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Fish & seafood outlook

Fish & seafood outlook

What's happening in the market in September

SEPTEMBER AT A GLANCE:

  • Salmon – lower prices in September driven by Norwegian farms coming back after a period of holiday and increased harvests in Scotland.
  • Cod & Haddock – lower availability in the first weeks of September but prices should start easing back as we approach October.
  • Farmed Bass & Bream – steady availability and pricing on both species as the Bass season starts and Bream season continues.
  • Exotics – firm prices on both Tuna and Swordfish due to the continued monsoon season.
  • Chilled Crayfish - significant increase in demand from the Chinese market.
  • Scallops – seasonal price rises expected as poorer weather arrives.
  • Best of Skipper’s Catch: Dovers, Plaice, Squid, Grey Mullet, Sardines.

CURRENCY: The Pound has recently dipped below last year's low in light of the UK’s recent Brexit strategy that is of particular concern to market analysts. The Euro has weakened against the Pound after the delay of the new European Central Bank policy; the Pound to Euro exchange rate is currently seen at €1.099. The GBP/USD exchange rate is also trending narrowly at $1.29. Against the Norwegian Kroner, the Sterling is trading at 10.25 NOK.  (as of 17th August 2017)

FRESH SALMON

- We should see prices easing back at the back end of August as the Norwegian industry returns from holiday, and costs dropping in September.

- There are reports of warm waters and lice being found particularly in Scotland, which means that lower prices are being driven by early harvesting of smaller fish.

- In the longer term this is likely to create a shortage in supply and return to higher pricing at some point during October.

FRESH FARMED SEA BASS & GILT HEAD BREAM

- The new season Bass will be harvested from September and supply of all sizes should be good, including 600-800g fish that were a bit tighter recently, as the new generation of fish grows out.

- We are also expecting steady availability and pricing on Bream now as well as the season is in full swing.

- Only exchange rate fluctuations may affect prices of both in coming months.

FRESH COD & HADDOCK

- The new Haddock and Cod quotas start in Norway and Iceland in September with large boats going back to sea but there will be limited supply driving price increases on both species in the first few weeks; it’s a good idea to use defrost or frozen alternatives during this period.

- Fisheries should be up to speed by October; we don’t expect any issues with availability or pricing unless the landings are affected by bad weather.

FRESH EXOTICS

- Changeable weather conditions caused by the monsoon season in the Indian Ocean are expected to continue through September causing prices to remain firm across both Tuna and Swordfish, although we will have Chilean supply of Sword coming through.

- As we enter October we should see prices soften as fishing conditions and availability improve.

OTHER FRESH FISH & SEAFOOD

- Scallops – Seasonal price rises are expected as we start to hit poorer weather going into autumn. A general drop in landings will cause prices to increase month on month as they peak in the run-up to Christmas.

- Lobster - Inclement weather has impacted the Canadian Lobster landings. Indications are that processors may start to increase their prices slightly earlier than normal to recoup any losses from the main season.

- Gurnard, Lemon Sole and Pollack – prices will be affected by poor weather.

- Sea Trout – Scottish farms have postponed harvesting fish for a few months allowing it to grow on after the period of lower than expected growth cycle.

- Turbot – We are expecting lower availability of Spanish farmed Turbot due to production slowing down in September.

CHILLED BLUE SWIMMING CRAB

- Continued short supplies are affecting availability and pushing prices upwards.

- This has been mainly due to poor weather in South East Asia restricting fishermen’s ability to go to sea. Another factor is increased domestic consumption in Thailand putting pressure on stocks.

- The supply situation has been exacerbated by continued high demand in the US.

 CHILLED CRAYFISH

- Whilst 2017 Crayfish landings have been stable, we have seen a sharp rise in the raw material price due to the significant increase in demand from the Chinese market.

- This situation is highly unusual as all Crayfish caught and produced in China is sold to their home market as processors are able to get a higher price in China than in Europe.

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From the latest updates on what's been landed where through to weather reports and customer reviews. M&J Seafood keeps you close to what's breaking in the industry.