In July 2024, Vietnam's fish cake and surimi exports continued to decline. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the export value of this product group reached 152 million USD, down 13%.
Among more than 35 markets, South Korea, Thailand, China, Japan and the EU are the five largest importers of Vietnamese fish cakes and surimi, accounting for more than 78% of total export turnover. Compared to the same period in 2023, exports to these markets, except the EU, all decreased compared to the same period.
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According to businesses, fish cake and surimi exports are still in a difficult period because the IUU yellow card issue has delayed the confirmation and certification of exploited seafood for production and export. Businesses lack domestic raw materials and face difficulties with imported raw materials due to regulations related to IUU... All of these factors are hindering the recovery of the Vietnamese fish cake and surimi industry.
At the same time, the growing volume of pollock surimi in the already weak global market is a challenge for surimi companies. It is likely that in the next few years, pollock surimi will dominate the tropical fish market unless there is a recovery in consumption demand. This can only happen if new markets are created.
Tariffs on Peruvian giant squid (dosidicus gigas) may soon be halved due to contracting demand driven by excessively high prices.
This year's Peruvian giant squid catch, which is already in short supply, is expected to drop to around half of the usual average. As international demand grows, Japan's supply is shrinking, leading to rising domestic prices. Trading companies are increasingly concerned that local stocks may soon be depleted.
To mitigate this shortfall, squid traders are turning to Illex squid from Argentina as an alternative.
For decades, Japan dominated global squid fishing and supply, but it is now being outpaced by China's growing fleet and squid products processed in Zhoushan.
Aquaculture accounted for 59% of total aquatic production in 2022 and surpassed capture fishing for the first time, according to the FAO Sofia Report 2024, reports Alimarket.
In this sector, the Spanish company Culmarex, a subsidiary of the Canadian group Cooke that operates commercially as Cooke Spain, closed 2023 with a 23% increase in turnover and a return to profits, after a 2022 marked by the high cost of supplies and lower fish consumption due to inflation.
With facilities spread across the peninsular Mediterranean coast, it is one of the main suppliers of farmed sea bream, sea bass and croaker in Spain and Europe. Among its latest projects, the investment in a filleting plant stands out.
In September, South Korea imported 17,127 tons of frozen pollack, marking a 14% increase compared to 14,964 tons in the same period last year.
From January to September, cumulative imports totaled 105,136 tons, marking a slight decline of 1% compared to 106,596 tons during the same period in 2023. Frozen pollock comprised approximately 16% of the total seafood imports, which reached 651,137 tons by the end of September.
Geographically, 99% of frozen pollock imports (103,720 tons) originated from Russia, while the United States contributed 1,289 tons and China 127 tons. Among these, China had the highest import price at USD 1.61/kg, followed by the U.S. at USD 1.25/kg, and Russia at USD 0.96/kg.
In September 2024, the import value of frozen pollock reached USD 16 million, reflecting a 12% increase from USD 14.27 million in September 2023. However, the cumulative import value from January to September saw a 10% decrease, totaling USD 101.09 million, down from USD 112.85 million the previous year. The average import price was USD 0.96/kg, a 9% decline from USD 1.06/kg in 2023. While the volume of frozen pollock imports is rising, the decreasing import prices and overall value are raising questions about future trends in the market.
For reference, wholesale distribution prices for frozen pollock in Korea are approximately KRW 39,500 for the Russian-origin (7-count) variety and around KRW 29,500 for the 8-count variety.
As of October 5, 2024, the Russian catch of Commander squid reached 90 thousand tons, which is 40% more than the figure for the same date last year. It is also only 2% less than what was caught in the whole of 2023, the Analytical Center of the Fish Union calculated.
The production of squid whole round on ships increased by 12% over 9 months compared to the same period last year, to 40 thousand tons.
The production of squid fillets on vessels exceeded 4.5 thousand tons, which is 25% more than on the same date last year and 6% ahead of the production volume for the whole of 2023.
Source: Fish Union (translated from original in Russian)
On October 12, representatives from Mong Cai City (Qu?ng Ninh) started returning Chinese aquaculture cages that arrived in Vietnam due to the impact of storm No. 10.
The return took place at the first point of the territorial sea delimitation line - Photo: VNA
The return took place in the area of ??the first point of the territorial sea delimitation line in the Gulf of Tonkin between Vietnam and China.
The two sides handed over 2 aquaculture cages with identifying characteristics consistent with the information provided by the Foreign Affairs Office of Dongxing City (China) in the letter exchanged on September 21.
This is the first return of aquaculture cages that the Foreign Affairs Office of Dongxing City (China) provided in the exchange letter.
The country marked a major breakthrough in aquaculture with the species farmed in a RAS system in Shizuoka, thanks to the collaboration with Proximar Seafood and Skretting.
On September 30, 2024, Japan took a decisive step in its aquaculture industry by celebrating its first domestic harvest of Atlantic salmon. This salmon was raised in a recirculating aquaculture system (RAS) facility located in Shizuoka Prefecture, built and operated by Norwegian company Proximar Seafood since 2022, marking a significant milestone in the sustainable development of aquaculture in the country.
Skretting, in strategic partnership with Proximar, has been collaborating closely since the start of the project.
Source: MundoAcuicola l Read the full article here
Aquaculture accounted for 59% of total aquatic production in 2022 and surpassed capture fishing for the first time, according to the FAO Sofia 2024 Report. In this sector, the Spanish company Culmarex, a subsidiary of the Canadian Cooke group that operates commercially as Cooke Spain, closed 2023 with a 23% increase in turnover and a return to profits, after a 2022 marked by the high cost of supplies and lower fish consumption due to inflation.
With facilities spread across the peninsular Mediterranean coast, it is one of the main suppliers of farmed sea bream, sea bass and croaker in Spain and Europe.
Salmon farmer Mowi harvested a record-high volume of 161,000 gutted weight tonnes in the third quarter of this year, an increase of 26,000 gwt compared to the same period last year.
Operating profit for the quarter was approximately €173 million (£144.3m), a reduction of €30m on the €203m earned in Q3 2023. Spot prices were lower throughout Q3 2024 than they were in the same quarter last year.
Source: fishfarmingexpert l Read the full article here
In what can be described as an historic event for the Norwegian aquaculture industry, the wellboat Ronja Ode was christened Ålesund on October 12th. This marked the beginning of a unique collaboration between the two local companies, Ode and Sølvtrans, which are working together to drive innovation and development in aquaculture.
Ronja Ode is the world’s first dedicated wellboat for transporting farmed cod and represents a significant step forward in the development of the cod farming industry.
The boat is the result of a close collaboration between Sølvtrans, a leading wellboat company, and Ode, the Norwegian cod farmer
Land-based aquaculture company Stolt Sea Farm (SSF) has broken ground on the construction of RAS II, its new recirculation facility in Tocha, Portugal, for the production of sole.
The new facility will be similar to the recirculating aquaculture system (RAS) operations that SSF already has in Cervo, Spain, and on the same site in Tocha.
SSF says both of these sites have exceeded expectations in terms of performance and return on investment.
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