product in the U.S. caused
prices to spike rapidly during the weeks after Lent started. Availability
has improved somewhat, easing some of the upward pricing
pressure. The market is currently rated full steady to steady.
Frozen Fillets
Imports of frozen tilapia fillets surpassed the 31 million lbs
mark in January, registering a monthly record. Inventories in the
U.S. were more than adequate amid a soft demand. After the
Chinese year-end festivities ended, replacement costs started to
rise, making some importers raise their asking prices. As a result,
the market in the U.S. firmed slightly, but not to the extent
replacement offerings did. The current undertone is steady at
listed levels.
The fresh market is showing some signs of recovery after a
sudden shortage of product, but the pricing undertone remains full
steady to steady. The frozen market, on the other hand, is steady
at listed levels. But many traders expect higher prices in the
upcoming weeks as replacement offerings have gone up more than
asking prices in the U.S., mainly due to adequate inventories.
70 May/June 2010 global aquaculture advocate global aquaculture advocate May/June 2010 71
Form
Frozen whole fish
Fresh fillets
Frozen fillets
Total
GOAL
2010
January 2010
(lb)
7,407,378
4,691,395
31,004,989
43,103,762
December 2009
(lb)
7,047,451
4,298,379
30,102,848
41,448,678
October 2010 –
Kuala Lumpur, Malaysia
Change
(Month)
5.11%
9.14%
3.00%
3.99%
Plan Now To Attend
Network with aquaculture production and market
leaders, and examine issues and solutions at GOAL 2010.
Kuala Lumpur offers a casual tropical atmosphere with
easy access and affordable accommodations.
Additional information will follow with invitations to GAA
members and past GOAL participants.
Co-hosted by the Malaysia Department of Fisheries
Table 3. Snapshot of U.S. tilapia imports, January 2010.
®
global aquaculture
January 2010
(lb)
9,261,653
5,014,463
29,465,689
43,741,805
Change
(Year)
-20.02%
-6.44%
5.22%
-1.46%
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YTD 2010
(lb)
7,407,378
4,691,395
31,004,989
43,103,762
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YTD 2009
(lb)
9,261,653
5,014,463
29,465,689
43,741,805
www.urnerbarry.com
Change
(Year)
-20.02%
-6.44%
5.22%
-1.46%